A uniquely pathetic and embarrassing speech by “Taliban Joe” in Buffalo,
New York … everything is political and everything revolves around him
… message here … “I don’t care if your family member got killed or not, I’m
here to remind you of the need to keep me in power, cuz without me YOU’RE
NOTHING”! … this guy is the biggest sack of lying shit since Clinton & LBJ
… no wonder the country is in heap big trouble and getting worse by the day.
Why should “markets” [cough, bullshit, cough] be any different than POLS?
… today’s excursion into FX “scumbaggery & fuckery” starts the European day
with a sell stop hunt by scumbag bank LP’s, quickly followed by a “never mind”
back up … 5+ hours in, and we can’t go 20 PIPS in EURUSD … and just like
Biden, embarrassingly pathetic … who’s surprised?
The criminal, money laundering NYSE open in a few minutes, and what level of
trading Hell have I wandered into? … FX so far, is so sick it may need to go to 6
decimal pricing just to see it move at all … did EURUSD take a valium or
something? … this is laughable!
I’ve stated before, we’re ALL “SPOOS” TRADERS NOW … nothing moves first
but for the SP500 … if it ain’t movin’, ain’t nothing else movin’, and when it moves
YEN moves and to some extent both EUR & GBP move as well … and the way the
world trades today, unless the ChiComs do something to spook animal spirits
either up or down, the Asian session will be quiet … Europe is a frickin’ joke and
gets worse each passing day, with more and more days where not a “Hoover
Dam” thing is either decided or traded upon, thus setting the stage for New York
when the sun comes up … today no exception … take Europe, the “London Fix”,
and all of the rest of the bullshit before 6 AM EST and it means NADA! … all that
matters is what the “Spoos” do, cuz they’re the de facto premium
“risk on / risk off” [RORO] market for the world.
And for the dollar majors, it means “lightning .. crickets” and not much else
… today a perfect example, cuz after the NYSE opened, it’s straight down, except
today in EURUSD you did get one rally that could have been sold … other than
that, it’s “the pain trade” almost every single day … well, not so with the YEN
crosses, cuz with the brand new FED “Save the Yen from collapse” rescue
operation that’s now in effect, expect YEN crosses to be active trading pairs right
up to the NYSE close at 4 PM EST … screw the “London Fix”, it’s meaningless,
right along with Europe.
Taking a hard look at both EURJPY & GBPJPY, they both have awesome 20 Day
Range MA’s [due to Yen], and our tradability ratio is also favorable with EURJPY
today at about 4 : 1, and GBPJPY at about 3 : 1 … I’m under no illusion Turnkey is
gonna do us any favors in either pair, and I’m hoping the mugging isn’t too bad or
severe, cuz quite frankly EURUSD is driving me nuts! … I don’t see any other
choice but to move PAMM trading over to either one, simply cuz the moves,
ranges, and VIX are pretty “Hoover Dam” good … I realize scalping either one is
not the optimum way to trade, but by the same token I’m not gonna hang onto
anything the whole day and simply pray shit works out … the trading algorithm is
excellent in both, and since VIX is there for the algo to work, then by golly let’s
let it work! … I’ve already put Turnkey on notice, that I'm not gonna put up with
CFD bullshit slippage in either of these pairs, or else there’s gonna be some
serious noise … I’m not under any illusion they give 2 rat fucks, but at least they
know where I’m coming from and what to expect if I get bent over … let’s hope it
doesn’t come to that … and while the algorithm isn’t perfect, nothing in trading is,
but it’s as “good as it gets” when VIX is elevated like it is now … we don’t need
200 or 300 PIP ranges, but they’re welcome to show up … all we need from these
crosses is about 60+ PIPS in my average day of about 9 - 10 hours of trading … we
get that or above and we’ll be backing the Brinks truck up … if we don’t, it will be
a lot tougher cuz without VIX, we got NADA! … no trades today, onto tomorrow
and the crosses.
Before I go today, I will simply add that I’m a little surprised going into May [now
in the middle of the month], that FX ranges have stayed very elevated from the
recent past … that’s cuz of the following IMHO … 1) the collapse of the YEN
[USDJPY higher] and the outright bankruptcy of Japan, as they embark on a
suicidal trip to hyperinflation at some point … 2) the utter cluelessness, stupidity,
hubris filed Lounge Lizards at both the ECB & FED who are losing credibility
each day that passes, and the flow of money [the “VIX Genie”] that is challenging
their idiotic monetary dogma … and 3) a world waking up to the fact you simply
cannot trust government anywhere and people are moving money … I don’t
think any of this changes anytime soon, so I don’t expect the YEN crosses to be
anything other than very, very volatile going forward … another reason to simply
give the dollar pairs the middle finger!
… outta here … “The future’s so bright I need sunglasses”!! 😎😎
… Onward & Upward!!
-vegas
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