I had not realized Hedgeye is not just low quality but dribble
POSITION: 12 LONGS, 7 SHORTS @Hedgeye
The latest bear market correction lasted for 6 hours of trading. While we’re finally seeing an end to everyone and their brother trying to call the top, we aren’t getting any explicit sell signals other than very immediate-term TRADE overboughts.
The fundamental bull case (#StrongDollar, Commodity Tax Cut, Employment/Housing #GrowthAccelerating) is now strengthening as the market rises. And now Treasuries and Oil are starting to look like Gold did, before the epic fall.
Across our core risk management durations, here are the lines that matter to me most:
Immediate-term TRADE overbought = 1646
Immediate-term TRADE support = 1610
Intermediate-term TREND support = 1535
In other words, I keep getting signals for higher-lows of immediate-term support as the market continues to signal higher all-time highs of resistance.
Our bull case remains the non-consensus one.
I sure hope there are not many individuals paying for absurd snake oil like this nonsense.
Individuals can not beat the machines at their game. However, we can understand companies well and exploit the inefficiency the machines cause from time to time on solid companies.
The above is not low quality. It is irrational drivel.