TRUMP SAVES OIL

“One Trump tweet … now take a look at oil shorts!”

In the environment we find ourselves in, you can’t take one minute away from any

position for fear of getting blindsided with news … today a buffet of news

headlines from the usual suspects … bottom line? … oil has rallied on hopes for

world oil demand growing via lower interest rates & a China trade deal … oil

shorts, look the hell out!

A nice move on the M5 via the oil algo … but really, not positive at all in the

scheme of things cuz it just reinforces the “POLS & Apparatchiks Trading

Paradigm” we find ourselves in, where any of these assclowns can move markets

at will.

The oil market has got questions, and the answers don’t come until 1) tomorrow’s

FED meeting on interest rates, 2) the G20 meeting between Xi & Trump, and 3) the

OPEC+ meeting they now want scheduled for early July. Until these are known

quantities, I don’t think oil has any place to go … a little up/down, but no moves of

any significance … we’ll see.

So, first step is the FED … tomorrow at 2 PM EST … get ready for some heated

action. Until tomorrow mi amigos … Onward & Upward!!

Have a great day everybody!

-vegas

THE OIL TRADING BLUES

“Oil acting that way so far today!”

I think it worked … Monday hasn’t seen us yet … probably won’t until

Wednesday at 2 PM EST … for oil at least, like every other market pretending to

be open but aren’t really, days like these simply have to be avoided … nothing

to do but lose money.

Coinexx proving to be a complete bust for WTI and/or Brent crude oil trading

… bid/offer spreads here simply suck … quite frankly, I think it was the old

“bait & switch” move, where they show you 2 - 3 cents, then pull it away quickly

shortly thereafter, thinking either you don’t notice or care … right, keep thinking

that morons. There simply isn’t anywhere on the planet, where CFD’s in oil are

tradeable and fair … they are all complete ripoffs. Nothing to do but trade futures

or the emini contract, otherwise you’re getting ripped.

Today sees oil with a less than $1 range, making it as pathetic as gold and

everything else … I’m outta here, cuz I can’t take another minute of watching this

shit drift … until tomorrow mi amigos … Onward & Upward!!

Have a great day everybody!

-vegas

SUNDAY UPDATE:OIL ONLY FOLLOWS NEWS THIS WEEK

“If the FED swings & misses on Wednesday, no China deal, & OPEC clueless!”

Well, it will be quite a week for markets, and don’t discount the strong probability

and possibility of 1) the FED, 2) the G20 meeting, and 3) OPEC, all come up

negative for oil at the end of the week … the FED stands pat, no China deal with

Trump & Xi, and OPEC clueless in the face of a worldwide depression … say

hello to the 40’s!

It would be nice to see Coinexx have a 3 cent bid/offer spread this week in WTI,

but don’t hold your breath … more likely the entire week is a “shitshow circus”

cuz they can … “duh, market conditions, duh” … however, I would point out, that

in all reality the CFD market for oil is generally shit to begin with … why nobody

wants to make a viable CFD market for oil is beyond me, but they don’t.

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

click on chart to enlarge

Let’s see what the week brings … until tomorrow mi amigos

… Onward & Upward!!

Have a great rest of your weekend everybody!

-vegas

OIL SNOOZES

“Let me guess … when oil does nothing!?”

Basically, we’re waiting for OPEC+ next weekend … and given the fact it’s Friday

and nobody really wants to trade today if they can help it, oil goes “sleepytime”

… although, on the M5 oil algorithm, a nice slow move higher that produced some

profit. Bid/Offer spreads, though, still leave something to be desired … seriously,

they suck at 5+ cents when they should be at 2 or 3 … nothing I can do about it.

Blog update on Sunday, where the 20 Day Range MA looks set to get beat up

some. Until Sunday mi amigos … Onward & Upward!!

Have a great weekend everybody!

-vegas

THE DARK HOURS IN OIL TRADING

“Can’t a person just take a little oil home without getting raped!?”

The answer of course, is NO! … I’m sure nobody got long oil first before the

torpedo attacks, did they? … Nah, honest markets all the way around! … good

grief, what a “shitshow circus” in the dark hours after New York closes for the

day.

And with that, what’s left for today on the order books anybody wants to tackle?

… try NADA, and a visit from Mr. Jack Squat. And so, we find ourselves in a very

tight range since the attack, simply cuz nobody wants anything to do with this

market going into the weekend. Nothing else really to say, cuz that’s it!

Until tomorrow mi amigos … Onward & Upward!!

Have a great day everybody!

-vegas

OIL INVENTORIES & TRADING DEATH

“What’s a little water anyway?!”

It’s 2 PM EST, and WTI oil has got a day’s range of … wait for it … 54 cents! The

20 Day Range MA, is at $2.01 … talk about a sigma miss, and that’s after the

latest crude inventory numbers today and the bombshell build last night. I said

before things would slow down going into the OPEC+ meetings around June 23,

but this is ridiculous.

And quite frankly, it’s days like this that make wide bid/offer spreads such

account killers via the CFD’s … with this kind of range, it’s almost impossible to

make any money. Fact is, if WTI breaks that 50.50 level and takes out 50 in the

days ahead, it could get quite ugly to the downside, even if OPEC keeps current

production cuts … the problem isn’t supply, it’s gauging demand … and the

market keeps getting reminded that global growth ain’’t there, which means no

demand for more oil to fuel said growth that ain’t there … the result is more oil in

inventory no matter what OPEC decides. Until these inventories start getting

worked off, oil has no hope on the upside for anything sustained in terms of

price.

Until tomorrow mi amigos … Onward & Upward!!

Have a great day everybody!

-vegas

PREPARE FOR THE OPEC CLOWN SHOW

“Get your group OPEC+ photo right here!”

Not even a dollar range today … pretty pathetic. Attention turns to the OPEC+ meeting in 2 weeks, and unless stocks tank or China puts out some really bad news, look for more of this kind of stink bomb trading. Nothing really else to say. Onto tomorrow … until then mi amigos … Onward & Upward!!

Have a great day everybody!

-vegas