OK, 5+ hours into this clusterfark of “Howdy Doody”, where not even the
Chuckleheads cared what happened last night, and apparently the checks from
Mrs. Watanabe & Gal Pals hasn’t cleared yet so they aren’t playing, and at least
so far this Christmas week, nobody gives a shit about anything … it’s pretty sad
when m15 candlesticks can’t even go 3 or 4 PIPS, and an hour before “Stonks”
open USDJPY doesn’t even have a 30 PIP range for the entire stinkin’ day some
15+ hours into this hot mess of nothingness … sure, things can change, but for
now this is a joke … USDJPY hasn’t moved 7 PIPS in the last 3 ½ hours, and it
isn’t getting better it’s getting worse … “Stonks” haven’t even opened yet, and
USDJPY has a DOUBLE REVERSAL DAY going on a very small range … and
unless the “Spoos” see something and move, this day is gonna be a
complete waste.
HOUSTON, WE GOT A PROBLEM!
It’s pretty simple how all of this is played out the vast majority of trading days
… it starts in Asia where the ChiComs decide where any of this shit goes … their
big players start the ball rolling, followed quickly by the coattail riders and we get
some movement … usually decent and sometimes bat shit crazy [BSC] … and it
comes at all hours of the Asian session, not just at certain time spots … then
that’s it, cuz Europe is a joke for most markets unless there’s overriding news
that begets some action … most days it’s FRICKIN’ ZERO [hello today!] … then
New York comes in, and a few hours later the NYSE opens AND NOW CARDS
ARE PLAYED … there ya go, made it easy for everyone … you’re welcome!
And even if the ranges get put in for FX pairs, it makes for shit trading conditions
most days, cuz if nothing is moving in Europe, it’ll be the “Spoos” leading the
way forward … and what ends up happening is what has transpired today, which
is horrendous USDJPY trading conditions and range ‘till New York shows up, and
then it’s straight up with literally ZERO corrective activity until the “Spoos” are
well into the NYSE session … new high or low for FX pairs at the London Fix most
days, where corporates get screwed royally but don’t seem to care, and then it’s
back to sleep for pairs like USDJPY cuz the day is most likely over.
I said in an earlier blog post, it’s either gonna be the “Spoos” [SP500] or USDJPY
leading the way for the latest market mantra of “risk on / risk off”, that somehow
dominates the trading investment world these days … and so, it’s time to bifurcate
the trading … I’m gonna be looking at USDJPY first when Europe opens, and if
there’s halfway decent trading action I’ll go with it via the algorithm signals … if
not, no later than about 7 AM EST I’m gonna switch over to trading the “Spoos”
… I don’t like to have to do this, but I got no choice when USDJPY doesn’t do
Mr. Jack Squat in terms of trading action up/down … the “Spoos” most days have
a decent spread at Turnkey, just a fraction of an index point above futures
bid/offer, so that isn’t a problem … currently we’re in month 1 out of 3 getting free
commissions, so with a spread of 0.2 or 0.3 index points, and a market that
moves most days, if USDJPY isn’t gonna do shit, I’m not gonna sit here and
watch paint dry the rest of the day for the PAMM … and if the “Spoos” go straight
up/down then so be it … how’s that worse than watching USDJPY not do a
“Hoover Dam” thing hour after hour going up a PIP then down a PIP
“ad infiniteum nauseum? … if things get wild in “Stock Bellies”, that most likely
means USDJPY will be moving cuz there’s “bigly & yuge” trading action to the
downside, and USDJPY will react in some fashion … quite frankly, I don’t care
HOW it reacts … JUST F-ING REACT! … and for the vast majority of the time, it
does, so there’s the saving grace if things get BSC in the “Spoos” and they
become untradeable.
And that brings us to today, where USDJPY was left for D.E.A.D. until New York
showed up and with no action to speak of except institutional order flow which
the scumbag LP bank’s can mug and rape at will by front running it … and even
with that, the trading action up/down is horrific … OK, time to switch to the
“Spoos”, and for the most part activity has been OK.
I didn’t make the switch until after the London Fix, so I’m late to the “Spoos”
party today … no matter, I’ll be there from now on … this to me seems a better
way to trade “risk on / risk off” [RORO], cuz the vast majority of days past the
London FIX sees USDJPY not do shit for movement, while the “Spoos” get all
of the attention and action … why throw it away waiting for Yen to move that
usually doesn’t once New York gets going?
One algorithm buy signal today in SP500 for the TURNKEY PAMM … UP
FRACTIONALLY … fills only “average”, as I felt they could have done a better
job, so not that great but not utterly horrible either … now here in the early
New York afternoon, it’s been a 2 ½ hour straight up move, right up to the 100
hour MA, with only one corrective break worth anything … we’ll see if that
resistance holds or not as the afternoon progresses … earlier, scalping action
was far superior and we missed that waiting for the stupid Yen to frickin’ move,
which of course it didn’t … oh well one day whaddaya gonna do? … live & learn
… IMHO though, this is the best & most efficient way to handle whatever RORO
action markets want to throw at us … onto tomorrow!
Over in crypto, who put heavy doses of valium in the ETH drinking water?
… 9th trading day in a row inside the range from December 13th, with the daily
highs getting lower and the daily lows getting higher … a classic “pennant”
formation, and the move out of it when it comes should be significant up or down
… question is, when is that? … until then, it’s “Deadsville” … no trades in crypto
today for “The Syndicate” … there isn’t anything to do … onto tomorrow and
we’ll see what happens.
Overall, from a trading plan perspective that’s outside the algorithm, we need a
“Plan B” .. specifically so that we don’t get caught in bullshit chop ranges that do
nothing over the entire course of a trading day … I really hate sitting here and
watching grass grow, so I think making a day-to-day decision about action in
either USDJPY or the “Spoos” makes logical sense, and will give us what I want
to see … as long as the bid/offer spread holds, the “Spoos” are a good market
most days to trade … As for crypto, simply one of those time periods where the
market consolidates & rests before the next SHTF moment … patience & discipline
is what’s required here, cuz there’s no point in giving anything back to the crypto
jackals … we’re making to good an amount of money overall, and not giving
ANYTHING back is part of the game plan.
… outta here … “The future’s so bright I need sunglasses!! 😎
… Onward & Upward!!
-vegas
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