Below is a chart and brief excerpt from today's Early Look written by Hedgeye CEO Keith McCullough.
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You know that the SP500 still has a consensus net SHORT position of -24,440 futures & options contracts, right? You also know that in the last 3 years (i.e. when The Cycle’s ROC was #accelerating to a new Cycle High in Q3 of 2018) that there was a bubbly net LONG position in SPY of +247,179 contracts, right? Maybe you did, maybe you didn’t. But I’ll wall street bet you $1M of my own Burning Bucks that 90% of people don’t. |
