The Chicoms engineering a total economic collapse via COVID lockdowns, and
for my money it’s got nothing to do with COVD, and everything to do with buying
raw commodities cheaper, especially oil … meanwhile the tone deaf Morons that
run the FED, barely can conceal their glee as they “blah blah, yada yada” rate
hike hysteria … just 189 rate hikes to go, as they attempt to manage the world’s
largest financial bubble [”Stonks”] they created for global Elitists … now that it’s
about to pop, it’s the average American that will feel the pain … since 1913,
fucking the middle class every chance they get.
Meanwhile, “Asia flies, the rest of the world dies” … Europe practically worthless
as a market … gold goes $20+ in the Asian session, but can’t move $3 from a
median price 4 hours ago … and in an instant, VIX goes crashing and is barely
readable … the m1 average range as New York comes into play, about 70 cents,
and given Turnkey’s spread + usual slippage, you're lucky to get a 1:1 ratio of
movement to cost to trade … this sucks … and crude? … spread hanging
around 4, which is unacceptable, but not unusual outside of NYMEX normal U.S.
trading hours … the ChiCom’s actions today already knocking crude lower by
about $5, so not sure if there’s anything here worth trading without getting
chopped to pieces … we’ll see.
We haven’t even gotten to New York trading, and gold has about a $30 range to
the downside … an approximate $70 drop in less than 5 trading days, where the
sell pressure has been relentless, right along with the news flow … the next
“crisis” is being engineered right before your very eyes!
The rapidity and viciousness of the m1 red spikes lower has been a hallmark
feature [not a bug] of the move lower, as traders got “Zip, Zilch, Nada, & Adios”
time to either attempt to hang on or simply bail … and when rats jump ship, he
who jumps first gets to panic again later, while the others get their sell stops filed
at the bottom of the red m1 … and so, here we go again in panic driven markets
as traders in EVERYTHING are scared shitless … gold now with a $40+ range to
the downside, and things are turning ugly quickly … and if you have any sense
or brains, you just walk away from this train wreck right now … at what level
lower does the abyss stop? … I dunno, and I ain’t finding out!
You either sell it in the hole and pray, or you buy it and then watch your stop get
filled nowhere near where you expected … another completely butt ugly day in
gold, where from the long side it’s untradeable, except for the smallest of profit
… with China collapsing into a literal depression, and the FED going full retard
on rate increases [they say] … it is a very poisonous cocktail.
Meanwhile, shock of all shocks, Turnkey’s oil CFD stays with a 3 cent spread
pretty much all day, and in the New York session ‘til about Noon, WTI has about
a $2.50 range of both up/down movement with plenty of trading action … yea, I’m
surprised, figuring the Goons who are the LP’s today would blow the spread out
… they didn’t, and it’s led to a pretty decent trading range all things considered
… it was a slightly larger range at SIMPLE FX, simply cuz their crude oil CFD
tracks front month futures and Turnkey’s is a blend of expiration months [I think,
nobody there knows!] … with what’s currently happening in world developments,
gold is gonna have a tough time sustaining rallies, and could see plenty of low
range bullshit ranges extending over hours [like today] … on the other hand, crude
is a much different animal and will [all other things being equal] “trade” better
than gold … I will also note, the minor change I made to the trading algorithm
performed perfectly today, giving us seconds to as much as 1 minute lead time
before “popping” higher … that was the purpose of the adjustment … I dropped
some crypto into the wife’s account at Turnkey early today, and she took the
signals from WTI Crude Oil … she still prefers SIMPLE FX, but since it was my
crypto, she figured what’s to lose here if he’s nuts? [loved ones are great aren’t
they?]
Going forward, China and their lockdowns are the main drivers in crude right now
cuz of demand destruction … therefore the Asian session has the potential to be
wild and explosive in crude via any COVID related lockdown news … I’m gonna try
and hang with the Asian session for a while, but a lot depends on the spread from
Turnkey … get stupid, and I’ll go to bed and pick crude up around 4 - 5 AM EST
… the signals here are excellent … so my first priority tomorrow will be crude,
then gold … let’s see what happens.
No trades today in anything … gold a train wreck, and I guided the Mrs. through
the trading algo in crude oil … if you can get the decent spread of 3 cents or lower,
there isn’t any other market that can compete with crude for scalping and/or day
trading … not even close … and then at 1:45 PM EST, the spread in WTI goes to
7 cents at Turnkey … no reason for it! … these people are just SHAMELESS!
… onto tomorrow.
… outta here … “The future’s so bright I need sunglasses”!! 😎😎
… Onward & Upward!!
-vegas
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