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The Call @ Hedgeye | March 28, 2024

Below is a chart and brief excerpt from today's Early Look written by Hedgeye CEO Keith McCullough.

Since we already use objective, data-driven, and stochastic ROC (rate of change) models, I’m comfortable being uncomfortable about not having to “know” what the next answer to the alpha-test is…

That leaves my main challenge the same one that you all have – to be able to repeatedly fade my “feelings.”

Let’s take a live example like yesterday’s US stock market “correction” (or down day from the prior all-time high day) to work with our amygdala’s impact on our thinking for a bit:

A) Stocks (SPY, NASDAQ, Russell, etc.) opened higher, at fresh intraday all-time highs… then
B) Reversed lower, and dropped -1.2% to -2.3% intraday for SPY and QQQ respectively… and
C) Certain widely held large caps (TSLA, MSFT, NFLX, etc.) were getting pounded

What did you “feel” at the highs and lows of the day? More importantly, what did you do?

CHART OF THE DAY: What Do You See When You Look At "The Market"? - Chart of the Day