“Oh look! … I’m trying to TRADE manipulated financial markets!”
Well, some things never change … “Chuckleheads” buying gold overnight, like
they almost always do, then expecting New York to pick up on this theme and
move it forward still … and although NY has done this 3 out of the last 4 days,
expecting this abnormal behavior to continue is downright moronic … fact is,
over 90%+ of the time, New York fades Asia and early Europe … and all we’ve
really seen so far is dumb luck … remember, EVERYTHING, no matter how stupid
or moronic, has to eventually work and yield profit.
Add to this, we start the New York day in gold with a $10+ range … and as I’ve
taught for decades, this has a very high probability of not seeing the range
expanded much, if at all … and thus, it yields a pretty crappy day most times.
Combine it with 1) this is the 7th day in a row gold is higher, 2) the Chipmunks buy
it heavily again overnight, and 3) $10+ range coming in, and it doesn’t look good
on the probability wave function scoreboard … so far at least, a very low New York
session gold range.
Of course, time will tell if this mini explosion in gold has legs, but 2 things are for
sure; 1) yesterday’s action shows you how tenaciously scumbag bullion dealers
are in defending the 1340 -1350 price zone, and 2) sooner or later, as the fiscal
position of the world deteriorates by the day, and people discover gold again,
gold will rally … as I’ve said many times, gold only matters when it does, and the
clock is ticking to financial Armageddon with the U.S. & China leading the way into
the abyss. If not price gains now, then we are just that much sooner to the party
starting in earnest.
So while gold sits and diddles around today [so far], as I said yesterday, I’ve had
it up to my eyeballs with the overt manipulation of the U.S. stock indices … market
does not trade, and with the BS shenanigans of the LP’s where they manipulate
the bid/offer spreads daily, and the slippage and latency issues are horrendous, I
am simply flushing these markets down the toilet … if you trade them, you will
regret it.
Late morning and gold drifting … doesn’t seem to be any interest in anything
today, cuz nothing is moving now that we’re in the New York session
… manipulators gotta be manipulating. However, as time goes by, gold is crawling
higher towards its “Maginot Line” of 1340 - 1345 … several times we’ve seen a
move up here from early this morning, and every time it gets rejected … like I said,
the force is strong among banks to defend this level. Watch total hell break loose
if we break it on the upside and take out 1246 - 1250 with any conviction … see
how fast the world wakes up to clueless government central banks and their
idiotic policies.
And speaking of idiotic policies, Fed Pie Hole Williams is speaking and telling the
world the dangers of low inflation … EXIT QUESTION FOR THE FED TWIT: “Since
when is it “dangerous” for no inflation? Inflation robs people of wealth and
debases the currency … I’m not saying deflation, just no inflation and rising
prices … what’s wrong with STABLE”? … clueless, absolutely clueless.
After 1 PM EST, and the scumbag bullion dealers are breathing a sigh of relief, after
another assault on 1340 is thwarted and beaten back with more selling … it will be
interesting to see if the “Chuckleheads” in Asia push their luck tonight, and
whether or not somebody decides to take profits before the weekend that can
bring anything … the market is certainly ripe for it, but that doesn’t mean we’ll see
it … as always in gold, if you buy rallies you’re asking for trouble.
Looks like tomorrow could be interesting, cuz we got NFP at 8:30 AM EST, and
given what happened with data on Wednesday with ADP private employment, will
the Dept. of Unicorns & Fairy Tales give us the same numbers? We’ll see … until
tomorrow mi amigos … Onward & Upward!!
Have a great day everybody!
-vegas
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