First before I start today, some general comments about yesterday … I should
have known better to think Cable has changed … it hasn’t, and it’s still the
manipulated piece of shit along with the rest of FX … cuz the bullshit yesterday
where the scumbag banks had prior knowledge of the total insane lock down of
England, one which created the needed bump in volatility, got them what they
wanted … and today? … not even a fart in FX or Cable as shit drifts endlessly in
mindless chop with a drift upwards … so, while not the trading algorithms fault,
the blame lies squarely with me, as I mistakenly thought conditions would be
different post BREXIT … nope … well, goodbye FX you won’t be seeing me again
unless hell freezes over, which means crypto dies, and even then I dunno … and
while we might have to put up with bullshit bid/offer spreads from time to time,
it’s better than losing money to manipulators … and with that, it’s time to move
on to crypto.
Basically, the only thing to trade is Ethereum or Bitcoin at Turnkey … Litecoin
looks promising, but analytics under the hood will make you realize quickly it’s
not the trading pair you thought it was … even for “The Syndicate”, ETHUSD is
the better pair, and moving forward my attention is on ETHUSD … Bitcoin yes,
but I’m not paying $30 - $50+++ for a stupid bid/offer quote to trade, with slippage
to boot, and then quickly realizing within 1 nanosecond, “whoops, that wasn’t a
good idea, as within about 2 seconds you’re down $100+ … now what”?
Am I gonna have to morph into a “Chucklehead”? … another day sees the
pre-Asian to end of the Asian session put in just fantastic moves in both BTC &
ETH … I show up at 4 AM [3 AM EST] and this shit immediately dies … today,
another $160 range in ETHUSD in the Asian session, and since I’ve been here
the last 6+ hours, we can’t get a $25 move from the median at 4 AM to anywhere
to save your life … and to say this is greatly pissing me off is an understatement
… so tonight, just to make sure somebody has to end the madness in Asia, I’m
gonna stay up late and attempt to trade ETH during that time … hopefully the
spread isn’t obscene, but knowing Turnkey that’s always a possibility … we’ll
see.
So, is “Mr. Burns” over at Greyscale, or another large HFT/hedge fund with
trillions under management the new “Plunge Protection Team” [PPT] for crypto?
… cuz from where I’m sittin’, the trading action in the top 2 dogs [BTC & ETH] is
eerily similar to the “Stock Bellies” PPT manipulations from the FED in the
SP500, NDX100, & DOW30 since February 2016 … only it’s faster and worse cuz
it’s crypto … which leads me to my “Homer Simpson Deep Thoughts” of, “is
30K in BTC & 1K in ETH a line in the sand for the new manipulators”? … cuz in
case you’ve been asleep these last months, the M.O. is to run stops below
support and then skyrocket the shit out of both coins to the moon, straight up
the frickin’ wall while squeezing cashew nuts all over the world … you want
“fair & equitable”? … enroll in divinity school!
All of the classic “Pump & Dump” schemes in “Stock Bellies” I’m seeing in both
ETH & BTC these last weeks and couple of months since the start of October,
and I’m seeing ‘em in spades … don’t think for a second, the Grifter Apparatchiks
at the FED are given’ it up for nothing to the “new Grifters” while they rape &
plunder retail specs in crypto … they most certainly are getting their “cut”, right
along with all the brokerage house info you know offshore brokerages are selling
to the HFT’s … remember, Robinhood got $90 million for their customer info from
Citadel, so that Citadel could front run Robinhood orders with impunity … that is,
until the public found out about it and it all ended rather quickly … but offshore
brokerage houses have no such qualms, and they don’t have to report shit, so
yea there’s a “new sheriff” in town in crypto.
So while the panic sell bouts can be frightening, they’re simply stop loss orders
from specs, and when that dries up it’s been straight up the frickin’ wall trapping
those dumb enough to sell into the hole … and BINGO! BANGO! BOOM!, what 2
seconds earlier was selling panic, now becomes buying panic after they’ve
loaded the truck up with sells from specs, and now they aggressively bid it
higher … the big difference in crypto is that the more they buy, the less there is
to buy into the future, cuz what they buy gets “cold storage” and the float goes
down for available crypto … and if you’re part of the big money crowd, nothing in
the history of the world is quite as delicious as buying up all the supply and
knowing there ain’t no more eventually at any price … the perfect storm!
Sooner or later, more & more people get the FOMO bug for either BTC and/or
ETH … while ETH can increase supply of ETH, BTC is fixed forever from its
inception in 2009, and when the “whales” squeeze this stuff, my goodness I’ve
never in my entire professional life ever seen anything quite like this … nothing
EVER compares to it … which leads me to the inevitable conclusion that some
big drop back to single thousand digits is a “pipe dream” … ain’t gonna happen
mi amigo, cuz too many Wall Street virus scumbags are pouring billions into it
… and unlike the manipulated markets of FX & “Stock Bellies”, the FED can’t
CNTRL-P machine the money out of thin air to sell crypto … you got to own it
first, otherwise it doesn’t matter in the cash market … “now, where can I buy
1,000 BTC? … Bueller? … Bueller"?
No trades today in the Turnkey PAMM / MAM.
I’ll be ready this evening in Asia, but for the entirety of the day I’ve been at my
screen, going on 9+ hours now, Turnkey can’t seem to provide a decent
tradeable bid/offer spread in ETH … BTC is a frickin’ joke, where I guess the
days of under $15 are now a thing of the past, and life is $20+ minimum with no
cap to how high they can make it when it pleases them … and that could be $50,
$100, and from what I’ve seen lately, over $300 for brief insane moments … and if
you’re dumb enough to pay that to trade BTC, then you’ll be needing to
download the IRS bulletin on “capital loss carryforwards” for your taxes.
For “The Syndicate” some rough trading today in ETHUSD, where market making
was “interesting” to say the least … spent most of the day placing, then
cancelling orders, but here at the end we’re UP SLIGHTLY LESS THAN 0.1%
Onto the Asian session, where I’m sure I’ll “kill it”, and it’ll be as dull as
dishwater … hey, somebody has to do it! ... I’m outta here … until tomorrow
… I’m full steam ahead! … Onward & Upward!!
-vegas
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