“True on so many levels … economic, social & political!”
Big NFP report … yawn … markets now confused as you’ll ever see them … no
direction up/down, which simply means stop hunts become the game play of the
day … both sides, cuz everything is fair game. And not just in gold either, but
everything on the entire board.
Quite frankly folks, markets have become “policy weapons” … spin it anyway
you want, but about the only market nobody is paying attention to right now is
gold … and that’s a good thing. Every FX currency that is traded wants to go
lower, cuz the conventional wisdom is it helps exports to other countries
… problem is, it can’t happen that way … here in the U.S., equity markets are
so manipulated [until they aren’t], the FED needs to see higher stock prices to
bail out baby boomer pension funds … that’s a multiple trillions dollar mess
under the surface, cuz they’re all underfunded badly. The only thing that can
bail them out is higher stock prices, with no sell offs … “yea, sure thing … let
me know how that works out in the next crash”.
Directly below, the weekly XAUUSD chart, with commentary.
click to enlarge
I’m not sure, until the November midterms are over, that anything in any of
the financial markets are going to get resolved … such huge consequences of
the outcome, determining how markets will behave going forward … “cuz
make no mistake, if Libtards take control of either the House or Senate, 1) the
stock market crashes, 2) gridlock takes over D.C., and 3) financial markets become
a total mess” … and even if I’m wrong, does anybody want to take big positions
ahead of it, and run the risk of what happened in November 2016, when
Cankles lost and the entire establishment was banking on her win, and
markets went absolutely batshit crazy? … I’m guessing no. That doesn’t mean
no activity, just that I’d be surprised with any sustained moves of substance.
So here we are, mid morning with a smallish $8 & change range in gold going
into a weekend … and as usual with gold, the M.O. [modus operandi] is to
bleed it one way, bomb it the next, rinse & repeat inside chop … I frickin’ hate
As I stated yesterday, U.S. rules for all brokerage houses domiciled in the U.S.,
is that XAUUSD [spot gold] cannot be offered to customers … CFTC & NFA
rules prohibit brokerage houses from offering this, and instead require people
to trade futures contracts from the CME in gold … “yes, this is government
bullshit at its very best, and you can thank Obama for it … to meet the demand for
smaller trading sizes in gold, the CME has introduced “e micro gold futures”,
where 1 lot volume = 10 OZ. of gold, with 10 cent minimum tick size … this is to
supposedly get you to want to trade these, instead of going offshore, where you
can do what you want … yes, government knows best, don’t they”? So, since C2 is
in the U.S., they don’t allow trading in XAUUSD, and gold signals have to be
delivered via futures. Not a problem, just a small hassle.
I will state again, those signed up at C2 for our signals service, need to email me
to get ANOTHER FREE 30 DAY TRIAL PERIOD via a coupon code you can
use … now that we’ve PERMANENTLY switched to gold trading, I think it’s
only fair everyone get another month free and basically start over. There are
three  ways to participate; 1) via the PAMM, where minimum account
investment is only US $400, with any amount deposited after that, 2) trading
your own account via Turnkey, where you’ll enjoy the best trading conditions
anywhere, and using the signals for buy/sell, and 3) “auto trade” via C2,where
signals [remember, these are futures] are automatically executed into an
account you set up with C2 sponsors … at present, Interactive Brokers [IB] is
a good candidate over the others, but investigate on your own.
Anyone can use option #2 to trade futures in gold anywhere, “e micro”
[10 OZ. = 1 lot] or standard Comex gold futures [100 OZ. = 1 lot] … Turnkey
doesn’t trade futures, so any futures house you want to use is fine with me.
However, if you want the very best from “DIY” [do it yourself], use option #1
especially with smaller accounts. Remember, though, the signals are futures,
not spot, so what matters in the signal for those trading XAUUSD, is not the
price, but the signal “BTO” [Buy To Open], “STC” [Sell To Close] OR “STO”
[Sell To Open] & “BTC” [Buy To Close] if/when we go sell side. In any event,
we’ve got all the bases covered here, it simply depends on your choice. I would
just add, though, that IMHO, unless you want to come into the PAMM, you use
“auto trade” and simply follow everything via phone or PC … you’ll get
quicker fills and it’s very easy to follow along … just my opinion.
“Well, you can see why I don’t like NFP Friday’s very much, and never have”
… especially in gold, unless the currency FX pairs take off in one direction or
the other, it usually ends up a complete “shitshow circus” of chop, guaranteed
to bleed accounts almost everywhere, as dealers “gaslight” the shit out of price
in seconds with no follow through … stops everywhere in play, but no direction.
Trading this, is like flipping coins for a living … good luck.
A little before NOON EST., and I’m pulling the plug on this circus. No trades
today at C2 or the PAMM. Friday afternoon chop, isn’t anything I want to get
involved in or participate in and get caught doing “stupid shit”. Market will be
here come Monday.
We did get a few signals today, however our “volatility heat map” said stay
away, as intraday VIX to low to be reliable in any statistical sense … and, that
was the correct call, cuz we got nothin’ going on, and price has simply chopped
since the NFP report inside a $5 range … the “Flying Wedge of Death” [FWD]
very much in play today in gold, with repeated trips up/down in chop.
Special blog update on Sunday night, where I’ll have some important stats for
gold, that will help give you valuable perspective to this market. Until Sunday
night mi amigos … Onward & Upward!! PAMM Spreadsheet will be back up
this weekend on the Sunday Update blog post.
Have a great weekend everybody!!
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”!