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Friday, November 30, 2018


“Or, you could just watch gold trade on the M1!”

Another wretched Friday of nothingness upon us … tomorrow’s  
“bigly & yuge” meeting at the G20 of Trump & Xi, where markets are in 
prayer mode for a trade deal … any deal … so that global stocks can rally and 
the Ponzi scheme known as “buy stocks cuz they always go higher” can continue 
unabated. Gold for its part, totally “dead in the water”, as bullion dealers  play 
“rope-a-dope” with any and all participants. And of course, after this 
weekend’s “big news” fizzles out, we always got OPEC next week to wait for, 
and fret about, as the “talking heads” move us on to the next important news 
event that will move markets. “Cuz as we all should know by now, no market 
[except crude oil] moves without central planner permission and central bank 
manipulation … on their own, no market moves an inch, cuz players are frozen, 
afraid of what happens if they get on the wrong side of central planner HQ 
… and if there ever was a day for nothing more than bullshit chop, this one is it 
… my advice for insomniacs is to simply watch the gold M1 today, and you’ll be 
asleep in no time … guaranteed”!

Round up the usual gaggle of suspects today in bullion dealer community, and 
that popping sound you hear are the champagne corks going off, at the 
prospect of a quiet day filled with mystery ticks, stop hunts, and general 
"scumbaggery” that will fill their coffers to the brim … “oh, Christmas has 
indeed come early for the crooks at the dealer trading desks … the only question 
is, how much can they steal in one day”?

Overnight, Asia had a $2 and change range, which is all you really need to 
know to stay in bed and sleep in, but the real story here is the complete 
disappearance of the “Chuckleheads”, along with Mrs. Wantanabe & Gal 
Pals, from the trading scene. Have they 1) gone tapioca, 2) read my advice 
from previous blog posts, 3) found a new casino game to play and waste money, 
or 4) finally figured out they’re the chumps at the gold poker table? A combo 
of #3 & #4 the most likely answer, but who really knows for sure?

So, while other markets VIX cools off, gold has gone freezer mode … and 
while all market go through this type of environment at some point, the 
question still remains, “is gold a dead or dying market”?“cuz I got to tell 
you, the vital signs, unless they start improving here real soon, don’t paint a 
pretty picture going forward … just as they had killed silver as a trading market, 
where it’s laughable compared to its former self, gold is in the Elites cross hairs 
and marked for death as well … it remains to be seen if they can pull it off, but 
the bullion dealers are in the back pocket of the central bank cartel, and given 
their role over the market to mug, rape, plunder, & steal as much as they can get 
away with from customer accounts, don’t look for them to stop the death march”.

In the end, if successful, they’ll point to the fact that customers abandoned the 
market and it isn’t their fault … just like in silver. It’s all bullshit of course, 
cuz we all know who is to blame and what the truth is, but the fact remains the 
silver market is dead & it’s “mission accomplished”, so say whatever you want 
… they got their way, and I’m tellin’ you gold trading is next.

Here at the start of the New York trading day, it’s paint on a concrete wall 
waiting to dry … this is worse than pathetic, this is criminal conspiracy … “oh 
wait, how silly of me … this is government [think FED] & central planning 
bullshit for policy purposes, so it’s OK … just another nail in the coffin for free 

By contrast compare gold to crude oil … here’s a market governments can’t 
control, cuz it’s 1) worldwide, 2) too many big & powerful players of all 
shapes, sizes, and temperament, and 3) it trades deliverable oil … meaning of 
course, not cash settled, which if you get stupid means you got egg all over 
your face if you tried to manipulate it. And since it’s beyond the scope of the 
central planners, it’s where the “hot money” crowd is perched, and why it 
trades millions of futures contracts per day compared to gold’s paltry one to 
two hundred thousand contracts per day and getting smaller by the day. A 
vibrant market compared to one that’s dying … the numbers don’t lie, no 
matter how much you’d like to spin them.

And right on cue, as if from central casting, at 16:33 server time, here comes 
the sell stop from hell, that gets filled $3 lower and is immediately, within 
milliseconds, $2 higher after bending somebody over the barnyard fence and 
planting a gigantic flagpole … I mean, seriously, how much more proof do 
you need to understand the why/how of their manipulative price efforts to set 
off orders, where only they know where there at? … simply put, the  
“Comex Con Game” continues for yet another day.

Looks to me as though weekend position squaring & weakness in crude oil are 
the major drivers today in gold … still only a pathetic $8 range, and the 
bullion dealers are in complete control of the market today, essentially 
squeezing all the long positions from Wednesday’s Spicoli surprise of a dovish 
rate outlook, looking for price to vault over 1230 … those sell stops are being 
actively hunted as I write. Still too early to tell, with a range that still screams 
trouble for either longs or shorts. Being long invites the spikes lower like what 
happened at 16:33, where whatever stop you got in there gets raped … being 
short sees risk on a slow creep higher if crude recovers and gold shorts get 
nervous … all inside a tight range where a few cents per Oz. can make the 
difference in orders panicking or waiting it out … this is one of the very big 
problems you face when trading tight range markets, where the “Flying Wedge 
of Death” [FWD] shows up and kills you on both sides multiple times. “As I 
stated yesterday, this isn’t an issue when gold sees more “normal” ranges of over 
$10, cuz it’s very hard to get the market to swing larger dollar amounts to the 
other side without major news … on weak tight ranges, though, it’s a cake walk 
for dealers to shove it a buck or two and make people sweat bullets, and then stop 
them out on some kind of panic”. 

Just before NOON New York time, and sure enough, inside this tight range day 
we’re getting all the things I wrote about above … meanwhile, there ain’t shit 
happening on a larger scale to justify a position … nothing is really happening 
accept accounts getting the “Comex Con Game” from dealers, with the range 
not high enough to escape the inevitable FWD dealers pull on the trade to get 
them to sell lows and buy highs cuz they’re convinced the range has to expand 
some … but then doesn’t, and they panic the other way and get caught in the 
spikes against their position … as a professional trader for decades, I can tell 
you there is no worse feeling in the world than to be played by these scumbags 
and forced to do shit you don’t want to do … it’s maddening, and worse still 
it’s all prearranged knowing that collective human behavior will see itself 
manifest in the market, and the dealers get exactly what they want … which is 
to say, the public pukes right on schedule. “One look at today’s M1 gold chart 
will prove my point, cuz the whole point of the exercise is to get you to buy high 
and sell low, which many have done today and the market is going nowhere … it’s 
nothing but a collection of blow out the longs, then the shorts, longs again, shorts 
again … see where this is going? … and in the process you get yo-yoed into 
oblivion looking for some kind of breakout of the range to bail you out … and it 
doesn’t come … this is why folks, range is so “Hoover Dam” important to trading 
success … it isn’t simply intraday volatility, but also a function of dealer behavior 
towards spec orders and positions … for them, it’s a whole helluva lot easier to 
manipulate shit for a couple of bucks than it is $5 - $7, and why during these 
tight range conditions when nothing is happening, the most probable outcome of 
trading is losses … and that’s why the algorithm doesn’t give a buy signal”!

No trades in the PAMM or the C2 options advisory signals service today.

Just another, in a string of shit low volume nothing range days, where pretty 
much every move is dealer led stop hunts … if you traded today, having fun 
yet? … and so, while I don’t like sitting here watching paint dry, I don’t like 
losing money either, and I refuse to play the bullion dealers game inside the 
FWD, where they have a distinct advantage cuz they know where the stops are 
located, and I don’t … I might have a good educated guess, but they know for 
certain. The only thing to do that makes sense is to wait it out, and hopefully 
after this weekend and the FED meeting in mid December at the latest, ranges 
and intraday volatility improves so I can trade the PAMM effectively … so, be 
patient folks, unless gold dies, things have to improve!

I’m outta here … Sunday blog update over the weekend, so be back with you 
Sunday night … until then mi amigos … Onward & Upward!!

PAMM Spreadsheet will be back up very soon.

Have a great weekend everybody!!






Thursday, November 29, 2018


“The wisdom of Yogi!”

Well, that was exciting yesterday … for about 15 minutes … then it’s over, and 
with heads & limbs severed from the shorts in the crowd, there isn’t another 
buyer in sight … which of course, means it’s time for bullion dealers to take 
over and slowly sell it off back down. Overnight, the Asian session got the call 
from the law firm of “Zero, Zip, Zilch, & Nada, LLC”, and proceeded to do 
absolutely nothing … Europe saw some light buying, and after taking out 
yesterday’s high by a few pennies to set off buy stops from the shorting crowd, 
it’s been a straight ticket back down … deja vu baby.

And so, what we’re left with, is what we’re always left with in gold … the  
“Comex Con Game”, and the “one & done” nature of gold, which leaves 
nothing but destruction in its path … “cuz the dirty little secret is, if you get 
caught in this the wrong way, you’re fucking burnt toast with no way of making 
the money back anytime soon”. For what seems to me like the 49th million 
installment & iteration of “let’s fuck specs again” with zero follow through, you 
can’t help but think that at some point, some of these people with staggering 
losses, will simply leave and never come back … “sure, everybody has losing 
trades, but to lose the same way again and again by dealer manipulation of price, 
along with the guaranteed stop hunts, is something else again entirely … some 
days, I marvel that a market still exists, given the level of “scumbaggery” & 
bullshit Pol, Apparatchik, and general market abuses leveled daily”.

As yesterday so amply proves, again it’s the Apparatchik Spicoli [a/k/a FED 
chief honcho Powell], that provides the spark that lights the fire, that makes 
markets move for 15 minutes before it ends spectacularly in flames for gold 
… EXIT QUESTIONS [that of course will never be asked by the MSM 
financial press, but should be]: 1) did the bullion banks know ahead of time 
your remarks, and 2) were said banks positioned for the “surprise” dovish 
 statements you made? Ask those questions, and you’ll never be invited back 
to another FED presser ever again … softball questions please, nothing 
 “controversial” or intimating “scumbaggery” on the part of the holy & pure 
banks or the FED … don’t believe me? … “go find Kathleen Hayes, former 
CNBC infobabe, who gave a hard time to a FED governor once during an 
interview, and next thing you know she’s outta the biz and a greeter at WalMart 
to pay the bills … yea, it’s real”!

The New York session today, starts out with a bang … clean out sell stops, and 
whip it around for the kill minutes later with the buy stops at the old high 
… nothing major of course, we’re talking pennies here, but enough to trap 
longs and then shorts … rinse, repeat, and once you orient your thinking into 
this mode, it’s easy to see the “Comex Con Game” Eric Sprott has written 
extensively about for some time.

Today’s gold market sees the same old shit, different day syndrome … no 
volume, no liquidity, mystery ticks & spikes from hell that go nowhere, stop 
hunts on both sides, and a market stuck in a $3 range for 7+ hours running 
… other than that, everything is fine. “Just another “one & done”, thanks for 
playing & contributing, and come back again real soon, Ok”? Mid morning in 
New York, and the “Comex Con Game” is in full effect.

Want an example? … well, directly below a closer look at XAUUSD on the M1, 
with bullion dealer “scumbaggery” in full effect … first the sell stops to clean 
out longs, then the buy stops to clean out shorts and get you long again, 
followed by the appropriate “Thelma & Louise” ride to the bottom of the 
quarry … “hey, it only hurts when you hit the bottom”! Add it all up, and 
you’ve been screwed twice and the market hasn’t gone anywhere or done 

click to enlarge

And when you have tight ranges, non-existent volume and even lower liquidity, 
this is what you can expect, which is why I’m on the sidelines during this 
clusterfark cuz I don’t want to get caught in the dealer bullshit stop hunts, that 
I know from experience they’re gonna pull, when Mr.. Jack Squat is around 
and nothing is happening … bullion dealers will make shit happen, only it isn’t 
gonna be to your benefit and profit. The tighter the ranges, the more this kind 
of FUUBAR trading scenario has a high probability of being seen … bullion 
dealers got to make their money somehow, some way, and if volumes are low 
they resort to shit like this almost without fail … why would today be any 

This wouldn’t even be an issue if the market had a decent trade flow 
… unfortunately at present, this is a sick market that only sees any kind of 
range when there’s news that affects interest rates and/or USDCNH … other 
than that, it’s a bucket of shit … and today is a bucket of shit playing out right 
before your eyes if you’re watching it.

All told, it’s been a $3 - $3 ½ dollar range for the last 12+ hours, with more 
than a bushel basket filled with bullion dealer “scumbaggery” of great 
magnitude … WTF is anybody to do in this but lose money? … you risk dollars 
to make pennies, and that’s assuming 1) they behave while your in [a big if], 
2) stop hunts aren’t set off, and 3) the slippage is reasonable … any one of these 
miss, and your on the negative side of the equation with nowhere to run and 
make it back … the only thing that makes sense is to “sit on your hands” and 
refuse to be played.

 No trades today in the PAMM or C2 options signals advisory.

Maybe the FOMC minutes due out at 2 PM EST makes a difference, but that 
comes way too late in the day unless you like the “pain trade”. Just nothing to 
do today but observe a market that is going nowhere and doing nothing. Like 
I said; “no volume, less liquidity, & dealer “scumbaggery” = me on the 
sidelines … not enough volatility to get legit algorithm signals, and the market 
does nothing but drift".

And just to put a cherry on top of this total clusterfark of a day, gold has puked 
violently on sell stops, down to the 1222 level before bouncing … “how many 
times today have we seen this bullshit? …. at least 4 that I’m aware of … like I 
said, they got to make some bucks some way if volumes don’t support the cash 
register … criminal comes to mind, but that only happens in fantasy land … WTF 
is all I can say while shaking my head, glad I’m not in this bullion dealer induced 
bullshit hell”.

Onto tomorrow … while I generally think this shift in interest rate policy is 
supportive of gold, there’s massive resistance at the 1230 - 1236 level, followed 
quickly by the top of the last few months at 1243 … up and until the Trump / Xi 
“lovefest” is over and done with at the G20 this Saturday, and then the FED 
interest rate decision in mid December, it’s gonna be a tall order to see gold 
vault higher without some earth shattering news to support the move … until 
then it looks and feels like chop to me … we’ll see what happens.

PAMM Spreadsheet will be back up very soon

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

Have a great day everybody!!