Today's Exclusives

• Opalesque Exclusive: New research examines quantitative trend following as an equity risk hedge [more]

  Bailey McCann, Opalesque New York: New research from Nigol Koulajian founder and CIO, and Paul Czkwianianc, Head of Research at Quest Partners, a New York-based systematic fund, looks at how quantitative trend following could be used

• Opalesque Exclusive: Stratton Street predicts China and Australia currency link will be first of many [more]

  By Beverly Chandler, Opalesque London: May saw China and Australia agree a deal to directly trade the Australian dollar and the renminbi. Andy Seaman, Partner and Portfolio Manager, Stratton Street, explains that this

• Opalesque Roundtable: A $20m hedge fund in Singapore cannot be profitable [more]

  From Komfie Manalo, Opalesque Asia: Starting a hedge fund with $20m or less in capital in Singapore is no longer profitable said Christian Stauffer, founder and CEO of Eurofin Asia Group (EFA). Stauffer was one of the guests in the latest

Today's Other Voices

• Other Voices: Three 'game changers’ have limited contagion in European markets [more]

  This piece was authored by Melanie Rijkenberg, CFA, Associate Director, Pacific Alternative Asset Management Company Europe LLP. Since the start of the year we have seen a clear de-correlation in global markets and most n

• Other Voices: Great rotation? What great rotation? [more]

  In the article below, Alex McKnight, investment manager at GAM, an independent, active investment management firm, comments on why convertibles are catching investors’ eyes. We believe the "great rotation" is ov

More Exclusives

• 17. May. | HFRX Global Hedge Fund Index gains 1.16% through mid-May (4.98% YTD) [more]

  Opalesque Industry Update - Hedge funds posted a 7th consecutive monthly gain through mid-May, with the HFRX Global Hedge Fund Index gaining +1.16% ; the HFRX Market Directional als

• 17. May. | HFRU Hedge Fund Composite Index rises +1.43% through mid-May (3.77% YTD) [more]

  Opalesque Industry Update - UCITS compliant Hedge Funds posted the strongest gain since HFRU launch, with the HFRU Hedge Fund Composite Index rising +1.43% through mid-May. • HFRU E

• 16. May. | Newedge CTA index up 1.45% over April, 4.36% year to date [more]

  Opalesque Industry Update - Eight of Newedge’s 11 hedge fund indices showed positive performance during the month of Ap

• 15. May. | Barclay CTA Index gains 1.11% in April (+2.11%); systematic traders up 2.46% YTD [more]

  Opalesque Industry Update: Managed futures gained 1.11% in April according to the Barclay CTA Index compiled by BarclayHedge. The Index is up 2.11% year to date. “Rising prices for equities

• 15. May. | RBC Hedge 205 Index up 0.08% in April, (+4.23% YTD) [more]

  Opalesque Industry Update: RBC Capital Markets today reported that for the month of April 2013 the RBC Hedge 250 Index® had a net return of 0.80 percent. This brings the year-to-date return of the

• 15. May. | Opalesque Roundtable: Big allocators look beyond multi-strategy hedge funds to demand exposure and alpha generation [more]

  From Komfie Manalo, Opalesque Asia: Many large hedge fund investors have been investing directly to multi-strategy hedge fund managers, said David Walter who is responsible for Asian investments at the PAAMCO, a $9bn institution

• 15. May. | Opalesque TV: Acito: aligned interests, education are critical to credit investing [more]

  Bailey McCann, Opalesque New York: For $700m multi-manager hedge fund Gapstow Capital Partners, credit investing has a lot to offer. Chris Acito, CEO/CIO of Gapstow recently sat down with Opalesque TV to d

• 15. May. | Opalesque Radio: Threadneedle’s head of US equities celebrates re-emergence of US markets [more]

  By Beverly Chandler, Opalesque London: Cormac Weldon, head of US Equities at Threadneedle Investments, was recently interviewed on Opalesque Radio by Sona Blessing. Weldon manages the Threadneedle American, American Sel

• 14. May. | Barclay Hedge Fund Index gains 0.75% in April (+4.96% YTD); Pacific Rim equities up 13.50% in 2013 [more]

  Opalesque Industry Update: Hedge funds gained 0.75% in April, according to the Barclay Hedge Fund Index compiled by BarclayHedge. The Index is up 4.96% year to date. “Equity markets rose ag

• 14. May. | Greenwich Global Hedge Fund Index gains 0.79% so far in April (4.4% YTD) [more]

  Opalesque Industry Update – Hedge funds were up +0.79% in April 2013 posting their fourth straight month of growth in April. Distressed Securities managers led all strategies, adding +2.98% during the

• 14. May. | Opalesque Exclusive: Dynamic options emerge as volatility mitigator for retail investors [more]

  Bailey McCann, Opalesque New York: After 2008, many investors found their traditionally constructed 60/40 portfolios to be a little weaker than previously thought. Since then, investors find themselves with a variety of new investment products designed to provide greater diversification, althoug

• 14. May. | Opalesque Exclusive: CLOs, structured products, Japan attract the eye of fund of funds [more]

  Bailey McCann, Opalesque New York: The credit space is heating up with interest from funds and investors as they search for yield. Recent reports show that asset inflows to credit are holding steady and leverage is starting to creep back up. Credit strategies are also catching the eye of fund of

• 13. May. | Ineichen Research launches weekly momentum monitor [more]

  Opalesque Industry Update - Ineichen Research & Management AG (“IR&M”) has announced the launch of a new service, the IR&M momentum monitor, a wee

• 13. May. | SS&C GlobeOp Hedge Fund Performance Index up 1.44% in April (YTD Gross 6.29%), hedge fund flows advanced 0.63% in May [more]

  Opalesque Industry Update – The gross return of the SS&C GlobeOp Hedge Fund Performance Index for April 2013 measured 1.44%. (

More Other Voices

• 02. May. 2013 | Other Voices: The changing role of hedge funds in pension plan portfolios [more]

  This article was authored by Shahid Ikram, CIO at Aviva Investors, a global asset manager that is part of Aviva, one of the world’s largest insurance companies, and appeared first in Swiss daily newspaper Le Temps on Monday. Mo

• 02. May. 2013 | Other Voices: How the JOBS ACT will benefit hedge fund investors [more]

  This article was authored by Donald A. Steinbrugge, Managing Member of Agecroft Partners LLC, a third-party marketer based in Richmond, VA, U.S. It has been recently covered in the media that Mary Jo White, who became SEC chair

• 16. Apr. 2013 | Other Voices: A primer on AIFMD for U.S. advisers [more]

  This article was authored by Deborah Prutzman, Founder and CEO of New York based-RFG, which provides, among other things, regulatory and risk guidance. AIFMD—As a U.S. adviser, are you within its scope and can you avoid its reach?

• 05. Apr. 2013 | Other Voices: Ikos's Elena Ambrosiadou asks: "Has anyone learnt anything from the recent Cyprus maelstrom, and will it make a difference?" [more]

  This piece was provided by Elena Ambrosiadou, chief executive officer of Ikos Asset Management. Cyprus is in the middle of a financial maelstrom - where did it come from and what needs to be done about it now? Cyprus is the third

• 27. Mar. 2013 | Other Voices: Chasing shadows: should hedge funds shadow administrators? [more]

  This article was provided by Bijesh Amin, Co-Founder/Managing Director at Indus Valley Partners. To shadow or not to shadow At least that is the question facing many large hedge funds with assets well above the magical $1bn mark. The production of a portfolio NAV (Net Asset Value) is

• 08. Mar. 2013 | Other Voices: Demand for Change Post-Madoff - Due diligence in a changing economy [more]

  This article was provided by Zabrina T Barile and Wendy Toribio-Torres of HedgeOp Compliance, an IMS Group Company. The Madoff Investment Securities scandal in 2008 prompted significant reforms to the rules and regulations that govern the investm

• 27. Feb. 2013 | Other Voices: Regulatory change causes increased demand for AML programs [more]

  This article was provided by HedgeOp Compliance, an IMS Group Company. Anti-money laundering (AML) procedures, already in existence, were further enhanced by the US Patriot Act enacted by Congress in 2001 to amend the Bank Secrecy Act (BSA), ini

• 21. Feb. 2013 | Other Voices: Regulatory cases - Accident analysis of three regulatory complaints [more]

  This analysis was provided by Zurich-based due diligence service provider SwissAnalytics Ltd. Regulatory Complaints are informative, but often too late Regulatory complaints can usually only serve as an inspection after

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Valuation

Daniel Riediker

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A SQUARE 10 May 2013

Agriculture, Water, Energy Read More

NYMEX - CRUDE OIL (July) - Daily

Near Term Trend: Positive
Friday’s Close: $96.20 (- .44)
UPDATE: In our last report, the contract was trading $96.00, we stated, “$98.00 should be a near term peak”.
Subsequently, the very next day, the market traded up to $98.60 and that turned out to be the recent high. As of last Friday, the contract dipped down to the $93.70 region, before exhibiting a strong rally of $2.50 into the close.
Based on a daily close, $96.80 serves as pivotal key near term resistance.
A settlement above that point will produce a run to the $101.00 region. However, closing above that pivot is critical.