I thought it was gonna come yesterday, but today is the day Mr. Gaffe-O-Matic
himself crawls out of his nursing home suite in Delaware, and strides [or falls]
to the cameras in Pittsburgh … “infrastructure”! … [cough, bullshit, cough]
… a spending boondoggle the likes we’ve never seen before, where about 1%
of the trillions go for actual national improvements, and the other 99% goes
down the fucking rathole of government waste & fraud.
Meanwhile, a miss on the consensus ADP numbers this morning, as they weren’t
quite as strong as forecast … and for Friday’s NFP, the “whisper” numbers are all
over the place, with yesterday’s article on ZH of JPM suggesting we may see
1.8 million jobs … “who knew Chili’s & Applebee’s could hire so many bartenders,
waiters, & waitresses” … or, with the pandemic hoax ending, maybe Marriot is
hiring doormen & bellhops? … and with the way the Yen has been running this
last week, this could be a major “buy the rumor, sell the fact”.
Every few years, thanks to BOJ idiotic handiwork, USDJPY goes “nutso” bat shit
crazy, in a kind of straight up or down slow motion run over days and weeks
… then it spends the next number of months & years going nowhere … it’s been
this way since the ‘08 financial crisis … and once again, the “reflation trade'' is
gaining momentum, much like it did after Trump’s election in 2016, where from
November to the following March, USDJPY went straight up from about
100 to 118 … and as that fizzled over the months, USDJPY then spent 4 years
going almost back to 100, with the ending lurch lower last March in the pandemic
hoax blowout in FX … so, here we go again it seems.
Of course, take Preezy Depends plan today with a huge grain of salt … he says
tax hikes are gonna pay for it … “sure, sure they are” … what bullshit … this
entire boondoggle is nothing more than bribe money thrown at Libtard special
interest groups, with the taxpayer picking up the tab … “does the “Big Guy” get
his usual 10% cut”? … and of course, all the borrowing by the Treasury will be
monetized by the FED and put on the FED balance sheet … Venezuela here we
come!
Today’s action in FX a complete joke … of the 100 PIP range [so far] in Cable/Yen,
70 of that comes in Asia … “Asia flies, the rest of the world dies! … why should
today be any different”? … not that I expected much, cuz as I’ve detailed earlier,
going into and out of Easter is usually a trading disaster, and this year looks to
be reflecting the norm … quite frankly, nobody really knows what the hell is going
on in the casino, but one thing I can assure you, is that EVERYTHING the
scumbag LP banks & HFT’s do is either front run corporate orders OR fade retail
& institutional spec money flows … there is no such thing as “Fun-durr-mentals”!
… if you believe that, you’re dumber than a box of hammers.
Over in crypto, it feels today like volumes are starting to come back into the
alt-coin space … another alt-coin I really like for trading is TRXUSDT [TRON]
… again, this is IMHO, not financial advice … and like ONT, TRX has a lot going
for it right now … trading action mirrors the same type of conditions seen in ONT,
so right now these are the 2 I’m watching and trading for “The Syndicate”
… quite frankly, better conditions than ADA, which seems to have lost its way
after the “Mary hard fork”, cuz what I want are very tight bid/offer spreads and
ADA to some extent has lost that recently … as for the 2 “Big Dogs”, BTC & ETH,
they are for the most part untradeable.
Quite frankly folks, I want out of this clusterfark month … this time around, end
of quarter seems more FUBAR than ever before ...so many crosscurrents to
navigate … and like never before in human history, a trading climate where
scumbag banks run almost everything … certainly FX, and today sees a classic
clusterfark where the “London Fix” is about as corrupt a process as you can
imagine … and talk about handing somebody their ass, apparently there was a
very large Yen buy order [USDJPY lower] at the “fix” … and yea, they sure got
“fixed” alright … 8 hours of “slow up the hill with no noticeable corrective
movement lower, and in the last half hour up to the fix, it’s all gone within
15 minutes … normally GBPJPY is like a large snake squirming around in the
grass, with all kinds of twists and turns … not today … banks have been doing
this kind of shit since I stood in the currency pits … why stop now? … good
thing it only happens 4 times a year, but the best thing to do is to tread carefully,
and not let them buffalo you into something you don’t want to do … hour after
hour of watching the slow methodical climb up the hill is not how this pair trades,
and sure enough the banks took care of that right before the “fix” … hopefully
we can get back to normal trading conditions now, but first we have to get
through the NFP on Friday, and then the Easter Holiday where flows will slow
quickly into the weekend.
No trades today in the TURNKEY PAMM.
Up until the European close, there wasn’t anything to do … just a bag of garbage
in a very tight range of about 25 - 30 PIPS for 90%+ of the European session … no
worries, tomorrow is another day, and I’ve been warning about this time period
for days now, so it’s not like it’s a big shock to me to see FUBAR trading
conditions right before the Easter Holiday … most years, this is what happens
one way or another.
Over in crypto, got multiple algo signals in both TRX & ONT, and “The Syndicate”
is UP SLIGHTLY MORE THAN 0.1%
Like I said, better volumes today, and let’s hope it stays this way … good signals
in both pairs, my only regret is scalping out of trades and not hanging on a bit
longer in both … TRX making a big move to over 8 cents, and it hasn’t been at this
price level since May 2018 … the ATH about 27 cents in January 2018, so there’s
room to grow on the upside … news today is some kind of pact with Oracle
RE NFT’s.
… until tomorrow … “the future’s so bright I need sunglasses”! 😎
… Onward & Upward!!
-vegas
No comments:
Post a Comment