“Understanding gold is easy!”
A very good synopsis of where gold “is at” right now, I found on ZH this
morning … I couldn’t have written a better review myself given the time and
research. The link directly below.
gold-next-week
Perhaps the single biggest area I agree with the author is the upcoming results
from the 2018 midterm elections … gold is about to take a “coiled shot”
somewhere, and the gold market in general, gold options specifically, have not
nearly priced in the volatility to come. Directly below, the 10YR. Chart of the
GLD volatility index from the CBOE.
click to enlarge
As you can see, we had a “blow off” in gold VIX, as gold went
“Thelma & Louise” during August 2018, that saw the gold price go from about
1215 down to 1160 in 4 days … that exploded GLD volatility up to the 40 level,
where the last time gold saw such volatility was in 2012 as the FED & BIS
started the “Rally Protection Team” [RPT] sell side manipulation, with days
that saw gold go down in excess of $100 per OZ. Back then, gold was in the
1600 - 1700 range.
Well, here we are now, and as you can see, even with the biggest daily range in
over 2 ½ years on October 11th, gold VIX [volatility] is hugging 10 year lows
just above 10 - 12. “With what’s coming, I find this level incredible but not
surprising … gold has been “out of favor” for years as an investment class,
especially among American investors … while the Chicoms, Ruskies, & other
central banks load up on gold by the physical tonne, America seems content to
facilitate the largest transfer of wealth ever seen in the history of the world, from
West to East. Eventually, Sheeple in ‘Murica wake the fuck up and pile in,
especially when they get frustrated that shares of companies that they own, with
no earnings, billions in debt, and nothing but a Cinderella story, get blown out of
the water [hello Tesla, NetFlix, etc.]. IMHO, we seem to be very close to this
inflection point”.
Turning points, though, need a “catalyst” … and we for sure got one coming up
in 8 days, on November 6th … and while I’d like to believe the people of
America are smarter than the Elites, and under no circumstances would ever
vote for a Democrat cuz they’re pretty much all Socialists, Marxist
Communists, and Libtard Loons, and any vote for one of these is a vote to end
America as you’ve known it … sad to say, but true … you wanna see gold go
through the roof? … vote “D” and hope they win … and despite their
“squishy” DNA, although my new hero is Cocaine Mitch, never underestimate
Repubs for, “if they don’t fuck things up, they shit on them”, given the chance
… Repubs keep the Senate & House, stocks recover, the USD continues to
climb, and gold is on a course to retest the years low … “in other words, SHTF
is coming, and our C2 options signal advisory is ready to exploit the storm”!
Turning to today’s gold market … almost an $8 range out of the
“Chuckleheads” in Asia and early Europe … trading action so far looks to be
decent, we’ll see what New York holds in that regard … stocks recovering
some, and the $64,000 question is, “how high can the dead cat bounce”? We’re
about to find out … for it’s part, gold still hasn’t seen dealers attempt to take
gold lower and hit the serious sized sell stops below 1225. However, the daily
candlestick chart, directly below with commentary, has me a bit wary of
sustainable price gains short term.
click to enlarge
“What does it mean when 10/11 of the day’s highs can’t be sustained”?
Gold today has got a problem … what does the market do without the SP500
moving 50 - 100 handles during the NYSE session? … “cuz it sure as hell looks
to me like “dead cat bounce” time, consolidate at lower levels, and chop around a
while” … a little song, a little dance, a little seltzer down your pants, and as we
all know, “if you don’t like where gold’s at, just wait 10 minutes for the mood to
change”. Add to this, the “Chuckleheads”, right along with Mrs. Wantanabe
& Gal Pals, ever so slightly tried to take gold lower overnight in the Asian
session into early Europe … “well, do you really need anything else to tell you
higher prices may be in order today, and that the highs can be sustained for once
in the last 2 weeks”? We’ll see shortly!
It’s almost Noon in New York … “somebody wake me up from this effing
nightmare … market has been trading now for about 5 hours, and we don’t even
have a $3 range … from a trading perspective, WTF am I supposed to do with
this? … there is no volume, no liquidity, no price movement … only bullshit
mini spikes from dealers that go nowhere … we had bigger ranges when gold was
at $300 / OZ.! … at least for today, the world doesn’t give a shit”.
complete “shitshow circus” on display in this market today … spikes followed
by nothing … what’s next, 3 digit pricing in gold so we can trade tenths of a
cent? WTF".
One algorithm buy signal today … PAMM up a few bucks.
“Whaddaya do, when you’re in a trade for over 6 minutes, and you can’t even
get out of the fucking spread of 10 cents, off a buy signal”? … EASY PEEZEE:
“GTFO ASAP with any profit you can get”! … So, when I saw price “pop” 15
cents [ohhhh, I got tingles], I didn’t waste any time liquidating the position
… trading action is simply pathetic … sorry pathetic, I don’t mean to insult you”.
Algorithm buy signals are supposed to move “effing NOW”!, not minutes or
hours later … if it ain’t moving, I don’t want to be in it.
Also today, I put on the first “leg” of a volatility option position, via our
signals service in GLD [SPDR ETF in gold] options @ C2; those that signed up
already for signals, you got all the details … for others, simply sign up, or wait
‘till the position is closed. With the midterms coming a week from tomorrow,
gold isn’t gonna be sitting around doing nothing, and with the GOLD VIX
hanging around 10 year lows, when gold moves volatility will increase, and
both calls & puts will increase, as well as OTM [out of the money] strikes in
the direction of the move … that will see covered selling of premium … let the
games begin!!
Again today, another sub par New York session 8 hour range, relative to the 20
DAY Range MA … I’m sick of this shit. Is the circus hiring? It is what it is, and
it wouldn’t surprise me to see subdued action until election night … I hope not,
and maybe it’s just another in a string of shit Monday’s … in any event,
nothing to do but wait it out, and take algorithm signals when I get them
… anything else is simply “stupid shit”.
Onto tomorrow and better trading action … hopefully … until tomorrow mi
amigos … Onward & Upward!!
PAMM Spreadsheet directly below … there will be a new format, starting
tomorrow, in the PAMM Spreadsheet. In addition to that, once the C2
advisory signals in GLD options has a “closed” position, I’ll post the options
trades as well, and comment on them in the blog.
click to enlarge
Have a great day everybody!!
-vegas
OUR TURNKEY FOREX “PAMM/MAM” IS OPEN AND
OPERATIONAL, AS WELL AS OUR C2 OPTIONS ADVISORY
SERVICE. DETAILS IN “DOWNLOAD LINKS” SECTION IN
RIGHT HAND COLUMN. START YOUR JOURNEY FROM
WHERE YOU ARE AT TO “ESCAPE TO SUCCESS”!
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