OIL THROWS UP

“Thy name is oil!”

And the race to the bottom is on! … and the ugliness goes full retard. Let’s

see how the bid/offer spreads hold up at Coinexx today … I’m not hopeful.

And for the record, if you’re not a U.S. citizen or resident, oil trading doesn’t

get any better than at PLUS500 [ https://www.plus500.com/Instruments/CL ].

Directly below, the dashboard screenshot from earlier this morning.

click on box to enlarge

And, I might add, I believe this is without commissions … so, there isn’t

anything better at the moment in the world for oil than PLUS500 that I have

discovered. While they are at a 2 cent spread, Coinexx is at 4, Turnkey is at 6,

and LQDFX is at 15 cents [wait … wut? … seriously, what are these guys

smokin’?]. Problem is, PLUS500 doesn’t accept US clients, and they don’t

accept corporate accounts, only individuals … meh!

Again today we see very large ranges from Asia & Europe, where bid/offer

spreads last night were as high as 10 cents … good luck trading that … and

then we get to New York, and its “crickets” … WTF … another day as well

with disappointing spreads from Coinexx … haven’t seen 3 cents in over

3 days in the spread … as I told management this morning, “if PLUS500 can

do spreads in oil at 2 cents with no commissions, why the hell can’t you?

… so, what’s preventing you from signing on with their LP for oil? … what”?

One algorithm trade today, from the long side, and again it simply won’t

move a bit as the SP500 rallies, so I liquidated … bought at 33 sold at 35

… at least it wasn’t a loser, but not a very good risk / reward trade at all

… things today skewed mightily before trading even began in Chicago or

New York. Directly below the M5 for the trade [white arrow = buy, orange

arrow = sell liquidated].

click on chart to enlarge

What a volatile week in oil … would really help if we had access to

consistently decent spreads that aren’t jumping all over the place and

creating havoc … at this juncture, cuz most of us are US citizens, all we got

is Coinexx … I’ll keep looking and searching for other options, though, cuz

you never know. One more thing to add salt to the wound … PLUS500 also

has crude oil options … yea, I know … isn’t it great to live in a country

where you’re treated by the rest of the world as lepers … I can’t even

… I’m outta here early today … blog update on Sunday … until then mi

amigos … Onward & Upward!!

Have a great weekend everybody!

-vegas

UPDATE: 1 PM EST: Below, I’ve made a screenshot of PLUS500 oil, right
alongside Coinexx, so you can see firsthand the spread differential. If I could,
we’d be there!

click on to enlarge

UPDATE 2: 3 PM EST: It’s 3 PM EST on a Friday … do you know where your

oil market is? … well for most, you can’t trade it into the close cuz the spreads

have been blown out … not at PLUS500 … notice the difference now!

Good grief what a difference! … a real oil market!!