Below is a brief excerpt transcribed from Friday's edition of The Macro Show hosted by Hedgeye CEO Keith McCullough.
What really matters is when big bear market bounces fade @Hedgeye Trend Resistance. You can see those set up in a lot of the Risk Range products.
Whether its Spain, which has been in a bear market for over 2 years or the South Korean Kospi Index which was down another 1.3% overnight; it doesn’t really matter to me that Spain is bouncing this morning off its lows. Spain has been bouncing off the lows since 2017!
Look at China! The Chinese stock market this morning was down 1.1% on the daily. But if you look all the way back, you can clearly see what a bear market looks like.
I get it for some of you. There’s a push and a pull.
The pull is the economic gravity and the push is for you to always buy stocks.
They don’t have Jim Cramer in China. They don’t have him in Spain. These are uniquely American. This constant FOMO is pretty typical to find at the end of a bubble.
That’s really important for you to understand this morning.
