“What markets look like right before news hits … aaaand we’ve drowned!”
All markets, not just gold, have been slowly brought to the point of “news
exhaustion” … it’s taken some time, but the central bank manipulators over
the last 7 years have accomplished their ultimate goal, which is to strip away
financial “fun-der-mentals” and replace it with “approved news” [a/k/a Pols
& Apparatchiks letting markets know where they want them to go, after of
course the mistress funds have positioned themselves correctly] for policy
purposes … and with more money than brains thanks to the “CNTRL-P”
button, any and all who have challenged them are bankrupt … “there’s the
official narrative, and that’s it … challenge or fade it, and you’re asking to lose
money … up and until they change their minds so they can position the
mistress funds again the next time around, nobody really has a clue what’s
going on or ever will … news is what they say it is, pure & simple”.
And so today, we sit and wait again for approved news … news on “Brexit”,
the continuing “shitshow circus” thank you very much Pols … news on China
tariff talks, the on again, off again, let’s manipulate the stock market yet
again … news from the FED tomorrow, as if these clueless faculty Twits have
a fucking clue about anything [Hint: they don’t] … and then of course NFP
on Friday from the Department of Unicorns & Fairy Tales, and we all know
what that entails. And so we wait.
Meanwhile. in what has become the biggest trading joke of a market of all
time, gold is starting to appear on the radar screens of analysts & pundits,
with the intent of getting the public long the yellow stuff as “smart money”
sells it to them … “what amazes me, is that with everything we’ve seen and
heard over these last months, gold has reacted far less to the upside, than it
would have in the pre central bank manipulation era … they can’t let it trade
freely or the gig is up”! And yes, if it did freely trade, OMG! would we have
ranges … far in excess of what we see today. If only.
Today’s New York range seeing some extension, but not anything like Friday
… basically all we are seeing is some momentum buying for positions
… positions, I might add, that got stops underneath them and for sure are
being targeted as I speak, in hushed tones at manipulation HQ.
Given the new paradigm in trading I wrote about a few blogs ago, I’ve spent
some time adjusting the gold trading algorithm … it’s now split into two
parts; 1) XAUUSD 20 Day Range MA > $17, and 2) XAUUSD 20 Day Range
MA < $17. And currently we’re well below $17, so we’re currently in
category #2. The changes are small but important, and take into account the
different nature of golds trading action around historically normal ranges [#1],
and when gold has tight ranges [#2]. I’ve been working on this since the
Holidays, and I’ve implemented it this week. Look for a lot more trading in
the PAMM as we move forward.
One algorithm trade today, PAMM up 0.1%.
Trading action off the low today very fast, and took us back to near the old
high, where we were positioned long, and then liquidated on new highs for the
day via the spike. Let’s hope we get a lot more of these in the days to come, as
trading action is getting better than it has been in the first three weeks of
January. However, that bar is so low I’m hoping we don’t go back, but instead
see expanded ranges going forward … if government would ever GTFO of the
way and let gold freely trade, we’d have ideal trading conditions and more
than likely ranges would easily be over $17 per day on an average basis … I
can dream can’t I?
Tomorrow sees the FED at 2 PM EST., and I’m not looking for much in the
way of range until then … it all depends on faculty lounge language, and the
“foot in the mouth” presser afterwards … at some point here, gold is gonna
correct hard, and that day has the potential to be tomorrow after 2 PM
EST. … we’ll see what happens.
… Onward & Upward!!
Have a great day everybody!
-vegas
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