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

McCullough: Get The U.S. Dollar Right = Get Bitcoin Right - 10 22 2020 11 44 49 AM

Let's analyze the movement in the U.S. Dollar.

The dollar got smoked yesterday and the best way to capitalize on that was Bitcoin, which makes my bitcoin fans happy I bet.

McCullough: Get The U.S. Dollar Right = Get Bitcoin Right - 10 22 2020 12 13 21 PM

The strongest correlation for the 15-day short term case against the dollar is Bitcoin. That is the #1 way to play the other side of short dollars (that includes a trending 90 day basis and on an immediate term basis for 3 weeks or less.)

You can also note that in Dollar terms, a very good thing for US Equities is a correlation on a short term duration starting to burn off.

I’ve been waiting for it to go below -0.5 and you can see that on the SPYs this morning.

McCullough: Get The U.S. Dollar Right = Get Bitcoin Right - 10 22 2020 12 13 54 PM