Today's Exclusives

• Opalesque Exclusive: South African equity-centric hedge funds post strong returns in August [more]

  Komfie Manalo, Opalesque Asia: South African equity-centric hedge funds reported strong gains in August and surged ahead with a solid set of returns, ahead of market indices following a moderately weak July, South African prime broker Peregrine

• Opalesque Exclusive: Overstock.com edges closer to first public issuance of blockchain equities [more]

  Bailey McCann, Opalesque New York: For all of the money going toward blockchain experiments at big financial firms, Overstock.com may be the closest to beating them to market. The company has steadily been building a blockchain based fintech business alongside its online retail arm. The subsidia

• Opalesque Exclusive: Modern investor tools (2): A platform that does the job for you [more]

  Benedicte Gravrand, Opalesque Geneva: A new series on technology providers that assist asset allocators. There is disruption in the investor part of the world of hedge funds, coming from platforms that can replace traditionally-run search and analysis. Here is one of them. L

• Redemption pressures on hedge funds abated in August [more]

  Komfie Manalo, Opalesque Asia: The redemption pressures weighing heavily on the hedge fund industry mostly abated in August, data provider eVestment said in its latest Hedge Fund Industry Asset Flow Report. After outflows in June and July nearl

• Trend reversals lead to losses as managed futures drops 1.52% in August [more]

  Komfie Manalo, Opalesque Asia: Trend reversals in August have led managed futures traders to lose 1.52% last month according to the Barclay CTA Index compiled by BarclayHedge. The Index is up 0.62% year to dat

• SEC charges Omega Advisors Leon Cooperman with insider trading [more]

  Bailey McCann, Opalesque New York: The Securities and Exchange Commission has charged Leon Cooperman, hedge fund titan and founder of Omega Advisors with insider trading. According to a statement, the SEC alleges that Cooperman purchased shares of Atlas Pipeline Partners (APL) in advance of the

Today's Other Voices

• Other Voices: Social Engineering: The human element to hedge fund hack attacks [more]

  By Mark Coriaty, Chief Strategy Officer, Eze Castle Integration As financial firms become increasingly interconnected and globalized, their dependence on cyberspace has skyrocketed. While this amplified reliance on the infobahn has accelerated productivity and growth, it has also exposed firms

More Exclusives

• 19. Sep. | Opalesque Exclusive: Investors, hedge funds weigh on greatest upcoming global risks [more]

  Komfie Manalo, Opalesque Asia: Financial management company ML Capital said that because of the unstable economic environment, more fund managers have pooled funds into a lot of the same positions in an attempt to hedge against this volatility.

• 19. Sep. | Opalesque Exclusive: Despite uncertainty investors plug money into European funds [more]

  Bailey McCann, Opalesque New York: Even though many European countries are dealing with slow growing economies, investors are still piling money into European private funds. Late last week, French private equity firm Ardian closed its sixth fund on €4 billion. The fund hit its hard-cap and was ov

• 19. Sep. | Opalesque Roundup: Fewer hedge funds launch but also fewer fold: hedge fund news, week 37 [more]

  In the week ending 16 September, 2016, HFR said that hedge fund launches and liquidations fell in the second quarter of this year from the first quarter; Rory

• 16. Sep. | Opalesque Exclusive: The idiosyncrasies of European activist investing [more]

  Benedicte Gravrand, Opalesque Geneva: Activist investing is in vogue in North America, and well publicised by the brash actions of managers such as Carl Icahn of Icahn Enterprises, Bill Ackman of Pershing Square and Paul Singer of Elliott Management. It is slowly gaining ground in Europe, with a

• 15. Sep. | Opalesque Exclusive: The beauty of small-cap stocks [more]

  Benedicte Gravrand, Opalesque Geneva for New Managers: The beauty of small-cap stocks, according to hedge fund manager Indraneel Das, is in their standard deviation: "They encompass a very rich universe with a wide

• 14. Sep. | Opalesque Exclusive: Investment titans offer top ideas at Delivering Alpha [more]

  Bailey McCann, Opalesque New York: Some of the biggest names in asset management weighed on the state of world affairs and world markets, at the Delivering Alpha Conference held yesterday in New York. Panelists were generally gloomy, but tucked in among the worry were a few of their best ideas.

• 12. Sep. | Opalesque Roundup: Latest research vindicates hedge funds' stock picking skills: hedge fund news, week 36 [more]

  In the week ending 09 September, 2016, stocks where hedge funds own a large percentage of the outstanding shares tend to outperform the S&P 500 by about 3.6% a year, research firm

• 07. Sep. | Opalesque Exclusive: Singapore hedge fund Pangolin frustrated with ASEAN politicians [more]

  Komfie Manalo, Opalesque Asia: Singapore-based hedge fund manager Pangolin Investment Management has expressed frustration over ASEAN politicians who have let down their respective countries. Pangolin Director James Hay said that the potentia

• 06. Sep. | Opalesque Exclusive: Compliance for smaller hedge fund managers; view from Connecticut [more]

  Benedicte Gravrand, Opalesque Geneva for New Managers: Consultant Lisa Snyderman shares her experience as an outsourced chief compliance officer (CCO), and a few tips for small and new fund managers. Lisa S

• 05. Sep. | Opalesque Exclusive: Update: Hong Kong manager launches emerging hedge fund program [more]

  Benedicte Gravrand, Opalesque Geneva for New Managers: A Hong Kong-based asset manager that runs a hedge fund platform is launching a funding program for emerging managers, confident that flows will return to China’

• 05. Sep. | Opalesque Roundup: Investors redeem from hedge funds at a scale comparable to 2009 global financial crisis: hedge fund news, week 35 [more]

  In the week ending 02 September, 2016, Preqin said that the hedge fund industry saw $34bn in asset withdrawals in the first half of 2016, as total AuM reached $3.11tln. However, separate data from eVestment showed that that investors siphoned off some $25.2bn in July ($55.9bn in H1), a scale

• 02. Sep. | Opalesque Exclusive: CTA Amplitude elongates holding periods with new strategy [more]

  Benedicte Gravrand, Opalesque Geneva: The managers of Swiss CTA Amplitude, who already run three short-term trading strategies, are following their own call for portfolio diversification. They took the medium-term trading route with a new strategy fittingly called Adagio, launched on 1st Septembe

• 01. Sep. | Opalesque Exclusive: CTA ventures into perilous freight market with new systematic program [more]

  Benedicte Gravrand, Opalesque Geneva: Traders might include shipping derivatives in their portfolio, analyse spreads and make bets, but few focus solely on this asset class. Especially since it has not fared well in the past eight years. But a Florida-based commodity trading advisor has launched

• 31. Aug. | Opalesque Exclusive: Secondary deal volume declines in the first half of 2016 [more]

  Bailey McCann, Opalesque New York: A new report out from secondary market broker Setter Capital shows that secondary deal volume is down some 10 percent for the first half of 2016. The downward trend follows several years of record breaking volume in the secondaries market. Setter's annual su

More Other Voices

• 07. Sep. 2016 | Other Voices: Are the capital markets headed for a major correction and will hedge funds help or hurt? [more]

  By: Donald A. Steinbrugge, CFA – Founder and CEO, Agecroft Partners Major corrections of the capital markets are a risk that investors always need to consider. The question is not if, but when will it happen. Investors need to consider: What is the probability of it happening in the near future?

• 25. Aug. 2016 | Other Voices: Risk parity - looking at risk through a different lens [more]

  By: Chris Tucek, a Partner with Aon Hewitt Investment Consulting in Chicago Our outlook calls for low returns by historical standards for traditional asset classes over the medium term. Looking backward, we have experienced higher levels of equity market volatility in the past year with notable

• 10. Aug. 2016 | Other Voices: AIFMs must ensure investors don’t pay for Brexit passporting fall-out [more]

  The loss of AIFMD passporting rights that enable UK-based alternative fund managers to market products across the EU has been one of the industry’s main concerns since the Brexit vote. Tim Thornton, COO, Fund Services, MUFG Investor Services, explores potential implications. "Whether t

• 26. Jul. 2016 | Other Voices: Artificial intelligence: surviving the next black swan event through next generation algorithmic trading [more]

  By Michael S. Young, Chief Operating Officer and Co-Founder Mediatrix Capital Sophisticated artificial intelligence (AI) is enhancing the Forex investment approach with next generation algorithmic systems that are able to perform human tasks such as visual perception and multi-input decision-mak

• 21. Jul. 2016 | Other Voices: Misconception of hedge funds [more]

  This article was authored by Logica Capital Advisers, Los Angeles. Investors use hedge funds (HFs) for a variety of reasons, including diversification and improved risk adjusted returns. However, our observation has shown that HFs carry some misconceptions about their benefits. We hav

• 14. Jul. 2016 | Other Voices: How UCITS funds can expand their investor base into the U.S. [more]

  By: Michael G. Tannenbaum Undertakings for Collective Investments in Transferable Securities (UCITS) have become increasingly popular as an attractive cross-border investment fund product. UCITS funds are readily sold in the European Union under its harmonized regulatory regime, allowing member n

• 30. Jun. 2016 | Other Voices: UK votes to leave the EU: What does it mean for asset managers? [more]

  Authored by partners at global law firm Dechert LLP. The voters have spoken. Britain will (absent any new deals) leave the EU.  Under the EU Treaty, the exit process should take at least two years. During this two-year period, UK-base

• 21. Jun. 2016 | Other Voices: MPI cautions institutional investors not to rush for the 'Hexit’ without quantifying portfolio efficiency benefits [more]

  Institutional investors should undertake a quantitative analysis of their hedge fund investments’ long-term contribution to overall portfolio efficiency, rather than basing their asset allocation strategies on a short-term comparison with equity benchmarks. This is the conclusion of a new resea

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CME - S&P 500 INDEX (CASH) - Daily

Near Term Trend: Positive to Neutral

Friday’s Close: 2139.16 (- 8.10)

UPDATE: We certainly thought the Index would not trade above 2215.00, for several weeks stated, the market looked tired. Subsequently 2194.20 was the highest the Index traded.

Volatility has picked up post summer, and the Index had its largest single day drop since the third week of June, prior to this past week. October is traditionally a month the Equity markets retrace, and maybe this is a preamble to that on the horizon.
Our theme in our last report six days ago was as follows. “Old resistance at 2121.00 may act as new support (see chart), but I doubt it will”.

Thus far support at 2121.00 (keep in mind this is my proprietary support / resistance line which has been in place for five months), held this past week as the Index touched the line four out of the last five days.