Below is a brief excerpt transcribed from Monday's edition of The Macro Show hosted by Hedgeye CEO Keith McCullough |
Oil is down -2.4% this morning. It should be down a lot more than that. We have immediate term downside on WTI closer to $35 a barrel.
That goes to show the objective and flexible nature of our model.
https://twitter.com/KeithMcCullough/status/1307972034450853890
You can also see that in Natural Gas today on the chart below. This morning it goes from bullish trend to bearish trend in a New York minute.
You need to remember ... who gets you out of this? We got out of this. And we realize there is a huge difference in commodities between Quad 3 and 4. In Quad 4, they are shorts. In Quad 3 they are longs.
Most people are painted as permabulls for Gold, Bitcoin, or “STAKHS.” At Hedgeye we aren’t perma-anything, other than permanently helping you risk manage your portfolio.