“Welcome to markets in general, but especially FX!”
Late yesterday, after markets had closed, comes a well placed rumor on CNBC
of a miracle drug that cures coronavirus … Bingo!, Bango!, F-ing Boom!, up goes
the SP500 futures mightily to the tune of 80 frickin’ handles [about 3%], FX major
pairs rally into early Asia, and then about 4 hours later the company [Gilead]
who supposedly is producing this “miracle drug” announces it’s all bullshit
… come to find out with some digging, it’s all attributed to a well known hedge
fund huckster who shills for biotech hedge funds … if you want the full story,
directly below the link today from ZH.
Quite frankly, why should shit like this shock anybody? … oh, where are the
regulators? … are they still watching midget porn on office computers that late in
the day, or are they holed up at home with the study door locked from the wife &
kids, and too “Hoover Dam” busy with “other stuff”? … and this weekend, that
garbage bag in the garage stuffed with cash just magically appeared … “Honey,
any idea where this came from”? … a “classic” case of “pump & dump”.
Move over to today’s FX, and all through the Asian session and early Europe,
right up until the criminals get off the commuter train and turn their prop screens
on at Wall Street banks, it’s a “slow walk” down in price, culminating in a new low
for the day just above 1.08 in EURUSD … then miraculously, it turns on a frickin’
dime, and 2 hours later we’re only a dozen PIPS or so from the high for the day …
“did the “fun-durr-mentals” change''? … Nope … what happened? … what
happened is the ECB in conjunction with the FED & Wall Street criminal
enterprises [round up the usual suspects] gave the “wink wink, nod nod” and
placed very large bids underneath the market … that gave the scumbag LP banks
the green light to “bid the shit out of it” and turn it around … which they did
… the fact that it comes right as these scumbags hit their desks is neither an
accident or coincidental … it’s perfectly timed for what you’d call a perfect non
intervention intervention in the EURUSD … did anybody besides these scumbag
banks have this info? … only the prop accounts at the banks, which are illegal,
but nobody gives a fuck as long as the payola is distributed on time [like this
weekend] … and away we go! … longs crushed all night long, then it’s time to
crucify the shorts … mission accomplished!
Viewed in the traditional concepts of how markets operate, you’d be confused to
say the least to this kind of action … viewed in the context of modern day
government central bank manipulation, along with their BFF’s the scumbag LP
banks, it makes perfect sense … quite frankly, anyone attempting to “position
trade” FX is a fucking dope, cuz you’ll run out of money first before you realize
what’s really happening … sure, once every 5 - 10 years for 6 - 20 weeks, the
major dollar FX pairs along with some of the major non dollar crosses will “trend”
… meaning the momentum is good enough to extend gains in one direction or
the other for some gains … the other 99% of the time the fucking LP banks will
eat your lunch, rob you blind, and leave you at the side of the curb for dead
… “I’ve known this my entire adult trading career … if you’re still trying to “figure
it out”, do yourself a favor … don’t, cuz it can’t be figured out, the banks make
sure of that … only when viewed in the modern trading paradigm of massive &
complete manipulation, do you have a chance of success in trading”.
Well, now that the longs got crushed, then the shorts, and then some new buying
came in on the early bird EURUSD rally, it’s “rinse & repeat” time, as the longs
are slowly getting stopped out on longs bought near the top of the rally … ho
hum, just another day in the manipulation matrix … and when the banks get
sufficiently long EURUSD and all the spec longs [collectively] are no longer there,
then you’ll see the next rally start.
Think like a scumbag bank trader whose job is to trade the bank’s prop account
… your “bonus” is tied to fucking specs … buy their sells, sell their longs and
fill stops just short of not getting indicted by the FEDS … pay attention to the
institutional trade desk just down the aisle from your desk, cuz the “wink wink,
nod nod” unwritten rules of communicating are in play here … that’s how they
win consistently, and it’s THE ONLY WAY you should view trading.
Of course the ballgame is tilted heavily in favor of the scumbag banks … that’s
the way they set it up, and with all the payola being distributed either weekly,
bi-weekly, or monthly to those in power, it’s not ever going to change short of a
complete revolution … remember, FX “pays the bills” for EVERYTHING in the
financial industry worldwide … why do you think they let you in the game?
… cuz they’re “nice”? … they view your money as really theirs, only right now
you’re still holding it, but they have every intention of getting it from you, unless
you wake the fuck up and realize how the “game” is really played.
The last few days of this week have been interesting from a “risk on, risk off”
perspective in the marketplace … in other words, the usual correlations have
broken down and it has really confused some traders … that might explain,
outside the usual manipulation by central banks, the lack of volumes & liquidity
usually seen … both have been significantly lower this week … of course, once
trading passes the European close, you can fugetaboutit as far as I’m concerned,
cuz the shit weasel banks in New York are good for only one thing, and outside
of the usual money laundering for global elites, their goal is to rob you blind, and
then make you think it was all your fault … today just another example of the
usual “Flying Wedge of Death” [FWD] bullshit inside a very, very tight New York
session range … an almost impossible trading atmosphere.
Here around 2 PM EST, it took the shit weasels about 1 ½ hours, or 90 minutes
to rally EURUSD 25 PIPS, in an excruciatingly slow hunt for buy stops, then in 8
minutes they take half of it back … give them a few more minutes and another
chunk is gone … herein lies the problem; if you get long and it stops rallying and
then slowly starts going the other direction, where do you pull the plug in a
trading environment where nothing is really happening? … get sloppy and end
up doing “stupid shit” like doubling or tripling up, and again where do you pull
the plug? … cuz if it goes against you, you can’t make the loss up going forward
into the weekend? … you simply can’t assume with this crowd of crooks, that
ranges will stay calm and allow you to make money … they think the opposite,
and they know they can fuck with your mind and your account with a play of very
few PIPS one direction or the other … and it’s why I rarely get involved with
anything in the New York P.M. with regards to FX.
A couple of algorithm buy signals today in EURUSD .TURNKEY PAMM / MAM UP
SLIGHTLY [add today & yesterday and it = about 0.1% gain].
The first trade was a scratch and came close to the low, and the second came
after the low for the day on the first correction … the first just wouldn’t move so I
scratched the trade, and the second saw me in the position for longer than I
would have liked … it was never really against me, simply hanging in the spread
to maybe down 1 PIP, but minute after minute going nowhere … finally got up a
little bit and said to hell with this, I’ll look for a better signal later … minutes later
it exploded higher and there was “no later” for another buy signal … the market
simply didn’t produce the necessary conditions for a buy signal … then comes
the Gotham PM, and I’m not interested any longer going forward with today.
Blog update on Sunday … until then mi amigos … Onward & Upward!!
Have a great weekend everybody!
-vegas
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