HOW TRADING HAS CHANGED

 

“Nothing will ever explain trading to Newbies better than this!”

Everyone can readily see the obvious technological changes that have 

occurred over the decades in trading markets, but the more subtle big 

difference has been the role of government, and the “takedown” of trading 

cowboys & gunslingers … and replaced every markets objective with “policy 

goals” of various central banks through the TBTF & TBTJ scumbag LP 

banks … this has reduced volatility dramatically over the years, in markets 

that had fluctuated wildly. “And that all works fine, except when it doesn’t 

… and as we’re seeing now at the beginning, they’re gonna have a real problem 

cleaning up the absolute fucking mess made by passive investment schemes in 

the stock market, skyrocketing precious metals prices, and a US dollar that loses 

its “mojo” in pricing oil … cuz what can’t be sustained, won’t be indefinitely”!

Even when markets are “normal” now, they still have the ability to hurt 

traders, but counting on wild swings to save your donkey isn’t the strategy it 

once was … more often than not, you get one chance to catch a move and then 

that’s it … “thanks for playing, come again”! Or, like today, with very tiny 

ranges inside the “Flying Wedge of Death” [FWD], they allow traders to “get 

away with” abhorrent trading practices of doubling up [or worse] or staying 

with losing positions, cuz as we all know, “it’ll come back”! … and then 

BOOM! … you get a day like last Thursday, notwithstanding the fact bucket 

shops like Turnkey might have actually saved you money by being down 

[“their Gerbils were sick … they’re better now”!], and bad habits come back 

and decimate an account.

Turning to today’s gold market … “am I dreaming, or is this one of the most 

pathetic non Holiday trading days ever? … good grief, more than half way 

through the day, and New York has seen a $5 range tip-to-tip, but 90% of the first 

4 hours has been in a $3 piece of shit burrito … TNT & Crickets … 3 weeks to 

the midterms, and I’m afraid this kind of action will infect every market, at some 

point, going forward to November 6th … well, won’t election night be fun in 

Asia”?

Ever since early last week, when gold was slumming near the 1180 level, every 

day since then, now after a $50 per OZ. rally, gold hasn’t attempted to go 

lower once and threaten overnight lows set early … yea, there have been the 

obligatory $2 - $3 breaks, but before we can go higher, IMHO, gold needs to 

see an early attempt to go lower fail … that attempt will accomplish three [3] 

things; 1) hit sell stops of position traders, 2) get some short, and 3) give the 

market a more even “tone” going forward … without it, gold has a historical 

tendency to overshoot and set itself up for major disappointment on the 

downside. “I’d love to see gold go lower quickly later this afternoon, or 

overnight, and see lows being hit in early Europe, followed by a test at the start 

of U.S. trading [7AM EST] … from there, some stock market indigestion could 

propel price higher the rest of the day”.

It’s 1 PM in New York, and quite frankly, I can’t take the torture anymore 

today … this is horseshit … an inside small range bag of trouble. Good grief, 

what a joke.

Only one algorithm PAMM & C2 advisory signal trade today … PAMM up a 

few bucks.

When the market doesn’t want to go, it doesn’t go … simple as that … the  

“Great Bullion Wall of Selling” up at 1232 - 1233 still intact … market won’t 

rally, and then it won’t break … welcome to the “shitshow circus” of “chop”. 

Hopefully tomorrow, things improve.

There really isn’t much to say on days like this … get ‘em out of the way, and 

move on to the next day … I’m outta here a little early today, this inaction 

driving me nuts … until tomorrow mi amigos … Onward & Upward!!

PAMM Spreadsheet directly below.

 

click to enlarge

Have a great day everybody!!

  

-vegas

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