AS THE TRADING WORLD TURNS … [POLS EDITION]

 

“Where all of the Swamp creatures call home!”

As I said yesterday, correlation traders who thought EURUSD had to go down 

cuz of the Turkish Lira, etc., and all the contagion in the E.U., got mauled  

“bigly & yuuuge” in the last 5 days, thank you politics. Trying to pick the top on 

the way up and not get burned badly almost impossible … so, here we are the 

fifth day in a row to the upside off the yearly low, some 300+ PIPS, and unless 

the stench of D.C. gets worse [hard to imagine], EURUSD is due for a pullback. 

The EURUSD tree especially, doesn’t grow to the sky … and not if but when it 

stops, the “unwind” is usually ugly … that brings us to today, where going 

forward from the blast above 1.16000 and cleaning out some more shorts, is 

more than likely to see some “Thelma & Louise” happening real soon … and 

the thing to keep in mind, is the scumbag LP banks aren’t gonna make the 

process smooth for anybody hitting the sell button … especially if the FED 

minutes due at 2 P.M. EST turn out to be “dollar friendly” … watch the fun 

ensue if longs hit the exit gate.

FED at 2 P.M., and even if there is little if any reaction, there should be some 

attempt at a sell off greater than just the few PIPS we’ve seen in the last 5 days 

… this has made me extremely cautious today, cuz although there have been 

buy signals, what you’re biting off if you take them is a whole lot of potential 

downside in just a few M1’s, that you have no idea where they stop. 

Turning to today’s EURUSD market … “lightning in a bottle then crickets”  

… Asia was quiet, Europe completely dead until mid morning, then things 

heated up as the U.S. entered the day … market needs to correct, and selling 

tops is worse than wrestling a pride of lions, cuz the short covering blasts up 

are vicious and stops filled at the highs of the move no matter what you do. No 

way to make this back if you get caught.

The problem with any buy signal today, before the FED minutes are released, 

isn’t the fact they will work, but work by how much? … Cuz it doesn’t do us 

any good to see us up 2 PIPS over 9 minutes, and then in 10 seconds see 

EURUSD get “tapioca-ed” lower by 12+ PIPS in some kind of sell off, where 

you got no idea if this is the start or end of a break. So, the problem is the scope 

of the red M1’s going down, and until I see some sort of long liquidation with 

sell stops hit off [soon mi amigos, very soon I think], why buy when this stuff 

off yearly lows is up like it is and there has been no real liquidation as of yet?

Intraday volatility today a complete joke … one minute off the charts, then 

minutes later it collapses to levels that remind you of a market that is closed. 

My proprietary “volatility heat map” acts like a sine wave roller coaster … and 

there’s no way I’m taking a trade when EURUSD can’t move 3 PIPS in half an 

hour … “then SHTF, and it’s like TNT went off for a few M1’s, and then it’s back 

to crickets … this isn’t trading, this is roulette … there isn’t any market here, only 

scumbag LP banks front running corporate orders via their offshore IBC prop 

accounts … and then it’s on to the next order to screw. There’s no volume, no 

liquidity, and a market that is solely influenced, at least for today, by politics in 

Washington … welcome to the August shitshow”!

So, trading today very much influenced by very low volatility at times, and the 

FED at 2 P.M. … and as I said before, it doesn’t matter if the buy signal is good 

… how good; a PIP over 10+ minutes? … and then what happens if the next M1 

goes down 5+ PIPS in 5 seconds, like it’s done about 15 times already today? 

And despite all the rush to take EURUSD over 1.16000 today multiple times, 

here we sit as I write, below 1.16000 as the down M1’s were brutal in scope and 

timing … looked and felt like the entire exercise was nothing more than buy 

stops being hit off and faded with passion by the scumbag LP banks. Looking at 

the other side, only complete terror as shorts get mauled in literally seconds by 

spikes from hell … any buy stop of course, filled at the top by the usual 

suspects.

“Well, that escalated quickly didn’t it”? … what a clusterfark … nothing like a 

little sell stop manipulation right before the FED minutes, as if somebody knew 

ahead of time what was coming … “nahhhh, couldn’t be … everybody knows 

financial markets are honest & legit … right”? Add to that the gap pricing from 

the usual New York scumbag LP banks, and somewhere Vito Corleone has 

tears in his eyes. Twelve minutes of “rape & pillage”, and now it’s crickets 

… mission accomplished, now good luck getting this crap to move 2 PIPS in 

your profit direction if you’re long. And as quick as they took it up, it was 

quicker on the way down … see my shocked face.

Ok, well today was a waste, but tomorrow should see some good buy signals on 

long liquidation at some point … it won’t be deep before the buyers come back 

in, but the sell stops below the market will provide the impetus down to get long 

… we’ll see what happens.

Only one trade today … PAMM up slightly, about $30.

The one trade came early, and while the signal was a little lower, I took 

advantage of buy stops on the liquidation … and it’s a good thing I did, cuz I 

was about 1 second away from a “gobsmack” lower … looking at this trade, 

I’m thinking unless we see the market lower later, no way am I buying on 

signals with liquidity this low and “scumbaggery” at DEFCON1 from the 

scumbag LP banks with shit fills. It was a good decision. EURUSD algorithm 

performed brilliantly today, even though I chose to ignore many signals due to 

lack of volatility for about 90% of the day … it prevents us from getting into 

chop, and also prevents the signals from collapsing onto themselves where even 

the tiniest movement is exaggerated … don’t need or want that, so it’s simply a 

pass. Kind of figured today could be slow, with stop hunts dominating, where 

they just come out of nowhere like lightning, and then pass for hours with nada 

… so, not that disappointed in today, simply a day to get to tomorrow’s ECB 

meeting which is always an event with Super Mario … as usual with him, he’s 

more than likely to do something to upset the market … we’ll see. And with 

that, I’m outta here mi amigos … until tomorrow … Onward & Upward!! 

PAMM Spreadsheet will be back soon.

Have a great day everybody!!

-vegas

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