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Tuesday, February 20, 2018

DEBTMAGEDDON !!

“Don’t worry … you can always work for the Gubermint Treasury Dept.!”

Last night, I updated the “PAMM/MAMM Managed Money Program” PDF, 
located in the “Download Links” section in the right-hand column; it now 
better reflects my thinking on the program given the changes over the course 
of 2017 and into 2018, specifically my use of the “Scalper’s Algorithm” and  
“The Teacup Handle Turn”, with “The Magnificent Seven”.

There are some significant areas of interest all of you should take note: 
1) Turnkey no longer takes debit/credit card deposits, 2) BITCOIN [BTC], 
the crypto-currency making headlines almost every day somewhere, can now 
be used for deposit/withdrawal into your account, and 3) Ethereum is on the 
way in the near future. And yes, the BITCOIN option is available for all 
accounts, even those in the U.S.

This is a major development, as it now gives Turnkey customers/clients 
additional choices for deposit & withdrawal. At present, all accounts can use 
wire transfer to/from your bank for deposit/withdrawal; Turnkey will 
reimburse wire fees from your bank for deposits into your account for 
funding, and there are no fees to withdraw, as Turnkey eats the bank fees on 
their end. However, with BTC, transfers can be made easier and faster than 
via wire transfers. It also affords a level of privacy and anonymity many 
traders look for, and I’m really happy my efforts [along with a lot of others to 
be sure] over the last year, to get them to accept crypto have been realized. It’s
a big step, and I’m glad they made it.

The problem with debit/credit cards is not the technology, but the card service 
providers under the Mastercard & Visa agreements they have with the U.S. 
government and the unnecessary rules and regulations the idiots in D.C. place 
on them … guess what? … it’s not working, and the delays and fees charged 
aren’t worth the hassle … in the end, they lose the business.

Turning to today’s market … it’s all about the massive $258 Billion in fiat 
paper the Treasury starts peddling, in a series of auctions that start today and 
go for another 2 days … and here’s the kicker in my view … about 80% of this 
massive amount of money is simply to roll over existing debt, while about 20% 
is to raise new cash … of course, in anticipation of this, Treasury yields across 
the curve are higher today, due to the amount needed by Uncle Sam … today 
alone, the amount they need to raise is $179 billion in 1, 3, 6 month T-bills and 
2 YR. Notes … “Does money have any meaning anymore? How long can this 
Ponzi scheme be kept alive before the whole shitshow goes bust”? … And that 
fear of potentially sharply higher rates has the SP500 spooked, and EURUSD 
heading lower … not that any short position is going to make you money, but 
being long in this calls for caution in the extreme.

Almost Noon in New York, and the entire day for EURUSD has been a slow 
grind lower … with the exception of 20 minutes where it rallied 40 PIPS 
straight on news Mueller indicting some lawyer for lying to the FBI … another 
worthless indictment from the most corrupt gang of Apparatchiks the “free 
world” has ever seen … remember, Mueller was head of the FBI during the 
Uranium One scandal starting in 2009, involving bribes, kickbacks, extortion, 
& money laundering so Vlad could get 20% of the U.S. uranium supply … how 
do we know this? … Simple: undercover FBI informant saw it all, and reported 
it to his superiors … what did Mueller do? … not a damn thing … and this is 
the guy handing down indictments from on high via a “we can indict a ham 
sandwich”, rubber stamp, grand jury that isn’t worth a warm bucket of spit. 
“Somebody tell me, where’s the jail time for these assclowns when they lie & scam 
the American people”? 

In any event, from the [so far] low of the day, it’s a straight shot up the ladder 
40 PIPS in 20 minutes … since then, it’s complete torture for longs, as 
EURUSD selling is relentless on any and almost all upticks. Cuz now, 
everybody is waiting for 12:30 P.M. New York time, to get the T-Bill auction 
results, and how bad the rise in rates to get the cash actually was … and after 
that at 2 P.M. EST, we get the rest of the day’s supply of worthless toilet paper. 
“I’m just amazed anybody buys this shit at all … we are a BANKRUPT country 
for cryin’ out loud”! And so, here we sit, all markets “held hostage” by a bunch 
of T-bill auctions, EURUSD included; from 6 hours ago, nothing but mindless 
chop inside another “Flying Wedge of Death” [FWD].

Of course, don’t be surprised if the “Plunge Protection Team” [PPT} shows up 
at auction time and gooses stocks sharply higher; after all, we have to maintain 
the illusion [more like delusion] that everything is just “peachy keen”, and that 
there are no worries going forward … what a bunch of “bat guano”.

And the fun doesn’t stop with today; tomorrow sees FED minutes, and on 
Thursday we get the ECB minutes, right along with the longer issued paper 
from Treasury … so, get ready for some disjointed, sharp, & quick moves, as 
EURUSD reacts to market moving events. 

The Chuckleheads in Asia really didn’t do much overnight; a little lower, but 
nothing significant … the decline in EURUSD came from the start of the 
European open … the rallies today, have been few and far between … if your 
timing isn’t perfect, you got a problem … it makes a very difficult trading 
environment, especially if risk is paramount in your thinking.

Only one trade today … PAMM up a tiny amount, nothing significant. 

I got long at the right time, but the rally stalled slightly above my entry point 
… given the fact the market is lower and below the 50% retracement level, I 
didn’t want to hang around and find out what happens next … and just for 
the record, “next” would not have been good. Really, a poor trading day from 
the market coming off a Monday Holiday … there should have been more to it 
than what we saw, but given the central banks forthcoming “minutes”, from 
their last interest rate meeting and how those affected EURUSD dramatically, 
it shouldn’t be a total surprise market traders are a little hesitant to place large 
bets beforehand. In any event, it is what it is, and I deal with it, but I’m 
disappointed in the action we saw today … very sloppy and choppy from the 
European open to my end of the day here around 2 P.M. EST; nothing but an 
11 hour “chopfest” … it would be safer with less risk wrestling alligators.

A final bookkeeping note: at the end of this month, I’ll be archiving PAMM 
results in the “Download Links” section over in the right-hand column; I’ll be 
adding to the archive each month as it passes. This way, readers/clients can 
see, in an easy format, results going back in time, without having to go back 
and visit past blog posts. 

I’m a little disappointed the biggest rally today came on idiotic Mueller 
indictments; why EURUSD spiked higher on this is beyond me, as it has no 
bearing on anything except the lawyer it affects … well, that’s the market for 
you, but it caused an awful lot of shorts to cover, and thus in the process, 
robbed subsequent rallies of “fuel” for further advancement. And just as an 
aside, today’s action is why the 50% retracement line is important … you can 
see just how difficult it is for the market to rally when price is below it. 
Tomorrow is another day … I’m outta here … until tomorrow mi amigos 
… Onward & Upward!!

PAMM spreadsheet directly below.


Have a great day everybody!

-vegas

OUR TURNKEY FOREX “PAMM/MAM” IS NOW OPEN AND
OPERATIONAL; SEE “PAMM/MAM MONEY PROGRAM” IN
“DOWNLOAD LINKS” SECTION IN RIGHT HAND COLUMN
FOR DETAILS [VIEW ONLINE AND/OR DOWNLOAD] AND
START YOUR JOURNEY FROM WHERE YOU ARE AT TO
“ESCAPE TO SUCCESS”!

  
 



 













 

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