BITCOIN GETS “MONKEY HAMMERED”!

“Everything looks good out the front window … what can go wrong!?”

I guess today’s BTC trading has made up for yesterday’s lackluster session, and it

didn’t take long for SHTF once 10K got violated on the downside [less than a

minute] … and from there, round up the usual retail spec suspects with sell stops

to provide every bit of downside action of about $800 worth … of course, which

should be obvious by now but isn’t, don;t place your stops with everybody else

out there trading, cuz if you do when they get whacked, you get whacked right

along with ‘em.

What’s notable about today, is that when SHTF the bid/offer at COINEXX went

absolutely basket of retarded kittens on meth … the bid/offer spread balloons out

to $40 - $80+, and makes it untradeable … meanwhile at BaseFEX, the spread

hung in the $7 range, plus or minus a few cents … and it’s why I said before,

while COINEXX is great when conditions are normal, they aren’t so good when

SHTF, and it;s why you need some BTC at both places, so you’re not locked out

of the action when things get a little steamy.

… until tomorrow mi amigos … Onward & Upward!!

Have a great day everybody!

-vegas

BTC IS THE VACCINE AGAINST GOVERNMENT

“Dear Elmer: Try the crypto space for some good hunting!”

Third day in a row [so far] BTC is locked into a very tight range, with 2 doji’s

preceding today on the daily candlestick … markets basically quiet everywhere,

and so far today after 15+ hours, BTC with a measly $214 range … and when you

start to get conditions like this, algorithm parameters start collapsing in on

themselves, and you have to be very, very careful about minor price fluctuations

causing “false positives” … every market needs a certain level of IVIX, and right

now BTC is scraping the bottom of the barrel, and what that means for your

trading is to lower your trade expectations until the market changes and things

get more volatile.

A couple of brutal “Thelma & Louise” downdrafts in the NYSE session, that

specifically saw 2 M1”s get monkey hammered lower, no doubt on sell stops

below the last couple of day’s lows … however, both led to algorithm scalps from

the long side right afterwards, and once again patience & discipline in waiting for

BTC to “do its thing” will reward you with profit.

This afternoon at @ 2 PM EST sees the FED minutes released … not sure if this

will have an impact on BTC, but it’s there nevertheless and you need to be

situationally aware of what’s going on in the broader scheme of things … and

now that the sell stops have been wiped off the order books, the market literally

dies in its tracks … this is what’s known as the “loser formation”, cuz if you got

caught the wrong way, good luck making anything back when there’s no range to

trading for minutes on end … it’s been in about a $20 range for the last hour, and

that M1 stop hunt had a range of approximately $236 … and everybody who got

caught is now sitting there and saying, “well that was fucking cute, now what?

… how do I make any of this back”? … HINT: you don’t! … but if you had the

algorithm, you wouldn’t be in the mess you find yourself in, cuz there’s no way

you would have been long into either M1 break!

… until tomorrow mi amigos … Onward & Upward!!

Have a great day everybody!

-vegas

MORE OF THE SAME, JUST A DIFFERENT DAY

“Sums up crude oil & crypto pretty well, IMHO!”

Any way you want to slice the oil trade, it’s nothing but a continuation

day-after-day of the same shit … blow the shorts out and rally, then blow the

longs out with a “Thelma & Louise” … pick your poison ...  geopolitics, OPEC, oil

inventories reports, etc., it doesn’t matter cuz the market won’t discriminate in

screwing you … it’s been so long since oil has been in some kind of trend, I

forgot what it looks like … simply back & forth between $52 - $60, with the

occasional blimp on either side to hunt stops, it’s nothing but a “meat grinder”,

best left alone … and quite frankly, given the trading conditions versus other

markets, for example NDX100 at PRIMEXBT, you have  a much better shot of

making money in an “88/6/6” market with better trading conditions than you do

in oil … and I don’t see oil getting any better anytime soon.

For crypto, specifically BTC, it’s simply too expensive to trade … if you’re wrong

on the trade, that $10 - $13 cost is gonna bite … quite frankly, given the cost

structure of crypto exchanges, and taking into account the need to hedge and fill

customer orders, I don’t see the costs coming down soon … someday they will,

but for now most places that trade crypto heavily have a -0.025% “maker fee” and

a 0.075% “taker fee”, and that’s if they are aggressively competitive for traders

… PRIMEXBT comes in at 0.05% on each trade, so they simply cut the middle

… that’s not gonna change until factors outside their control within the industry

change as well … so don’t look for crypto to get much cheaper this year.

… until tomorrow mi amigos … Onward & Upward!!

Have a great day everybody!

-vegas

GENERALLY SPEAKING, HOLIDAY MARKETS SUCK

“When a trader gives up, walks out into the snow, and tries to die!”

Not much to cheer about if you’re trying to trade crypto or crude oil this week,

and today sees PRIMEXBT bid/offer crude oil spreads blow out to 6 cents a

barrel … “Yup, I was all over ‘em like hot sauce in chili”! … I realize it’s Holiday

time, and markets are thin, but this shit is ridiculous … I mean, oil is dead

anyway, with IVIX going “Thelma & Louise” “bigly & yuge”, but still.

Crypto meanwhile, BTC specifically, simply meandering around 7200 - 7300 and

its range this week hasn't been anything to write home to Mom about … both

spaces getting wrung out to dry, and if you attempt to trade in this you’re nuts.

Outta here early … can’t stand watching paint dry … blog update on Sunday

… until then mi amigos … Onward & Upward!! 

Have a great weekend everybody!

-vegas

OOPS! … VLAD IS SHORT OIL … CRYPTO VAULTS

“My profits from trading simply blind ordinary humans!”

Well, that’s easy … get short oil, send out hack to drop a hint the Ruskies ain’t

on board for extending production cuts at next week’s OPEC+ meeting, sit back

and watch WTI & Brent go “Thelma & Louise”, cover at some point, and take

the millions to the bank … see how simple this is? And the only reason the

Saudi’s are pissed, is cuz Vlad got a better short entry on his trades before

spilling the beans … you snooze, you lose!

And while it isn’t U.S. Government, FED inspired manipulation, it’s the usual

bullshit that haunts oil when thugs, dictators, & various presidents who have

oil in the ground, open their Pie Holes and wax eloquent on oil for their own

benefit … it’s something you got to deal with.

So while the world markets diddle around cuz the U.S. has a Holiday, and what a

wonderful excuse for a 4 or 5 day weekend, crypto acts its usual manic self and

puts in another decent range today … so far as I write, about a $463 range, or

about a 7% notional range … outside of oil, which had some vlad news that

smacked it, what else even got out of bed today? … right, NADA! … doesn’t make

any sense to attempt to trade shit that is manipulated and has had its VIX

destroyed by central bankers … you here to make money or what? … seriously,

it’s not a rhetorical question.

PRIMEXBT can get you moving in the right direction …. No KYC, deposit /

withdraw in BTC [the world’s most valuable currency], and sign up through my

referral link in the right hand column and get a 35% deposit bonus to boot

… I mean seriously, WTF is it you want me to do for you? … 1) you get the very

best place to trade crypto, 2) privacy & anonymity cuz no KYC, and if you want

to trade other markets, they’re here at PRIMEXBT, and 3) fund your account and

you get the TC for FREE … follow the directions of the algorithms, and make a

shipload of money! … you’re gonna need a bigger ship!

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

Have a great weekend everybody!

-vegas

DEMAND, DEMAND, DEMAND … THERE AIN’T ANY

“Crude Oil simplified!”

Oil in the $53 handle now … and if you keep trying to buy this market, prayer

might be your only avenue … another “sigma” miss out of the ISM report this

morning drubbing oil “Thelma & Louise” style … almost hit the $52 handle, and

the only thing keeping oil above $50 is the threat of Iran … other than that, rallies

come on stock market bounces, but once that’s over with, oil reacts quickly to

the downside … it’s a trading market folks, play it accordingly … nothing new

under the sun.

Until tomorrow mi amigos … Onward & Upward!!

Have a great day everybody!

-vegas

OIL GOES FULL RETARD

“What it’s like to trade crude oil!”

Well, weekend events certainly have changed the oil dynamic, haven’t they?

… and while you couldn’t blame oil producers for wanting to hedge a 20%

windfall that came on Monday’s open, for the spec community I’d switch my

focus to positioning myself from the long side for a good long while … sure, the

Saudi’s today announced they’d be down for a couple of weeks rather than

months as expected, and WTI oil went “Thelma & Louise” for 8 minutes to the

tune of $3 per barrel to the downside, but now that that’s over with, I’d be very

careful about trying to sell rallies here … and here in the early PM, the Saudi’s

again pouring fuel on longs, as their oil minister announces full production of

oil is back NOW … ouch if you got caught in this.

It would be nice to have an oil CFD that worked, but apparently that’s too much to

ask for from the likes of the scumbag LP’s at Turnkey & Coinexx … 7 - 8 cents for

a bid/offer spread is a total rip off and they know it, and my guess is that it’s

gonna be awhile before we see anything reasonable, if ever.

The risk here, obviously, is for an escalation of the attacks on the Saudi’s oil

facilities, and that would only mean sharply higher price within seconds, and that

can happen anytime day or night. Play it from the long side mi amigos!!

Until tomorrow mi amigos … Onward & Upward!!

Have a great day everybody!

-vegas

OIL “PUMPS & DUMPS”

“Aliens with oil is the only answer!”

Crude “pumps & dumps” today, on the bogus ChiCom headline that hit markets

right before Lunch in New York … so what else is new? … rocketing skyward

above $58, then going “Thelma & Louise” down near $57 … never underestimate

the power of oil to go anywhere the hell it wants … this market is like a runaway

freight train, where nobody knows where it will stop and turn around.

But, here we are around $57 … nothing new under the sun.

Until tomorrow mi amigos … Onward & Upward!!

Have a great day everybody!

-vegas

THOSE PESKY RUSKIES!

“The oil rally that is!”

Well, seems the Ruskies, are pumping every last drop of oil they can get out of the

ground … wait, wut? … I thought everybody agreed to extended production cuts at

the latest OPEC meeting … bwahahahaha.

So, just another $2.50 drubbing to the downside, and I’m not sure “Thelma &

Louise” have hit bottom yet … I wonder where Vlad & the boys will cover their

shorts?

Onto tomorrow … until then mi amigos … Onward & Upward!!

Have a great day everybody!

-vegas