Below is a brief excerpt transcribed from Tuesday's edition of The Macro Show hosted by Hedgeye CEO Keith McCullough.
Big move on the Euro here this morning after the German constitutional court came out and said: “Hey! All this stuff that the ECB is doing is unconstitutional!”
This is a major problem obviously for the European currencies. Bond yields in Europe bounced on that, and it wasn’t just in Italy. It was actually a broad based bounce in bond yields.
That’s what helped drive bond yields higher here in the U.S. and drove Gold lower.
All of that is interconnected. So you can book some gains on the short side of the Euro. That’s one of the two short positions that I actually kept on yesterday.
I covered 12 different shorts over the course of the 3 days that the Russell went down 10%.
You want to short high, cover low, rinse and repeat, and not really have to apologize for going both ways.
