Now that a bunch of high brow bankers have taken over 10 years to do
something about abuses in the precious metals market, we can now clearly see
that only the deck chairs have been rearranged for show … what a crock! … back
to the “Comex Con Game” in all its rotten glory!
Today sees retail sales at 08:30 EST [New York] on the altar of trading
manipulation … last few reports saw moves up before inflation figures reported,
while today sees sell stops hit before the retail sales numbers … all for the
benefit of the scumbag bullion banks who’ve been selling to specs the last 3
weeks straight … Bingo!, Bango!, Boom!, and half of that is gone in less than a
couple of hours as stops get raped … and who do you think bought your sell
stop?
FX so pathetic this Friday, it’s hard to even know if the idiotic FX market is even
open … 15 hours into the day and EURUSD doesn’t even have a 30 PIP range
… Cable & GBPJPY attempting to move somewhat better, but it’s a full fledged
mess as well … this is truly pathetic trading action, and when conditions get to
the point they are at now, there isn’t anything you can do but wait … the scalping
algo is designed to give trading signals no matter how LOW VIX goes … but at a
certain level, they become meaningless, collapsing unto themselves in a pile of
worthless mathematics where measurements and their trading implications are
absurd … it’s not the algo’s fault, it’s the markets run by the manipulators.
One look at today’s “markets” [cough, bullshit, cough], and if you ever need
proof positive of the manipulators desire for the “Loser Formation” as their
preferred method to destroy you, today is it! … the insanity that is “Stock
Bellies”, FX is dead btw [especially EURUSD], and gold all point to “speed of
light … crickets”, and if you got caught in any of that bullshit, there’s no way to
make any of it back cuz after it’s over they crush IVIX into dust! … and like I said
yesterday, it’s reversals on top of reversals “ad infinitum nauseum”, where the
only real purpose is to drive stops to be hit from the specs.
However, as I’ve pointed out in previous blog posts, 1) you have to do your
homework when it comes to scalping, and 2) you should scalp an “optimal”
market or markets and stay there and not play “Whack-A-Mole” with other markets
unless you absolutely have to when conditions go “tapioca” … there are silver
linings to the crap we’re witnessing now, cuz any Chimp can do well when markets
are volatile and moving, but when shit slows down to a crawl or worse, that’s
where true traders earn their stripes and money … so in a sense we’re fortunate
for conditions we’re seeing in GBPUSD, GBPJPY, EURUSD, DOW30, & XAUUSD
… and from that list, after analysis last week and this week, it’s clear to me which
market I’m gonna plop down in and trade … but remember, it’s all numbers on a
screen, nothing more nothing less … we trade “widgets”, who cares? … and after
analyzing a whole host of critical factors, Cable [GBPUSD] is the clear scalper
winner day-in, day-out … that doesn’t mean it’s perfect cuz nothing is, but it’s
heads above the other markets on a consistent basis over time in almost every
metric … and if conditions improve, which they will, so will profits in the PAMM
… since I developed the scalper algo, it’s been a laborious & sometimes tedious
process in real time ferreting out the intricacies of how markets really behave and
whether or not scalping makes sense in them … this is something that cannot be
done by simply looking at a chart from the past and fitting your ideas into it, it
has to be done in real time to be effective … well, that work has been done now
… come Monday say “Welcome” to our new home in GBPUSD, where while it ain’t
“The Widow Maker” any longer, it ain’t chopped liver either … thank you other
markets for showing your true colors during crap trading conditions, as I couldn’t
have asked for shittier trading from you over these last 2 weeks … it’s been a
true blessing for us!
Then there’s crypto … I knew when BTC crashed back in May, crypto [especially
the alt-coins] would suffer … I didn’t foresee it being this bad though … truly
ugly conditions … it needs a little more time to consolidate, back & fill, and at
some point the brush fire will start again … I’ll be there when it does for
“The Syndicate”.
No trading in anything today … come Monday, I’ll be focusing on Cable only, from
the European open [maybe a hair earlier] to the London Fix at 11:00 EST
[New York] … that will give us 8 - 9 hours of scalping which should … should
provide ample opportunity … bring it on, I’m ready.
… outta here … “the future’s so “GOLD”-en bright I need sunglasses”! 😎
… Onward & Upward!!
-vegas
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