OIL TRACKS STOCKS LOWER

“Good luck with that Skippy!”

Oil tracks lower with stocks … another “see my shocked face moment … not”.

Although the day’s range is slightly higher than the last few days, unless

something happens here later today or tomorrow, WTI is set to see another drop

in the 20 Day Range MA come Sunday’s blog update. Starting with this week’s

MA, I’m going to track oil like I do for the SP500, which is to show both the days

range MA AND the 7 AM EST - 3:00 PM EST [New York session] MA. This will give

us a better look at the state of the oil market.

Other than that, the “Traders Course” [TC] does cover oil as well, both from a

position perspective as well a scalper [day trader] perspective, covering trading

styles from conservative to very aggressive for scalpers … ordering info over on

the sister blog www.traderzoogold.blogspot.com in the header using crypto

… take your pick, there’s 8 of them there … price is only $60, so everyone can

afford it that’s serious about trading … I’m not entertaining “tire kickers” any

longer.

For oil position traders, I would recommend trading the various ETF’s and/or

ETN’s in crude oil, which I know have leveraged holdings, from both the long and

short side … for example, there’s an ETF that is always “short” oil, so whenever

oil goes down, the ETF stock goes up … both Fidelity & Schwab offer trading in

all stocks, bonds, options, ETF’s & ETN’s commission free now, so you can

effectively trade the ETF’s, no matter the size, from the long side without cost

… download the FX CHOICE DEMO and run the algorithms for signals … except

for the initial cost of the algo, you have ZERO TRADING COSTS … quite frankly, I

don’t know how it can get any better for you … in addition, those that don’t like

CFD’s, the leverage they use, or the fact you’re using an offshore broker [trust me,

your confidence in the U.S. brokerage community is totally misplaced and

misguided], use the ETF’s to short term trade as well … even though the CFD in

oil is commission free, your stock ETF trades would be as well … so there’s that

option as well for you … I don’t agree with it, but it’s your money so do what you

want. However, no matter how you slice the trade, you’re gonna need the TC to

get the oil algorithms … they come with support should any problems or

questions arise … so, the ball is in your court if you’re gonna follow oil here, cuz

when oil gets more active and I start trading it, the charts aren;t going to make

any sense to you without the TC.

Until tomorrow mi amigos … Onward & Upward!!

Have a great day everybody!

-vegas

IF STOCKS CAN’T RALLY OIL, WHAT CAN?

“Back into the $54 handle, but don’t tell anyone!”

Well, oil VIX continues to drop, and it’s “Slim Pickens” for traders as volatility is

evaporating before our eyes. Quite frankly folks, I’ve got no words for oil right

now … it’s a dead market getting deader-er by the day … how long this lasts is

anybody’s guess, but for now it doesn’t look good if you’re trading it.

Until tomorrow mi amigos … Onward & Upward!!

Have a great day everybody!

-vegas

OIL LIMPS, THEN RALLIES

“Mr. Burns … I’m convinced this guy runs the crude oil market!”

Well now, VIX dropping along with daily ranges, and nobody really knows what

the hell to do with oil, so they leave it alone, which perpetuates the self fulfilling

prophecy of lower volumes and activity even more … all the while trading in

tighter and tighter ranges in the mid $50’s … nothing new under the sun here

folks, sad to say.

Until tomorrow mi amigos … Onward & Upward!!

Have a great day everybody!

-vegas

CRUDE OIL SAYS “NOT SO FAST”

“Hang on cowboy, not so fast!”

Just when it looked like oil could climb a little, BAM!, along comes a drop back

into the $55 handle … even with the Trump tweet this morning that “Everything

Is F-ing Awesome, Baby!”, there’s simply too much oil sloshing around to see

price rally … so what else is new from the last 100 days, aside from the Saudi

attacks? … right, nothing … an you see oil’s response … nothing new under the

sun here.

Until tomorrow mi amigos … Onward & Upward!!

Have a great day everybody!

-vegas

SUNDAY UPDATE: OIL VIX DROPPING

“The 6 emotions of trading crude oil … do you see yourself!?”

The 20 Day Range of WTI Crude Oil for this week directly below.

click on chart to enlarge

VIX going lower as crude is trapped in a range that is seemingly unending

… basically a $52 - $53 on the low side, and $56 - $57 on the high side, and

unless there’s more attacks on tankers from somebody, there doesn’t seem to

be any breakthrough in terms of supply and demand … I’m afraid it’s just more

of the same this week, bouncing around in the “Flying Wedge of Death” [FWD],

as the big money crowd banks coin at the expense of retail specs … nothing

new under the sun … until tomorrow mi amigos … Onward & Upward!!

Have a great rest of your weekend everybody!

-vegas

OIL GOES “SLEEPYTIME” … [AGAIN]

“Oil traders from yesterday … they’re still puzzled!”

Not much to report on in the oil complex, as oil puts in one of its worst range days

in recent memory … barely over a buck for the day, hanging onto the $56 handle

… there is literally nothing you can take away from today, as even the “China

trade deal” rumors did almost nothing … there’s too much oil sloshing around to

get it much higher unless there is another Saudi attack of some kind … really

nothing new under the sun.

Blog update on Sunday … until then mi amigos … Onward & Upward!!

Have a great day everybody!

-vegas

AND AFTER OIL ROULETTE, THEN WHAT?

“Oil traders hard at work figuring out crude oil!”

Barely a buck range today, what is it you want me to say about this stuff? … OK,

pathetic, there ya go, but with everything else on the board going “sleepytime”

as well, why expect this crap to move? … It hasn’t … it won’t until something

changes, and right now nothing is changing … nothing new under the sun.

Until tomorrow mi amigos … Onward & Upward!!

Have a great day everybody!

-vegas

IT'S OIL INVENTORIES ROULETTE DAY!

“Place your oil bets!”

Thanks to a big, ginormous draw in distillates, crude rallies strongly today to

touch the $56 handle, and settles in the $55’s … that and some talk the Saudi’s

are seeking more production cuts, which of course they don’t disclose until they

know the oil inventories report has gotten the market to rally … then break the

news and it adds further fuel to the rally fire … and stocks rally as well, so

there’s that.

We’ll see if anything can be maintained above $56 … I got my doubts … until

tomorrow mi amigos … Onward & Upward!!

Have a great day everybody!

-vegas

WELCOME TO “HO HUM” OIL, PART II

“I think that dog is a perfect metaphor for the crude oil market!”

What’s new with oil since yesterday? … right, NADA! … stocks rally a little, oil

rallies a little … stocks break a little, oil goes down some … somebody wake me

when this shit ends … I wish there were something to report, unfortunately

there isn’t  … nothing new under the sun … until tomorrow mi amigos

… Onward & Upward!!

Have a great day everybody!

-vegas

WELCOME TO “HO HUM” OIL

“Just think crude oil, and you won’t be far off!”

We’ve got a market on our hands that can’t go anywhere … it’s a miracle the 20

Day Range is as high as it is, but from yesterday’s chart, it’s started to go down

from that $2 level, and today it’s again significantly below that … with no news, it

basically just mirrors stocks … I wish there was some news to move this puppy,

but unfortunately it’s as stuck in mud in the $52 - $55 range, and unless missiles

start flying, or the “China trade deal” gets solved [hahahaha], I don’t see anything

happening anytime soon to get this market out of the mud … nothing new under

the sun … until then mi amigos … Onward & Upward!!

Have a great day everybody!

-vegas

SUNDAY UPDATE: FACE FACTS, OIL IS STUCK

“As clear as the “fun-dur-mentals” in crude oil!”

Couldn’t be clearer, right? … well maybe not … oil can’t decide what to do, and I

don’t see anything on the horizon to change that … at least not this week … but if

you know oil, then you know it can go anywhere, and the drivers of oil can be

literally anything … most likely it tracks stocks this week and/or China news

… nothing new under the sun.

The “Traders Course” [TC] is finished, and will be available in a couple of days

… sometime this week it will be released … the crude oil algorithms are part of it,

of course, and if I say so myself they are excellent … it would be nice, though, if

crude could stop this “pump & dump” cycle we’ve been in, and start trending

somewhere, but I’m not hopeful.

Directly below, the WTI Crude Oil 20 Day Range MA for this week.

click on chart to enlarge

Onto the week at hand… until then mi amigos … Onward & Upward!!

Have a great rest of your weekend everybody!

-vegas

IS THERE ANY INTEREST IN OIL?

“Lately, this is all has become!”

With each passing day, it gets tougher to comment on crude oil … does anybody

care about this market right now, seems to be an appropriate question to ask

… chopping around the $52 $ $53 handle and not being able to extend up or

down from here is disappointing … its trading action is setting up some

dangerous technical trading conditions … cuz when it lets loose in some

direction, and the “fun-dur-mentals” support it, look out for some crazy action

… until then, though, it’s gonna be some more “sleepytime”.

Blog update on Sunday … until then mi amigos … Onward & Upward!!

Have a great day everybody!

-vegas