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Takeaway: Please note we are removing SEMG (short) from Investing Ideas today.

We are removing SemGroup from the short side of Investing Ideas today.

Below is a brief note from Hedgeye CEO Keith McCullough explaining why:

With the stock down another -6% today, we’re happy that this stock generated alpha for you over the period that the US stock market ripped to new highs. Since I’m bullish on Oil & Gas (the commodities) right now, I’d like to issue another one of our Energy analyst Kevin Kaiser’s SELL ideas on a bounce to #overbought highs. SEMG is #oversold today.