“Sounds like somebody who used to trade gold!”
Since 2012, everything that has happened in gold has been coordinated by the
central bank manipulators, led by the FED, and implemented by the “Rally
Protection Team” [RPT] … they have a lot of arrows in their quiver to affect the
market, and over the last weekend, you saw one of their favorites … which of
course, is either POLS or Apparatchiks saying something that profoundly affects
price … in this instance, though, the real warning shot came earlier in the week,
when FED Pie Hole Bullard, with gold hanging within a few bucks of a 6 year high,
came out and said there was definitely NOT going to be a 50 basis point interest
rate cut at the July FED meeting … shot fired across the bow … the signal given,
in no uncertain terms to the banks that their BFF pals at the FED have their backs
and they can sell gold to their heart's content … that was $50 bucks ago.
Accident? … only if you believe in honest & fair markets … and if that’s the case,
I got some beachfront property in Kansas you’re gonna love! … the words
“honest” & “fair” shouldn’t ever be used in the same sentence as gold trading,
nor when mentioning the scumbag LP banks … we aren’t trading against other
market participants, we’re trading against the “Hoover Dam” bank.
Well, wasn’t this an interesting day … the first half of New York, dull as dishwater,
with barely a $3 range after 4 hours … then comes the news about VP Pence
getting his plane diverted back to D.C., and all hell starts to break loose, as shorts
hit the panic button … it only gets more interesting as time goes by, cuz then we
hear that Putin is meeting with his defense minister, and the EU security council
has called an emergency meeting … and sure, I’m supposed to believe all this is
a coincidence? … umm, no.
In an earlier blog, I mentioned I was taking every algo buy signal … what I should
have said, but didn’t, but what was in my head, is that I’m taking all signals
consistent with some volatility in the session I’m trading in … the first half of the
new York day, there were many signals … most worked, a couple didn’t, but my
point is that gold VIX at the time literally sucked, so I’m not interested in the
signal … later, as the Pence rumor mill picked up steam, gold VIX improved
remarkably, and now I’m interested.
One algo buy signal today … PAMM up a few bucks.
In the New York P.M., after 1 PM EST, there have been a few buy signals
… however, all of you know my feelings about gold in the New York P.M. after
Europe has closed … the algorithm doesn’t know this, but I do … and I know
from experience, that mixing it up with Squid & crew is NOT something I really
want to do, cuz you’re trading with thieves … meaning, spreads & slippage are
going to be issues you ain’t gonna like when they whack you.
I wasn’t real happy with my buy fill today … not saying it was horrible, but it
wasn’t good either … that put my mindset a little different cuz it skews profit
negatively … after that, we’re getting into Squid time, and I’m not interested in
that. So yea, a weird day to say the least, and as I write this, we still don’t know
what the “emergency” in D.C. is all about.
In the bigger picture, all gold did today, with some help from news, is fill the gap
created Sunday night on the daily candlestick … we’ll see if that can get
extended, but if it does, and we go higher on the week, it means we’ll be up 7
weeks in a row, and that mi amigos spells major league trouble for price … you
go “FOMO” [Fear of Missing Out], and you will regret it … that’s just the way gold
is, and how it behaves.
Onto tomorrow … until then mi amigos … Onward & Upward!!
Have a great day everybody!
-vegas
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