“Another generation learns the hard way the meaning of RISK!”
Of course I didn’t see markets playing out like this, I’m a “trader”, not a dopey
“guru” … but when your livelihood is the money in your trading account, and
plan “B” is “would you like like to supersize that fries order, or add a hot apple
pie?”, you make it a priority to make risk #1 … and an entire generation of
wannabes have learned that lesson in spades in the last 7 days … “hey, I
warned people this would be ugly when it ended, and it’s nowhere near over
… cuz what can’t be sustained, simply won’t be … sure, the dopes at the FED
can prop the shit out of stocks and bonds, and manipulate markets for a while,
but sooner or later the bills come due, and this one was historic … I’ve been
trading since the start of the “modern era” of trading many decades ago, and
I’ve never seen anything like this either, as the scope and breadth of this “Black
Swan” coronavirus has simply left people’s investment & trading accounts for
dead.
Next on the horizon, is the financial implosion of the U.S. government, as trillions
are wasted every year and it’s piling up … sometime in 2024, every penny the
U.S. government borrows will go towards interest payments on the national
debt … and it’s not just me sayin’ it, it’s in a document produced by the Treasury
department … any guesses what happens then? … you think this stock market
crash is bad? … wait ‘till the EBT cards can’t be loaded cuz there’s no money,
and talk to me about “Snake Pliskin” and what happens in the inner cities when
SHTF.
Stocks today on sale, right along with the fairy tale stories attached to them and
how they can’t go down cuz of the “FED put” … I beg to differ … and right along
side the gold bars from the “goldbugs” who never met a price they didn’t think
had to go higher, stack that unicorn meat right next to your profits in gold this
week from holding onto it … sure, if your time horizon is 10 - 20+ years, who
cares? … but I’m talking about the “Chucklehead” dopes who were “all in”
Sunday night and shoved our favorite pet yellow rock up to 1680-ish … it’s
called a mini “blowoff” top, and any guesses what happens when too many
people get to “giddy” about anything? … today sees gold get absolutely
“monkey hammered”, to the tune of almost $80 per OZ. off the day’s high set in
Asia [of course, where else?], and rumors have it that it’s “Peter Pan” Kuroda at
the BOJ responsible for the intervention this morning that saw gold get spanked
about $60 per Oz. in less than 2 hours … in case you missed it, the link over on
ZH has the details, directly below.
So, how many people do you think got obliterated in gold today? … my guess is
quite a few, and more than you think … by my recollection, the last time gold got
“gobbed smacked” like this from intervention, was when the FED introduced the
“Rally Protection Team” [RPT] back in February 2012, and gold went down
around $100 per Oz. that day, and the market was literally in a state of shock
… it’s a far different world today then back then, and at that time who knew we
were on a ride down to 1050 in gold in December 2015.
As you might expect, today sees bid/offer spreads in the stock indices blown
apart at the seams … 4 days in a row of unprecedented mega ranges at or over
1,000 index points in the DOW30, right along with slippage conditions I don’t
even want to think about … as I said yesterday, as far as trading is concerned
from a “trading conditions” perspective, the stock indices are going to need a
very long time to recover from this week, cuz what’s gonna happen is liquidity
is going to get worse, not better, and people that traded them will leave cuz they
don’t want the pain from scumbag LP bank bullshit, and it doesn’t matter
whether it’s futures or CFD’s, the volumes will drop … and ditto for the foreign
indices as well, especially the DAX30.
Even with the heightened activity in gold today, and the monster range put in,
trading conditions up to the time gold broke the 1605 level and headed under
1600, spreads were good, holding right at 13 - 17 cents per OZ., and things were
normal … enter “Peter Pan” & crew, and SHTF where all hell breaks loose
… within a few minutes of the blowoff low down around 1571, spreads did widen
some by about 5 - 7 cents, but were soon back to normal … quite frankly, gold is
and always has been my favorite market to trade since that day long, long ago
[yes, it’s been that long but seems like yesterday] when I first walked into the
gold trading pit … but as I have documented before here on the blog, it has
been a torturous task in the electronic age of trading since about 2001 - 2003, to
get adequate trading conditions in gold “EQUAL TO OR BETTER” than the
trading floor of days past … quite frankly, it’s been a B.I. Itch to put it mildly … it
took the offshore brokerage community years [2003 - about 2011 - 2012] to get
XAUUSD with a spread UNDER 50 CENTS … since then, spreads have come
down gradually to where they are at now around 13 - 17 cents, from about 2017
… well, since 2017 up until the start of this year, it’s been a battle to minimize
horrendous slippage on fills, and I’m not talkin’ about trying to get orders filled
on news or reports, I’m talkin’ “normal” trading conditions during the day … “hit
the button and get filled 70 cents off the current high tick showing on a buy, and
literally 1 second later you’re down $1, and it tends to piss you off, knowing you
just donated to the scumbag LP bank Christmas party … “you ain’t invited, but
thanks for the free coin”!
Today sees gold have an approximate $28 range when Europe came in, and
when I watched it last night near the Asian open, it was rather dead … I stayed
with it for a couple of hours, and then went to bed and got up about 4:30 AM, just
a little after the European open … and even though I missed some great algo
signals while I was asleep [the Mrs.: “hey big shot, sleep when you’re dead”!], the
market sure didn’t disappoint moving forward.
One good algo buy signal in gold today … TURNKEY PAMM / MAM UP right in the
middle between 0.1% - 0.2%.
Very good trading conditions today, and couldn’t be happier with the fills and
latency in gold … when I liquidated on a “spike up”, got filled 2 cents off the high
bid for the M1 … so, can’t say enough good things about the gold LP’s at Turnkey
so far … keep it up fellas!!
More than likely, this Sunday sees me finish my new e-book … wanna make a 6
digit dollar income from trading? … get it, read it, understand it, then FOLLOW
IT! … it’s been streamlined, easy to understand, easy to implement, and very
easy to follow cuz it’s all VISUAL inside the MT4 … OR, sign up for the Turnkey
PAMM / MAM and I’ll do it for you for 17% of the profits … whatevs, it’s your call
… I’ll have more on the e-book on the Sunday blog update.
Outta here early today … until Sunday mi amigos … Onward & Upward!!
Have a great weekend everybody!
-vegas
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