DEAD CAT BOUNCE OR RECOVERY?

“Butch says turn the machines back on!”

It’s tough to determine whether this tepid range and trading action today in BTC is

simply a “dead cat bounce”, or if another recovery has started to vault 10K, cuz

we’re right up against a 3 day Memorial Day Weekend … granted, that doesn’t

mean much in BTC cuz it’s always open 24/7/365, but action today has been slow

to say the least.

No trades today cuz I don’t really want to trade this stuff unless it’s moving, and

up/down $20 or so I can get in the DOW30 CFD even when it’s dead … so nothing

new today in the crypto space … Blog update on Sunday.

Outta here … until Sunday mi amigos … Onward & Upward!!

Have a great Holiday 3 day weekend everybody!

-vegas

BTC HANGS TOUGH

“BTC Ready to pounce!”

Oil puts in its usual head scratching range day, and quite frankly given the cost to

trade it, unless you’re trading futures in it, I don’t see the point … too many other

great markets to trade profitably while oil either fiddle farts around, OR chops the

living shit out of your account with “false positive” moves … at a penny per barrel

with commissions, a great market if you can handle the action [most can’t] … at 3

cents per barrel, it’s a very dicey proposition.

BTC not only hangs onto the $9K level, it isn’t moving an inch backwards over the

week, and hovers right around $9800 as I write … more than likely, some big sell

orders just under 10K … the problem, though, is its cost to trade … you’re looking

at a total cost of about $11 - $13, depending on your size volume … BTC is roughly

in the same 20 Day Range MA as the DOW30, just looking at raw numbers

… would you pay 11 - 13 index points to trade the DOW30? … hell no you wouldn’t

… but you’ll pay that for BTC? … why, if your goal is to make money? 

As I’ve stated before, “Coinexx” lists BTC, and their bid/offer spread + commission

is about HALF of PRIMEXBT … but the problem there is that MAX MARGIN IS ONLY

5X, and if BTC gets volatile, the bid/offer spread can go anywhere … and when I

say anywhere, I mean anywhere … I’ve seen it at over $100 on occasions, and if

you happen to be on the wrong side of a trade when that happens, man are you

gonna be pissed … gradually, costs to trade BTC will come down, and most likely

PRIMEXBT will be one of the first to reflect lower commissions … like FX 20 years

ago to now, it just takes more market makers and players and costs go down due

to competition.

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

Have a great weekend everybody!

-vegas

SUNDAY UPDATE: CAN ANYTHING MAKE OIL & CRYPTO MOVE THIS WEEK?

“What crude oil & crypto feel like right now!”

Can anything make any of this stuff move this week? … I’m guessing no it can’t,

so outside of Cable & maybe the “Tulip Bulb 30” manipulation providing a spark, I

don’t see any hope for either crypto or oil to move this week with New Year’s Day

on Wednesday …of course now that I’ve said this, look for explosives moves all

week.

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

click on ANY chart to enlarge

Directly below, the U.S. Dollar crypto pairs.

Directly below, the BTC crosses.

While BTC is stable around $300 [kinda, it’s going lower though], everything else

is getting “monkey hammered” lower. Oil in particular at $1, is really a come down

from where it was weeks earlier … it needs to be at least at around or above $1.50,

and we are nowhere near that … if you look at the VIX MATRIX TABLE over on

traderzoogold, you can clearly see that NONE of the BTC crosses is worth trading

… just simply way too expensive in terms of trading cost relative to its 20 Day

Range MA … unless you get lucky, there’s no way to win trading any of these

intraday, and carrying a crypto position is super expensive via “vig” … until

tomorrow mi amigos … Onward & Upward!! 

Have a great rest of your weekend everybody!

-vegas

WHO SHOT BITCOIN?

“Looks like I found a Bitcoin trader!”

Well yea, things can be expected to slow down some … I said “some”, not die on

the vine and leave us gasping for some kind of movement … BTC today trading

worse than oat spreads … not much better in oil, where the range again heavily

under its 20 Day Range MA … add to that some spread shenanigans in oil at

PRIMEXBT, and I’m not at all happy with the current state of the oil market.

Sunday’s blog update will have more on this, as I will compare and contrast the

advantages & disadvantages of trading crude oil at PRIMEXBT versus FX

CHOICE. Needless to say, today saw me give management at PRIMEXBT some

heavy duty shit … we’ll see what happens next week, but for 2 days in a row

now, their scumbag oil LP banks have increased the bid/offer spread for no

fucking reason other than pure greed … not as egregious as what happens at

Turnkey or Coinexx in oil … hell, those are 2 of the worst houses in the world

for bid/offer manipulation, especially in oil … but enough of an increase to piss

me off, and feel like I’m being taken advantage of in terms of trading the CFD.

There was an algo move in oil early, but I decided not to trade oil today, cuz I

didn’t feel like getting ripped off … and besides, with crypto dead in the water

like a floating log, I stayed the whole day in the DOW30 … so, not really anything

to do today in either complex … until Sunday’s update mi amigos

… Onward & Upward!!

Have a great weekend everybody!

-vegas

CRYPTO SHINES … EVERYTHING ELSE IS DEAD

“Yes, the trading plan algorithms are that strong!”

On a day where everything in the traditional universe of trading is dead or dying,

BTC still has a $161 range [so far] … so much for traditional trading … how much

longer most people can take trading conditions that are utterly horrible, remains

to be seen, but my guess is not much longer.

No matter, cuz get the “Traders Course” [TC] for FREE [usually priced at $60],

when you open an account through my referral link in the header at PRIMEXBT

… learn how to successfully trade DOW30, oil, [when it moves] & crypto

… chapter 6 for DOW30, chapter 7 for oil, and chapter 8 for crypto … or stay

where you’re at and do nothing … I’ve structured things so that you get

everything and it doesn’t cost you a penny … let PRIMEXBT foot the bill for your

ride … in any event, makes no difference to me, cuz it’s your financial life not

mine! … I’ll try and help you get there, but the ball is in your court … until

tomorrow mi amigos … Onward & Upward!!

Have a great day everybody!

-vegas

ANOTHER OIL ROUND TRIPPER

“Fast appearances of a new high & then a new low in oil? … Aliens!”

Another glorious day in crude oil, following stocks higher and then lower, and

then higher … stop, I’m getting dizzy! … cuz when a market is adrift in the status

quo of supply & demand and has no idea where it’s going, it will find something

to correlate with to move … and with the money sloshing around the crude

market every day, they’re gonna find something to hang onto.

Other than that, there’s only oil inventories every Tuesday & Wednesday, and the

various thugs and dictators who talk oil to move it … so, here we are again on a

Friday with lower oil VIX this week as well … until things pick up, I’m avoiding this

complex entirely cuz it’s nothing but “whipsaw” action, and if you get caught on

the wrong side, it’s very hard to make it back … better action in the DOW30 IMHO,

and remember oil is most definitely NOT an “88/6/6” paradigm market … better

trading opportunities elsewhere.

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

Have a great weekend everybody!

-vegas

THE OIL PUMP & DUMP [AGAIN]

“Oil made easy!”

Pump & dump seems to be the meme once again in oil, as inventory builds take

the market higher in short covering … time to roll the rock back up the hill, so

commercial’s can sell it again … which they dutifully did … gee, where have we

seen this before? … not much action here today, but notice the hourly chart for

oil looks a lot like the hourly chart for the DOW30 … stocks rally, oil rallies

… stocks get “monkey hammered”, oil goes down … nothing new under the sun

here.

 Until tomorrow mi amigos … Onward & Upward!!

Have a great day everybody!

-vegas

SUNDAY UPDATE: THE FUN NEVER STOPS IN OIL

“Trade oil they said … it’ll be fun they said!”

Directly below, this week’s 20 Day Range MA in WTI Crude Oil.

click on chart to enlarge

Some details on the “Traders Course” [TC] over on the

www.traderzoogold.blogspot.com website … if you don’t want to trade oil futures,

either the regular or the mini contract on the CME, AND you’re a U.S. citizen or

resident, about the only place I know of where most of the time the WTI oil CFD

has a bid/offer spread of 3 cents with no commission is FX Choice … It’s not a

fixed spread, and can change, but most of the time it stays at 3 cents, and they

accept U.S. clients. By the way, the only other 2 CFD’s worth trading there are the

DAX30 and the DOW30 … if interested, check them out at this link:

https://en.myfxchoice.com/

Quite frankly, if I had a 1 cent - 3 cent bid/offer spread in an oil CFD, either fixed

or in a consistently reliable variable format, with no commissions, I’d trade it

exclusively … oil with low “net costs” to trade is the best market going … the

problem for most is that the standardized futures contracts are too big for

smaller traders, and their margin requirements to stiff … and for now, it doesn’t

look like it’s gonna get better anytime soon.

Outside of the oil drone attack 2 weekends ago, nothing has changed in oil

… world demand is weak and supplies are ample … until that dynamic changes,

I’d rather trade oil from the long side, simply cuz of geopolitical concerns that

will support price going forward no matter what … it’s simply a trading market

in the 50’s.

Onto the week … until tomorrow mi amigos … Onward & Upward!!

Have a great rest of your weekend everybody!

-vegas