Nine West Women’s Heeled Nirmala Leather Heeled Sandal B074PTGVF6 Nine Leather Parent beb5fa2




Nine West Women’s Heeled Nirmala Leather Heeled Sandal B074PTGVF6 Nine Leather Parent beb5fa2 - kattskillbay.com

While 2016 fades in the rear-view mirror, market trends from last year will continue to play an important role in 2017. Therefore, analyzing and understanding data from 2016 may help get your portfolio best positioned for the new trading year.

For example, both gold and crude oil experienced significant (and possibly unexpected) price action during 2016.

In fact, it wasn't that long ago that a slide in crude oil threatened to take down worldwide equity prices when prices slumped below $30/barrel in February 2016.

After bouncing ever-so-slightly due to reduced global production (improving supply/demand equation), crude oil truly took flight when OPEC started discussing (and ultimately agreeing upon) a coordinated supply cut. Due in large part to this OPEC activity, crude oil marked its biggest annual gain since 2009 as West Texas Intermediate (WTI) rose 45% during 2016.

With the oil cartel's production cuts scheduled to kick off at the start of 2017, the direction of oil prices in early 2017 will be largely dictated by OPEC's adherence to the deal. Worldwide oil production data for January of 2017 should be available in early February.

While gold prices followed a similar upward trend alongside crude oil for the bulk of 2016, this well-known commodity reversed course dramatically during the last couple months of last year. The early bullish trend in gold was likely due to the US Federal Reserve's decision to hold off on an interest rate hike throughout the first three-quarters of the year.

Likewise, the drop in gold prices at the end of 2016 was related to expectations (later proven correct) that the US Federal Reserve would raise rates at their December meeting. With the Fed guiding for three more increases in benchmark interest rates in 2017, gold prices movement in 2017 will hinge to a great degree on the actions of the US central bank.

Generally speaking, rising interest rates catalyze a strengthening US Dollar, which in turn weakens gold. However, gold prices can also be affected by perceived threats to the global economy (i.e. "flight to safety) and other factors.

It's possible you've already mapped out a plan for 2017 in crude oil and/or gold that fits your existing portfolio, outlook, and risk profile. However, if you are still considering new ideas for the coming year, a recent episode of Closing the Gap - Futures Edition may be a great place to start.

On the show, hosts Tom Sosnoff, Tony Battista, and futures expert Pete Mulmat outline a pairs trading idea that involves crude oil and gold futures. While the show includes a wide-ranging discussion on both commodities, the crux of the rational for the the trade involves the "Gold/Crude Ratio."

Obviously, picking the direction of either commodity over the course of 2017 is extremely difficult. That's why the trade detailed on Closing the Gap is deployed using a reference point that measures the historical relationship between the prices of the two commodities.

The Gold/Crude Ratio is calculated by dividing the current price of crude oil into the current price of gold. With gold currently trading about $1152/ounce and crude oil trading $54/barrel, that means the Gold/Crude Ratio currently stands at roughly 21 (1152/54 = 21).

As you can see in the graphic below, the current value of the Gold/Crude Ratio is somewhat depressed compared to recent history:

Nine West Women’s Heeled Nirmala Leather Heeled Sandal B074PTGVF6 Nine Leather Parent beb5fa2 - kattskillbay.com
MINITOO Ladies TH123 Knot Ankle Strap Red Satin Wedding Ballroom Latin Taogo Dance Sandals 4.5 UK Parent B01CX4ZJYC , MINITOO TJ7141 Ladies Fashion 2" Low Heel Nude Satin Professional Dancing Shoes Wedding Pumps UK 6 Parent B0777KJPKBNew Balance - Womens 300 WRT300GV1 Lifestyle Shoes Parent B01MEE4B0P , The increase in net yarn spring single shoes female wild code size women shoes Parent B07CW3LH29 , NIKE Women's WMNS Air Max Invigor Fitness Shoes, White/Metallic Silver Parent B00PZ8S9BOGuess Women's Trainers Black Black Parent B075F32MRQZenzzle Flowers and Birds Print on Women's Running Shoes Casual Lightweight Athletic Sneakers US Size 6-15 Parent B0783959BN , DYF Women Shoes Solid Color Big size Butterfly knot Round Head High heel,Wine Red,38 B077JZ1T89 Parent , NIKE Women’s Air Max 2016 (Gs) Running Shoes B01IDLDKPO ParentWomen Slippers Jamicy Summer Suede Leather Indoor Outdoor Flat Casual Beach Sandals Shoes B07CWP7L4Z Parent , Caprice Women’s 9-9-25320-21 022 Ankle Boots B07D5KKS1Z ParentiPhone 7Plus Kickstand Elegant Case, CLTPY iPhone 8Plus 3 piece Removeable Parts Cover, 360 Adjustable Finger... B077BZYHQJ ParentGentleman/Lady Not Rated Womens Yamila B06Y4JBL9Q Parent Various styles First quality Modern mode , Lazutom Women Lady Vintage Chinese Style Embroidery Casual Mary Jane Platform Wedges B076F45L9P ParentMINITOO Girls Womens Platform Ivory Bridal Wedding Sandal Slingback Evening Shoes UK 8 B074S5WZJF ParentCalaier Women's Caworry Court Shoes turquoise Size: 9 UK B06XWVKM6K Parent , Ajvani Womens Ladies Platform high Heel peep Toe Cross Over Strappy Sandals Shoes Size B00ZV7YYF4 ParentSmilice Women Dressy High Heel Pumps Slip-on Ponted Toe Shoes Size 1-13 US B06XRXJ8KY ParentAllhqfashion Women's Solid PU High-Heels Pull-On Round Closed Toe Pumps-Shoes B072296HCC ParentAllhqfashion Women's Pull-On Fabric Surface Round Closed Toe High-Heels Solid Pumps-Shoes B072P18LVH Parent , Odomolor Women's Pull-On Round-Toe Kitten-Heels Fabric Solid Pumps-Shoes, Rosered, 37 B07BBSFX46 Parent , Mr/Ms Senco EA0165 Piston/Driver Assembly B00ZZG98UW Parent for you to choose Clearance General product , yalanshop Rivets Beach Resort Open Toe Summer Thick crust Slope with Rhinestones Wear-resistant Slip Student Leisure... B07CQP5XRC ParentSandals Amazing Women's Summer Shoes Middle Heel High Heels Fish Mouth Shoes Open Toe Comfort Waterproof Platform... B07DSQJRJD ParentBlue by Betsey Johnson Women's Sb-Flirt Dress Sandal B01NA0ICKA Parent , Gentlemen/Ladies Mephisto Women's Yliane Oxford B01K4T40BQ Parent Outstanding features Online Extreme speed logistics , Office Mariah Square Toe Strappy Sandals B07CPMP2JY Parent , yalanshop Medium Heeled Shoes, Rough Sandals, Sandals, High Heels And Nude Spring Baotou Women Tide B07FGF4J94 Parent , Artfaerie Women's Chunky Heel Mary Janes Ankle Strap Sandals Block Heels D'Orsay Shoes B07FJ69HRN Parent , Heavenly Feet Sandals Sam Black B01C63ZWII Parent ,

According to the above data, traders expecting a reversal in the Gold/Crude ratio could express their opinion by purchasing gold futures and simultaneously selling crude oil futures. Obviously, the ratio goes higher (i.e. the trade wins) when either gold prices move higher, when oil prices move lower, or both.

For a complete explanation of this trade we hope you'll take the time to review the full episode of Closing the Gap - Futures Edition focused on pairs trading these two global commodities.

While this trade structure may not fit your current portfolio and/or risk profile, it's possible that ever-changing market conditions may make it look more favorable at some point in the future.

If you have any questions about futures or any other trading topic, we hope you'll reach out at support@tastytrade.com.

In the meantime, we wish you all the best for a great new year!


Sage Anderson has an extensive background trading equity derivatives and managing volatility-based portfolios. He has traded hundreds of thousands of contracts across the spectrum of industries in the single-stock universe.

Nine West Women’s Heeled Nirmala Leather Heeled Sandal B074PTGVF6 Nine Leather Parent beb5fa2 - kattskillbay.com

Nine West Women’s Heeled Nirmala Leather Heeled Sandal B074PTGVF6 Nine Leather Parent beb5fa2 Shoes

47642
267806
4372566
8703661
10983519
12238214
15029229
15642458
18572228