I’m Buying Germany. Fading Rates. Avoiding NVDA.

If you missed The Macro Show this morning, here's what I'm doing right now—and how you can follow along for $99.

Dear Investor,

If you caught The Macro Show this morning, you already know what we're doing.

If not, here's your quick recap:

🟢 Gold: Bond yields popped again this morning, but they're pressing up against the top end of my Risk Range—and with a dovish PCE report coming tomorrow, I'm fading the move and staying long Gold.

🟢 Germany: One of the few real buying opportunities we've seen since German equities broke out into a #Quad2 acceleration. I bought more EWG this morning and added Finland (EFNL), bringing my Europe exposure to six allocations.

🔴 NVDA: Down -6% on accelerating volume. The hype trade is cracking. This is why I avoid crowded names when my signals say "fade it."

We're still in #Quad4 here in the U.S.—which means avoiding sectors like Consumer Discretionary (XLY) and Semis (SMH), and rotating into where real economic momentum is showing.

If you want to follow these moves in real-time—every day before the market opens—now's the best time to jump in.

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Let's get after it.

Keith McCullough
Founder & CEO, Hedgeye Risk Management

P.S. You don't need to guess where the market's going next.

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