I don't consider CDO to be the same as CDM since many holdings change month to month. The trading strategy suits the current environment IMO.
It is hard to know how the fund will perform from month to month. However, last month's longs if still held are showing a great win rate of 19/28 with a mean increase of about 7%. Cash levels (circa 40%) are similar to shorting less the risk but missed opportunities in any performance. Hard to short a market that seems to have bottomed temporarily. The few shorts the fund had in April similarly have high win rate at 7/8 with mean gains on those shorts of 10%. I wonder if CDO will (or has) unloaded their MFG short. Some serious gains in that MFG short have been made. Getting risky holding MFG short IMO.
CDO Price at posting:
$2.45 Sentiment: Buy Disclosure: Held
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