SUNDAY UPDATE: OIL VIX TAKES A HIT

“Aaaaaaaaand oil was his name!”

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

click on any chart to enlarge

And Yup, we’re scraping the yearly low in crude oil VIX, and quite frankly I don’t

see it getting better for at least a few weeks from now, if then … I don’t see world

oil demand picking up that much, and with proposed production cuts in the works

by OPEC+, who wants to be the first one to trust these assclowns? … and so the

market sits and does very little as it tries to inch higher ... gonna be a big struggle

to maintain price above $60 - $61 IMHO … simply too many good trades and

markets elsewhere to trade that make a helluva lot more sense than oil right now.

Directly below, the Dollar crypto pairs.

BTC holding steady above $300+ for range, but underneath the figures for the

others, there have been some massive breakdowns going into year end … no

doubt, BTC is the “gold standard” for crypto, and as we head into 2020 and the

“halving” that comes in May, I Iook for price to be steady to higher throughout

the year … however it should be noted, that if you trade BTC the “net cost to

trade” it is very high … even smaller accounts and volumes will pay 0.12% of the

value of the notional you’re trading … that means you need to see BTC move in

your profit direction by at least $7.5 per 1 BTC before you make any money

… looking at the 20 Day Range MA for the upcoming week at $338.0, that cost is

2.2% of the average range … by contrast, note that trading Cable [GBPUSD] at

the same notional level as 1 BTC, costs about 6.3 cents per 1,000 notional … if I

traded 7,000 GBPUSD, the cost would be $0.45 … 7,000 GBPUSD = approximately

$9,100 … GBPUSD 20 Day Range MA for the upcoming week = 107.1 PIPS … the

cost to trade GBPUSD = 0.45 / 107.1 = 0.0042 = 0.42% … IT COSTS 500% MORE

TO TRADE BTC THAN IT DOES CABLE … something to think about before

trading … for me personally, I need to see BTC get above a $400 20 Day Range

MA before I will look at it.

Directly below the BTC crosses.

Anybody but me see a pattern in the BTC crosses? … right, they’re all moving

lower, which means leave them alone! … bid/offer spreads + round turn [RT]

commission levels most definitely need to be looked at before you trade any of

these crosses [see traderzoogold for the “VIX MATRIX” Table] … right now, every

single one of them looks extremely expensive to trade, and added to that fact

they show no ability to extend higher any average over weeks and months

… until that changes, why trade this sector?

Onto the week, we’ll see if there are any surprises … I doubt it … until tomorrow

mi amigos … Onward & Upward!!

Have a great weekend everybody!

-vegas