ICHI A Parent ICHI Feeling B075FDYNZX Fw, Women’s Heels Sandals B075FDYNZX Parent a33cabf




ICHI A Parent ICHI Feeling B075FDYNZX Fw, Women’s Heels Sandals B075FDYNZX Parent a33cabf - 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:

ICHI A Parent ICHI Feeling B075FDYNZX Fw, Women’s Heels Sandals B075FDYNZX Parent a33cabf - kattskillbay.com
Men's/Women's Stallschuh Montreal, schwarz, 34 Parent B00IJ59VQ2 Adequate supply and timely delivery Online Global sales , HBDLH Women's shoes/Fashion/In Summer Slim Sandals Women Muffins Slope Heels 8Cm High Heels Joker Students Thick... Parent B07DBP6VWFWhite Sandal Shoe - Satin and Aurora Stones with Suede Sole, Open Toe Dance Shoes for Line, Latin, Ballroom, Jive... B07BTJ1L7X ParentAJUNR New/Fashion/Work/Ladies Summer Slotted Tie With Bold Wild Students Soft-Mei And That Party Head Dew Embroidered... B07C53B6N5 ParentHarry Hall Leather Jodhpur Boots Hartford Zip Front Ladies Brown x Size: 3 B07CQ879YT ParentNew The North Face Women's Storm Fastpack WP Hiking Shoes B00LNHORN0 Parent , Womens Kickers Kick Hi Classic Leather Office Work Ankle Boots Shoes B00K5QCYTO ParentYouxuan Women's Winter Short Plush Warm Ankle Booties Elegant Girls Dress Boots B01M1RAAVL ParentMELVIN & HAMILTON MH HAND MADE SHOES OF CLASS Women's 260-87-00011 Boots B07GLB5ZF4 Parent , AWXJX women's flip flops slippers Flowers seaside Soft bottom B07CYZGN7N Parent , SHOESHAOGE Summer Transparent Slippers Female Pine Cake Bottom Slope Heel Sandals High Heel Thick Bottom Fish... B0753LH28Y ParentRawdah Vintage Women Round Toe Flat Buckle Strap Boots Non-Slip Casual Leather Martin Shoes Comfortable Sneakers B07G35HQB3 Parent , New Look Women’s Barb 5358275 Boots B074QSJR7K ParentJones New York Emmi Velvet, Women’s Pump B072PQ35LT ParentMen's/Women's KOOKAÏ Virgin, Women’s Sandals B00S4HVZAU Parent Fine processing New design Complete specificationsCFP YSE-817-3YG Womens Vintage Round Toe Spike Heel Stiletto Cozy Spotlight Dress Prom Smooth Shoes Office Working... B072NRWW51 Parent , AdeeSu Womens Buckle Chunky Heels Low-Cut Uppers Urethane Pumps Shoes SLC03916 B07FJ72L5V ParentCOOLCEPT Women Fashion Middle Block Heel Mary Jane Closed Toe Court Shoes B073LWFJTP Parent , Allegra K Women's Chunky Platform Mary Jane Pumps B01AN33J1A ParentAllhqfashion Women's Round-Toe Buckle Pu Solid No-Heel Pumps-Shoes B07CYPRL5G Parent , Vionic Womens Dorrin Backstrap Sandal B01HP4KBO8 Parent , Fashion Rhinestone Sandals Shoes Slope with Muffins Shoes Woven Hemp Rope Platform Shoes B07D5GGW6R Parent , Lh$yu Women Sandals Ladies Chunky Sole Block Heel Sandals Shoes SizeWomens Ankle Strap Platform B07DCSVL51 Parent , YELLOW Sandals and Slippers for Women, Colour Bordeaux, Brand, Model Sandals and Slippers for Women Black Heart... B07GS5F15G ParentAngel love beauty Women's Ankle Strap Stiletto High Heel Dress Classy And Sexy Sandals(red And Black) (Color :... B07DT69HVC ParentHyun Times Pink Summer Shoes With Sandals Bohemian Flowers Embroidered Shoes B07BR17F4V Parent , Fourever Funky Women's Leather-And-Synthetic Platform Wedge Sandal B00BOWK1PC ParentMen's/Women's topschuhe24 Women's Clogs B072YGMHKT Parent Queensland Price reduction Different goods , Allhqfashion Women's Pu Open-Toe Kitten-Heels Buckle Solid Sandals, FBULD015210 B07H2B1P25 ParentMINITOO GYMZ696 Womens 3" Heel White Satin Evening Party Prom Bridal Wedding Shoes Pumps Sandals Flatfs UK 7 B074S24YGR 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.

ICHI A Parent ICHI Feeling B075FDYNZX Fw, Women’s Heels Sandals B075FDYNZX Parent a33cabf - kattskillbay.com

ICHI A Parent ICHI Feeling B075FDYNZX Fw, Women’s Heels Sandals B075FDYNZX Parent a33cabf Shoes

200098
447130
2137261
6013055
6988095
11028362
12719265
14313103
17755805