After studying the charts somemore it appears that the 6950 low today was a big support. So my plan for next week is short the 1st day or 2 then go long rest of week. Whats everyone else think?
CL Redux
- Thread starter schizo
- Start date
The long part is assuming the 6950 holds
here is the full story about bluegold.
Feb. 5 (Bloomberg) -- BlueGold Capital Management LLP, the hedge fund manager overseeing about $1.5 billion in assets, lost about 11 percent this year, according to three people with direct knowledge of the fundâs performance.
The fund, which returned 55 percent last year, invests mainly in energy, according to the people, who declined to be named because the information isnât public. Oil traded in New York dropped 8 percent this year. Crude headed for a 0.2 percent weekly gain as of 3:28 p.m. in London, after plunging 5 percent yesterday.
âStatistically speaking, given their trading strategy and volatility, a decline of 10 percent in a month or so can be expected,â said Jerome Berset, a fund manager at Capital Management Advisors in Geneva. He isnât an investor in BlueGold.
Crude retreated after last yearâs 78 percent advance on concern economies wonât grow fast enough to shrink inventories. U.S. oil stockpiles remain 4 percent higher than the five year- average while supplies of heating oil and diesel are almost 16 percent higher, according to the U.S. Department of Energy.
âWeâre operating as usual,â BlueGold Chief Executive Officer Dennis Crema said today by phone. He declined to comment on the fundâs performance.
Crema, 49, and Chief Investment Officer Pierre Andurand, 33, founded BlueGold in February 2008. The fund returned 380 percent between then and the end of last year.
Andurand started his career as an oil trader at Goldman Sachs Group Inc.âs J. Aron & Co. unit in Singapore in 2000. Crema spent 12 years at Vitol Group where he was a senior partner and head of trading before founding BlueGold.
Feb. 5 (Bloomberg) -- BlueGold Capital Management LLP, the hedge fund manager overseeing about $1.5 billion in assets, lost about 11 percent this year, according to three people with direct knowledge of the fundâs performance.
The fund, which returned 55 percent last year, invests mainly in energy, according to the people, who declined to be named because the information isnât public. Oil traded in New York dropped 8 percent this year. Crude headed for a 0.2 percent weekly gain as of 3:28 p.m. in London, after plunging 5 percent yesterday.
âStatistically speaking, given their trading strategy and volatility, a decline of 10 percent in a month or so can be expected,â said Jerome Berset, a fund manager at Capital Management Advisors in Geneva. He isnât an investor in BlueGold.
Crude retreated after last yearâs 78 percent advance on concern economies wonât grow fast enough to shrink inventories. U.S. oil stockpiles remain 4 percent higher than the five year- average while supplies of heating oil and diesel are almost 16 percent higher, according to the U.S. Department of Energy.
âWeâre operating as usual,â BlueGold Chief Executive Officer Dennis Crema said today by phone. He declined to comment on the fundâs performance.
Crema, 49, and Chief Investment Officer Pierre Andurand, 33, founded BlueGold in February 2008. The fund returned 380 percent between then and the end of last year.
Andurand started his career as an oil trader at Goldman Sachs Group Inc.âs J. Aron & Co. unit in Singapore in 2000. Crema spent 12 years at Vitol Group where he was a senior partner and head of trading before founding BlueGold.
Thanks for the post. But that doesn't address the nagging question about the impending margin call that would force these guys to bail out and, if so, is it so large like LTCM that it would destabilize the market. If not, why should I even care?
BTW hedge funds, by definition, are supposed to hedge their bets. Isn't that why they're called HEDGE funds in the first place?
BTW hedge funds, by definition, are supposed to hedge their bets. Isn't that why they're called HEDGE funds in the first place?
Yea, long one for the party.
Long avg 7137
s/l lod
s/l lod
flipped, working short side