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HAM FOR LUNCH | @HedgeyeAM
Join Hedgeye CEO @KeithMcCullough and 3 portfolio managers for a candid conversation on where they're seeing opportunity and risk in today's markets.
📅 Tuesday, October 20 at 11:00 AM ET
Click for FREE access, Live or On-Demand:
Hedgeye retweeted
The long-term oil chart is absolutely fascinating when considered alongside the fact that the world is 1) draining inventories at a record pace and 2) actively blowing up production capacity on a daily basis.
Signal Strength Stocks 📈
These are the names our community has been riding.
Signal Strength Stocks uses Hedgeye CEO @KeithMcCullough’s proprietary signaling model to identify stocks with Bullish TRADE and TREND signals.
Get access to the full list, updated daily: accounts.hedgeye.com/product…
The Poker Table Theory Of Short Covering
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On the latest HAM for Lunch, Hedgeye CEO @KeithMcCullough and @HedgeyeAM Portfolio Managers Sam Rahman ($HGRO) @Hedgeye_HGRO and R. Patrick Kent ($HELS, $HEFT) @RPKInvestor broke down the anatomy of last week’s liquidation and what short covering really looks like.
The trigger was a $28 billion tech hedge fund liquidating over two to three days.
The setup heading into last week had been a barbell, leadership software and mega-cap tech on one side, semis as the hedge on the other. When the fund blew up, it didn’t just dump semis, it dumped its software winners too.
As Sam put it, Friday was “the poster child of what a liquidation looks like,” with every software name, mid and large, down five to 10%.
What rallies last in a breakdown is high short interest, and Keith’s framing is a poker table.
You’re playing against someone who’s “absolutely hammered and sucks at poker.”
It only gets worse as they have another drink, betting the wrong way, until they “finally just give up and go to bed,” or run out of money, or both.
That’s short covering, the moment the shorts stop working and the market frustrates you on the upside before rolling back over.
To watch the full episode, click here: app.hedgeye.com/insights/188…
Hedgeye retweeted
We were honored to ring in a year of growth at the @NYSE. Thank you to the clients, investors, and partners who made it possible.
Hedgeye retweeted
U.S. refiners ran 16.65M b/d of crude in the week ending Oct 16, the most for mid-October in EIA weekly data back to 1982.
Prior record: 16.27M (2018). 1982: 12.13M. 1982-2025 avg: 14.24M.
Utilization 93.4% vs. 88.6% a year ago, in what is normally fall maintenance season.
Hedgeye retweeted
Every barrel the U.S. has in storage, SPR included, now covers 70.9 days of demand.
April 2020: 139 days
October 2000, pre-shale: 76 days
Now: 70.9 days
The thinnest cushion since January 2001. We became the world's biggest oil producer and still have less cover than Y2K.
“Total demand for your tokens may be going up, but if the price is flat or falling, then you’re not making more money.”
Global Technology Sector Head Felix Wang @HedgeyeTech explains why Chinese AI competition threatens Anthropic's growth.
Read the full article 👇
Why does @KeithMcCullough talk about his process AND his performance?
"Like any great brand, I'm going to market both my process and my performance." - 10/9/26 Early Look
Old Wall was never going to do it for him.
