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

McCullough: Be Honest. Did FOMO Get You To Buy "Stahks"? - 5 13 2020 12 39 52 PM

Tell me.

This is an honest question. How did you feel when the VIX was at 26-27 yesterday?

Did you feel something? Were you feeling like you should buy “stahks”? Were you feeling like you should sell “stahks”?

Then what did you feel when the market was down over 2% on the S&P into the close? For anyone who chased the February highs in "stahks" you have to be up 18% just to get back to break-even. It was a bloody mess across all sectors of the S&P 500 yesterday.

What did you feel then?

STOP WITH YOUR FEELINGS

For a long time I’ve been fading my own feelings. I built a mathematical model to do that. Now the Risk Range for the VIX quite clearly is 26.5 to almost 40.

So when you’re feeling whatever you’re feeling, just execute on the process.

McCullough: Be Honest. Did FOMO Get You To Buy "Stahks"? - sector performance