“Oh nothing much … just the FED manipulating markets again yesterday!”
Just another day of FED manipulation yesterday, as another FED PIE HOLE “gave
us the rally”, and then approximately 5 hours later the New York FED took it away
… violent swings both ways in price only makes the scumbag bullion dealer banks
money, so in that most important of regards it was a great success … for anybody
foolish enough to wander in and trade? … well, that’s another story.
What makes this particularly interesting is the FED’s timing in dispelling earlier
remarks given in the P.M. of New York trading … it didn’t come until about 7 P.M.
EST, one of the most illiquid of times in the market, and generated a hefty sell off
in gold … anybody but me think some scumbag banks called the FED for help,
and then got it? The stench here, yet again, is remarkable … of course, nobody is
gonna question the mighty FED in the financial MSM, cuz if they did, they'd be out
of a job by NOON! “I hate this kind of shit folks … it burns me up … this isn’t
trading, this is SCHEMED MANIPULATION” for the benefit of a few connected
banks and/or very large hedge funds, and it’s total horseshit! … having said that,
who’s gonna stop it that’s in power in government? … right, nobody, cuz they’re
all getting part of the loot that’s scammed from market participants”.
And so, just like the other few times in these last weeks, where “funny business”
happens during the “dark hours” of trading, so once again it strikes with fury
… anybody but me see a pattern here?
Make no mistake, today’s action is a direct result of the manipulation yesterday
afternoon and last night, and it has displayed some of the most wicked action on
the M1’s I have ever seen … you know the market is in trouble when the M1’s are
averaging over $1 in range for hours at a time, and the scumbag banks are the
beneficiaries … a time to lock the doors and pull in the hurricane shutters, cuz
there’s nothing here that’s to your advantage as a trader but pain, a/k/a as a
losing position plus slippage from those “liquidity providers” [cough, bullshit,
cough].
I would also add that we are up 9 weeks in a row on the weekly candlestick
… you’ll be hard pressed to go back in history and find similar moves up … what
lies ahead is nothing but pain, as sure as I’m sitting here a whole bunch of
positioned longs are gonna get wiped out … whatever the catalyst, it’s gonna be
a “shitshow circus” on the downside in the next 2 weeks at some point, and will
lead to some great long positions … as it stands right now, though, you want to
ignore history and press your luck being long on rallies, then be my guest.
Here around NOON EST, gold breaks hard to a new low, and what you can take
away from this, is another “GIFT” to the scumbag banks from the FED, giving
them cover and allowing the daily candlestick chart to look like dog shit, and
invite more selling next week … learn how to avoid mistakes in the rigged game,
and they won’t catch you … don’t learn, and you’ve just fed them this years
Christmas party … it is what it is, and I can’t change it … all I can do as a
longtime buyer of gold on breaks, is avoid the traps, manipulations, and stop
hunts on the downside and then take advantage of them, and right now being
long gold isn’t looking very good in the short term … nest week looks especially
treacherous, as many will look to take some profits off the table a little early from
the FED July 31 interest rate meeting … the only thing wrong with that premise,
is that you’ll be joined by millions of others and the scumbag banks know it
… look for next week to be wild, especially on the downside.
Quite frankly, I don’t know how much more technical damage they can do to gold
today, or whether or not they cover shorts and we rally some … in any event, New
York afternoons on a Friday after Europe closes with scumbags like JPM & Squid,
you aren’t in any position to gain from their actions.
We had one algorithm buy signal today, which I passed on, for two reasons; 1) it
was above 1440, and after last night’s horseshit manipulation by the FED, I gave
it ZERO chance of hitting a new high for the day, or even extending the rally off of
the small break, and 2) it came early and there was ample opportunity for the rest
of the day if gold had decided to rally … well, my suspicions were correct, and if I
had taken the trade, the turn was wicked to the downside and it’s a tossup if I
would have made a small amount or lost a small amount … in other words, it was
inconsequential regardless.
Violence in gold is picking up, and is starting to “red line” into dangerous
territory … one of the things we need to start seeing, are breaks in New York that
aren’t coming off of highs, meaning moving lower from some point off relatively
small ranges, and then rallying … over these last weeks, this has been absent,
and the only breaks we see are after blow ups to the upside … with gold up 9
weeks in a row, we’re gonna start seeing some liquidations by retail specs very
soon, and if it waits to the FED meeting in 12 days, more than likely it’s gonna be
“butt ugly” on the way down … either the FED disappoints with no cuts, or it’s a
“buy the rumor, sell the fact” kind of scenario; neither is gonna be attractive if
you’re long.
Blog post update on Sunday … until then mi amigos … Onward & Upward!!
Have a great weekend everybody!
-vegas
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