CHART OF THE DAY: Does Your Broker Only Do "Stahks"? Tough Luck.

Given all of the newfound experts in Macro Proctology (picking bottoms), you’d think more people on ye Olde Wall would have nailed these higher-return ramps in Gold, Mining Stocks, Bitcoin, etc., eh?

And why did Gold and Silver correct overnight, laddie?

1. Both Gold and Silver corrected from the top-end of their respective @Hedgeye Risk Ranges
2. Because the 15-day inverse-correlation between USD and Gold got to -0.97 yesterday… and

… the USD Index is up a whopping +0.1% this morning. That A/B Test is plenty enough of a short-term explanation for me.

But, if the establishment says we’re in V-Shaped “recovery” for both the US economy and US Corporate profits, then why does the Bond Market (UST 10yr Yield = 0.60%), Gold, etc. not live within the asset allocations of their pales?

That’s easy. Especially with the ROC (rate of change) economic and profit data, there is no recovery in either:

1. The US Durable Goods #recession “bounced” to down -12.7% year-over-year in June (reported yesterday)
2. 38 of 66 Financials have reported an aggregate year-over-year EPS #recession of -38.1%