“Crude Oil as a trading CFD instrument is dead!”
We’ve gotten to the point where it’s simply time to say “buh bye” to crude oil
trading via CFD’s … with the collapse of the May 2020 futures contract into
negative territory, brokerage houses are not offering crude oil CFD’s on anything
remotely close to the front month … instead, you’re now trading some kind of
hybrid “back month” oil, which does NOT come even close to trading like the
spot month … welcome to “future expectations”, where the ranges and the trade
are lower, sometimes much lower, so while the front month futures move, your
oil CFD sits there and doesn’t do shit … and with sky high spreads from hell,
commissions thrown in for good measure, AND possible slippage, why the fuck
woulld anybody ever trade an oil CFD going forward? … so effective immediately,
I’m not gonna be commenting on something we can’t trade, cuz what’s the point?
Hello crypto!! … another burner day in BTC, with about a $900 range, starting
with a rip roaring rally in Asia last night that saw price hit about $9400 … since
then, following stocks, it’s been all downhill … Ripple [XRPUSD] for its part,
topping $0.23500 cents last night before following lower as well … so, a lot more
commentary and analysis on crypto going forward after today.
… until tomorrow mi amigos … Onward & Upward!!
Have a great day everybody!
-vegas
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