Below is a brief excerpt transcribed from Tuesday's edition of The Macro Show hosted by Hedgeye CEO Keith McCullough.
You should not be bearish on emerging markets broadly.
You should not be bearish on emerging markets specifically. So we bought both broadly and specifically yesterday, adding Emerging Markets (EEM) on Real-Time Alerts, which has Chinese Consumer stocks, Taiwanese semi-conductors, and South Korean stocks, all in the big belly of that basket.
Immediate term trade oversold on a China virus, and you get your buying opportunity. And moreover, we bought South Africa (EZA) in Real-Time Alerts, because it too remains in Quad 2 like South Korea.
This morning’s economic data reiterates that both in Taiwan and South Korea. Look at the chart. My partner Darius Dale's data gives you exactly what you want to see if you indeed bought the damn dip yesterday.
You can see the economic data is color coded green in rate of change terms, with South Korean GDP accelerating, alongside Taiwanese Industrial production growth.
By the way, there’s always something good to be buying in Macro. This is just a reminder if you are of perma-bear stance, you got to change what you do.
Wake up and change your process.