“Turkish bonds @ 20+% … oh wait … oh shit, it’s in Lira!”
I was assured by the smartest people in the room, that the problems in Turkey
were over … apparently, they ain’t, and nasty speculators are driving the
Turkish Lira lower today and halting all the love Qatar & Germany have
thrown at the problem in recent days [read promises of money] … and lo &
behold, EURUSD longs suddenly get a light case of the “Yips”
[“Sell, Mortimer, sell”!] … “well, we knew it would be something they floated
out on the wires, why not Turkey”?
Today’s action in EURUSD, very much on the poor side of pathetic … nothing
here but the scumbag LP banks front running corporate orders, from those too
fucking stupid to not get shit like this done in prior weeks … “nothing like
waiting until the last minute, right Jimbo? … and the thieves line up in unison
to rob & pillage the corporate treasury department”. Sure, throw in some light
sell stops from the “Johnny come lately” retail spec crowd long over 1.16900,
with stops below yesterday’s low of 63, just to add some flavor to the day, but
they were light and of no consequence. And now we sit, around 70 as I write,
with more respectable activity at the local morgue.
Again today, except for brief moments, intraday volatility a complete joke
… this simply isn’t worth trading, cuz of the scumbag banks who are gonna
find a way to make shorts puke higher and longs puke lower the rest of the day
inside a very smallish range that doesn’t mean Mr. Jack Squat. This is bullshit.
Of course, what kind of normal “rape & pillage” day would it be in FX without
taking out the buy stops for those reading dollar bullish GDP “fun-der-mentals”,
and mumbling to themselves, “WTF is this”? No worries, the HAL9000 slippage
software at most scumbag LP banks, will do a complete and full rectal exam on
itself, and report back to you that fill was so awesomely fair & honest, that you
should be thanking them for getting your liquidation buy fill at the “tippy top”.
Honestly, where’s the love? “Can we help it the market immediately moves lower
after your fill? … duh, market conditions, duh”! And so it goes ad infinitum
nauseum all day every day in thin conditions, where if you don’t know what’s
for lunch, just assume it’s you. Oh sure, the talking heads will explain it was the
sigma miss in pending home sales & some “Brexit” bullshit … Ok, believe that
if you want, but the fact is, again we see trader death in the infamous “Flying
Wedge of Death” [FWD] appearing and wiping out both longs and shorts inside
a very tight range … “gosh, in thin … let’s get the fuck outta town for the Holiday
this weekend … conditions, isn’t it amazing this is exactly what benefits the
scumbag banks the most … see my shocked face”!
And in the most amazing of coincidences, here comes the E.U.’s Barnier,
trotting out some mega bullshit about “Brexit” … fact is, the level of EURGBP
is to the Twits at the ECB, what stock prices are to President Trump … they
don’t like it at all that EURGBP hit 0.91 yesterday, cuz it damages their exports
… so, EASY PEEZEE, trot out another useless Apparatchik and talk “Brexit”,
in such a way that GBP goes hyperbolic and takes the cross south quickly … so
much for charts and making new yearly highs; if you loved 0.91, you’re gonna
really love sub 0.90. “Remember fun-der-mentals? … yea, me neither”!
And on the third to the last day of August in thin conditions, that make ice
skating on the Great Lakes in May seem “safe & plausible”, after hitting a new
high for the day, EURUSD has nowhere to go … longs trapped, and I’m quite
sure the friendly scumbag banks will help them out shortly. FWD here we
come!
No trades today in the PAMM.
It’s almost Noon in NY, Europe is “buh bye” for the day, the range is tight, the
FWD is here, and all that’s left is fighting the usual suspects in NY, which are
Squid, JPM, & Citibank … good luck with that, cuz you ain’t gonna beat them
on an electronic trading platform, especially with the slippage meter set at
“MAX”. Quite frankly, this entire trading day sucks on a number of different
levels, but the hard facts are there isn’t enough movement for the risk taken in
anything … it’s all bullshit stops and carryover from the crosses, especially
EURGBP. Yes, there were some algorithm signals, but all came when volatility
was almost non-existent, and the trades not worth the risk. The algorithm
wants to make money, not rack up trades!
So, an early day to call it quits … we’ll see what tomorrow brings, but if it’s like
today, I doubt I will trade … Friday? … maybe until Europe closes, but again
I’ll size it up then. I’m outta here amigos … until tomorrow
… Onward & Upward!! PAMM Spreadsheet will be back up soon.
Have a great day everybody!!
-vegas
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