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Monday, December 3, 2018


“A G20 group photo for the album!”

The self anointed meet yet again over the weekend … and again, the public is 
fed a heaping pile of bullshit as to what it accomplished, other than wasting jet 
fuel and good champagne on a group of thugs, dictators, SJW’s, and bullshit 
artists, who for the most part couldn’t operate a hot dog stand at a baseball 
game and turn a profit. Villainy, treachery, and general “scumbaggery” on 
parade, that would bring jealous tears to the eyes of a bullion dealer.

And since the world didn’t end as a result of any of the Mafia Dons getting 
stupid, it’s complete victory in financial markets … gold up about $10 after an 
otherwise lackluster start to the Asian trade, as the “Chuckleheads” and Mrs. 
Wantanabe & Gal Pals finally panic bought the stuff with both hands … “well, 
you know what that likely means for New York, so don’t get your hopes up this 
trading session has anything in it other than bullshit dealer chop … could be 
wrong, we’ll see, but for the most part history in this “shitshow circus” says 
otherwise when the range is above average coming into New York”. And just 
when ya think Mrs. Wantanabe & Gal Pals might have bitten the dust, here 
they come after the fresh checks have cleared, buying the G20 news like 
chumps, so the bullion dealers can make them pay later in the day … “Oy, 
some things never change”.

Sadly, though, the Clinton’s & Bush families couldn’t make it to the  
“thugs & hypocrites” convention … the former hustling $11 tickets for the 
2016 crying tour, and the latter planting senior somewhere … “Oh well, 
there’ll be other opportunities for graft, corruption, & bribery”! Meanwhile, here 
at the hacienda, the Mrs. says to me, “hey, did Hooker & blow prices go up in 
Buenos Aires, as a result of this idiotic confab”? … and she’s lookin’ at me for 
an answer? … and I’m supposed to know? … WTF? … and I look at the dog 
for an answer and he says, “Did somebody mention bacon”? And that’s what 
passed as “critical analysis” at my house … and I thought figuring out gold 
was tough!

New York opens and it’s dead … so far, no volume, no liquidity, and things 
look dull as dishwater … good grief … the usual gaggle of spikes up/down 
going nowhere inside a tight band … already I’m weeping. And here at 15:30 
server time, gold gets its first “mystery tick” of the day, as buy stops are set off 
and then drops like a rock in water … so far, same old shit, different day, but
things are looking up.

And then comes the “Thelma & Louise” $3 drop on Powell not speaking before 
Congress on Wednesday … it got cancelled … “oh wait, the news headline 
forgot to mention Wednesday is a day of mourning for Bush 41 and markets are 
closed along with Congress … whoops … nevermind … so now the longs get 
wiped out on bullshit … just another day in bullion hell”.

Given the news over the weekend, I would hope gold could see something more 
normal in terms of a New York range … with 2 hours to go, we got about $6, 
which is frickin’ pathetic … granted, stuff could still happen, but it isn’t 
looking good … the “Great Bullion Wall of Selling” is looking formidable above 
1235, as bullion dealers doing everything in their power to quelch any and all 
rallies … they just continue to sell 100 lot after 100 lot with borrowed FED 
money until the buying dries up, longs get nervous and push price lower on 
selling, where they then stand there and buy it back from you … rinse, repeat, 
and you got the central trading idea from the dealer’s perspective.

This 1230 - 1240 area is extremely dangerous from a trading perspective 
… longs cuz when the buying dries up it falls quickly back … shorts cuz any 
move slightly higher will unleash an avalanche of buying off the daily, weekly, 
and especially monthly charts, and who knows where that ends up on the 
upside … I sense a very high nervousness in the trade from both sides. The net 
effect, is we sit up here hour after hour between 1232 - 1234 where the bullion 
dealers simply wait out the longs, knowing sooner or later they get 
uncomfortable not seeing price move higher and then puke.

One algorithm buy signal trade today … PAMM up a few bucks. No trades in 
the C2 options advisory signals service.

When it won’t go, it won’t go, so bail and come back later … and so far today, 
most of the algorithm signals to buy have been negated due to a lack of 
volatility … yea sure, we’re about $10 - $11 higher on the day, but most of that 
came late in Asia and late in Europe as well … so far, New York has about a 
$6 range, which is well below the 20 Day Range MA, and trading action hasn’t 
been anything to write home to Mommy about, with the usual spikes up/down 
from hell sprinkled in to spice things up for those who overstay their positions 
“gold almost never disappoints in that respect”! The action today has been 
slightly better, but still, overall it’s disappointing given the weekend news and 
moves in other markets.

The good news? … “well, after watching the usual suspects shove gold sharply 
higher overnight, New York hasn’t really been able to break price … about the 
same level ± $2 from where they left off, and that has to be viewed as a positive 
… not much to hang your hat on, but usually New York would 
“monkey hammer” price and we’d be lower for sure”. Going forward into this 
week, the key for price isn’t can it go higher, the key is when it breaks what 
happens next? … does it bounce back or does it sit and go sideways? … and 
from those breaks, can any momentum be generated to challenge the 
1235 - 1240 area and take out the massive stops above those levels?

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

Have a great rest of your weekend everybody!!




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