Below is a brief excerpt transcribed from Friday's edition of The Macro Show hosted by Hedgeye CEO Keith McCullough.
What happened yesterday in the sectors? Everybody was a loser!
In almost every sector. Look at the sectors on the chart below.
Is that the damndest bull market I’ve ever seen?
Take a look at the YTD column. I mean we have some bubbly-ness in Tech with a bit of a bullish Hedgeye trend. But is this a bull market?
No.
This is a bullsh*t market where people are buying Hertz when it goes from 1 to 5 to back to 2 and Wall Street will issue a billion whatever dollars on that.
Understand what’s going on here. History will not look kindly back on decisions some people make here.