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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!!





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