SUNDAY UPDATE: OIL & CRYPTO STILL WEAK

“Reminds me of 2 markets I’m thinking about!”

Even with Friday’s large range in crude oil, the 20 Day Range in New York has

fallen below $1 … utterly pathetic, but whaddaya gonna do? … and with bid/offer

spreads blown out at PRIMEXBT cuz of STFU & trade, it makes the situation even

worse than normal, cuz with a “total cost to trade” of over 5 cents per barrel, it

makes the (cost to trade) / (20 Day Range MA) = over 5%+!! … and quite frankly, if

you pay this rate to trade anything you’re an idiot. And unless they discover

religion this week and get shit back to normal, oil is untradeable at PRIMEXBT

… the only place to go is FX CHOICE, where the cost is 3 cents “NET”.

Even BTC had a nice range on the Iranian news, but it’s not enough to lift overall

IVIX from the doldrums, and I might add going lower … one glance at the “VIX

MATRIX TABLE” over on traderzoogold, and you’ll quickly notice that to trade

anything crypto, it’s 10X times higher cost than Cable, and 20X more expensive

than silver, given their respective 20 Day Range MA’s … and like I said last week,

unless this downward trajectory in everything crypto first stalls, and then ends,

there’s no reason to trade any of it … why, you’re giving money away for the hope

it pops?

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

click on ANY chart to enlarge

New York range below $1 … unreal given the news and geopolitical environment

we’re in, but it is what it is.

Directly below, the week’s 20 Day Range MA’s for dollar crypto pairs at

PRIMEXBT.

Literally nothing to cheer about in any of the above charts.

Directly below, the week’s 20 Day Range MA’s for BTC cross crypto pairs

at PRIMEXBT.

Even worse in the crosses, as there is no end in sight to the downward trajectory

of IVIX … quite frankly, all the other alt coins are dead in the water when it comes

to IVIX versus Bitcoin [BTC] … at the moment, though, you’d have to be nuts to

trade any of these given the exorbitant costs to trade any of ‘em … way, way too

expensive.

… until tomorrow mi amigos … Onward & Upward!!

Have a great rest of your weekend everybody!

-vegas