Tag: Covenant Capital

17 Sep 2010

5 points to consider with Gold at New all time highs in (in USD)

A few interesting things to note about Gold’s climb above $1,283/oz today to a new all time high. 1) This isn’t as crowded a trade as you would expect in managed futures, with only Accela, APA, Auctos, Covenant, and (going long yesterday) Clarke Worldwide –  the managers we follow with long positions. (only about 30% […]

24 Sep 2010

The trend is your friend….except when it isn’t

Several multi-market trend following strategies are enjoying a strong month in September thanks to extended moves in grains, metals, foreign currencies, and stock index futures.  And while these trends have been great for managers like Covenant Capital & Robinson – Langley (both up approximately 8% for the month), these markets have been nasty for short […]

01 Oct 2010

Managed Futures finish Q3 on up note

We are estimating the various managed futures indices finished September up between 1.25% and 3%.  [The NewEdge CTA Index was sitting at +1.56% through 9/29 (and likely gave some profits back on grain, gold, and currency reversals on 9/30).  This would put the Q3 gains for managed futures at about 4.3%, marking the best performance […]

02 Dec 2010

Managed Futures Down –2.75% to –3.25% in November

After a nice run of three consecutive up months, we are estimating that Managed Futures as an asset class were down between -2.75% and 3.25% in November (The Newedge CTA Index is showing a preliminary number of -2.78%). Systematic Multi-Market programs which were mostly long commodities and foreign currencies suffered the most due to mid-month […]

06 Dec 2010

That was fast…new 2010 highs for some commodities

That was fast…. After a sharp commodity sell off mid November from annual highs, last week saw several markets push back above their early November high points. Palladium started the ball rolling on Thursday (putting in a high 25% above its low just 12 trading days ago), followed by Silver, Gold, Crude Oil, Heating Oil, […]

05 Jan 2011

Managed Futures 2010 Performance…more detail

We mentioned in our last post that managed futures as an asset class posted gains in December to end the year up 9.20% (based on Newedge CTA Index), and now get into some of the details for varying strategy types within managed futures for both December and the year gone by. First up, a listing […]

03 Feb 2011

Gold reversal higher a mixed bag for managed futures

Interesting day today, with the US Dollar rally over 1%  sending grains and Sugar (-9%) off their recent multi-year highs…But Gold and Silver bucking the trend and rising about +1.5% despite the strong dollar, meaning the Gold rally is even more pronounced in a currency such as the Euro (down -1.5%). The pop up in […]

02 Mar 2011

Anatomy of a Trend Following Breakout… Crude Oil

At the risk of being one of those people who throws a bunch of lines, arrows, and squares on a chart and says… look at this…we have re-created a chart of Crude Oil over the past 20 months to highlight how a classic trend following trade looks. While there are hundreds of different ways to […]