Gold bottoms are never painless, and this one won’t be any different … short term,
the bottom comes when Mrs. Watanabe & Gal Pals, along with the other
“Chuckleheads” in the Asian session, open gold lower, puke their guts out to a fast
& violent low, and then the rally starts in earnest … I find all of this chatter about
higher interest rates laughable, simply cuz the FED will be given a reason not to
raise them … it’s called the next crisis on the drawing board on our way to NIRP
[negative interest rate policy] by Morons like “Taliban Joe” … when does the next
lock down or next pandemic start?
Has any central bank stopped the CNTRL-P machine? … Nope … money printing
continues unabated, over $1 trillion per year with no end in sight … I find it
hilarious the gold trade has wet “big girl panties” with inflation running well over
7% per year, and 10 YR. yields below 1.60% … talk about “easy money”, this is it
… if yields rose to the level of inflation, the U.S. government would collapse cuz
there would be nobody to buy the worthless fiat cow chips once the FED stopped
buying bonds or notes … “hey “Taliban Joe”, can you say QUADRILLIONS”?
… and where does gold fit into that? … it sure ain’t lower! … but tell all of this to
the banker crowd mauling gold the last 7 trading days, and you should realize
at once it’s the “Comex Con Game” at work, and that’s how this market works
… gold goes higher when the longs puke, shorts get tired, and most importantly,
banks have covered their shorts and absorbed longs from trader selling … NOW,
THEY WILL BID IT HIGHER!
So where’s the bottom? … dunno, don’t care! … just like other crypto pairs [cuz
after all gold IS A QUASI CRYPTO PAIR], I’m a “trader”, not a “dater” … I’ll leave it
to the genius guru’s who don’t exist, to predict price direction with certainty, but
who only give “advice” and never trade for themselves … trading is about
“buy fuel” and “sell fuel”, and where the “whales” are and what they’re doing,
nothing else!
I’m watching gold for over 8+ hours today, and this stuff can’t rally to save its life
… then once the London /fix is over, BOOM! … and quite frankly, I don’t want to
be taking signals within 60 - 90 minutes of gold closing for the day but still being
open to the purview of criminal outfits like JPM … I don’t view that as being
constructive to making consistent money … gold, when viewed and traded like it’s
a crypto pair, has a unique “fingerprint” when modeled inside the trading algorithm
… and just like other crypto pairs that are volatile, you take what you can get from
the market when it’s offering it to you, and then DON’T LOOK BACK and move
onto the next signal … gold for its part today not acting like it wants to bottom
just yet, and rallies are getting sold aggressively … amazing simply cuz the money
printing never stops, which only means manipulation on the sell side is the impetus
for lower prices … and then as we’ve seen countless times, the “Comex Con
Game” kicks in with full force … and that rally right after the London Fix, gets sold
once the “buy fuel” from shorts stops, and price is within pennies of where it was
when it started … nothing new here, and what we need is the Asian session to
open and go lower FIRST, and then we’ll see the bottom and market mood will
change rather abruptly.
Only one algorithm buy signal in gold today, for the entire time I was tracking it
… unreal … in any event, TURNKEY PAMM UP SLIGHTLY … gold trades in Europe
tomorrow, but I would still expect the range to be “light”, with action coming to
somewhat of a standstill right after the sun comes up in New York
… Thanksgiving tomorrow so U.S. is completely closed … we’ll see what
happens and respond in kind.
Over in crypto land, a sub par day in ETH [so far] so not much to do there
… “The Syndicate” UP APPROXIMATELY 0.2% … just grinding scalps in ETH,
that’s all … not a very active day … onto turkey day!
… outta here … “the future’s so bright, I need sunglasses! 😎
… Onward & Upward!!
-vegas
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