Is the Goldilocks trade back on? While longer-term global growth and macro trends argue otherwise, a dovish FOMC and a dip in 10-year US yields has sentiment on the rise in the short term.
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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