“Stonks” love inflation, just ask the 1970’s and early ‘80’s … err, wait cuz they
suffered mightily … now with the 2 biggest set of Dopes ever to head the U.S.
into the next financial quagmire, with policy choices that are literally insane, it
seems a good time to review “Stock Bellies”, specifically the DOW30
[a/k/a “The Tulip Bulb 30”] … the belief that the FED is protecting “Stonks” is
widespread among traders / investors, and has been since unlimited QE showed
up … there’s a whole new generation of folks who believe “bear markets” last
about 1 - 5 hours [tops], and if it really gets ugly maybe a few days … and the
entirety of the indices space is ruled by the “88/6/6” paradigm … BUT FOR HOW
LONG?
The “U.S. of China” is running into the math here … [I know Barbie, math is
“racy-ist” and hard, but nonetheless totally REAL!] … and while it hasn’t gotten
ugly yet, today so far, the DOW30 is down for the 6th trading day in a row, where
in the previous 5 days, the “Chipmunks” get fed at the NYSE open, and then all
hell breaks loose to the downside in seconds … not exactly comforting for longs
is it? … what can the Faculty Lounge Lizards at the FED do? … all they know is
CNTRL-P 24/7/365, and “Brrrrrrrrrrr” goes the money printing machine … at some
point, it doesn’t matter anymore!
Well, that escalated quickly didn’t it? … gold gets monkey hammered, and again
I have to ask the question of, “is this FED led to save JPM and the other bullion
banks from their “unallocated” shorts that have to be closed by Friday’s close of
June 25”? … and suddenly the topic of “talking about talking about tapering" hits
the financial MSM … how convenient isn’t it? … and when the shorts are covered,
watch this “talk” disappear!
And again for gold, ALL of the action is in either the Asian session or the
European session right up until the NYSE opens … and then let the bullshit
commence, as today shows with perfect clarity!
The DOW30 not liking this tapering talk one bit, and with indices at or near record
highs and at all time nosebleed levels, we could be at the start of the back 6% of
the paradigm … dunno yet, but rallies are awfully short lived and very shallow in
scope … and it makes for ugly scalping, and for those looking to be LONG, we
aren’t even close on the m15 to be in “buy mode” … in gold, there was volume
pre NYSE open, but since then it’s been a disaster … think that’s an accident?
[there are no accidents in trading] … and like much of Friday, this is bullshit to
the downside and just something to deal with … meanwhile, silver is “UNCH’D”
and that should tell you all you need to know about gold and the “scumbaggery”
around the Basel 3 stuff happening in 2 weeks, and how the banks are being
bailed out by the FED … “who do I email to get this deal”?
We’re into the early afternoon of the criminal New York session, and like many
times before, it’s “speed of light … crickets” … Loser formation, and have a nice
day … I mean, it is what it is, what can I say, cuz unless you want to sell the break
there’s nothing to do in the DOW30, and in gold, once the “scumbaggery” around
the NYSE open was done, it’s been straight sideways with volumes shrinking by
the minute … this is a disgrace, led entirely by the FED … I can’t wait for these
scumbag banks to be out of precious metals trading … and in “Stonks” the
biggest rally of the day [20 points, big whoop] comes at 1:30 PM EST on
shrinking volume as well, and the trading action is pathetic … there simply is
no “pop” to price movement, simply a crawl, and this isn’t what I’m looking
for … Oy!
Meanwhile, crypto is dead, with some BTC bounce over 40K on an Elon Musk
tweet … other than that, stone cold D.E.A.D. across the alt-coin board, with ONT
having an approximate range of 500 ticks, where its 20 Day Range MA is sitting
at 330 and a few weeks ago was over 1800 ticks … talk about a contraction in
VIX, this is a collapse! … today even ETH in a pitiful range of only approximately
$150, with a 20 Day Range MA of over $400 … [help!, I’m melting!] … and
suddenly, in an act of pure hilarity, here come the scumbag HFT LP(s) at Turnkey
in ETHUSD, and the bid / offer spread is under $2 … “I guess ripping people off
with $7 - $20 spreads when it was moving, ain’t quite workin’ for ya anymore, am
I right or am I right? … so now, with hat in hand and biz crumbling you want me
to trade this? … how does fuck off sound? … keep it there for a month and I’ll
consider it … geesh, what a bunch of scumbags”!
FED meeting tomorrow and Wednesday, and boy does Spicoli have a juggling
act ahead of him on Wednesday, where the bullshit coming from him will be so
fast & furious, you’ll need hip boots to withstand the torrent … of course he’ll
lie, and then talk out of both sides of his mouth like all Apparatchiks & POLS
do and give bones to each side of the fence and leave everyone with a headache
that listened to this shit … 5 minutes after he’s done, nobody will remember
anything he said. He’s gonna be asked about “talking about talking about
tapering” and when, with enough caveats to make anything meaningless … look
it’s pretty simple … THE FED CANNOT RAISE RATES IN ANY MEANINGFUL WAY
EVER AGAIN CUZ OF THE FOREVER QE CNTRL-P AND THE TRILLIONS NEEDED
FOR DEFICIT SPENDING … the U.S. of China is fucked and everybody with a
brain knows it, and the hope of all of these FED Lounge Lizards is to NOT BE
THERE when SHTF … who knows when it starts in earnest, but start it will, either
sooner or later, cuz there is no choice anymore of paying any of this
astronomical debt off … it gets wiped away via hyperinflation!
It’s after 2 PM EST, and I’m pulling the plug on gold and the DOW30, for any
possible trade via the algorithm in day trade mode … it ain’t there, and if it
shows up, there isn’t enough time to let any market work like it should … from a
scalping buy mode perspective, volumes suck so badly, the parameter settings
for a scalp buy are skewed cuz of the pathetic volumes once New York gets
going … in other words, “buy fuel” becomes an illusion for profitable success
cuz there ain’t no volume to speak of, and the trade becomes simply a “coin flip”
… is this your strategy then? … well, it ain’t mine!
No trades in anything today, and most likely tomorrow and Wednesday get
progressively worse in terms of trading action, up until 2 PM EST on Wednesday
when SHTF and we can expect some major explosions in price somewhere
… sure, we could get some surprises, and if we do I’ll be here to capture them,
but I’m not expecting any cuz as ZH aptly notes, this is Spicoli’s most important
FED meeting of his career, and that means “hurry up and wait”! … we’ll see.
… outta here … “the future’s so “GOLD”-en bright I need sunglasses”! 😎
… Onward & Upward!!
-vegas
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