With a profit of 3.50% SP Alpha was able to achieve a good result in November. The month was marked by a steady upward trend in the underlying, there was only one chance to buy a pullback, this we have used. The trend-following system component is invested since early November - thus all system components could contribute to the monthly gain.
If it does not come to extraordinary events in December, we expect a low-fluctuation pre- Christmas month.
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