Dead cats are bouncing, especially in crypto, and if you made it out alive after
yesterday’s bloodshed, my best guesstimate is nobody is gonna be running to
their DeFi exchange to hurry up and buy crypto cuz the FOMO fever is over for
now … what’s left in the wake of earthquakes & tsunamis, is not one of good
feelings … the aftershocks and what comes next are very much in play, and while
many got caught “flat footed” via the carnage, traders of crypto will be 100X
more quick on the sell trigger at the first hints of any coin rolling over … in
other words, “all quiet on the crypto front” will be interrupted with brief but
highly intense sell offs, cuz nobody is interested in getting caught again, and
that instability might just be worse than the massacre witnessed yesterday, cuz
the “easy money” gains many had come to take for granted, ain’t gonna be there
for a while … how long that “while” lasts is anybody’s guess, but you can’t
simply ignore -50%+ LOSSES across the board within hours … it’s gonna take
some time to heal and convince the wider Sheeple who got fleeced, especially in
Ethereum [ETH], to come back with their wallets … and that’s why my blog
header pic today is from a WWI battlefield, cuz in many ways it’s a perfect
metaphor for what reality shows the crypto landscape to look like right now,
versus the idyllic field that existed before … the “game” will go on, but the
psychology of the game has changed, and nobody but nobody knows what
comes next.
In other markets, there’s paralysis on a scale that’s “off the charts”, then total
panic either up or down, followed by … nothing … gold in particular, making
sense one minute, not so much the next … the euphoria felt by many at gold
tops, when nothing seems like anything could go wrong with a long position
… the utter despair at gold bottoms, and the feeling of “I’ll never touch this shit
again” it’s so bad … and then panic the other way, as scumbag bullion dealer
banks, in particular JPM, set off the “Comex Con Game” yet again for the
millionth time … yesterday a perfect example of this … hopefully “Basel 3”, which
goes into effect at the end of June, will spell the end of the “Comex Con Game”,
but we’ll see how it shakes out then.
I will reiterate again, that if the U.S. had a government that actually cared about
the people of the country, instead of the rampant corruption of lining their own
pockets first, followed by fascist cronyism, things would be entirely different
… and ever since 1913, the FED has been undermining the country while
enriching elites everywhere … now, we’re at a place where bullshit comes to a
head and the math takes over … they are trapped and they know it … growing
bubbles isn’t their mandate, but since when does that matter … the only thing
they care about now is enriching their BFF scumbag banking pals on Wall Street,
so they can cash in on the quid pro quo due them, and of course not being there
when the revolution starts and heads get separated from shoulders … as for you
and your family? … they could care less, they’re amoral Apparatchiks.
I have often stated, that if you add up all the money people have lost in the gold
market over the last 46 years, since its modern day inception on New Years Day
1975, it would be GREATER THAN ALL OTHER MARKETS COMBINED … and
there’s a reason for this besides constant, never ending FED manipulation on the
sell side … now that crypto is in existence, it should dawn on people that gold is
nothing more than a “quasi” crypto pair, and as such the emotions I stated above
are powerful, and prevent most from buying / selling “right”, and what’s left is
emotional trading that’s gonna hurt … cuz if you think you can “think” gold
up/down, or your intuition will win the day [which most do], then you’ve lost
before you’ve even started, and scumbag banks like JPM thank you for playing.
There is another market I’m adding back into the mix starting today, and that’s the
DOW30 … about 95%+ of the time the spread is good, and when SHTF and the
spread blows out, you just leave it alone … between gold & DOW30, we have the
best “2 punch” lowest cost to trade on the MT4 that actually moves … both are
covered in the upcoming release of the trading algorithm … my only criticism of
this CFD at Turnkey, is that it only allows trading in whole lots of “1 * the index”,
so there are no fractional lots available … for the PAMM that isn’t a problem, but
for some smaller traders it might be … and as we witnessed yesterday, when
crypto went completely “bat shit crazy” [BSC] to the downside, crypto at Turnkey
turned into quite the “circus shitshow” … everywhere else, the low in BTC was
right at 30,000, but at Turnkey the low was in the 28’s … $1,000+ spread is the
reason, and all you can do is laugh … so, crypto at Turnkey has now turned into
worse than a joke, so they aren’t even a consideration any longer … in any event,
“Stock Bellies” are perceived “protected” by the FED, so in this misguided
approach that some day will end, but at least for the present it won’t, and that
means the DOW30 is in many respects like a crypto coin that sees plenty of
“BTFD” buyers … and that spells opportunity and why I’m adding it back into
the mix.
And as New York comes in as the sun comes up, things are definitely “muted” to
say the least … “OK fine, they’re dead”! … what do you expect after yesterday’s
trauma to markets in general? … except FX of course, which has no pulse to
speak of, and most likely ain’t getting one anytime soon … at some point this ends
and another round of panic begins … something to look forward to?
Well now, isn’t that special? … nothing says “Stock Bellies” lovin’ like hitting a new
low for the day at 5:30 AM EST, and then going straight up for 550+ index points in
6 hours … so far, 12 M30’s in a row STRAIGHT UP! … this is just stupidity on
steroids … and BTC shrugs and says, “what debacle”? … gold for its part,
sleeping today [so far], with a slight bias to the upside … and if the gold gains
hold, this is the 11th day out of the last 12 that gold is higher … and if the idiots
buying gold with ZERO common sense don’t take their foot off the futures
accelerator, what happened to crypto yesterday is gonna repeated in gold real
soon … most likely not the extent, but these straight moves with almost no
corrective activity lead to the slaughter house for the pigs that are in them … sure,
I’m bullish on gold … for a trade, cuz the atmosphere is positive given the
humongous stupidity, corruption, and FUBAR nature that is the “U.S. of China”
and the financial house of cards built by the FED over the decades … but I ain’t
buying rallies cuz I know what happens when that moment comes when the
music stops … everybody thinks they can time the moment the music stops and
find a chair, but the fat kids will get the chairs and you’ll be late selling … so,
nothing to do in gold until it corrects some.
Over in “Stonks”, all you can do is laugh at the bullshit going on in the DOW30
today … must be “corporate buy back day”! … and sure enough, when it ended,
straight down 170 DOW30 index points, and now who wants it after putting in a
600 index point range, when the 20 day Range MA is around 450 index points?
… chop ‘till the close I expect, this day is over.
Multiple algorithm buy signal trades today in the DOW30 … TURNKEY PAMM UP
SLIGHTLY.
We made back some pennies from yesterday on the “UNCH’D” day, but
whaddaya gonna do when it goes straight for 6 hours UP 599 index points right
off the low to the high for the day … and on that break we got some algo signals
for profit … when that kind of shit happens, it simply skews the entire day … still,
better than gold which acted like it was asleep for most of the session … and I will
mention again, gold is getting “set up” again for disappointment via the
“Comex Con Game” … 11 out of 12 days up, and more than likely they’ll trot out
some Apparatchik to say something, and the first $10 lower will happen before
you can say, “WTF was that”? … it’s their M.O., it’s what they do & who they are.
Over in crypto, no trades today for “The Syndicate” … I’m watching some other
alt-coins to get a feel for them, cuz I think there’s a chance TRX has got some
consolidating to do here at lower levels under 10 cents, and that means sharply
lower ranges and an upcoming contraction in the 20 Day Range MA … it’s too
early to tell if today is simply a “dead cat bounce” before selling resumes, or
consolidation starts and a base is built to go back higher at some point … either
way, that point ain’t now, so why give back anything in chop? … right, not gonna
do that just to say I’m trading … so, I’ll report on some other alt-coins either
tomorrow or on Sunday’s blog update.
Quite frankly, with the effort expended to keep the silver price down by the FED,
I don’t think gold has a lot of room up here close to 1880 - 1900 … silver is gonna
need to breach the “Wall Street Bets” [WSB] high at $30 per Oz., and I don’t see
that happening without a severe fight from the manipulators, cuz if it gets through
that level, the game is on! … it’s simply a waiting game in metals to see if rates
rise with any economic pickup … cuz if that happens, gold is gonna get “monkey
hammered” back down unmercifully … which brings me to the corrupt FED, and
their “need” to constantly talk about rising rates, but never actually raising them
… which of course, they can’t cuz of the level of the national debt and further
borrowing … but all it takes is further “talk” of “tapering” or hiking the funds rate,
and gold gets beat up in a heartbeat … do not expect that to stop anytime soon.
And without fanfare, when everybody gets long and expects gold to stay up near
the high, blink your eyes and “Smack Down”! … well, there’s $10 per OZ. nobody
expected to the downside, and at the close we’re right where we were when
“Stonks” opened and started the “buyfest” … and this is what happens when
you buy rallies, and why I scalp markets not position ‘em.
Outta here … “the future’s so “GOLD”-en bright I need sunglasses”! 😎
… Onward & Upward!!
-vegas
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