If I were Peter Doocy, the Fox reporter whom “Taliban Joe” made his infamous
comments about, I’d tell him to take his non apology apology and stick it up his
ass! … “Taliban Joe” getting a little “prickly” over his failed presidency, and the
fact that he’s a total screwup!
And, as I laid out yesterday, when the “Plunge Protection Team” [PPT] eventually
shows up, there’s gonna be Hell to pay for the shorts or those who sold into the
panic … of course, it would help greatly if certain brokerage houses
[Hello Turnkey!] kept spreads in line, but why do that when the stealin’ is easy?
… and as I also told you yesterday, the biggest daily rallies of all time occur
almost exclusively in “bear markets” … that massive “pump” yesterday a
classic manipulative favorite to punish … and what may I ask, is the moral
imperative for government to intervene in so called “free” markets? … cuz if
you need any proof of “scumbaggery & fuckery” by government,
yesterday was it!
Into the New York afternoon, and you’d think that if the “Spoos” had a 130 index
point range, where almost all of it is DOWN, that “risk on / risk off” [RORO] pairs
like GBPJPY could do better than the “not even pathetic range of less than 80
PIPS for the entire day” horseshit we see today … oh but wait, it gets better, as
since my eyes are locked on the screen from the early AM, we can’t even go ± a
hair over 20 PIPS in either direction of a median around 153.55 … up a little, down
a little, oh wait never mind! … now, I understand Cable / Yen has been down 9 out
of the last 10 trading days, and today is a toss-up “doji” on the daily candlestick
… and so, upward momentum is gonna be fleeting until some kind of bottom has
been put in for the “Spoos”, without the PPT manipulation … and given that today
is the start of the January FED meeting, and tomorrow we get another interest rate
decision, I can understand traders being exceedingly cautious about FED
aggressiveness … even if rates don’t rise as fast as many think, that still doesn’t
leave much room for Yen appreciation [USDJPY goes lower], so with the FED
tomorrow and the BOE on Thursday, February 3, Cable today acting like the sick
puppy it occasionally emulates, sees no worthwhile range either … and BINGO!,
we end up with complete horseshit for a GBPJPY market!
And from a 20 something PIP move from a median price it’s been at all frickin’
day, there isn’t much for the trading algorithm to do but look at me in horror and
ask, “umm, hey boss, are we in the right market?” … and I look back and say,
“everybody loves a little ass, nobody wants a smart ass, and turn my eyes away!”
… and there you have it! … if “Ugly Betty” were an FX pair, GBPJPY wins today
… and like I said, all with the “Spoos” going frickin’ nuts … and of course, we
can’t trade the “Spoos” at Turnkey cuz spread conditions are terrible, right along
with criminal slippage cuz they can … simply an absolute joke having the nerve
to call this a “market” … Vito Corleone brokerage would make a better market than
these Idiots.
And while the timing coming into the GBPJPY trade isn’t the best, it’s not like
we got tons of options either … simply put, we don’t … I do think this is the place
to be for RORO, and it just so happens we are right in front of a FED meeting
… shit happens, whaddaya gonna do? … tomorrow, especially early, we still
could get algo signals of course, but we need to see much better price & VIX
action than what passed for a “market” today, cuz without it the algo parameters
& metrics sit on top of each other and are meaningless.
If you’re looking at yesterday’s big turnaround in “Stonks”, as some kind of
major reversal day, and that means buy with both hands cuz BTFD is back on
baby, I’d put that thought to bed for a while … this is a valuation / bubble problem
exacerbated by high and persistent inflation that isn’t gonna go away, and that’s
a big problem for the NASDAQ honey pots that see all of the money inflows
… throw in the clueless leadership of “Taliban Joe”, Spicoli, & Grandma Yellen,
and the “Three Stooges” of government only make the problem worse, not better
… and when clueless POLS feel trapped, what do they do? … that’s right, they
find a reason to start a WAR somewhere … and nobody knows where that ends
up, but it certainly won’t be good … today’s “Stock Bellies” not giving many a
reason for hope & cheer, as they’ve been going lower since last night.
NO trades for anything today, GBPJPY simply pathetic in terms of scope & range
[so far], and if towards the end of the day I do something, I’ll do an update to the
blog after the NYSE close … over in crypto, that space isn’t out of shark infested
waters either … I’ll be back into ADA tomorrow for “The Syndicate”.
… outta here … “The future’s so bright I need sunglasses”!! 😎😎
… Onward & Upward!!
-vegas
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