John Russell

[Keith McCullough @KeithMcCullough]

Any amateur can make money in an up market

Can you make money in down one?

[Nick Timiraos @NickTimiraos]

Dallas Fed President Lorie Logan sounds like someone who is prepared to vote for a rate increase:

“I currently believe modestly higher interest rates would better balance the outlook and risks for the FOMC’s dual mandate goals.”

Despite the favorable June CPI, “one month of relief is not enough. It is time to finish the job of restoring price stability.”

“My best judgment is that inflation appears to be heading toward the mid 2’s—not all the way back to 2%.”

[Keith McCullough @KeithMcCullough]

Jenkins @HedgeyeGLL carrying on the legacy of my great friend, teammate, and stock picker Todd Jordan #RIP

[Andy Constan @dampedspring]

Chip stocks multiples are low. Because they are likely to give all their pie slice to Fab5 Freddy. Fab5 Freddy Multiples are pretty pricey. Unlike Chips whose growth expectations are essentially for double the FAB5 has a high multiple and high but not nuts growth. Tougher to grow into the multiple give FAB real world constriants.

[Jim Bianco @biancoresearch]

Money managers have abandoned positioning for $200 oil ... does this now increase the risk of $200 oil?
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The CFTC was closed today, so the Commitment of Traders report for June 16 will be released on Monday.

But the Intercontinental Exchange released its data for London's Brent Crude Oil Contract for June 16 today.

Here is the net (long-short) for managed money (aka "money managers").

The chart starts on April 30, 2020 (beginning of the post-COVID recovery).

In the last four weeks, these managers went from a fairly long position (see the May 19 position in the bottom panel) to a fairly low net long position (June 16). Note that these managers are rarely net short (below zero).

@CommodMkt @Rory_Johnston

[Keith McCullough @KeithMcCullough]

“They start to think everything they do is smart, even when its dumb.”
- @RyanHoliday

[Hedgeye @Hedgeye]

Bianco: The U.S. Military Has Made A Mistake

🔊

Jim Bianco @biancoresearch says the U.S. is facing a crisis it isn't built to solve.

The war in Ukraine proved that wars are now "fought with unmanned drones... and very cheap weapons in mass abundance."

Iran has hundreds of them. The U.S. has expensive interceptors. The math doesn't favor the defender.

Bianco points to the recent Qatar gas field strike as the template, nearly every drone was knocked down, but the one that got through sent natural gas prices up +50%.

"We don't have a defensive shield against these kind of attacks," he warns.

Watch the full conversation: https://t.co/d2loeuiB21

[Keith McCullough @KeithMcCullough]

Here's another one of The Fam's US Equity ETFs ripping to new all-time highs today $EQRR

We are getting ZERO questions about this and $XTL

*The green circle is WHEN Hedgeye Nation engaged and bought it

[Nick Timiraos @NickTimiraos]

Fed research suggests the inflation engine may be running differently across advanced economies since the pandemic:

1/ More categories continue to see price growth above 3%, with broad-based wage growth in services appearing to be a key driver

2/ Even categories with flat or falling prices aren't pulling the overall number down the way they used to

3/ Pre-pandemic models consistently underpredict current inflation, suggesting the relationship between price dispersion and aggregate inflation may have shifted https://t.co/fjdQTsaV8e

[Marko Papic @Geo_papic]

Everyone looking to travel for vaca right about now...

https://t.co/K4yyvUDQIH

[Jim Bianco @biancoresearch]

This Bloomberg headline crossing now may explain the new downturn in crude oil prices (repost)
---
*US NAVY ESCORTED AN OIL TANKER THROUGH THE STRAIT OF HORMUZ

[Matt Jones @KySportsRadio]

I will note that the official who made this call was the one the absolute farthest from the play and with his view completely blocked

[Keith McCullough @KeithMcCullough]

What matters isn't Talking Points from CNBC on Fed Decision Day

What matters is performance

19 of 23 (83%) of our positions are beating the S&P 500

Average relative performance is 27.9% (w/o $SLV is 19.2%). 14 of 23 (61%) of our positions are beating SPY by double digits

It's simply a better way

[Jurrien Timmer @TimmerFidelity]

At least for now, the US stock market is rebalancing in one of the best ways possible. The mega caps seem to be taking a rest while the rest of the market breaks out. For now, the broadening is not a zero sum game.

[John Calipari @CoachCalArk]

The National Championship Hall of fame coach is having a birthday today!! Happy birthday to Coach Nolan Richardson. Appreciate all he has done and all the support he has given us.

[Keith McCullough @KeithMcCullough]

The Hedgeye Community doesn't need external threats.

Clear process, transparent data, real results, zero political noise.

[Keith McCullough @KeithMcCullough]

USD and FX Volatility (particularly important day, it is)

[Matt Jones @KySportsRadio]

I am happy for Liam Coen. He will be a great coach. And he should have taken a promotion, like anyone would

But the whole Jaguars/Tampa situation is similar to what happened at Kentucky.

[John Russell @jrussell78]

@HaterReport_ Amazing