“There’s always at least one guy who stays long gold too long!”
Well, that escalated quickly to the downside, didn’t it? … with the ChiComs closed
for partying all week, the FED removing the punch bowl, and the whole spec world
long gold, what did you think was gonna eventually happen? … REMINDER: there’s
no orderly exit from long gold positions … evahhhh!!
And right along with the slaughter, trading conditions get worse from last week
… blown out spreads and simply horrendous slippage are now normal … Cousin
It, having learned ZERO from last week, trades gold and gets brutally mugged and
robbed by the Turnkey LP’s, which I warned him was gonna happen … quite
frankly folks, XAUUSD is untradeable at the moment … go ahead and trade it if
you want to lose money or hand free money to the scumbag bullion dealer bank
LP’s … me, I want neither.
The stock indices for their part, stuck in mud with another “inside day” on the
NDX100 from Friday … the action in here not very good, despite a very small rally
as gold broke down over $30 per Oz. off its Asian session high … really pathetic
… it’s Monday and nobody gives a shit … quite frankly, the “scumbaggery” in here
is approaching gold for its notorious slippage on fills when the market isn’t really
going anywhere … don’t ever expect these LP thieves to make an honest market,
especially at Turnkey, where if truth be told and we could possibly find out, I would
bet money that they direct the majority of their customer orders to third parties
that they either control or have a substantial stake in the business, and of course
the fills are off the market for customers … sadly, we’ll never know and they sure
as hell ain’t talkin’.
Cable doing nothing today, with a range that is small … really choppy action
… the DAX30 putting in another sub 100 index point day, as even 2 year lows in
EURUSD can’t stimulate stock demand like it used to … and looking around the
markets, there simply isn’t anything to do … spikes from hell everywhere, and not
just in gold, which tells you they’re either front running futures AND/OR punishing
order flow … and as a reminder, China is closed all week until October 9, so no
direction from them in anything … glorious leader day or some such shit, who
cares … that lack of direction and Europe being Europe and punting the ball
every chance they get, leads to New York sessions run by criminals for criminals
in just about every market imaginable … a slew of FED PIE HOLES starting
tomorrow, some PMI’s, and of course the infamous NFP report on Friday, and it
looks like today is the throwaway day of the week … let’s hope so, cuz this is
Until tomorrow mi amigos … Onward & Upward!!
Have a great day everybody!