How many tens, if not hundreds, of billions of dollars got thrown down the rat hole
by the “Plunge Protection Team” [PPT] last week artificially supporting the U.S.
stock market from a crash? … can you say “FED policy error?” … every single
day they were in the U.S. market, and for who and for what purpose? … it sure as
hell ain’t for you & me … it’s for global Elitists, like Buffet, Gates, Bezos, etc., with
the primary purpose to prop up the corporate buybacks that make Boards of
Directors “uber rich” via stock options … by flooding the financial system with
oceans of newly printed “Benji’s”, the FED manipulates interest rates so the
Ponzi scheme can continue and “zombie” companies & financial institutions like
Squid, JPM to name a few, can continue to cut their public stock float, thus
insuring rising EPS without doing a “Hoover Dam” thing … and then the circle of
corruption continues when said banks & companies kick some of it back into
political PAC’s, so that Assclowns like “Taliban Joe” got free money to throw
around … “so somebody tell me, what does J.P. Morgan or Vampire Squid
PRODUCE in the U.S., besides financial bullshit that grows higher every frickin’
year? … what benefit do they add to society? … not a fucking thing is what they
add, and bloodsucker banks like these are a big part of the problem … they are
nothing but parasites.
This in a nutshell is what’s VERY WRONG with the U.S. financial system
… fortunately or unfortunately, depending on your viewpoint, this shell game is
about ready to run into some serious math problems … fact is, this endless
borrowing & spending of trillions is gonna end in disaster, and by my back of the
envelope math, there’s no way it can continue for more than about 5 years at
present pace … we’re already at the point where you could CONFISCATE the
entire fortune of ALL billionaires, and it wouldn’t run the U.S. Banana Republic
machine for more than about a week! … what’s gonna end it? … IMHO, it’s when
both the ChiComs & Ruskies back their respective currencies with gold, AND
crude oil is priced in something other than dollars … when this happens, IT’S
O.V.E.R., and the U.S. becomes Venezuela overnight.
From a trading perspective, I’ve tried on numerous occasions to trade “Stock
Bellies” at Turnkey for the PAMM, to take advantage of the “88/6/6” paradigm,
but sadly thieving “market makers” parading as “liquidity providers'' [LP’s]
always show up with 1) “bait & switch” bid/offer spreads, 2) horrendous slippage
with off market fills that are pure bullshit, or 3) BOTH … thieves can’t help
themselves, they are who they are … what frosts my cupcake is that Turnkey
NEVER does anything about it, thus telling me by default they receive part of the
“rip off” as some kind of brokerage house rebate from the bank or HFT … not
illegal in most, if not all, offshore jurisdictions, but sleazy as hell IMHO … but
as I’ve said a million times, they do what doesn’t get them indicted … and most
likely they route the vast majority of client orders to one or maybe two
banks / HFT’s, wherever the thieving is the greatest for the highest return … this
is the state of Turnkey’s CFD market offerings, and quite frankly none of them
are worth shit.
Then there’s FX, where doing a “180” simply cuz the volumes are much, much
higher and the markets tighter, the LP’s simply can’t get away with thieving on
the scale they get away with in CFD’s … CFD’s cost customers dollars, FX costs
customers pennies … now, nobody expects banks or HFT’s to provide a service
for free, and under circumstances that are usually normal for FX, even with
slightly higher VIX on some days, getting “clipped” a tenth or two on a fill isn’t
going to be the determining factor in whether or not the trade was profitable
… you can’t say the same in CFD’s, where the vast majority of the muggings,
robberies, & rapes of accounts take place … and don’t get me wrong, Turnkey
isn’t the only place where this is a very big problem, cuz there’s plenty of houses
where CFD’s are a complete rip off, and even worse than Turnkey … on the other
hand, you can’t generalize about the entire CFD space, cuz there are some decent
NO KYC brokerage houses that have pretty decent CFD’s … the Mrs. likes
“Simple FX’, where there’s NO KYC, no commissions, very fast latency on fills,
and generally is happy with the above average bid/offer spread conditions
… when the NYSE is “open”, the “Spoos” spread is 0.3 index points, the DOW30
is 2 index points, and the NDX100 is 0.7 index points … crude oil is 3 cents, gold
is right around $0.20 give or take a penny or two, and they have stock CFD’s as
well on the U.S. market’s most volatile stocks like Tesla [TSLA], Amazon [AMZN],
etc. … crypto here is a joke, so you wouldn’t come here to trade crypto, and FX is
a few tenths of a PIP higher across pairs versus Turnkey with commissions, so
if you were 100% an FX trader, this isn’t the place either, as Turnkey is about as
good as it gets in FX, all things considered … but for world “Stock Bellies”,
crude oil [Brent & WTI], & gold, I don’t think you can find much better, that’s
NO KYC, no commissions and from what I’ve seen very minimal slippage if any.
What I find amazing are two things … 1) the U.S. Dollar hasn’t collapsed [yet],
and 2) Turnkey can be sooooo “Hoover Dam” good, if not the very best, in FX,
and soooooo piss poor in CFD’s that the difference is a study in black & white
… what keeps the system afloat is the fact that all of the major central banks have
the CNTRL-P machine running 24/7/365, but again the FED is making noise right
now bucking the trend of the others … will it cave or will it let the “bubbles” pop?
… I don’t think we have long to wait to get the answer.
Directly below, the 20 Day Range MA of selected markets.
Priscilla The Trading Gorilla [PTTG] continues to be sick with some kind of flu
virus … she’s getting better, but it’s a slow process … whether she’s back or
not, next week starts the results, so I’m giving her this week to get back to
trading … if she can’t make it, we’ll pick it up when she returns to good health.
Onto the week … outta here … “The future’s so bright I need sunglasses”!! 😎😎
… Onward & Upward!!
-vegas
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