Wed, Sep 3, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Hedge funds the most short the NASDAQ 100 since August '11 - BAML

Wednesday, November 28, 2012

Bailey McCann, Opalesque New York: Hedge funds sold the NASDAQ 100 futures to $0.5bn net short from $0.9bn net long last week, these figures are the lowest since August of 2011 according to a new report from Bank of America Merrill Lynch Global Research. Lead hedge fund analyst Mary Ann Bartels of Bank of America Merrill Lynch says they view the change "as a more contrarian bullish sign for the index." Technology is the most oversold and shortest sector.

The investable hedge fund composite index was down 0.16% for the month, as of November 21, compared to down 1.50% for the S&P 500. In terms of strategies, Convertible Arbitrage and Merger Arbitrage are the best performers month-to-date, up 0.54% and 0.38%, respectively; CTA Advisors performed the worst and was down 0.69%. Funds aggressively sold the S&P 500 futures by ~72%, to $2.4bn from $8.6bn notional last week.

In commodities, wheat moved out of a crowded long for the first time since July of this year. Funds also sold soybean but in a change from last week bought corn. Funds are again buying gold, silver and palladium, partially covered copper, yet sold platinum. In energy, funds bought crude oil and gasoline, sold heating oil, and added to their shorts in natural gas.

......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing
  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Study shows what resonates with investors: 'Unwavering', 'passionate' beats 'committed', 'dedicated' and more surprises[more]

    Komfie Manalo, Opalesque Asia: A new study by Pershing, a unit of BNY Mellon company, showed that an effective value proposition strengthens audience connections and fosters growth, yet many advisors have had little objective guidance in formulating such statements until now. In the study

  2. Legal – GE Capital and Petters-related hedge fund in legal battle, SEC sanctions Donald Brownstein's hedge fund over conflicts of interest[more]

    GE Capital and Petters-related hedge fund in legal battle From Startribune.com: A billion-dollar legal battle is brewing in Florida over who knew what and when about the decade-long Ponzi scheme operated by former Wayzata businessman Tom Petters. The bankruptcy trustee for two failed Flo

  3. Managed futures' global diversification is important in next phase of economic recovery[more]

    Komfie Manalo, Opalesque Asia: The global diversification provided by managed futures may prove to be extremely valuable as the markets enter the next phase of the economic recovery, said Campbell & Company, a pioneer in absolute return invest

  4. Comment – Why you should avoid the hottest hedge fund hands, Swedroe attacks Hussman over risk management, relative value strategy[more]

    Why you should avoid the hottest hedge fund hands FromCNBC/Yahoo.com: Investors who don't have money with Pershing Square Capital Management are likely salivating at the hedge fund's industry-leading 26 percent return from January through July. But investing with Bill Ackman and other to

  5. Ex-UBS prop trader's hedge fund Manikay Partners eyes UK launch[more]

    From eFinancialnews.com: Manikay Partners, a $1.7 billion US multi-strategy hedge fund set up in 2008 by a proprietary trader from UBS with backing from Goldman Sachs, is planning to open in the UK. New York-based Manikay's move into Europe comes after Financial News revealed on Monday that Aurelius