Another day on Clown Hill, & Spicoli is begging anybody who will listen that the
system needs more financial heroin & meth, a/k/a QE a/k/a “money printing”,
a/k/a destroying the currency & wealth of the nation … “I find it amusing anybody
believes anything any of these FED PIE HOLES say … cheating & destroying the
middle class of ‘Murica since 1913.
And since a few days after the great crash of October ‘87, the “Plunge Protection
Team” [PPT] has been around to make sure stock indices markets go only in one
direction … this is the biggest fraud in the history of the world, bar none, and it’s
on full display almost every single frickin’ trading day! … to think somehow there
will be no future cost for this folly is purely delusional.
And nowhere is delusion stronger than the E.U., and its bellwether stock index
the mighty DAX30 … enough dinosaur companies in this thing to furnish a
natural history museum … and the worse the bad news is, the better the index
performs, in this age of “enlightened” financial theory bordering on insanity
… cuz the bigger the depression the more QE gets printed & distributed to
zombie companies … they then get the cash and immediately start buying back
their own stock, thus cutting the float outstanding and raising earnings without
doing a “Hoover Dam” thing … “let the insanity continue to the end”!
Multiple algorithm trades today in the DAX30 … TURNKEY PAMM / MAM UP
SLIGHTLY LESS THAN 0.1%
Even with the trades, there were a few signals that got blown through like a hot
knife through a soft butter stick … upwards of 10+ index points on each one
… not surprising since the IVIX INDEX level at the time was above 150 … not the
best trading conditions today, as the market went through its usual straight
down / straight up schtick for the European day, with only a few windows of
opportunity for algorithm trading, otherwise you’re simply buying the rally and
that will get you carried out toes up.
Still conditions were good enough to bank some coin at the right opportunity
… my volumes are light cuz I’m not a fan of the DAX30 up at these nosebleed
levels around 13,000 … and while the ECB doesn’t directly PPT the DAX30 like
the U.S. does with the SP500, Dow30, & NDX100, they use other means to prompt
rallies via the Bund spread to U.S. Treasuries to get the HFT’s in gear, along with
some banks … not nearly as bad as the U.S. in their heavy handiwork, but when
this stuff gets a hair up its nose & moves, and you find yourself on the wrong
side of the profit equation, there are “no rules” anymore as to how much the
damage can be … the trading algorithm pinpoints exceptionally well the turning
points for “buy fuel” and the banks & HFT’s participation in goosing the market at
specific points in time … when IVIX [intraday volatility] gets high, often times the
signals get blown through like today and some days in the past … that’s the price
we have to pay and I don’t FOMO [fear Of Missing Out] any market, so if we miss
it we miss it, and I’ll wait for the next opportunity … still, given other markets
conditions which aren’t very good or are highly erratic due to BREXIT BS [and
you know who that is don’t you?], when the DAX30 “behaves” it’s a very good
market … lastly, Turnkey has been very good recently since they’ve gotten rid of
the banks & gone to HFT’s in the indices … good latency on fills, and most
importantly NO SLIPPAGE to speak of from the bid or offer when I hit the button
… I gave them plenty of grief when things weren’t as good as they should have
been, and so I owe it to them to dish out praise for their efforts … please keep
it up!
Europe closed now, and we’re into the New York afternoon … that means
scumbag “criminal” New York banks driving trading action … thanks, no thanks
… outta here early today … until tomorrow … Onward & Upward!!
-vegas
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