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Wednesday, May 24, 2017

THE SMELL TEST


“When it dawns on you everything is a pack of lies!”

Yesterday we finished up for the 4th day in a row, after the “Trump Dump” cuz he was gonna get impeached, on the lightest volume ramps I have ever seen in my trading career; after getting totally slammed almost 500 Dow30 points in 36 hours, suddenly at the European open on day 1, thank you very much central planners, it’s off to the races … 5 days later here we sit on what I call the “Vapors rally”.


Scanning the financial press this morning, I see over on ZH that Asher Edelman went on CNBC and told the “talking heads”  on “Fast Money” he isn’t in the market anymore cuz the “Plunge Protection Team” is behind the latest bogus rally, and he doesn’t want to be caught when they “pull the plug”. “OMG! Stop the presses! Can you imagine the horror … oh, the humanity … on whichever clueless Infobabe happens to have the studio feed in her ear when he says this on live TV … this is blasphemy … this is heresy … Asher, don’t look to be invited back anytime soon OK”? But that’s not the real news.

No, the real news is immediately after, when somebody tweeted the obvious; can't believe @AsherEdelman just talked about the PPT on @CNBCFastMoney. Didn't think anyone was allowed to talk about it. That was crazy”. And so, when everybody finds out the “emperor”” has no clothes, what happens next?

And of course, unless you want your first appearance to be your last ever, there are some things you just can’t do on CNBC; 1) criticize the FED or ChairSatan Yellen, 2) say anything negative about Uncle Warren Buffet, especially when Becky Quick is around, 3) say anything negative about Cankles Clinton or Ex Preezy Empty Suit cuz most hosts are Libtard Dems with bylines, and 5) mention government intervention in the holy temple of Wall Street, even though everybody and their brother knows the ECB, BOJ, & SNB are active manipulators right along with the “Plunge Protection Team”. “Oh wait … if they never mention it, that means it doesn’t exist … right”? I’m predicting right now … this isn’t going to end well.

Simply to put a cherry on top of this idiotic cupcake known as the USA, from the financial to the political … well, whaddaya know … “I’d just like to know where the “outrage” is on the left”? Directly below the link to ZH.


“Oh wait … I forgot … he’s black & a “DEM”, so that makes it OK … I’m waiting for Maxine Waters to start an investigation … if it weren’t for double standards, Libtards wouldn’t have any.

Turning to today’s market … of course we open higher … isn’t there a law or something? … I, for one, can’t wait until they make downticks illegal; now you got something! … watching the first hour, if this isn’t manipulative trading, then I don’t know what is … seriously, this is a sick joke … since the start of 2016, right after the “Plunge Protection Team” [PPT] cleaned up the FED mess left by Yellen & Fischer at the end of 2015, moving to Brexit, and then the U.S. election, and now to the melt up, I don’t think anything pre 2016 means anything anymore in the stock indices … it’s a new game of coordinated manipulation, and come hell or high water, the central banks are going to ramp stocks to levels you never dreamed of in your wildest dreams, in order to pursue policy objectives they deem desirable. WE MAY NEVER SEE A 2% DECLINE IN THE SP500 OR THE DOW30 AGAIN.

Now, I know some of you think I’m being sarcastic, but I’m not; what’s happening is very large bids under key stocks are driving trading action, and everybody and their brother knows who it is that’s doing it [SNB, PPT, BOJ, ECB, etc.], and they are simply “front running” the bids … this is the reason for absolutely no downside trading action whatsoever … why sell into the bid, are you crazy? When the bids get pulled, trader’s panic to sell, and that’s why we get these 15 point 30 second down moves … when the bids come back, they panic buy to “front run” yet again. And what the SNB is finding out, and most likely are not very happy about, is all the front running of their orders … which is why they pull them to screw with trader’s heads and cause them to lose money. How else do you explain this unexplainable action I’m looking at on my screen? “Government lies at all levels, Pols lie, the FED lies, the talking heads in the MSM lie … it’s all lies, deception, and deceit … and now the market lies and is almost 100% totally controlled day-to-day by central banks and their sycophant Apparatchiks who drink the Kool-Aid. Simply put, they see no reason stocks should ever go down; and as proof, I would suggest you remember what Fed Pie Hole Bullard was told to do, the day after the "Trump Dump" when he suggested maybe no June rate hike and more QE in the future. Anything to change the narrative and “wink-wink, nod-nod” to the big money that we got your back … mission accomplished, the selling dried up, the PPT went to work along with the SNB, and here we are back to the highs in a flash. It is what it is, and to ignore the obvious is to be delusional”.

And so here we sit, and I’m supposed to believe it’s all because we are waiting for Fed Pie Hole Minutes @ 2 P.M. EDST? Where’s the “profit taking” the glorious talking heads love to spit out anytime there is the slightest bit of selling? Where is the volume? Where is the frickin’ trade that isn’t 100% attached to a central bank bid in Apple & Google? Try nowhere, that’s where. And every single time, almost without exception, somebody comes in and sells, immediately the PPT or the SNB pretty much says, “no, no, can’t have that”!, and then immediately bids it higher to regain the lost ground. It’s gotten to the point where they won’t let the SP500 go down any more than about 2 points and the Dow30 about 20 – 25 points, before frantically raising bids in large quantities to get the market back its lost ground … quite frankly, I’m beginning to wonder how long this can go on before something really, really ugly happens, making October 1987 look like a “downtick”. Nobody is bigger than the market … nobody … the hubris of the central banks is “off the charts”, and some day there gonna find out what a “melt down” really looks and feels like … when that day comes, and it surely will, look the hell out.

Last night I had a session with Microsoft tech support for my Office 365, specifically my Excel spreadsheet which isn’t working… seems the level one college dropout trainee knew even less than I did … so, tonight, same time, I get the next level of super duper customer service from a company I literally detest on every level … I’ve been “assured” it will get resolved tonight … “umm yea, sure it will”. So again tonight, I get to spend time with Microsoft … I think I got a tingle down my leg.

If you ever needed more evidence of Government lies & deception on a scale that would make any dictator proud, all you have to do is read the Minutes of the Fed meeting from last month; truly delusional and they simply have no clue what the hell they are doing. This is gross negligence on a massive scale. But it doesn’t matter, cuz even though rates are going up in an environment of global slowdown and terrible economic stats, we’re assured it’s “transitory”. What if it isn’t? And on cue, stocks take it all in stride cuz the large bids are underneath Apple, Google, etc. and who in their right mind is going to hit them and sell? Somebody please, tell me who?

Ok, it’s twenty minutes after the Fed nonsense so we can go back to nothingness again; slow grind higher with bolts down that go nowhere followed by more slow grind higher, and of course all on non-existent volume. I’m sorry, but this is a gigantic F-ing joke, as all rallies come on “vapor” as the central banks adjust their bids and traders panic to get in front of them … then literally zero price movement until they again decide to raise their bids, at which point we gap 20 higher again … rinse & repeat until Jesus returns. You want some proof? Directly below.
 



Oh yea, tell me how “normal” the chart above looks; it screams manipulation. I’m telling you folks, we are in a brand new ballgame where the rules have been changed drastically … to be sure, we will get our shots at buying at lower levels … but anything you look at prior to 2016 doesn’t mean anything anymore. All that matters anymore to these markets is what the central planners got planned for the day … that’s it, and to ignore it or refuse to acknowledge it is going to be a problem for you.


One trade today that led to nothing … a scalp after the Fed Minutes looking for buy stops above 21000 … didn’t get any so exited with very minimal gain rather than hope for a rebound that might not come [and it didn’t]. All in all, another pathetic day for U.S. finance … across the board it’s terrible action, with a mini flash crash in the Russell 2000, blatant manipulation in the bond market [via ZH], and of course our own Dow30 which sings to the desires of the SNB & PPT. If only my investment finance professors from back in college could see this; I can only imagine their utter horror at what is going on and what passes for policy in government … what a clusterfark. Tomorrow is another day, with Super Mario’s turn [ECB] at 08:30 A.M. in New York for another installment of complete policy stupidity from Europe; oh joy.

Finally, as the trading day draws to a close, if this isn’t the sickest rally I’ve ever seen, then I simply frickin’ have no clue … no volume ramp on central bank bids … oh yea, count me in … nothing says “buy stocks” more than the FED using the word “Transitory” to describe abysmal economic & global conditions … only thing is it’s been abysmal for over 6 months. Next stop Dow30 @ 30,000 by end of the year … why not, when you got CNTRL-P at your disposal and there are zero consequences for your policy genius … makes sense to me.
 

Time for a little beach until another of the  Microsoft Excel “whiz kids” comes a callin’… the dog and I are outta here … until tomorrow.


Have a great day everybody!

-vegas

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