SUNDAY UPDATE: THAT WAS QUITE A WEEK!

“How every oil trader feels positioned over a weekend!”

Every day last week saw trading action go lower, after Sunday night’s historic

melt up of some 20% in price … was it for real, a false flag, and inside job as

some are suggesting? … I dunno, but for some who were over inventoried in

crude, it was Christmas come early for some badly needed coin … I have a very

hard time seeing this week being anything more than a “chopfest”.

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

click on chart to enlarge

A slight increase, but digging into the data it’s an outlier that will get worked off

in the day’s ahead … still, it points to the “hair trigger” response crude oil has to

supply disruptions from the Middle East, and especially Saudi Arabia … first

estimates were of damage that would cut Saudi production over 5% and last for

months on end … within 24 hours it was downgraded to a minor blimp … with

that being said, it still caused a 20% jump in price at the open, the largest in the

history of oil trading … right, nothing suspicious about all of this is there?

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

Have a great rest of your weekend everybody!

-vegas

OIL GRINDS

“Let me guess … an oil market that doesn’t move!?”

Well, isn’t today’s oil market special? … along with everything else, a bucket

of slop … worst range day since May 3, right along with the “Flying Wedge

of Death” [FWD], trying to hit new highs and lows about 9 times apiece.

Bid/offer spreads today from Coinexx, also not very good … considering the

dull action, spreads should have been at 3 cents most of the day … instead,

we saw 4 - 5 cents … scumbaggery no matter where you go from the LP’s.

I decided last night after I published the oil algorithm, I’m not going to

simply take every oil signal from the algorithm and make a demo trade.

Instead, I’ll choose the trades from about 7 AM EST - 2 PM EST [7 hours],

according to signals, to give all of my readers my thinking behind a trade

… and coming into today, it looked and felt like dead meat … and really,

nothing on the upside or downside could gain any traction in terms of price

… the only move that could have made any money was the up move from

59.00 to near the high around 59.50 … other than that, a complete chopfest.

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

Have a great day everybody!

-vegas

GETTING BACK TO “NORMAL”

 

“In other words … it’s US versus the scumbag banks!”

It’s taken a while this month to be sure … too long for my comfort, but the 

numbers were there this morning in the call spreads in GBPJPY, and we 

made the trade. As signals subscribers already know, this entire month has 

seen exorbitant premiums … so much so, that plenty of days you need to see 

ranges in excess of 150+ PIPS just to break even. 

  

Crude oil continues to be a disappointment, and I don’t see relief here until 

we get closer to the OPEC meeting in May … until then, it’s a constant back 

and forth battle between supply concerns and weakening global growth, and 

depending on what day it is, who are the ones that have to be concerned 

about price today, the longs or the shorts … in short, a “chopfest” for the ages 

with little interest in establishing a trend that is going anywhere.

Both GBPUSD & GBPJPY seeing the infamous “Flying Wedge of Death”  

[FWD] today, as scumbag LP’s make sure both long and short position 

holders feel the pain … moves wickedly quick on every little rumor, half 

rumor, and stop hunt they can dream up. As the day has worn on, I get the 

distinct feeling delay is going to happen again, regarding “Brexit”, and that 

more than a few accounts are long … I don’t get the impression the trade is 

short, and that’s where the real risks lie, IMHO. What it means is simply 

this; “any and all rallies from here on “Brexit” positive news, unless off the 

wall crazy positive, will be met with selling cuz people are already long and 

will be looking to liquidate" … well, you gotta sell to somebody, and I don’t 

think the banks are going to be willing buyers. On the downside, it’s 

radically different, cuz it could get ugly quite quickly over any real 

disappointment in Cable’s prospects. We’ll see.

Today’s trade initiation ticket directly below.

 

click on images to enlarge

On the rally up to within 1 minute of the high for the day, I liquidated. Quite 

frankly, the trade was getting too crowded given 1) the length of the day, and 

2) the almost straight up action over 2 ½ hours. The liquidation ticket directly 

below.

 

And from here, it’s been nothing but down, with some chop mixed in and 

some sharp rallies to shake some traders out. What’s important to recognize, 

though, is how the call spread premiums shrink when the market corrects or 

retraces a move up/down. There’s nothing subtle about it, they kill premium, 

and today is no different. All told after commissions, we netted about 50%+ 

on risk capital in the trade.

Looks like more “Brexit” BS coming tomorrow, if I’m reading the news wires 
correctly … we’ll see what happens. I’m outta here … until tomorrow mi 
amigos … Onward & Upward!!
 

Have a great day everybody!

-vegas
 

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