Break out the whiz kid calculators, it’s time for another installment of NFP Idiocy
Day … this is the day the government completely guesses how many phantom
jobs the economy created … take a couple of hundred thousand mindless
government employees, give ‘em a Chinese abacus and a pencil and scratch paper,
and before you know it, Applebee’s & Chile’s will have created another few
hundred thousand waiter and bartender jobs! … just like that! … “you gonna
believe us, or your lyin’ eyes?”
Well, that escalated quickly didn’t it? … anybody believe in the slightest that an 8+
sigma miss is legit? … and again we see, the nuclear fallout hitting markets,
where the reaction was swift & violent … attention gold bulls: fire sale on aisle 3!
… order books destroyed once again, and if you think there’s gonna be any
“trading” after this NFP Idiocy, guess again … so many markets overextended on
the “Hope” of a FED pivot or pause, with substantial gains built over the last
weeks built into the rosiest of scenarios … ho hum, just another bloodbath.
Market after market obliterated by lying bullshit from the U.S. government … see
my shocked face … I never, ever go into any of these so called “reports” with a
position, simply cuz you never know from month to month what the Liars,
Scoundrels, Hypocrites, and general scumbags of government will do with
numbers for political propaganda … after this one, Applebee’s will most likely be
the largest employer in the country, with so many bartenders and waiters /
waitresses, you can’t even count ‘em all! … and on a Friday of a week filled with
central bank horseshit, good luck getting anything to trade today once the
criminal money laundering NYSE opens … par for the course these days, as
almost nothing “trades” any longer, it just lunges between bouts of panic
… welcome to the casino!
And in case you haven’t figured it out yet, it’s very difficult for me to hide my
utter disgust and genuine loathing of central bank Apparatchiks, government
POLS, and other Liars & Scumbags who hang around markets, including but not
limited to LP’s and their criminal ilk … these Scumbags have ruined markets,
and turned them into nothing more than games of roulette … whatever depths of
Hell they eventually end up in, they deserve to be LOWER.
Oh wait, the fun never stops in the casino! … now comes ISM numbers that miss
by sigma multiples … well, 2 nuclear bombs go off, HOW LUCKY CAN MARKETS
GET? … just in case you didn’t get slaughtered by scumbag LP’s the first time
around, here’s your chance now! … is it safe yet Mommy? … just unfrickin’ real
what is happening … market destruction continues.
Gold & FX getting “monkey hammered” … “Stock Bellies” could care less … go
figure … it only makes sense when you understand that “Stock Bellies” exist in
the “88/6/6” paradigm … nothing else matters, and bad news isn’t really bad news,
just another BTFD opportunity … that’s how the public sees it … that and the fact
that most still believe the Morons at the FED … if that’s you, you might as well cue
up the Goebbels speeches, sit down with popcorn and enjoy! … and the gamma
squeeze melt up continues in “Stock Bellies” … nobody can get enough!
Earlier today, even before NFP came out, I was watching EURUSD & GBPUSD
carefully … then contrasted it with the blowout sigma miss in NFP … in both
scenarios, I’m not happy with the internal dynamics of how these markets are
being quoted and traded, and the lightning quick changes in bid/offer, even when
nothing is going on … you think you’re getting one thing, but you are getting
something vastly different, and it ain’t in your best interest I can assure you … fact
is, they’re just as bad as “Stock Bellies”, but not as bad as gold, which is the
worst by far when SHTF.
This prompted me to call Coinexx management and have a “pow wow” … I won’t
bore anybody with all the details, other than to say that if I trade the “Spoos” at
bigger volumes, my fills and latency will be like I want them to be … of course,
they’ll never admit to slippage or bogus bid/offer spreads, cuz that would be
admitting the obvious … but the bigger your volumes the better the fill … “OK, I
said, you’re on … we’ll see come next week, as I move back over into the “Spoos”
… given the panic bullshit exhibited this past week in everything else, both to the
upside and downside, where’s the beef with the “Spoos”? … name for me a market
that reacted better than the “Spoos” given the distorted news flow from all over
the place … right, there aren’t any … DOW30 is a different story … slippage in that
market is far worse than the SP500 when SHTF, and your fill can be anywhere they
want it to be … bottom line, though, is we’re already “Spoos” traders whether you
want to be or not, cuz practically every single day the “Spoos” provide the
“risk on / risk off” [RORO] bullshit the other markets follow … from gold to FX,
everybody’s got one eye on the “”Spoos” … so the risk is there, but do the other
markets have the reward? … gold does, but its risks are extremely elevated versus
reward … FX has the risk, but not nearly the reward.
As I told them, I’m getting sick and tired of being sick & tired of trying to find a
market or group of markets NOT to get royally screwed in … gold at higher
volumes has worked out OK, but gold is showing its true colors and being not
really a decent trading market … a lot of that has to do with the spread and
slippage from LBMA dealers, where it can be rough getting out of the spread if
you’re stuck on the wrong side of a trade … and watching FX today, I just don’t
see the advantage … I thought it might be there, but in real time it ain’t … and
besides, most of the time they’re simply following the frickin’ “Spoos”! … so back
to the “Spoos” on Monday, where I’m hoping larger trade volumes will see us
getting better trading conditions.
One thing about “Stock Bellies”, most breaks before the New York PM can be
bought for profit … come the afternoon, be very careful about buying a break in
the “Spoos”, and as we move to the close, leave alone breaks that come in the
last hour of cash trading … they can be particularly nasty & vicious in scope
… with no time on the clock to the close to speak of, where you gonna go with a
loser trade? … they got you and will make you pay most times.
As we head towards the close, I didn’t figure this to be an “inside day” from
yesterday … especially after the blowout 8+ sigma miss from the NFP putting
pressure on rates … then comes the ISM numbers, and another blowout … and
yet, within a couple hours to go to the close, “Spoos” only have an approximate
61 index point range … rather paltry if you ask me given the news flow … the
“Trading Ratio” [TR] has been adequate, ranging between 3 - 4 all day, but any
and all pressure is being bought so far … quite frankly, this FOMO panic to the
upside is getting overbought, and while the economy is weakening, nobody in
“equity land” seems to care one bit … some downside action next week would be
more than welcome, and if we get it in the early hours, it should lead to some
excellent algorithm buy signals.
No trades today for the PAMM, but that will change starting Monday as we tackle
the “Spoos” in earnest with heavier volume … hopefully, we can stay in the
“Spoos” and are treated right … I hate this jumping around from market to
market … “Spoos” should treat us well … in actuality, cuz of the paradigm
“Spoos” operate in and under, we can break down the probabilities very
accurately … as I discuss in the upcoming manual, 68% of all SP500 trading
action can be modeled very well … 32% lies in “The Twilight Zone”, and you
simply leave this crap alone … by definition, ⅔ of the day [or more] is a slam
dunk! … no other group of markets enjoy this advantage, so it’s a “Natch” to be
trading “Spoos” … and if we get the right conditions, I’m a happy camper … blog
update on Sunday.
… OUTTA HERE … “The future’s so bright I need 2 pairs of sunglasses 😎😎,
and my own Brinks armored truck” 💓!! … Onward & Upward!!
-vegas
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