“Traders uncover the 🙶Plunge Protection Team🙷 [PPT] scam!”
Well now, isn’t this special? … we open $12 higher, go up almost $30 on the day,
and then break all the way down to 🙶Unched🙷 … and gold isn’t even out of Asia
yet! … bid/offer spreads blown out, slippage on terror alert, and if you want to
specialize in capital losses, be my guest … markets are out of control.
What would the day be without some PPT shenanigans? … just more of the same
on planted headlines and the three magical words for modern day manipulation,
which is 🙶CHINA TRADE DEAL🙷, and the HFT algos along with the PPT will take it
from there … doesn’t matter if the whole thing is a PR scam, cuz anybody with a
brain that thinks the ChiComs are either 1] gonna make a deal before 2020
elections, or 2] live up to the agreements of a deal if one was had, are seriously
delusional … their goal is simply to string things out and keep talking useless
words for an idiotic MSM, all the while raking in the dough from the U.S. … tariffs
you say? … EASY PEEZEE꞉ 🙶devalue the Yuan and who cares?🙷 … and the game
goes on ad infinitum nauseum.
One look at gold near the European open, and I can’t get back to sleep fast
enough … $30 up, then $30+ down, and now onto Europe? … this is insanity, and
Europe will do NADA until New York wakes up … and sure enough, here we are at
the start of the New York session, and gold sits near where it closed Friday … now
what? … are there any orders on the books or order flow that didn’t get done last
night? … I sincerely doubt it, so where’s the trading interest for today going to
come from now that New York has the ball? … markets look like Hiroshima after
the atomic bomb blast.
Durable goods numbers out, headline numbers a little better than expected but
not having any effect on markets … bigger fish to fry and all that … after the
complete clusterfark last night, markets this morning look dazed and confused,
and many are very wary of further Trump tweets and/or more headlines from
China that can blow them out of the water in microseconds … yes, it is that bad
… nobody has any idea of the risk they take on when they take a position … in
gold right now, that risk has risen to about $5 per trade if shit blows up in your
face and you get caught … in the DOW30 it’s far worse … at the start of NY
trading, what the hell is anybody supposed to think in terms of trading
conditions? … the mental patient a/k/a gold is sedated now, but when does the
medication wear off, and then what?
Is it stocks running gold, or gold running stocks? … it’s hard to tell, as they are
inversely correlating tick-for-tick at the moment … stocks retreating some, but
you have to ask yourself when the PPT comes back in and strikes terror into the
hearts of the shorts once again … they aren’t gonna let stocks fall off a cliff
without a fierce fight, and this slow crawl higher in gold is worrisome cuz of the
risk involved in one or a group of M1’s that get slaughtered … slow climb up, out
the window on the way down.
Oh boy, Trump is having a news conference with Milksop Macron from France
… good thing nothing surprising can come from this, huh? [snark] … and I await
the spikes from hell.
Mid morning in NY, and with all of the massive sigma moves overnight, political
uncertainty, and news flow from around the world [read China], it’s a wonder
anything is even trading … very tepid flows, with very little volumes until
somebody panics … then things pick up until it’s somebody else’s turn to puke
… and in a nutshell, this is what so called 🙶markets🙷 have turned into … a sad,
sick joke.
I sit here and wonder in this pile of shit, 🙶what am I to make of a gold market that
literally moves $65 + overnight, in the dark as usual, and now in New York can’t
move $5 while the world is watching? ... WTF? … did the RPT give gold a sedative
while I wasn’t looking?🙷 … markets flat lining, offering those that got mauled in
the dark, no chance whatsoever to make anything back now that NY is in charge
… you think this is a coincidence? … so, what is it I’m supposed to do here, now
that the gold VIX has gone from outer space to dead within a couple of hours?
… quite frankly, markets have entered George Costanza’s 🙶bizarro world🙷, and
I’m wondering if they can ever come back.
Afternoon now in NY, and gold has not reacted very well to last night’s blitzkrieg
in price … if today’s high isn’t a short term top, then I give up … we’re so far off
the high, and from Europe forward to now couldn’t get within approximately $20
of the top speaks volumes about this blow off top … looks to me like they found
that last nickel of spec money to buy the high … but, since this is gold, who
knows? … only the next Trump tweet knows for sure.
London was closed today for bank Holiday, so that took some shine off trading,
but still, today’s New York action simply pathetic given today’s range … gold VIX
dropped so fast intraday, it was like watching a balloon deflate in real time
… simply amazing to see … algorithm buy signals today in gold non existent,
and with good reason … it didn’t frickin’ do anything or move anywhere!
Who knows what tonight brings in the Asian session, or how China reacts to
anything, and ends up moving markets like a 9.0 Richter scale earthquake … all I
can do is go with the flow and take the algorithm buy signals when they come
… as long as trading isn’t dead [like now] or meth induced bat shit crazy [last
night], we’ll get plenty of good signals … we now find ourselves after 2 PM EST,
and I want no part of the afternoon criminal games that go on in gold … until
tomorrow mi amigos … Onward & Upward!!
Have a great day everybody!
-vegas
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