“Hopefully not … bread & circuses for the masses!”
In a further sign of just how far down the rabbit hole American society has
descended, today sees the House clown show, chaired by a fat socialist pig from
New York, attempt to rewrite history to a version more of their liking … rule of
law? … what’s that? … meanwhile, over in Germany, their economy continues to
go “Thelma & Louise”, and European interest rates continue their slide towards
zero … “how effed up is Europe? The Greek 10 YR. bond is yielding below 2%
… who loans money to deadbeats at 2%”?
And checking the tape, last night sees Asia & Europe take gold $10+ higher
… do I have to again explain what this means? … at best, it might mean a slight
extension higher of the range … most times, though, it means New York lower
… and if it wasn’t for some hellish spikes up, sucking in the last spec nickels on
some economic reports that were released, this shit wouldn’t even have a pulse
for the day … welcome to the manipulated, hellish conditions in New York.
Ok, I can hear some Newbies crying out, “well then, trade Asia”! … great idea, if
you knew there was going to be some kind of trading activity … problem is, most
nights don’t see Asia do Mr. Jack Squat … and unless you want to be on meth
24/5, good luck with that trading 10 hours later with no sleep … granted, lately a
majority of nights sees Asia trade well … what happens when it doesn’t?
Since June 1, trading gold in Asia is like gold is a different commodity than in
New York … different trading action, much smoother runs with less spikes from
hell … you know, all the things New York isn’t … which is why I say, “ban New
York banks and bullion dealers from trading their own accounts, either proprietary
on their books, or the IBC’s in tax havens they control where bagged trades go
for splitting up the loot … do that, and you’d have a market … but it isn’t going to
happen cuz POLS, Apparatchiks, regulators, exchange execs, & brokerage house
big shots get their cash from the IBC’s … so who’s gonna stop it, when they all
feed off of it?
Today sees [so far] a couple of buy algorithm signals, which I ignored … why?
… it’s not that I’m smarter than the algorithm, it’s that I have better “situational
awareness” than the algorithm … 1 winner 1 loser, and maybe I’d be up $5
depending on fills, but the point is, 1) it won’t break to new lows for buying, and
2) with Asia’s 90+% loser rate, where’s gold gonna go on the upside, and more
importantly, do I want to buck those probabilities? Short answers: nowhere, and
no.
Directly below, a daily candlestick of XAUUSD … we’ve gone nowhere for a
month … more importantly, all but one of the up days saw Asia put the big gains
in … what does that leave for New York, and most importantly, if you’re a trader
what kind of risk are you pursuing to get whatever gains you’re hoping to
achieve?
click on chart to enlarge
I got news for anyone reading this; “you can take every gold chart pre February
2016 and throw it away … that market doesn’t exist anymore … the gold market
that exists today has only 2 functions; 1) enrich the scumbag bullion dealer
banks, and thereby pay the tolls for the elites in power, and 2) allow said
scumbag dealers to facilitate the flow of physical gold from West to East, thus
enriching China, Russia, & India … call it whatever you want, but it’s simply the
destruction of Western civilization via finance … someday the bill will come due,
and when that day comes it will mean the end of the U.S. as a major power, and
the loss of the U.S. dollar as the world’s reserve currency … it’s coming.
So here we are, another bullshit trading day, thank you very much New York
manipulators … gold getting bled lower by the banks, with intermittent spikes
from hell higher, just to kill the shorts, and there simply isn’t any buy interest
to propel anything higher … gee, what a coincidence this happens about 90+% of
the time isn’t it, when Asia goes $10+ higher? … and come 7 days from now when
the clueless Twits at the FED disappointment markets with either no cuts or
anemic rate cuts, watch the bloom come off the rose rather fast … cuz there’s
simply too many people long gold futures right now, and the scumbag banks
know it.
We’re in a bull market in gold … you’d be hard pressed to see it, if all you looked
at was New York … New York, the place where markets go to die!
And in this “POLS & Apparatchiks” trading paradigm we find ourselves in, not
only in gold but everything, all that matters is what somebody says … they’ve
literally destroyed FX … the CFD’s are a fucking joke pretty much everywhere
… and all you’re left with are dwindling ranges and then spikes from hell … so far,
gold has bucked this trend, but like I said, we haven’t moved anywhere in a
month … now, we get to “hurry up & wait” for next Wednesday, where each day
forward will more than likely be worse than the previous day … then all hell
breaks loose next Wednesday at 2PM EST, and my question is “will you benefit”?
… hell no you won’t, only the scumbag banks benefit as they will rip people off,
left and right via slippage and fills.
Yup, another shit day … squeeze longs and bleed them dry lower, then rally the
shit out of it in no time flat to screw the shorts … nothing here but the graves of
those dumb enough to buy rallies and/or sell breaks … the banks thank you,
please come again! I’m outta here … maybe someday we can get a market that
actually trades, cuz quite frankly we haven’t seen one for weeks … until tomorrow
mi amigos … Onward & Upward!!
Have a great day everybody!
-vegas
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