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Tuesday, June 29, 2021

SO MUCH FOR BASEL 3 & GOLD EXPLODING HIGHER

 

“Peter trades gold!”

What a joke … the Asian session without incident … Europe dead as usual and

almost entirely worthless … then the sun comes up on criminal Wall Street banks

and the FED, and right on cue shortly after 08:00 AM EST [New York] gold pukes

mightily some $25, and as we all know, what comes next? … why the “Loser

Formation” of course, cuz once the order books have been picked clean of sell

stops from the usual dopey retail specs, there isn’t anything left but crumbs … why

have a market when you can just sit and cry?


Then there’s FX, where if it gets any slower, bingo at the old folks home will look

by comparison “exciting” … for major currency pairs today is embarrassing, but

who knows maybe all the hot money is waiting for tomorrow’s end of quarter

balancing to see some movement … don’t hold your breath.


Then, if you want to get a good laugh, wander over to “Stock Bellies”, where

nothing matters but printed CNTRL-P QE “dollar cow chips” from the FED that

supports “Stonks” every second of every day … and the rotation nightmare

among the indices continues without slowing down … someday this shit ends,

and the explosion lower will water eyes, cuz there will be no getting out.


Meanwhile crypto meanders, with tiny moves in ETH & BTC, but the alt-coins are

dead … quite frankly, only time will bring this complex back after those that got

clobbered going full retard FOMO get over the pain.


Cable down for the 4th day in a row … in the European session, only one

algorithm buy signal, but dozens of sell signals … you simply take the good with

the bad and deal with it, cuz if you go both sides of the ball, there will be days the

market literally kills your account … and as far as LOW VIX is concerned I can’t

imagine VIX being any lower under any circumstances other than Holiday … this

is bad, but the algorithm handles it and keeps us out of trouble, no matter the pair

… into the London Fix, and yes, more dumb ass corporations & institutions sure

are getting “fixed” alright … “I simply can’t comprehend just how fucking stupid

these people are for trusting banks”!


During the European session, only 1 algorithm buy signal in GBPUSD

… TURNKEY PAMM UP SLIGHTLY.


Some very slight upward bias since the London FIX, but volumes and trade action

are about as bad as it can get and still be open … this is truly pathetic, and I want

no part of this clusterfark in a New York afternoon … hopefully, tomorrow’s end

of month / end of Q2 rebalancing will produce something better in Cable than the

garbage we’ve seen the last 3 trading days … so we’ll see.


Over in crypto some light upwards moves in BTC & ETH, but for the most part

the complex is dead … alt-coin trading conditions are horrible … no trades today

in anything for “The Syndicate”.


… outta here … “the future’s so “GOLD”-en bright I need sunglasses”! 

… Onward & Upward!! 


-vegas




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