Ole Hansen
Commodities have faced a torrid year and there’s no let up in sight warns Saxo’s Ole Hansen. While the price of crude has stabilised this week, Libya and the forthcoming OPEC meeting are keeping up the pressure. Other event risks including the ECB and FOMC meetings are also adding general commodity price pressures, he says.
Article / 11 December 2012 at 8:26 GMT

Turtle Model: Coffee close to breaking out again

Head of Equity Strategy / Saxo Bank

The last 24 hours have been good for Turtle Model performance with long USDJPY holding the line and short Heating Oil and Sugar moving down. Especially Sugar continues to be weak and as of this morning a last fourth unit short stop order has been placed for 35,000 pounds @18.66 which is very close to the current market price @18.70. 

Coffee is close to breaking out yet again. Remember Coffee has been the villain of recent trading losses because of intense mean reversion instead of trending. Two short stop orders have been placed for 2,000 pounds each @146.35 and @143.95. Two short stop orders have been placed on Heating Oil worth 2,500 Gallons each @289.36 and @286.81. See attached PDF for trading details.

The model is currently 4 units long USDJPY, 3 units short Sugar and 2 units short Heating Oil. See all open positions and account value below.

Turtle open positions

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2012_12_11_Turtle Trading Model (Original)


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