Below is a chart and brief excerpt from today's Early Look written by Hedgeye CEO Keith McCullough.
SPY – took some time, but FOMO Futures have ramped above @Hedgeye TREND support of 3085 for the 1st time since the March #crash; to get this to hold up here (towards the top-end of my Risk Range), the powers that be need to suppress US Equity Volatility (VIX) below 26 and keep it there for longer than a New York looting minute.
I know, I know. I’m too “long-term” for the FOMO crowd on these long-term cycle positions. It’s weird because Institutional Investors always tell me they’re “too big to move” as quickly as I do…
But most of the time, I’m not moving from my core Quad Asset Allocations at all. Their benchmarks are!
It’s been 1 year and going on 9 months that I’ve been more bullish than anyone in the history of anyone (since President Pump) on Gold and Treasuries. So if those of you “long-term investors” panicking right now don’t mind, I’ll take my sweet mucker time on those.
I’ll deal with this short-cycle time-based-competition of USD/SPY, etc. in the meantime.