website header 2

website header 2

Friday, September 23, 2016



“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 [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!


No comments:

Post a Comment