Can it be worse today? … “YUP!, sure can”! … and away we go into mindless
chop, skimpy ranges, & bank LP scumbaggery … everything you’ve come to know
& love about self inflicted pain, right in one handy place! … I’ve run out of
adjectives to describe how bad this is. But, it’s always darkest right before dawn,
so I plug on, currently watching paint dry wondering what gets any of this shit to
move … quite frankly, FX including the crosses is starting to smell like 10 day old
fish sitting on the porch in sunshine … not a pretty picture at all, especially in the
European session … not that the Asian session is any great deal, cuz the
scumbag LP’s blow the spreads out … “oh, you wanna play now, OK pay up”!
OK, we still have options, although they’re limited … the “Spoos” at Turnkey are
still OK, and after some recent price action to the downside, they’re looking more
trade worthy … today’s retail sales report was a sigma miss to the upside, and
under normal “Spoos” rules the last few years, “Stock Bellies” should be going
and hitting a new ATH … but not now … and the “red flag” warnings go up the
flagpole … down around the 4447 level, which not incidentally are the last 2 trading
day low areas, sits the 50 day SMA, usually a harbinger of strong support from
which to take off and make higher highs going forward … we aren’t that far away
from that level now [4459 as I write], and if SHTF later today and we start seeing
water leaking from the “Spoos” boat, it could get ugly … meanwhile, I don’t know
whether to laugh or cry watching these AUD crosses diddle fart around in very
tight ranges, especially GBPAUD … oh, and our favorite pet yellow rock is on sale
today … gold down over $50 at one point … forget Basel 3, it’s the same old
“Comex Con Game” at work just like always.
Well, we haven’t had much scumbaggery around the “London Fix” the last couple
of days, so today sees that made up for quite nicely … GBPAUD can’t do shit all
day, goes new high, new low, new high, new low, and then new high at the “Fix”,
all inside a 40-ish PIP pile of bullshit with half the time the spread blown out
… meanwhile, “Spoos” touching the 4447 level right at the “Fix”, so is this the time
for the reversal in “Stonks” we so often see as Europe closes? … and of course,
after blowing out buy stops in GBPAUD, it’s straight down off the “fix” … “yea,
somebody got “fixed” alright”.
Very disappointing trading day from a “trading action” perspective … more of the
“speed of light … crickets” bullshit we’ve seen so often … it’s either lights out in
one direction or the other, or it’s completely dead, and not much else in between
… Asia sets the “tone”, Europe not even worth mentioning it’s so piss poor, and
then everybody waits to see what the 10 YR. Treasury yield does once the U.S.
starts around 7 AM EST, and then feeds off of what the “Spoos” do … and today
sees the “Spoos” go right down to the 50 Day SMA at the “fix”, and I asked the
question earlier if they’d bounce it once Europe closed … Yup, straight up the
frickin’ wall with nothing more than a couple of index points of break before
climbing higher still … same old SP500 shit, different day, where it’s straight down
or straight up … where the hell is the frickin’ TRADING!!”? … quite frankly, these
shit conditions are a direct manifestation of the lack of specs in the market … it’s
simply corporate or institutional order flow and that’s it, and when that’s over and
the scumbag banks have front run the orders, it dies and goes into the Loser
Formation cuz there isn’t anything there … literally, the banks can’t screw you if
you’re not playing! … and I’ll say it again cuz it’s worth repeating to those who
“don’t get it” … “the markets you used to know, the ones that went up/down with
abandon, setting off stops and generally going bat shit crazy [BSC] aren’t here
any more … they’re DEAD … crypto, specifically BTC and some of the hot
alt-coins are where “hot money” the world over is trading … BTC moves more in
30 minutes than anything FX does in a MONTH! … stick your head in the sand if
you wish and remain in denial, but it doesn’t matter to those who trade crypto,
you’re the loser”!
Today sees the worst cross trading I’ve ever seen … the most volatile cross with
a 2+ PIP spread locked in a bullshit 40 PIP range, inside a “Flying Wedge of
Death” [FWD] that shows no mercy … just terrible … and the “Spoos” didn’t trade
either … so I’ve got SP500, GBPAUD, and EURAUD, which incidentally took off
higher right after the retail sales report and never looked back to give us one
stinkin’ algorithm signal to buy … and to this list, I’m gonna have to add back
Cable [GBPUSD] simply cuz it does give us tradeable signals most days … NOT
EVERY DAY, but most, so when these other pairs go straight up/down, at least if I
move over to Cable there is usually something there for us to participate in and
not have to sit and watch paint dry … so Cable is back for the PAMM, and from
what I’ve seen today, not a moment to soon!
No trades today in anything … with the addition back of Cable, I should be able to
find algo signals in at least one of these markets … and yes, the “Spoos” did turn
around right at the “fix”, giving the daily manipulation its due … straight up of
course.
… outta here early before my head explodes [again] … “the future looks so bright,
I need sunglasses”! 😎… Onward & Upward!!
-vegas
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