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Below is a brief excerpt transcribed from Thursday's edition of The Macro Show hosted by Hedgeye CEO Keith McCullough |
What is actually working in the market right now? Well, just take a look at our Sector Performance board below to see that.
You can see that damndest thing happened! I realized that I haven’t had a question on Utilities (XLU) in two weeks, because they’re up 1.37% for September. Apparently we only get questions on stuff if it goes down.
Just look at REITs up!
Now here’s a thought. What can you own in both Quad 3 and Quad 4? You guessed it, REITs!
And what do you get rid of from Quad 3 to Quad 4? Tech.
Nailed it.
Now, I’m not buying REITs up here. But if we get this kind of Volatility complex, the main thing that would concern me about buying them along with Utilities (or anything else for that matter) is if the VIX gets above 30.
We currently have #NazVol right now, and that’s the big problem in the market today. The consensus long position is long the NASDAQ don’t forget. We got you out of that.
