“Amazing! … I’m in the gold stand waiting on New York!”
The gold market is throwing us all for a “loop” … Asia, for all intents and
purposes, has fallen off a cliff … there’s no “there” there, and ranges are
currently in the $1 - $2 range after 11 - 12 hours of the market being open for
the day … what the hell is this? … Europe comes in and dribbles some light
volumes through, pushing gold up/down slightly, but nothing really here either
… and then yesterday comes, and somebody gets their “big girl panties”
bunched up, and within a few hours we got a $25 buck range from nothing.
And what this means., of course, is now we got New York dictating price
action, which is analogous to having the fox watch the hen house … yesterday
saw some absolutely brutal selloffs in that gold rally by dealers, and it makes
for some not so great trading conditions. “Cuz I’m gonna tell you all right now
… gold is NOT trading … it’s “lurching”, with zip in between moonshots &
“Thelma & Louise” … throw in the “slippage candy” from these scumbags, and
it makes trying to trade this as difficult as I’ve seen in many years … sure, you
can position it, but that entails much more risk in the equation, and if you get
caught on the wrong side of a bullion dealer blitz, you have my condolences
… there simply is no way to know when it stops or how bad it can get … ask
shorts from yesterday how bad it can get trying to pick a top”.
Today, not unexpectedly, sees gold in a $6 range inside the infamous “Flying
Wedge of Death” [FWD], with fits and starts going to nowhere … and unless
the range can be expanded, buying dips in price isn’t worth it, cuz historically
this will get you mauled as a bigger range is put in … “in order for me to pick
breaks in price to get long, one of two things has to happen: 1) if higher on the
day, is it a break in price over $3, along with a bottoming indication on the turn,
or 2) if lower for the day, are we in fact extending the range for the day past the
$9 - $10 mark? … inside a bullshit range like today, so far, you don’t have an
answer to either scenario, and it’s been like this for far too long … well, nothing
you can do but wait it out”.
was a “Ka-Ching” day for trading WTI Crude Oil binaries, and the
“call spreads” in the Russell 2000 stock index [RUT2000] for signals service
subscribers … while other markets present opportunity, gold notwithstanding
yesterday’s action, trades like oat spreads … and all with far less risk than
presently enjoyed here at Turnkey, where we have to put up with scumbag LP’s
and all the shit they bring to the table every day … which is “scumbaggery” on
a scale to heights most people wouldn’t believe if shown. “Everybody reading
this blog today … right now after your done here … needs to go over to the crude
blog and read what’s going on over there, and what I’m doing in the signals
service … when the light eventually turns to “on” in your head, you’ll flip and
wonder why it took you so long to finally “get it” … we don’t worry about price or
where it goes, we let the scumbag LP’s work for us, not against us like here, and
bank on them being the scumbags they are too take price up/down with abandon
… cuz when they do, in either direction, we “ring the register” and say “thanks
scumbags, for doing what you do best” … read about it, and learn … this is a
much better way to trade, I guarantee it”!!
It’s Noon in New York, we got a $6 daily range, and for the last 5 hours gold
has been in a $4 - $5 range from the tips, right along with spikes from hell that
start and go nowhere, with not a “Hoover Dam” thing going on except chop.
It’s the Friday before Christmas Eve on Monday … “please tell me how many
traders are interested in gold as we head for a 4 day weekend, with the trade
coming back next Wednesday? … right, about 3 people and 10 banks … good
luck with that”.
No trades today in the PAMM, but some attractive options positions opened in
the C2 options signals service in GLD.
Sunday night sees a blog update post, so I’ll be back then … until Sunday mi
amigos … Onward & Upward!!
Have a great weekend 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”!
No comments:
Post a Comment