McCullough: What Copper Tells You About Inflation

10/20/20 03:39PM EDT

Below is a brief excerpt transcribed from Tuesday's edition of The Macro Show hosted by Hedgeye CEO Keith McCullough

McCullough: What Copper Tells You About Inflation - 10 20 2020 12 41 12 PM

Lets look at Copper this morning!

This thing is RIPPING. Take a look at the chart below.

It is currently up 1.4% this morning to new cycle highs. What this tells you is that inflation is not going away. The probability of #Quad3 rising and #Quad4 falling continues because the #1 driver is Commodities.

It’s not just Copper. It’s Corn, Wheat, Cocoa, and Silver too. Gold went back to flat, then went up.

The way you notice these things if you are data dependent.

If you aren’t data and signal dependent, then you aren’t doing this the right way.

Copper continues to be bullish trend, in as much as Dr. Kospi and China are as well. And you know why? In equity terms, we are long China!

Remain flexible and learn how to position yourself based off of data.

McCullough: What Copper Tells You About Inflation - 10 20 2020 1 51 28 PM

© 2024 Hedgeye Risk Management, LLC. The information contained herein is the property of Hedgeye, which reserves all rights thereto. Redistribution of any part of this information is prohibited without the express written consent of Hedgeye. Hedgeye is not responsible for any errors in or omissions to this information, or for any consequences that may result from the use of this information.