Below is a chart and brief excerpt from today's Early Look written by Retail analyst Jeremy McLean.
#Quad2 has been very good to Hedgeye Retail Institutional. Longs have done extremely well, the Chart of the Day shows the XRT return vs that of the S&P since we made the Quad2 pivot around early November. XRT up 60%, the S&P up 16%.
Not surprisingly in Quad2 some of our long-term shorts like KSS have gone against us, but top shorts introduced in 4Q20 (BBY, HD, and W) have been huge Alpha generators. Will we be as successful with a transition out of Quad2?
If we keep building, executing, and trusting the process, we think so.