And so it goes in the word of FX, as the entire world [except the U.S.] takes the
day off to celebrate Communism & Socialism, the twin Evils directly responsible
for hundreds of millions of deaths in the 20th Century … anything for a day off I
guess … and that means FX is crawling and VIX pitiful … expected this really,
but you never really know.
Not much anybody is gonna glean from today’s sick action, although I will note
the U.S. 10 YR Treasury is up at 2.97%, and a breach of the 3% level to the upside
would be considered somewhat of a big deal from a technical perspective and
could encourage some dollar buying … we’ll see, but I’m doubtful anything can
be maintained before the FED on Wednesday … of note, “Stock Bellies” & gold
looking especially weak, and I got to wonder what the Lounge Lizards will be
thinking if the “Spoos” go sub 4000 before they even get to their first 50 bps rate
hike? … where’s the floor Spicoli? … “everything is in the best of hands isn’t it”?
Past the London Fix now, and when it takes USDJPY 30 - 40+ minutes to go 8 PIPS,
you pretty much know the entire world is at the “Communist Manifesto Barbecue”
somewhere, and that trading has taken a back seat on this quasi Holiday for
malcontents … about the only thing trading is crude oil [almost a $5 range today
ho hum!] … and speaking of which, today sees Turnkey with a 2 cent spread
… what level of “scumbaggery & fuckery” is this? … quite frankly, I don’t trust
the LP’s to maintain this, cuz in my mind it’s a trap … take a position with a 2
cent spread, and watch seconds later the spread at 7 … oh you know, “market
conditions” and all that shit … I DON’T TRUST ‘EM! … let it stay here for a few
days and let’s see, but I will almost guarantee that isn’t gonna happen … OPEC+
meets later this week, so there’s that as well, right along with the FED.
No trades today in anything … outta here before my brain freezes … “The future’s
so bright I need sunglasses”!! 😎😎 … Onward & Upward!!
-vegas
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