“Obviously, you’re watching gold trade, aren’t you!?”
Short blog post today … I’m still fighting that bout of “man flu” I had, and it’s
still affecting me … in any event, gold overnight showed the deadest trading
conditions I think I’ve ever seen in trading … followed by a very slow roll up in
New York, with the occasional blitz’s to the downside that trap retail specs
… first down 7 days in a row, now up 6 days in a row, until these last minutes
that see the 1220 level get threatened … none of this makes any sense, and if
the Norks had any brains, they’d simply show torture victims a chart of gold
and have them watch the M1’s … within a week, they’d be begging for mercy.
The problem in gold right now, is simply “TNT & Crickets” … active one
second, dead the next … throw in dealer stop hunt bullshit [see today’s high]
and the usual daily “scumbaggery”, and these last several weeks have seen
some very treacherous trading conditions to say the least … add to that, the
complete disappearance of Asia & Europe, and what you’re left with are very
tight ranges going into New York trading … and that almost guarantees
complete “scumbaggery” from the metals dealers in New York … “Flying
Wedge of Death” [FWD], mystery ticks, stop hunts, and the “slippage meter”
set on “double MAX” … good luck.
In other words, there is no “flow” to the trade right now … it’s either straight
up or straight down, turn on a dime, and totally screw either longs or shorts or
both … and then comes the “dead periods”, where gold can’t move 40 cents in
an hour to save its life … for example, this morning, after being open for 13+
hours, it can’t even manage a $5 range … then in 100 seconds it moves $3
… then its straight up to the high of the day, before getting clobbered $8
straight down … “by the time the retracement comes, you don’t want it anymore,
cuz you realize it’s not coming back, and the only thing you’re doing is taking on
risk for no reason”.
No PAMM trades today, but I did close out a C2 options trade.
The market simply leaves us with very few decent choices for positions … at
least 75% of the day, our proprietary “volatility heat map” is showing intraday
gold VIX levels to low for a algo signal trade … then gold explodes, and within
minutes goes back to being dead, only at another price level … from there,
there is no price follow through up or down, and we’re right back to where we
were before the move … frustrating sure, but we just wait it out is all.
Tomorrow should be OK, but Thursday’s Holiday & Friday will most likely be
dead, and not worth trading … let’s hope gold picks up in terms of range &
intraday volatility, cuz without it, all we’re left with is dealer bullshit and
manipulation of price. I’m outta here … back to bed … until tomorrow mi
amigos … Onward & Upward!!
Have a great day everybody!!
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OPERATIONAL, AS WELL AS OUR C2 OPTIONS ADVISORY
SERVICE. DETAILS IN “DOWNLOAD LINKS” SECTION IN
RIGHT HAND COLUMN. START YOUR JOURNEY FROM
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