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Friday, September 30, 2016

IT’S A WONDERFUL LIFE


“Every time a bell rings a trader loses his ass.” [Or maybe it’s an angel gets his wings; I can never remember.]


Still, I’m very concerned about price action here; gold should be up $20 if it’s up a dime, and you’re telling me with Deutsche Bank going down the drain, gold is up just a few bucks? I mean, big whoop … we go from 1322 to 1328 in a tortured climb; now, that doesn’t mean it can’t explode higher later, but for right now, it looks like a suckers rally.
2 trades today in gold; the first yielded a couple of pennies loss and the second captured about $3.50. Both buy signals were generated with the plum line slope change when the plum line is under the yellow line AND the market price is above the daily white horizontal line. The first trade I bailed out early; I’ve stated before my reluctance to stay long for any length of time given the trade lately, and the second trade I liquidated on the above average spike up since the trade started; got a good fill on the second liquidation because I sold [liquidated] on the way UP! You want good fills? You have to liquidate long positions on the way up, cuz after it starts to rollover, the LP will screw you blind and not even give you a kiss or send flowers.
Today’s trades in gold directly below.


Now, I want to make something clear here for Newbies to the biz; our algorithm trades have a very high probability of success for profit if liquidated properly. They are not guarantees! Just because I have an approximate 90%+ success rate, does not mean any single individual trade can’t go bad; it’s the reason we use relatively low leverage [approximate 10X or lower] and don’t do “stupid shit” like mortgage the house or trade at 100X leverage. Your millions of Dollars are out there waiting for you “one trade at a time” as you successfully build your account WITH CONSTANT APPROXIMATE 10X LEVERAGE. Every time you trade and make money, if you keep your leverage constant, the next trade will make you more money than before. After a short relative period of time [maybe a year or two depending on how aggressive you are], your winning trades become larger than your original deposit into the brokerage house!
In other words, you deposit $1,000 into an account and start trading 10 Oz. of gold [I currently recommend $100 in account equity per 1 Oz., which at current prices is about 8X leverage; close enough to 10 for government work.] and by the time your second anniversary rolls around, do you have any idea [think] what your account looks like?


I won’t bore you with the math, but your account balance will exceed $50,000, and you will be trading at least 5 lots, and that would equal $1,250 per day! Something for all of you to think about who are still stuck in the “Pudding Business”.
And as I write today’s blog post before the dog and I “hit” the beach, gold has reversed course, and peed all over itself right back down to the 1322 level [and then lower still] in a matter of 3 minutes [on, what else, Deutsche Bank rumors]; let’s see, what’s wrong with this picture? It takes about an hour to go up from the low of the move, and 3 minutes to go right back from where it came; folks, the dealer/bullion bank/commercial “bullion wall” of sell orders is still very much with us. And until the market can show me it can go up, and stay there for longer than about 10 minutes, I AM VERY WARY OF STAYING LONG AND OVER EXTENDING MY WELCOME; cuz if you have to sell [liquidate] on the way down, you aren’t going to be very happy with your fill from the LP [who, by the way, are hyenas of the highest order]. It doesn’t matter which brokerage house you’re at, your order to sell [liquidate] on the way down pays for all kinds of shit on the LP yachts. 


“Which part of this LP yacht did you contribute?”
[“Hey, did you see where I filled this guy? Hahahaha, what a chump. Thanks, and come again! More champagne honey?”]
Another thing of note: I mentioned the other day about the “Ichimoku” cloud formation; directly below today’s daily candlestick with Ichimoku overlay. Although today’s high didn’t quite make it to the bottom of the cloud, there’s no doubt in my mind commercials were “laying in wait” for anything remotely close, barring anything concrete from being announced about Deutsche Bank, to sell en mass.


Now, the gold volatility algorithm doesn’t incorporate the Ichimoku in its criteria for trading because it is too slow; that doesn’t mean it can’t give us some daily perspective as to where potential buy [support] or sell [resistance] orders are placed. As I said before, this indicator is big in the Pacific Rim, and the markets traders over there are in love with; and that means “anything Yen”, and that also means metals [gold, silver, platinum, & copper].
All in all, markets give us a “wonderful life”; freedom from corporate tyranny, freedom from government, and freedom from modern day societal slavery. I can trade anonymously, privately, securely, and it’s nobody’s business; I’m sure you can deduce from logic the ramifications of that. And here’s the thing; there isn’t any reason why you can’t be doing it!
Well, the dog is on DEFCON 1; keeps telling me it’s time to hit the beach for some sun & sand.
“Right, sun & sand; and you think I’m buyin’ it?


Have a great weekend everybody!
-vegas
OPEN A DEMO AND/OR LIVE ACCOUNT AT THE LMFX LINK IN THE “DOWNLOAD LINKS” SECTION OF THE WEBSITE TITLED “OPEN TRADING ACCOUNT – DO IT NOW!”


 






Thursday, September 29, 2016

DRIP, DRIP, DRIP: MORE SELLING


“At least somebody has the right attitude!”
Again today, turning the machines on produces another “for Christ’s sake, not another bullshit low volume, do nothing, search for buy/sell stops, worthless bucket of spit day.” Looking at the dog, he’s the only one taking everything in stride, as he teaches us all how to mentally adapt to bullshit trading days. In the infamous words of the Mrs., “when life gives you lemons, demand chocolate!”

Of course, as simple and as easy the volatility algorithm is to implement while trading, its design was much more complex and started with the premise “please trading Gods, keep my ass out of trouble, for I know not what I do!” Once you start there and work from that premise, now all you have to do is follow it; “To sleep, perchance to dream – ay, there’s the rub.” [Thank you Bill Shakespeare via ‘Hamlet’]
Because I got to tell you, some days I feel like the dog below.
As I sit here, I can’t help but feel the selling pressure of the commercials; it doesn’t seem to matter that Deutsche Bank & now Commerzbank are in deep trouble; it doesn’t matter that China’s economy is falling off a cliff. Nothing matters, the selling continues, and then [maybe] we get 5 to 10 minutes of short covering, that when it’s over, nobody seems to want to buy.
It’s nothing but a stop hunt, and if you can’t see that, when after a couple of hours of New York trading, then if you wander in and ignore algorithm rules, only pure luck will save you. Sorry, hope is not a trading strategy.
I don’t particularly like sitting here and watching slop; on the other hand, I don’t see handing money to the Liquidity Provider as something I want to do either. So, here we sit, patiently waiting for our opportunities.
Crude Oil on the other hand, has had 2 great buy signals worth about 60-70 cents per bbl. profit; I’ll leave it to you to explore them on your own if you’re interested. I captured the first one and left the second one alone due to the somewhat high range for the day. If you’re new to all of this, all the crude oil info & documentation you need is available in the “Download Links” section of the website over in the right column. Everything is free for download, or online viewing [mq4 files can only be downloaded] from my shared files at box.com. You don’t need to sign up or create an account; simply follow the link and read or download.
Tomorrow is another day … we’ll see what happens, but the small ranges coupled with falling volatility, when in fact it should be rising for this time of year, has me thinking the commercials are clearly in control of price, and that means lower prices ahead. I hope I’m wrong and they get caught with their pants down, but I just don’t see anything short of a total collapse of the banks in Europe to get money to flow into gold for longer than about 20 minutes.
The beach awaits.
Have a great day everybody!
-vegas

UPDATE: Well, that escalated quickly. Bloomberg reports large hedge funds are withdrawing money from Deutsche Bank over fears the bank is in trouble. Gold has popped about $3 ... we'll see if this rally has any "legs" going onto tomorrow. Maybe this is the catalyst to get this market going up again.
OPEN A DEMO AND/OR LIVE ACCOUNT AT THE LMFX LINK IN THE “DOWNLOAD LINKS” SECTION OF THE WEBSITE TITLED “OPEN TRADING ACCOUNT – DO IT NOW!”

 


Wednesday, September 28, 2016

TORTURE: GOLD STYLE


“FUNNY, I FEEL EXACTLY THE SAME WAY ABOUT GOLD!”


The only good thing to say about today is that it’s almost over; other than that, what a waste of time. Just because this game is simple, doesn’t mean it’s easy; I keep saying this to people who seem to have to learn the “hard way” that patience & discipline are the critical keys [next to actually having the algorithm of course] to making money. When the trade isn’t there via the algorithm rules, leave it the hell alone.
I must say, though, with all the news about the troubled condition of one of Europe’s largest trading banks [Germany’s Deutsche Bank], aside from one small pop up in price a week ago Wednesday when the troubles first came to light, gold has not reacted very well at all in terms of price. So, this answers one of the questions I posted last week, which was “will commercial sellers erect the ‘bullion wall’ of sell orders going forward?” I think we got our answer, and with today’s late morning move down below 1320, once again the vaunted 1300 level starts to come into play again.
Perspective can often offer us a glimpse into things that might otherwise not be seen, and for a great many traders, especially those in the Pacific Rim from Japan to Australia, the technical indicator “Ichimoku Kinko Hyo” is very popular in anything related to “Yen” & also the precious metals.
Now, I’m not going to be giving a tutorial here in Ichimoku; if you want to know more about the parameters, history, and it’s uses, all you have to do is “google it” and you will have more info than you need to keep you busy for years. However, having said that, the specific “cloud formation” the indicator creates is pretty damn good on a longer term chart at nailing support and/or resistance.
Directly below are 2 daily candlestick charts in XAUUSD with the Ichimoku indicator with the cloud formation overlay only; I’ve stripped out the other parts of the indicator because I find them less than useless. I have used 9, 26, 52 as the daily parameters for creating the cloud specifically because they are the most widely used parameters among traders. If this is in fact the case, then traders should buy/sell around the cloud and thus support/resistance becomes a self fulfilling prophecy.
Just as a side note, I don’t particularly find this indicator to be reliable for short term trading, like what we do with the gold volatility algorithm; it’s much better with longer term trading, and in fact, when I introduce my intermediate term volatility algorithm [sometime here soon] for crude oil [and by default some other markets to be named later as well], the ichimoku cloud formation will play a role. So, for those of you who want longer term trading buy/sell signals, you’ll get them!


[CLICK TO ENLARGE]



As you can see from the second chart, from yesterday it is only the second time since Nov. 2015 that gold has broken below the bottom of the cloud formation on the daily candlestick chart. So, unless this foray into “bearish territory” only lasts a day or two, you can expect an assault on 1300, and I’m telling you again, if/when it goes it will be ugly as hell if you’re long with a “protective” [hahaha] sell stop below. Anything below 1315, and especially 1310, if the support at 1300 gives way, it 1) won’t be orderly, and 2) your sell stop will get filled at the bottom of the spike down. So, while you “think” you’re risking $3 or so with a stop on a long position, in actuality you’re risking $20+. The upshot here is this: anything below 1315 in the days ahead, and you leave this market alone.
Obviously, I’ll have more on the intermediate term trading volatility algorithm later; for now, I wanted to give you some “perspective” on gold that doesn’t exactly look good at the moment. And I must say, just from a trader viewpoint, I haven’t felt good about being long gold very much this last month or two; I’ll make the algo trades obviously, but since Brexit and the days immediately following it, it very much feels to me like I’m banging my head against the wall going up against commercial dealers, and that’s why I have been pretty quick on the trigger liquidating long positions.
From where I sit right now, though, it’s going to take another Lehman Bros. moment from Europe and/or Japan, or a major sell off in the SP500 to get gold going significantly on the upside; subtract that out of the price equation for whatever reasons, and with yet again the FED on the November/December horizon with potential rate hikes, somebody tell me how gold vaults above the “bullion wall” of commercial sellers starting from the 1340’s all the way to the 1370’s? Don’t get me wrong, I’d love to see it, but even the idiots in the Pacific Rim have stopped buying gold out of the gate each day, and daily ranges have remained very tight with little interest.
All in all, a “messy” trade where you absolutely must follow algorithm rules to make money; I’ll say it again, “patience & discipline are your greatest allies in making ‘escape to success’ a reality”. In other words, don’t do stupid shit [“and yes, I know who you are!”].
And, of course, it’s that time of day again; “Master, is it time? … Yessssssss!!” Got the Vitamin C on ice, the dog is going ballistic with joy, and I got one foot out the door to the beach as I write. What can I say, it’s not easy being me. I’m soooooo outta here … until tomorrow.
Have a great day everybody!
-vegas
OPEN A DEMO AND/OR LIVE ACCOUNT AT THE LMFX LINK IN THE “DOWNLOAD LINKS” SECTION OF THE WEBSITE TITLED “OPEN TRADING ACCOUNT – DO IT NOW!”


Tuesday, September 27, 2016

SPIN RULES THE WORLD


HILLARY CLINTON DEBATE ANALYSIS


Most of the debate last night I heard on the radio, because as I said yesterday, I can’t stomach watching Cankles waddle around in one of her Chairman Mao pantsuits without throwing up; just looking at her almost makes me ill, let alone listening to her socialist “focus group” BS.
I’m sorry, I don’t like being lectured to by a corrupt politician who wouldn’t know truth if it bit her in the ass; lecturing me on race, taxes, and whatever SJW project of the moment. She’s a condescending elitist, who has bastardized her entire political career for making money off of “the great hustle”; that “hustle” being to game the political establishment through influence peddling, corruption, treason, and outright money laundering tax fraud through the Family Crime Foundation. She’s about as likeable as the ebola virus, and if her lips are moving, it’s a good bet she is lying about something, because that is what she does. If this country elects her, it’s over; make plans to get the fuck out ASAP before she confiscates your wealth.
On the other hand, I don’t know if Trump will be a good President or not; I’m willing to make the case that he has the potential, but nobody really knows. One thing I can say for certain though, is that it would be almost impossible for him to be any worse than what she will certainly bring down upon the Sheeple of the U.S.
Vampire Squid & crew most certainly had the “false flag” rally already in mind before one word was spoken last night; a really pathetic attempt to muscle the market higher [SP500 higher, USDJPY higher] followed by the obligatory MSM financial types labeling it the “Hillary Rally”; talk about “spin” that is out of control. Of course, when it was over and the polls started rolling in, only the lefty shitbox CNN [Clinton News Network], which the Japanese Home Shopping Network out of Billings, Montana has a higher viewer rating, had Cankles winning; everybody else was a slam dunk for “The Donald”. Again, the Clinton “spin” was at work, but nobody is listening to them anymore.
Nothing really affected gold overnight, and the early New York range was just a little over $5; basically a dead night. That all changed slightly after the 8:00 open, and we got our first legitimate downward waterfall in quite some time. While the range at that point was still a miserable $10, it did set off a buy signal with an exhaustion hit at RM=1. Directly below the trade of the day.



Since then, the daily range has expanded out to about $13.50, but so far [as I write] no other waterfalls or exhaustion line hits. Remember, waterfalls that occur below the daily white horizontal line must 1) be larger than normal since the move started down, and 2) the range for the day needs to be over $12 if the waterfall does not hit the exhaustion lines; you need both criteria to initiate a buy.
Again, for you “Newbies” out there visiting the website maybe for the first or second time; again today, the facts don’t lie, and the gold volatility algorithm nailed the exhaustion line hit with about a $3 move from top to bottom; since nobody is “perfect” your gain should have been in the $2.00 - $2.50 per Oz. area.
Day-in, day-out, the gold volatility algorithm nails this market for profits; obviously, some days better than others. But there isn’t one of you out there that can show me on the MT4 trading platform an XAUUSD M1 candlestick chart with algorithm overlay, going as far back as you want, where the algorithm led to losses for the day or had a “big hit” drawdown. Only if you “pressed” your trades past where the algorithm recommends you stop after the appropriate range has been achieved, do the probabilities for profit from the signals breaks down and goes lower. If you follow the rules, you make consistent profits, and when you don’t, well …
Both ASSETS FX & LMFX have superior spot gold markets compared to the rest of the industry; they are practically identical in terms of net cost to trade in 1 Oz. increments; both are right around $0.25 per Oz ± a couple of pennies either way. Although I can’t prove it, my belief is they use the same liquidity provider on their MT4 platforms.
So, no matter what your preference is, no matter how small your account is, and the fact you can download the algorithm and documents for free over in the “Download Links” [right hand column] section, my only question is what the hell are you waiting for? “Oh yes, please, tell me again how much you love the ‘Pudding Business’ just one more time, cuz I love to hear it!”
And, as my regular readers know, I support what I write and release to the public, so if you have any questions/comments, drop me a line at traderzoogold@gmail.com and I’ll get back with a personal response ASAP.
There isn’t enough Corona’s & Limes on this island for me to drink to get that image of Cankles in her red “power” [“see, I’m OK, I’m not sick!] jumpsuit out of my mind; but hey, I’m gonna try anyway. The dog is getting antsy, and he’s walking around with the leash in his mouth, cuz when he sees me typing the blog on my PC, he knows we are close to going to the beach. “Master, you’re killing me here… C’mon man!” I’m soooooooo outta here … until tomorrow.
Have a great day everybody!
-vegas
OPEN A DEMO AND/OR LIVE ACCOUNT AT THE LMFX LINK IN THE “DOWNLOAD LINKS” SECTION OF THE WEBSITE TITLED “OPEN TRADING ACCOUNT – DO IT NOW!”

Monday, September 26, 2016

THE TRADING ABYSS: MONDAY EDITION

“Nah, I lied!”


Same old Monday shit, different week is all; markets are mostly quiet across the board, with some downward pressure on USDJPY, stock indices, and gold “lightly” bid, and of course crude oil all over the place as usual.
Today’s trade in gold directly below.


Once again, for the sake of the “Newbie” community out there who are wondering if “I’m full of it” or if the volatility algorithms are the “real deal”, again today for the umpteenth time the gold volatility algorithm nailed the first move of the day, capturing the early move to the day’s high [so far at least] at the RM=1 exhaustion line perfectly. If you were long from the buy signal, you knew exactly, in real time, where to click the liquidate button to get out.
Underpinning today’s light strength in gold is the deteriorating condition of Germany’s largest flagship bank “Deutsche Bank”, and of course some light strength of the Yen versus the Dollar. It isn’t so much the “condition” of the bank that matters, it’s their “derivatives” book, which is in the multiple trillions, that has people all over the financial landscape wondering if Deutsche Bank is the next Lehman Bros. This fear has been a recurring theme the last few days, and has put a “bid” under gold.
I know for many of you, the trade of late has been frustrating on many levels; but, there isn’t anything you or I can do about it. You get “stupid” and start straying from the algorithm rules, and you are going to be very disappointed in your results; you have to be disciplined and show patience, and if you can’t do that then trading will take all of your money sooner or later [usually sooner].
Follow algorithm rules, and it’s not a question of “if” you can make millions trading over your career, it’s simply a matter of time. Stray from algorithm rules and there isn’t enough time left in the universe for you to get there. 


Learn the lesson from ‘Patient Bear”, who sits patiently and waits for what he wants; and what the bear wants, he gets.
Grab the popcorn, pop a cold one, and tonight enjoy the most anticipated political debate since Nixon-Kennedy in 1960; finally, a chance for the entire world to see Cankles for what she is; a lying, corrupt, influence peddler who wants so badly to control your life because you are to inept to know what’s good for you. I’ll be listening to the debate on the radio [Alex Jones live feed] cuz there is no way my brain can handle the visual of her in one of her “Chairman Mao” jackets [or Captain Kangaroo jackets] yipping like a Chihuahua in heat for 90 minutes. I couldn’t afford the therapy necessary to make me normal again [“Umm please, define normal.”]. Until tomorrow …
Have a great day everybody!
-vegas
OPEN A DEMO AND/OR LIVE ACCOUNT AT THE LMFX LINK IN THE “DOWNLOAD LINKS” SECTION OF THE WEBSITE TITLED “OPEN TRADING ACCOUNT – DO IT NOW!”





Friday, September 23, 2016

WHOOPS!


THE WAY OF LIFE




“C’mon, admit it, you missed me yesterday didn’t you? [crickets] Hello, testing 1,2,3,4 … anybody home?”
It was simple enough; I had planned on upgrading my computer systems over the weekend, consolidate everything up into the “cloud” over at box.com [the place where you get the free downloads that I share with all of you], and then get the new system up and into place before Monday’s open. Sounds like a plan, right?
“Ohhhh, so sorry, I got other plans … I’m dying frickin’ now! Am I being difficult?” And so, I made the command decision, after yesterday’s computer death at around Noon time Caribbean Paradise Time, to go ahead and “bite the bullet”, spend the necessary 5 -6 hours doing everything, and basically just get everything done yesterday. I eventually got everything done about 7:30 last night, so the good news is I got my weekend freed up!
Looking back at the FED meeting on Wednesday, even though 3 members voted for a rate hike, their “squishy-ness” along with the BOJ unleashed a pretty good short covering rally in gold, which by the way, the algorithm nailed very well. Questions now are; “Ok, we’re back up here in the 1330’s to low 1340’s, now what? Is the selling ‘bullion wall’ still there just slightly higher? And lastly, having gotten their shorts bunched up and shove down their collective throats, how aggressive will commercials be up here in attempting to get the market back down and maybe crack 1300?” I dunno, but I wouldn’t rule out a move back down again; and, if we get below 1315 again look out below.
I finally got a response from Black Pearl on their crude oil pricing scheme over at ASSETS FX; “Our spreads reflect competitive pricing consistent with market liquidity.” In other words, STFU and sit down and trade. Well, I responded back by saying, “bullshit, and I’m not trading it through you, so take that and stick it … I’ll be at LMFX with your lost revenue … Have a good day assholes.” [Do you think this means I’m off their Christmas card list this year?]
And, as I’m sure you recognize, this is just more of the same corporate “bullshit-speak” that most of the world engages in these days; i.e., saying something totally inane and without meaning while trying to impress upon you “deep thoughts”. Well, if I want deep thoughts I’ll go here directly below.


No trades today, as the ranges coming in to this morning were absolutely abysmal in scope; at times it looked like the machines were closed down. Today’s market action [in everything, not just gold] is pretty much pathetic; I’m hoping it’s just a desire to get to the weekend, but this “feast or famine” trading environment we have been facing the last couple of months is growing tiresome and cutting profitability, as well as being a psychological drain.
In case you haven’t noticed, gold is tracking USDJPY … parts of the day tick-for-tick, other times more broadly speaking within general parameters of a short up/down trend on the M1 or M5 chart. Keep an eye out for USDJPY going below 100.50 and then 100.00 for clues as to the viability of gold being able to surmount resistance @ 1350 – 1370 levels. If USDJPY isn’t going below 100, I think it’s going to be extremely difficult getting gold to rally past the “bullion wall” of selling that is above the market.
At this point in the day, on a Friday, I’m mentally already at the beach drinking Vitamin C; the dog for his part is sitting here anxiously awaiting any signal whatsoever it’s time to go … talk about being at DEFCON 1, he’s there. “NOW! Wait … what? No?. well, c’mon man … Ok, I’m ready!!! Wait … what? No again? Geesh, what’s your prob here? Sun is shining, sand is white, AND MASTER THE BABES are already on the beach!!” 
Does he look ready?
I can read his mind, and it’s tough to argue against his logic here. Ok, let’s go … I’m sooooo outta here.
Have a great weekend everybody!
-vegas

OPEN A DEMO AND/OR LIVE ACCOUNT AT THE LMFX LINK IN THE “DOWNLOAD LINKS” SECTION OF THE WEBSITE TITLED “OPEN TRADING ACCOUNT – DO IT NOW!”

Wednesday, September 21, 2016

REDEFINING “STUPID SHIT”

MARKETS REACT TO KURODA & CREW


You know, some days you just can’t make this shit up; I mean, I was pretty confident the hapless BOJ would screw things up, but I had no idea that a group of academic MBA planners in Japan could come up with this “brilliance” of attempting to “manage the yield curve”. Nobody but nobody does “stupid shit” better than the BOJ; I’m just in awe of their stupidity, what else can I say really?
Jawboning the Yen lower? Sure, that lasted all of a few minutes before reality set in and the world discovered once again, in the words of one analyst, it’s “all an illusion”. Well, no shit Sherlock, it’s what these people do.
Remember, these are the guys who have literally killed bank balance sheets with negative rates; now, here comes the fix. “Hey, we’ll just steepen the JGB yield curve so you can make money … see, we’re listening … all is better now … right?” Only problem is that the very same people who are responsible for the banking sector problems are now the ones with the solutions; “gosh, what could possibly go wrong here this time?”
Natch, on the back of the subsequent Yen rally [USDJPY lower], gold has been rallying since the “Oracles of Tokyo” made their announcements; problem for gold now is that the market is projecting Japan’s stupidity into “Yellen won’t hike rates”, and the short covering has commenced into the New York session, lifting gold about $20 off the lows with 3 upper line exhaustion “hits” on the way up. Now, if we get “nothin’” from ChairSatan Yellen on rates, there won’t be much air in the balloon to catapult prices higher; if rates get hiked, you better have a parachute for the nasty trip down.
So far, it’s been a very good morning of trading given Japan’s stupidity; this is just “Part I”. Now it’s time to catch a few zzzzz’s and await “Part II”; i.e. the “Oracles at the Eccles Building” when they piss all over themselves @ 2 PM Eastern trying to explain why nothing or something is the right call with language no translator except a government bullshit artist can possibly figure out.
So, I’m posting early today so we can all bask in the brilliance of our “fearless leaders” when the time comes, and step back and reflect on just how fucked up this country has become; politically, financially, and of course socially. I need a little sleep cuz I don’t think my brain can handle the bullshit that is set for 2 PM without a reset. Until tomorrow … [“No, we ain’t goin’ to the beach ‘til later … I got to get some sleep here … OK, here’s a Beggin’ Strip … now STFU and lay down.]
Have a great day everybody!
-vegas



Tuesday, September 20, 2016

WHAT IF NOBODY DOES NOTHIN’?


THE “PUDDING BUSINESS” IS STARTING TO LOOK GOOD


I think the markets greatest fear is that the BOJ [11 PM New York time for actual decisions on rates, 2:30 AM New York time for the presser with Kuroda & Crew if you’re interested] will “sit tight” and while they do nothing will “jawbone” the market to try and take the Yen lower [good luck]. And if that happens, it leaves the door open for the FED, which I think has a very good chance of raising rates, to knock the shit out of everything.
But what if they both do nothin’? Would that mean markets are on hold until December? [Better dust off that resume to the bearded lady at the circus.]
I don’t know folks, but I can tell you this about gold; it very much feels like it’s going lower no matter what the asshats do or say. In the last 2 days, have you seen any short covering of significance after the recent move down from the 1350’s? Well, I haven’t, and that gives me a sense most commercial shorts are comfortable in their positions, and aren’t worried about what the BOJ & FED might do or say. Sub 1300 here we come.
Now, I could be all wrong about this; they both could be dovish and we get a massive move higher in short order and catch the entire crowd on the wrong side of the trade. Boy, would I love to see this!
And much to the delight of the entire financial elite community, volatility in pretty much all markets has collapsed today ahead of these 2 meetings; there aren’t any trades to be made anywhere that justify a position in this slop.
And speaking of slop, no comments from Black Pearl to Yours Truly on the blistering emails I sent them yesterday about the crude oil CFD’s at ASSETS FX, where you too can get screwed by a liquidity provider that sees you as solely an income source to be “milked” like a cow. “Hey, if we do it slow enough you won’t even feel it!”
No comments from LMFX either about their PAMM’s; silence all around as they take their sweet ass time getting things done. I mean, God forbid, let a customer know when shit will be done; it’s like they do this intentionally, almost like the airlines, they alienate and piss all over their client base and then are shocked to find out people hate them and wish there were alternatives to using them.
In essence, the financial trading business is a complete and utter mess. As retail customers, we face 2 big problems; 1) all, and I do mean ALL, brokerage house management types are lying sacks of shit, that will say anything, promise anything, and then deliver nothing like what was agreed upon, then look you in face and say, “what, what’s the problem?”, 2) the entire industry views your account as a source of revenue that is theirs, not yours; that money you put in, that’s theirs not yours; your money is just “borrowed” from them for a short while, as management in cahoots with the LP’s figure out how to separate more money from you every time you click the button.
As I have stated numerous times, the PAMM concept is in its infancy; it’s only been around for a couple of years, and the early years were a total disaster in terms of 1) fees, 2) outrageous spreads, 3) outrageous round turn commissions, and 4) slippage on fills. On top of this, pretty much everybody in the trading business from the brokerage house & LP side viewed “managed money” as “chump money”; money we can screw and at the least take advantage of with fees.
Sadly, not a whole lot has changed much; in the last 5 years I’ve hosted 6 PAMM’s that had to be shut down, either because the brokerage house no longer wanted U.S. clients or money managers [3], or because when I started trading spreads ballooned, slippage increased, round turn commissions increased, volume quotas were instituted, or a combination of all four and I simply said, “this is bullshit, and I’m not screwing my clients, so shut this thing down. This isn’t what I agreed to!”
To be sure, some brokerage houses & LP’s are clearly better than others; that doesn’t mean they aren’t lying sacks of shit, it only means they don’t stink as much. I’m trying very hard to show patience and remember what it is that is at stake in this business; I know “Rome wasn’t built in a day”, and I fully realize from the annals of business history these things take time. But for Christ’s sake, you would think one of these outfits would get their act together and dominate the business; sadly, so far, it’s amateur hour on a massive scale. Until tomorrow when “stupid shit” happens … I’m so outta here.
Have a great day everybody!
-vegas