Below is a chart and brief excerpt from today's Early Look written by Hedgeye CEO Keith McCullough.
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Ask 70-80 MILLION of the people who just started trading stocks since April how they feel? Then ask the people who have no money to speculate on stocks (i.e. the 50% of Americans who had < $1000 in savings coming into COVID) how they’re feeling about their real cost of living this summer… With Natty Gas (long RRC in the PA) ripping towards $2.60 (+45% in a month), I’m thinking they were feeling a little hot! Oh, you don’t like paying for air-conditioning? Go live in a tent. Stock market is up. That’s all that matters. And who really cares how this ends until we get to another month-end payout? Long Tech and Commodity inflation has been awesome! |
