“And the oil market discovers this at tonight’s open!”
Oh boy, if you’re somehow long oil over the weekend, give your account my
condolences over the train wreck that’s about to hit you at tonight’s open … and
if you haven’t heard already, on Saturday Saudi Arabia decided to fuck both Vlad
& U.S. shale producers and start an oil price war, announcing huge discounts on
Saudi oil and opening up production past 10 million bpd, that could go as high as
12 million bpd … and trust me, the damage won’t be limited to simply the oil
complex, but will reverberate into everything else in a deflationary way … this
is not good.
Directly below, the “STOCKS, CRYPTO, & OIL VIX MATRIX TABLE” for the current
week.
click on ANY table or chart to enlarge
Directly below, the 20 Day Range MA for WTI Crude Oil, for the current week,
which is about to go markedly higher as price collapses.
Directly below, the 20 Day Range MA’s for selected high flying NASDAQ STOCKS,
for the current week.
I don’t see how this news on oil is good for stocks, cuz it’s hugely destabilizing
and disinflationary, but who knows what APPL, AMZN, GOOGL, & TSLA do … but
I will bet this week sees increased VIX in all 4 high fliers.
Directly below, the 20 Day Range MA’s for crypto pairs, for the current week.
BTCUSD
ETHUSD
ETHBTC
XRPUSD
LTCUSD
EOSUSD
BCHUSD & DASHUSD
While the “cost to trade” these pairs is high by traditional standards, there
volatility is off the frickin’ charts as well, and the only 2 I would exempt from
trading is ETHBTC & DASHUSD … the others offer reasonable risk/reward and
are tradeable IMHO … and given the way they move, along with how well the
trading algorithm models their respective b behaviors, they’re worth a look.
The real newsworthy event for today, though, is oil … how low the open is
tonight I got no clue, but it wouldn’t shock me to see $5 - $10+ lower, especially
Brent … fasten your seat belts! … until tomorrow mi amigos
… Onward & Upward!!
Have a great rest of your weekend everybody!
-vegas
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