Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Barclay CTA Index -0.20% 89.88% -0.20%
With 89.88% of funds on the Barclay CTA Index reporting for January, the average returns are -0.20%
141 Capital posted a return of 11.61% for January. Not too shabby!
www.barclayhedge.com
thanks mtncabin
if that is correct, then there is a "hidden" $471,000 in the market cap.
For that hidden value to be 10% of the total, we'll need a market cap of about $4.5 million come conversion time in order for things to break about even between converters and non-converters.
Hard to tell where we'll be in two-three months, but as a non-converter, I hope we'll be in that ballpark by then. Boca Bobby on the other hand, is going to continue bashing! j/k :D (he converted most of his I think)
have a good day,
Gbathat
Thanks Nuk! That is great info and great news!
Knowing the ~# converted is also helpful for looking into the future.
let's ride!
gbathat
wow, big volume today...
almost 200M in terms of pre r/s numbers, without considering the preferred conversions
are we sure the faucet is not being turned back on?
The buyers have actually absorbed the volume pretty well.
Let's hope the volume dies back down soon though.
Peace,
Gbathat
Just as exciting is what they can do after reaching the break even point! If they can scale up those returns, this thing will be golden.
MC indicated (thanks MC!) that liquidity should allow incressing the sizes of each trade. How big those accounts can get while retaining efficacy is the key variable imo.
We're talking about small overhead and exponential growth potential... gotta love it.
Peace,
Gbathat
good news
not the tone I was expecting (Hey, we did a reverse split! p.s. if you read this PR carefully, you might find a link to our trading results which were phenomenal).
But I'll certainly take it.
update on the breakeven tipping point also good, and not delayed by much compared to last pr.
peace,
gbathat
Wednesday, 10 December 2008 08:31
CHICAGO, Dec. 10 /PRNewswire-FirstCall/ -- 141 Capital, Inc., (Pink Sheets: XXIS) announces that it commenced trading through its 141 Seasonal Trading Pool I, LLC ("STP1"), a pool organized under an exemption granted by Section 4.13(a)2 of the Commodity Exchange Act. STP1 will trade futures and options contracts listed on domestic exchanges in grains and the soy complex (CBOT, KCBT, MGE), energy (NYMEX, ICE), softs (ICE), meats (CME), interest rates (CBOT, CME), precious and strategic metals (CBOT, COMEX), and foreign currencies (CME).
STP1's system is based on trading seasonal futures and options spreads. Spread trading involves holding a long position in one future(s) or associated option(s) contract and a short position in a related future(s) or option(s) contract, or contract month, in order to potentially profit from an anticipated change in the price relationship between the two. Trading spreads generally reduces risks associated with price movements in markets, and, consequently, the volatility of those price movements.
141 Capital intends to generate revenues from the pool through a contractual relationship with STP1 including incentive fees of 25% of any new profits. Commencing the end of December 2008, 141 intends to post a monthly trading track record for STP1 on its web site (http://www.141capital.com) and through Barclay Hedge (http://www.barclayhedge.com). Depending upon the success of STP1, 141 Capital should achieve revenue traction sufficient to satisfy its fixed expenses during the first quarter 2009.
"Prior to commencing live trading, the Company traded the systems in a simulated environment for over three months. We are very excited about the results STP1 achieved during the simulation," stated Errol Stone, CEO of 141 Capital. "Since the pool is based upon high probability spread trading and duet to prevailing market conditions, we believe it to be a quality alternative to many traditional investment products."
ha!
name change? i'm pretty sure Scottrade updated us from xxis to ofon with no problem (which was the name change event).
The r/s event is what they are having problems with... wonder why?
peace Gmenfan
Gbathat
Still need to scale up first, imo, before we really take off
Won't be generating much revenue with one account
I am anxious to see if they can continue achieving such high returns when trading more money (necessitating more, or larger, trades/opportunities).
I looked through the CTAs on Barclays who had smaller minimum accounts, to see if they were also reporting higher returns, but they seemed much lower than 141's January returns, so I am hopeful there is more than scale at play here.
Time will tell.
peace,
Gbathat
$13,014.87
seems like a strange number to start trading with, yeah?
perhaps trading did begin in December, but since they didn't have a full month of data (started on the 10th or so?), maybe they could not put it in the database...
pure speculuation but...
3,014.87/10,000 = 30.1487%
That would be in line with some of the high ror's reported for December by other cta's. of course, 141 wasn't trading the whole month:D
All speculative, but it is fun to consider.
peace,
Gbathat
in reviewing an old email, I guess I did ask pretty directly
response was "cannot comment on Spooz" "talk to Paul"
have a good one
gbathat
saying a contract is not binding is not rescinding a relationship...
if bad blood between Spooz and Kaitrade, why doesn't Kaitrade just say, "We are no longer selling or supporting Spooztoolz."
What is stopping them short of saying that?
Guess we just have to wait and see.
Peace,
Gbathat
Peeved,
Last we heard from Bloomberg, Spooztoolz was still in the picture.
I agree the Kaitrade situation does not look good, though I have no evidence that Kaitrade is no longer supporting Spooztoolz- just evidence that they are not doing so publicly, nor are they talking about it; and they have another product that competes with some of the Spooztoolz concepts which appears to be their current focus.
I think the algoserver/patsystems info is very interesting, though we have no concrete evidence that it is our algoserver... too many similarities though, imo.
My hope is that things are progressing slowly behind the scenes and that this quiet will end soon.
I have to say that the waiting game is getting old, as are we.
Peace,
Gbathat
and let's note the date on that announcement/update of Feb 9 was it?
sounds pretty current and awfully spoozy
missed this the first time...
"Other functional improvements included an enhanced Microsoft Excel plug-in capability to enable a broader population to use the functionality and Pro-Mark Control, which enables an appropriately mandated super user or administrator to monitor or intervene on any order or trade account."
http://moneyam.uk-wire.com/cgi-bin/articles/200902100700080476N.html
interesting link about state of affairs at Patsystems... same company that has Algoserver, which is a Spooz trademark
http://moneyam.uk-wire.com/cgi-bin/articles/200902100700080476N.html
Some particularly interesting tidbits...
Within 2008 we launched an extension to our capability to support the broadest possible range of products and trading styles with an extension module to our existing SyOMS system.
SyOMS is a Patsystems tool that enables traders to execute products that do not exist on an exchange, such as a stop, time triggered or limit orders, by simulating their existence.
The new extension module to SyOMS is called AlgoServer and enables SyOMS to support a range of algorithms. The first release has a selection of algorithms provided by Patsystems but subsequent versions will enable users to introduce their own algorithms by way of our proprietary API.
In 2009 our focus will be to conclude the first live deployments of both Global Trading and Risk Monitor and to commence the first beta deployment of AlgoServer to one of our existing SyOMS customers.
----------------
Our key objectives for 2009 are as follows:
Consolidate our position within our existing customer base and leverage the opportunity from their potential rationalisation of their technology platforms to extend our position as their key supplier.
Generate new revenue streams from our range of new product offerings; Global Trading, Risk Monitor and AlgoServer.
Identify potential acquisition targets where our global sales and support capability, combined with our strong working capital and cash generation, can leverage long term growth and value.
Explore opportunities for further expansion in South America, greater China and the Indonesia & Singapore region.
----------------------------
Deployment of Global Trading, our new core offering, was delayed during the year due to integration issues and, as was reported at the half year, is not expected to contribute to revenue materially until the second half of 2009.
The latest version of Global Trading, version 1.1, is functionally equivalent to the current core of the existing system and is fully compatible with the current trading screen versions of J-Trader and Pro-Mark, as well as all of our existing exchange connectivity.
Deployments of Global Trading are scheduled with existing customers during 2009 and Macquarie Bank Limited and Morgan Stanley have contracts for its deployment in place.
http://www.slideshare.net/fedfunz/KaiTradeProduct-Info10
Jim's doing slideshows now...
thanks for posting it here Seek, that's where I meant to post it...
I think, based on those numbers, that what 141 has accomplished cannot be that easy. Otherwise, wouldn't there be many other small trading pools reporting the same levels of returns?
I'm looking forward to more details from the company.
Have a good one,
Gbathat
with 75.19% of the CTA's on Barclay's CTA index reporting January results, the average return is -0.03%
compared to +11.61% for 141 Capital's STP1
also interesting is to do the CTA search using a filter on compound annual return (no name search, use statistics tab).
For compound annual returns >30%, the list shrinks to 98 CTA's
For compound annual returns >50%, the list shrinks to 42 CTA's
For compound annual returns >100%, the list shrinks to 18 CTA's
For compound annual returns >200%, the list shrinks to 7 CTA's
Let's hope we can keep this level of return consistently, and as we scale up...
Peace,
Gbathat
worm, first, the ibox says the date 6/30/08 with those numbers
personally, i've been assuming the a/s of 5 billion was maxed out since then
however, the company recently did a preferred shares conversion to reduce the o/s
they also just did a r/s by a factor of 175
for my estimates, i'm using 5e9/175 until we get more info.
Good luck to you.
Gbathat
http://kaitrade.blogspot.com/
Unwin strikes again with more poetry about his plug-ins blah blah blah
looks like Kaitrade is really focused on the concept of rapidly implementing trading strategies (converting ideas to code that works with a traders systems). This concept was one of the hallmarks of Spooztoolz, but perhaps it was too difficult to go from coding within Excel into platforms written in a bunch of unique codes.
Good news is that Kaitrade Accelerator appears to only compete with a small fraction of the Spooztoolz platform. So the possibility of each platform being successful still exists, imo.
have a good weekend everybody... hopefully we'll get a heartbeat from Spooz sometime this month. I'll be worried if no financials by month's end (admittedly, I am already a little worried, though still hopeful).
peace,
gbathat
It would be interesting if many brokers were short and were forced to cover with the new symbol.
However, since we already went through one symbol change, I imagine that process would have already taken place... but perhaps not since there were no splits or conversions involved.
It is taking a while...
Peace,
Gbathat
more soup
http://www.techweb.com/article/showArticle?articleID=213403552§ion=News
February 11, 2009 (09:05 AM EST)
Tradebook Launches New Futures Trading Algorithm
Read the Original Article at Advanced Trading
Tradebook Launches New Futures Trading Algorithm
Bloomberg Tradebook has introduced a new algorithm that enables futures traders to execute intra and inter commodity spread strategies algorithmically in the same way that outrights are traded. The new algorithm provides traders with execution anonymity on their spread strategies. Because each leg of the spread is handled as an outright transaction, each side of a trade can be routed to the same or different brokers and reassembled back together when cleared into the trading account. The algorithm seeks to reduce potential price slippage by working the spread algorithmically (rather than the traditional manual method). Also, algorithmic responses to market conditions may improve the chances that traders achieve their price targets, enabling them to put on larger sizes.
The new futures legging algorithm is impressive owing to a great improved speed of execution and outcome," said Brian Coffaro, the global futures product manager for Bloomberg Tradebook, in a press release. "In addition, the algorithm enables traders to take greater control of their orders and be able to build in parameters to change the specifics of a trade should the market move away from a desired price," he said.
I agree MC- the apparent lack of dilution is extremely encouraging.
I also agree that putting a PR into an illiquid market is not ideal and might explain the delay. If there are too few shares available, the pps could rocket and then retract as more shares become available. Personally, since I'm not flipping, I do not want to see a huge spike. Nice and steady rise is fine with me.
I think this delay is a problem with the finra policy to change symbols for such potentially major material events... and it may give folks who carefully track companies an advantage over the general market.
Peace, Gbathat
Good to hear from you Allie!!
Hope all is well... things are certainly starting to happen fast around here, which is a welcome change.
Take care,
Gbathat
pps going up post r/s with no PR, gotta like that!
I imagine the chart will start popping up on many radar screens... launching a robust PR at such time could work nicely for us.
good luck and peace to all.
gbathat
wow, that starting balance is about an order of magnitude less than I was expecting
good news is then never went below the starting value
question is how will the efficacy scale up?
I don't think news will come until the brokers get their ducks in a row regarding the symbol update and reverse split conversion.
It might be really frustrating for some people if they are unable to sell during/after a decent run. So in order to be fair, I think 141 should wait to PR until those logistical matters are addressed.
In the meantime, may be a good buying opportunity, if dilution is not in the picture... in my opinion. 0.01 is a lower price than 0.0001 was a few days back, so I personally might grab a few more. Still risky though without fully understanding the financial state of the company and associated dilution potential. Last time I bought this stock (thankfully not much at all) at .01, it eventually reached .0001! And yes, I averaged down substantially.
Have a good day everyone.
Peace,
Gbathat
Things I hope to learn about 141 Capital
1. Current Share Structure and dilution policy
2. Trading results details- account size, and whether the account is comprised of 141's money or someone else's money
With that info, I think we can start to value this thing properly and invest accordingly.
Without it, the risk is high, imo.
However, the trading results were good. Were they as good as expected by 141? I don't know, but perhaps. If that were the case, that could give us a sense of the revenues, since previous PR indicated that they expect to cover operating expenses with their revs. I would think they would have made this prediction conservatively.
So what are their operating expenses?
Difficult to speculate... perhaps I should just wait! :D
peace,
gbathat
I’m looking at ONCP quote page on zecco…
Shows last trade at 0.40 on Feb 6, 2009
Bid 0.31
Ask 0.51
Not sure how accurate b/a is but sure would be a nice way to start the day... :D
Not sure how this thing could have traded on Friday... maybe afterhours?
Okay, time to work for real.
Gbathat
$3.05 was the old share price of ONCP at one point.
http://www.secinfo.com/d13vF9.1MS7.htm
Interesting day ahead!! Surprised that there is no news yet... they usually get it out early.
Seeya at lunchtime:D
gbathat
Hey Seek,
I think they may calculate this monthly... not sure though. That would explain why ours is 0% though.
Maybe taking a look at some of the other funds would give some clues.
Gbathat
Nope, just the fact that WE USE SPOOZ is on 141's website.
this is getting interesting...
Bashers popping out of the woodwork will only increase the volume of posting here, which will only increase the attention come Monday.
Just need to keep posting the fact that 141, a CTA, reported 11.61% returns in January versus the Barclay CTA average of 0.07%.
The crazy thing is that with ~60% of funds reporting, the average return for January is .07% !!
And 141's return was 11.61% !!!
Simply amazing.
Actually, when the 141 Capital page is updated on Barclay, it should indicate the $FUM, funds under management... still a blank at this point.
11.6% return in one month is crazy!!!!! I was so excited when I checked the board this morning! wooohhooooo!
This page will hopefully give us a clue as to how much money they are managing...
http://www.barclayhedge.com/research/cta-rankings.html
it has not been updated for January, but I imagine 141 will make the top ten with their performance.
thanks MC, bummer.
wierd how the numbers lined up so coincidentally.
also, i accidentally used 1.86% instead of the correct value, 1.61%
changes pps valuation to ~$0.21
That came from the hedge fund report on barclay's for 141 Trading Group LLC which started trading in July 2008 with $3M and increased it to 3.11M by Dec.
http://www.investor.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001436770&owner=include&count=40
I think this was the testing account used by Paul & Co. before going live on behalf of 141 Capital.