CLIENT TALKING POINTS
Japan
Post the friendly Abe visit to the USA and a #StrongDollar ramp vs. the Yen, the Nikkei’s +3% pop in the last 2 trading days registers an immediate-term TRADE overbought signal inasmuch as Yen (vs. USD) signals oversold – we still like Japanese stocks, but we'd book some gains here.
Copper
Youge +5.8% week-over-week move in an important proxy for our #InflationAccelerating call here in Q117 seeing follow through to $2.78/lb this morning but that signals immediate-term TRADE overbought within its bullish TREND too – you should continue to see y/y inflation ramps in the US CPI and PPI reports this week.
VIX
US Equities at the highs and Volatility has crashed (-27.5% since the election) despite consensus concerns about Trump – but that’s yesterday’s news; this morning we're registering my first higher-low (within my immediate-term range) for front-month VIX at 10.36; book gains in US equity beta is the call on that.
Asset Allocation
| CASH | US EQUITIES | INTL EQUITIES | COMMODITIES | FIXED INCOME | INTL CURRENCIES | |
|---|---|---|---|---|---|---|
| 2/12/17 | 36% | 18% | 15% | 12% | 0% | 19% |
| 2/13/17 | 45% | 15% | 13% | 10% | 0% | 17% |
Asset Allocation as a % of Max Preferred Exposure
| CASH | US EQUITIES | INTL EQUITIES | COMMODITIES | FIXED INCOME | INTL CURRENCIES | |
|---|---|---|---|---|---|---|
| 2/12/17 | 36% | 55% | 45% | 36% | 0% | 58% |
| 2/13/17 | 45% | 45% | 39% | 30% | 0% | 52% |
THREE FOR THE ROAD
TWEET OF THE DAY
This week in Hedgeye cartoons. Get our daily cartoon emailed for free: hedgeye.com/cartoon/email
@Hedgeye
QUOTE OF THE DAY
“You are going to make mistakes in life. It’s what you do after the mistakes that counts.”
-Brandi Chastain
STAT OF THE DAY
Charles Oakley spent 10 years with the Knicks, averaging 10.4 points per game.
