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Below is a brief excerpt transcribed from Monday's edition of The Macro Show hosted by Hedgeye CEO Keith McCullough.

McCullough: Oil Is Leading Indicator Of Deep Quad 4 - 4 27 2020 11 00 10 AM

First on oil. I get up this morning, and I'm like “Holy hell, oil is down 12-14%.”

I keep doing my work in the morning and now its down 25%! In a day!

What could possibly go wrong?

Don’t forget Energy stocks led the bounce.

Also, don't forget that the crash in Oil was a leading indicator of the broader crash that started to break down back in January and then faster in February. There were plenty of opportunities to get out of “stahks” back then.

Again, one of the leading indicators of Quad 4 is inflation. Inflation (with oil being one of the primary indicators there) and growth are slowing at the same time. In this case, deeply.

This only insures that we have faster and future problems not only in Oil and Commodity related investments, but also on the Equity and the Credit sides.  

McCullough: Oil Is Leading Indicator Of Deep Quad 4 - 4 27 2020 10 58 16 AM