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Popular Strategist Would Short ‘En Fuego’ Risk Assets Later This Summer
"Risk assets en fuego as Goldilocks schools us bears," wrote BofA's Michael Hartnett, in the latest installment of his popular weekly Flow Show series.
In the past, Hartnett has described himself as a "patient bear." I can't speak for him, but I know a lot of other bears, and their patience is wearing thin with major US benchmarks at YTD highs and pushing further into bull market territory.
This week was, of course, all about evidence of US disinflation, which Hartnett suggested was overhyped.
Given the ongoing risk asset euphoria, I was wondering if Hartnett or BofA has provided an update of greed-fear/sell-buy indicator? I’m curious where we are presently.
3.5, so closer to a buy signal than sell.
0.0 is “buy.” 10 is “sell.” But remember, that thing is just an indicative metric. There’s no use trying to “reconcile” it with anything.
Got it. Thank you!
Completely non-correlated indicator – I was in Denali National Park 10 days ago and failed to see any bears.
Very funny….