“Figure it out … the FED does NOT exist for your benefit!”
Go back just a scant 8 months to the beginning of October 2018 … at that time,
the FED was cheerfully proposing 4 additional rate hikes via their idiotic “dot
plot”, and I know I at least said, “no way”. Fast forward to today, and markets
are pricing in 3 RATE CUTS by the end of 2019 … do the math Skippy, and that’s
a total change of 7 rate cuts within 8 months … so, what have they actually
done? … they raised rates in December 2018 is what they did … and gold since
October 2018 is up about $140 … go back two weeks and that figure would be
about $90 - $100 … and that’s with market expectations changing by 7 rate cuts!
… “somebody tell me again gold is not manipulated lower”!
There’s a FED meeting next week, and after that it’s July, September, & December.
So, if they sit around the faculty lounge and pontificate and do nothing, which is
likely cuz there isn’t “enough data” to show enough weakness to justify a rate
cut, that means every other meeting this year has to see a 25 basis point
reduction … unless of course they opt for the “nuclear” rate cut of 50 basis
points, which would only set off a depression panic from markets … in other
words, it wouldn't help stocks, but send gold sharply higher. I think right now,
you got a better chance of winning the Lotto than seeing a 50 basis point
reduction in rates.
Bottom line, is that they will disappoint the markets next week … “they’ve never
been right about anything in 116 years, since their inception in 1913, so why start
now”? … always fighting the last war, these assclowns only care about protecting
the 0.001% elite, and propping stock prices, while making sure gold never rallies
much to matter … the last thing they want to see are headlines talking about gold
hitting multi year highs, and bringing this info to the attention of a completely
dumbed down and ignorant population of Sheeple drones … who just might get
the idea into their heads that stocks are too high and gold needs to be bought
… “you want fear into the hearts of the “deep state”? … well, this is it”! … and as
we all know, we can’t have that, cuz it might bunch up some “big girl panties”
among the elites.
At some point, of course, it won’t matter cuz gold is going higher … the only
thing that matters is that the scumbag banks are positioned correctly when it
happens … that leads us to this point in time, where you have to ask yourself if
there’s enough “juice” to take the banks out and propel it above 1350 and then
1375, and the answer to that question is still up in the air, cuz you can easily
support the argument on either side … sure, at some point it goes Palladium
and doubles in weeks … is this the time?
As I said yesterday, until next Wednesday comes we won’t know, although any
move higher ‘till then is apt to be sold, but if it keeps going that would be a sure
tip off that the scumbag banks have been given the go ahead by insiders at the
FED, that the fix is in and the die cast for a much higher price … it’s gonna
happen eventually, and if you think they are just gonna sit by and be casual
observers without profiting from it, you’re delusional.
Today sees gold come into New York with a modest $6 and change range
… everybody and their brother seems long to me, and if the FED does what they
always do, the slaughter to the downside will be quick and vicious come
Wednesday at 2 PM EST … maybe they do cut rates … with 3 rate cuts priced in,
does that mean gold goes higher through heavy resistance, or does it mean “buy
the rumor sell the fact”? I would remind people that gold got beat up unmercifully
in 2015, as the FED kept hinting at rate hikes after almost 8 years of zero interest
rates … in December 2015, the FED pulled the trigger and raised rates by 25 basis
points … that saw the low in gold around 1060, and it’s been higher ever since
… simply another “buy the rumor sell the fact” situation where expectations had
been fully met before they even did anything … and that brings me to right now
… with 3 rate cuts already priced in, about the only things the FED could do to
get gold screaming is either go the 50 basis point route for shock value, OR hint
at negative interest rates and endless QE money printing … do you see that
happening now?
Today’s action so far seems throttled … meaning it’s being held back by heavy
commercial selling on any bump up … even getting oil tankers attacked with
torpedoes overnight has had almost no impact, although WTI crude has spiked
along with stock indices … you know, buy MOAR! stocks cuz it’s bullish when
war starts … WTF! … makes you wonder what the hell is going on in this crazy
world. We got a full day ahead, but I’d be surprised to see any kind of explosion
in price … but who knows, we’ll see.
Noon in New York, and not surprisingly to me, nobody wants to play today in
gold … range today in New York after about 5 hours is approximately $4 … can
you say “Flying Wedge of Death” [FWD]? … and unless some news breaks
somewhere about something the market cares about, today’s action is the future
for tomorrow, Monday, & Tuesday … “hey, I don’t make the rules, it is what it is,
and all eyes are fixated on the faculty lounge come Wednesday at 2 PM EST”
… given the overwhelming bullish sentiment and long positioning by specs, I’d
be shocked if we don’t see some tradeable downdrafts between now and
Wednesday afternoon … rest assured, the scumbag bullion dealer banks will
spook some folks via sell stops … and no, a $1.50 isn’t a correction.
This is simply a bag of bat guano … nothing to see here … at least not today
anyway … not even worth watching. And with no range or volatility, we’ve gotten
ZERO buy algorithm signals … nothing to do but wait … not as if anything else
besides oil [tanker attack anyone?] & the Hang Seng index have moved today, in
tandem with the late night / early morning SP500 rally on possible war news.
Some days, you just can’t make this shit up, cuz nobody would believe you. And
as I write, gold crawls up to a new high to set off some buy stops, but no
significant follow through, cuz it heads lower immediately. It’s just more of
“Tickle Me Elmo” time pre FED.
I mentioned the Hang Seng stock index yesterday … and briefly last year around
July I followed it for a very short time … in retrospect, I should have stayed with
it, cuz given the trading conditions we can get in it, it’s a stone cold winner of a
trading vehicle … everything you’d want in a market if you drew it up on the
blackboard, along with a one hour for lunch closing at Midnight EST to 1 AM
EST. … I mean, what’s not to like with that? The team [Cousin It & Chief of Staff
Milton Waddums] and I have completely revamped the trading algorithm for the
Hang Seng, throwing out data pre February 2016, and adding proprietary
indicators nobody else has … that keeps us out of the banks computer systems,
which is a definite plus for profits, cuz they monitor and track every
“Hoover Dam” algorithmic system they can get their hands on so as to play for
stops … in other words, they strive to know what you’re doing so they can fade
you to levels where they know you’ll puke, and then they take the other side.
Right now, nobody can get their hands on it … I’ll have details in the days &
weeks to come on how my readers can get the algo, so stay tuned.
Ok, pulling the plug on this disaster of a day a little early … there’s nothing here
folks, and risking $200 to make $20 makes little sense, especially given the wall
of selling above us … if we get a halfway decent break we’ll get a buy signal
… but in this shit chop we find ourselves waiting for the FED? … nah, it doesn’t
make sense from any angle you care to spell out … let’s face it, today’s
worthless. Gee, can’t wait to see what tomorrow, on a Friday, looks like? … more
than likely UGH!, but we’ll see. I’m outta here … until tomorrow mi amigos
… Onward & Upward!!
Have a great day everybody!
-vegas
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