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Sunday, March 31, 2019

SUNDAY UPDATE: GOLD REALITY, $$$ DELUSION

“Sure, everything’s fine … drink up, says the FED!”   

We end another quarter, month, & week, and yet again for like the 
umpteenth million time, last week sees the “Comex Con Game” at work 
… and why shouldn’t it? … who’s gonna stop ‘em? … eventually of course, 
the gig is up, but that’s little consolation to a market that is as heavily 
manipulated as gold by the bullion dealer banks and their BFF’s the FED.  
“When you’re among the dominant players, and you got all the free money in 
the world to play with, at practically zero interest, and there are no ramifications 
for your continued selling, and you can get the government through the idiots at 
the FED, to “fat finger” gold lower by their massive selling at just the right 
times, then it’s an easy proposition to agree to, cuz it’s basically free money 
… and that’s why they do it”.

This week’s charts show the dichotomy gold is going through … expanding 
Asia & European session ranges, and even with the debacle on Thursday, a 
shrinking New York session range. It grows wider by the week. Directly 
below the week’s 20 Day Range MA charts.

click on any chart to enlarge



Gold seems to be in “no mans land” at the moment from a technical 
perspective … I’d be surprised this week, if there was no attempt to go after 
the 1280 - 1276 level, no matter the perceived “fun-dur-mentals” … everybody 
and their brother knows there are some large stops below that level, especially 
among the longer term position holding crowd … the scumbag bullion dealer 
banks would love to click these off, and what matters is central bank demand 
around the 1280 level, and whether or not the usual suspects believe they can 
shatter price before the buyers show up … it’s a cat & mouse game, and at a 
minimum I think there’s a good chance to see one attempt at that level 
… we’ll see.

In Cable, SHTF this week, as time is rapidly running out on “important votes” 
[IV] in parliament … it’s fish or cut bait time for the Pols, and you just know 
they’ll wait until the very last second before they’ll do anything … my guess 
is, they can’t figure out how all the graft, bribery, extortion, & influence 
peddling is gonna break, and we’re looking at a “hard Brexit” … that’s a 
minority view among the smartest people in the room at the moment, but 
given the psychological nature of Pols, and natural self serving opinion of 
themselves, it’s the most logical conclusion unless somebody gives up 
somethin’ … “and I wouldn’t bet on that”! In any event, it should make for a 
crazy ass week in Cable, depending on how the news breaks.

Onto the crazy week … until tomorrow mi amigos … Onward & Upward!!

Have a great rest of your weekend everybody!

-vegas







 

Friday, March 29, 2019

JUST ANOTHER SCAM OPTIONS DEBACLE

“The day after in gold!”   

Options expiration today in gold at the Comex, and what the financial MSM 
is gonna try and shove down people’s throats, is the bullshit notion that it was 
the “short gamma” crowd that caused the selloff in gold yesterday … “right, 
sure, and so are we to expect this every options expiration in gold? If not, why 
not, and that’s where the BS logic of this argument falls flat on its face … but, 
knowing most will only look “skin deep” into the mess, and it’s such arcane 
option world stuff to begin with, the manipulators know the public will buy the 
excuses cuz they don’t understand it to begin with, and don’t really want to think 
about it … in other words, the manipulators count on the fact people are stupid, 
and without their wisdom to explain things, are lost sheep in a pasture … can 
you say Baaaaaaaa yet”?

The day after, and if you think it was bad in gold, Palladium got whacked 
about $111, for an approximate 8% loss … never mind the fact the world’s 
financial condition deteriorates daily into an abyss it can’t ever truly recover 
from … only government believes piling into more debt solves a debt crisis, 
and surely this time it will work … won’t it? Even the “Chuckleheads” in Asia 
last night were in no mood to buy, apparently feeling the board slapped up 
against their faces, and needing some checks to clear before returning to their 
cultural ways, and besides it’s the weekend coming up and the cash they got 
left is gonna be needed at the local casino.

Gold starts today very quiet … a funeral atmosphere if you will … Asia took 
price a tad lower, so that only means New York will try and attempt some kind 
of rally to burn them … and while some may tiptoe into the market for some 
 “bargain hunting”, most should realize that sometimes “bargains” aren’t really 
“bargains” after all, and that after yesterday the sale has a high probability of 
running for a while making said yellow pet rock an even better “bargain” later 
… we’ll see, but as I said yesterday, a move under 1280 is gonna damage 
trader brains and sour investment demand for an entire new generation of  
“gold bugs” for a very long time. And while the pain of yesterday can’t be 
minimized, the pain coming under 1280 - 1276 will be far worse if it gets there 
… all for the benefit of the TBTF & TBTJ banks, which I know makes 
everybody feel warm & fuzzy all over.

Gold seeing some light buying interest early in New York so far … I’m not 
quite sure I know what they’re thinking by bidding it higher for an $11 range, 
but good luck later in the day as we move towards the weekend … markets 
generally waiting around for the umpteenth important “Brexit” vote @ 10:30 
AM EST, and when it’s over to see if the world has ended or not … what a 
frickin’ mess, thank you central banks.

OK, “Brexit” horseshit over with, and gold backing off its high in an 
aggressive manner, back down to around the 50% level of the day’s range 
… why chumps bid it up close to 1300 is a mystery to me, but I’m thinking 
maybe some “MoMo” players got themselves a little to short headed into the 
weekend and the scumbag bullion dealers made them pay.

I was actually hoping we could see some kind of move in early New York 
down below 1290 to buy on a reversal … it never happened … instead, we see 
gold go straight out of the box and go up $8 … and there’s no way after 
yesterday’s debacle I’m buying gold early on a rally, even if it backs off a 
little … when that buy fuel evaporates, the usual suspects swoop in and start 
selling in earnest … and the way it looks now, here in late morning about half 
hour from NOON, the sellers have taken back control of gold, and the rally is 
kaput. And no, I don’t want to be bumping heads with JPM & Squid on a 
Friday afternoon when longs from this morning are stuck.

I followed Cable closely today, but trading off of every rumor emanating 
from headlines out of Britain is downright stupid, not to mention dangerous 
… the spikes from hell evident all over the place today, as the scumbag LP’s 
first create the rumor, then fill you when you’re convinced “here we go”! 
… though, we ain’t going and now they got you right where they want you 
… add to this total clusterfark, days like today give the LP’s the opportunity 
to widen the bid/offer spread, which they did at every opportunity on every 
rumor and spike … throw in a good dose of “slippage candy” which is set on 
quadruple MAX, and if you play in this shit when it’s all over the place you’re 
not gonna like your fill, especially getting out. Cable today, is a party best left 
alone until next week.

Onto next week … blog update Sunday night … with all the news out, 
markets appear exhausted, and so I’m outta here early today … nothing is 
gonna move anywhere the rest of the day of any significance, so what’s the 
point? … until Sunday mi amigos … Onward & Upward!!

Have a great day everybody!

-vegas






 

Thursday, March 28, 2019

RINSE, REPEAT, & PICK A LARGE ITERATION #

“Then grow up & run the Rally Protection Team selling gold!”   

Second day in a row yesterday, we saw the “fat finger” of the FED intervene 
and smash gold lower in milliseconds … not reported, or even talked about in 
the financial MSM yesterday, just another “ho hum” $1 billion dollars, or 
about 8.000 futures contracts sold at the market to push gold to the low of the 
day, and more importantly punish the living shit out of longs who see their 
sell stops filled at the low by the scumbag bullion dealer banks, who just 
happen coincidentally to buy all those contracts and gold rallies … natch 
… WTF did you think was gonna happen after the slaughter?

In hindsight, a perfect blend of distraction and “scumbaggery” on full display 
… cuz while the world was fixated on “Brexit”, and the “shitshow circus”  
going on in Britain, with play by play, second by second news coverage of 
every rumor of every vote, nobody is paying attention to some  
“slight of hand” that goes on in the gold market … and to that end, it 
worked perfectly.

And since the “good ol boy network” works as well now in the trading 
industry, as it ever has, nobody is gonna question anything, see anything, 
hear anything, report anything, except what the masters of finance at the 
FED want them to report … and anybody that steps outside of this 
paradigm, will find to their great dismay, their career is instantly over and 
they can’t get a job at fucking WalMart as a Greeter to save their lives 
“think I’m kiddin’? … go ask Kathleen Hayes, if you can find her, former 
info babe on CNBC, who asked “The Bernank” some inconvenient questions, 
and the next day she’s gone”.

So, in 2 days, the FED has “fat fingered” gold to the tune of approximately 
16,000 futures contracts, worth about $2 billion dollars, both times creating 
new lows for the day … all during the “shitshow circus” going on in merry 
ol Britain … and so, who benefits from this manipulation? … “why of course, 
our scumbag bullion dealer banks, who conveniently sold the shit out of gold 
between 1315 - 1324, and who now reap the booty from not only the idiots at the 
FED, but also from the obligatory sell stops triggered on the decline … feeling 
manipulated yet”?

Welcome to the “Comex Con Game”, not anything unusual cuz we’re talking 
about “scumbaggery”, the gold futures market, and those scumbags in the 
banking industry … and as we’ve seen just recently with the Smollett 
embarrassment, Murder, Illinois [a/k/a Chicago] continues to amaze and 
educate the world in the “Chicago Way”, the entire world’s most corrupt city 
from top to bottom, in every capacity known to man. There isn’t a single thing 
that happens there that isn’t corrupt at the core … “I would classify it as the 
world’s largest cesspool of crony capitalism, politics, law enforcement, judiciary, 
& business shakedown practices, the world has ever seen … period.”

So here we are on day 3, and gold sits currently at 1307, and then BOOM! 
… in less time than it takes to scratch an itch somewhere, gold is at 1305 
… and now we are officially in the “danger zone” of a “surf’s up wipe out 
zone” … where if you get long slightly above 1300 looking for support with a 
sell stop for “protection”, what you end up with potentially is a stop fill well 
below 1300 and some burn marks on your donkey. “Quite frankly, I don’t 
think either the FED or the banks are gonna be happy until they wipe out the 
1300 level on the downside … right now, there is ZERO interest in buying gold, 
and the only tiny rallies I see are purely short covering from dealers … me 
thinks the fix is in folks”. 

“Well, that escalated quickly to the downside, didn’t it”? … 13 days of up 
action wiped out in about 24 - 36 hours … and now the danger is the 
1280 - 1276 level, which if breached, is gonna unleash selling hell all over the 
place … and in addition, leave gold more vulnerable to bank manipulation 
than ever before, as a shipload of Newbies to trading & investing, are gonna 
swear off gold forever … that in and of itself almost makes it prophetic, but 
we’ll see … right now, gold looks like it’s in ICU, and the funeral director has 
been spotted on the premises.

Meanwhile, over in the newly formed police state of Britain, they can’t even 
agree to disagree about our favorite soap opera, “Brexit” … they can’t pass 
anything, which makes a “hard” exit even more possible from the E.U., come 
April 12, which is the “new”, NEW deadline [cough, bullshit, cough]. The 
real problem of course, and which is a B. I. Itch to solve, and which will never 
be reported to the public cuz it’s too frightening to contemplate, is that the 
major sticking point is that they can’t agree on the “who/what/when/ where” 
ALL the graft, bribery, corruption, & influence peddling is gonna land. In 
other words, in the thought process of a Pol, who gets what, and am I getting 
the shaft? And until that gets straightened out [never], don’t expect anything 
other than a “hard Brexit”. 

Last night, just after the open of the new trading day [5 PM EST], Cable gets 
“monkey hammered” lower by 100 PIPS, which kind of ruins the trading day 
when pre-Asia steals all the action … stops get wiped out, people back away, 
and the day’s trade becomes difficult at best. It’s bad enough when you gotta 
deal with shit from Europe AND the U.S., and deal with the scumbag LP 
banks during normal biz days … pre-Asia? … stop messing with me Skippy, 
or somebody gets hurt!

Today is one ugly “Hoover Dam” day for gold … there was a slight move up 
very early just above 1300, but it lacked conviction … in other words, no pop 
to price, and I warned yesterday about getting long gold near century marks 
or round hundred dollar levels … banks play games here to get the public to 
think it’s bottomed, and intentionally set off many popular MT4 buy signals 
… then they quickly lower the BOOM!, when the buy fuel fades … today a 
perfect example of that … and after we busted 1298 on the downside, I had 
no interest whatsoever in getting long gold today … with the quantity of 
traders positioned long already, it had the potential to be a mini bloodbath, 
and as it turned out, that’s exactly what happened as sell stops got hit off in 
spades today … round up the usual suspects buying those stops at lower levels 
like I’ve explained before.

Quite frankly from a technical perspective, gold is in some trouble price 
wise … only a move above 1310 is gonna get the buy “MoMo” back, and that 
is gonna be difficult without a lot of work here at lower levels … next up is 
the 1280 - 1276 level, and if that goes down in flames, gold is gonna end up 
like silver and you can put all the people who trade it in a phone booth 
outside Domino’s Pizza somewhere … we’ll see what happens, but the reality 
is the manipulators are in full control, and if this market loses more players & 
investors, it makes it that much easier to keep the price down via sell side 
manipulation.

You take a look at the action today in gold, and it’s a one way ticket to 
oblivion if you were long … cuz when it turned you were toast, even if you 
bought it perfectly … blink your eyes twice and that mini rally off the low got 
faded like a cheap suit, leaving you if long with a painful decision that is 
gonna cost you money. Other than the fact the whole world was/is long gold, 
if you want to be constructive, this was a clean out day leaving people with 
heavy losses and a bit perplexed. I said yesterday and the day before, that the 
action was “not right” given the FED action, and add to that 2 “fat fingers” 
from the manipulators makes it even more in the cards, that something to the 
downside was gonna happen … question now is, is there another shoe to drop 
to below 1280 in the days ahead? … and if that happens, heaven help this 
market going forward, cuz the customers & investors won’t be coming back 
anytime soon, and you’re looking at many weeks if not months of gold 
piddling around, chopping building a base to maybe launch again in the 
future, and how long that takes is anybody’s guess, but my best guess is that it 
will be longer than most admit … I hope I’m wrong, but I’ve seen this before 
from gold in my long career in trading, and it’s best not to ignore reality and 
simply listen to what this market is saying. And right now, it ain’t good.

I spent today trading GBPUSD in my own account, getting back familiar 
with Cable from a couple of years ago before “Brexit” turned it into the  
“price gap” show every day … our specific proprietary algorithm in GBPUSD 
has worked well, in fact really well … all we need is a modicum of volatility in 
the Cable market, which is not in short supply currently, and the signals are 
very reliable over the course of the day. Cable isn’t nearly as manipulated as 
gold, although it’s got its moments in the sun … Cable is NOT correlated well 
with gold, which is to its advantage, like USDJPY & USDCNH are … and 
more importantly, slightly longer trends are in play in Cable, where they 
aren’t in gold. Of course I’ll still trade gold, when it 1) is safe from massive 
sell stops, and 2) when there’s reason to believe it’s in rally mode … on days 
like today, forget it … I got no wish to be sacrificed on the gold altar, risking 
mucho dollars for penny gains … what the hell sense does that make? So, 
starting tonight I’ll be watching both markets for opportunities going 
forward.

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

Have a great day everybody!

-vegas