What a fine kettle of fish this is … Mr. Market ain’t believin’ anything the POLS &
Apparatchiks are shoving down the trading public’s throat … why should there
be any credibility given to liars & crooks?
Through it all, USDJPY trading like it’s supposed & expected to behave … gold is
purely psychotic, and “Stock Bellies” have lost their “oomph!” … maybe they get
it back, maybe they don’t … and the FED Lounge Lizards are as clueless as ever
… “please, raise rates 50 bps next week and show us just how fucking stupid
you are”! … and if “everything is fine”, how come “Stonks” are tanking, gold is
skyrocketing, and consumer confidence is in the toilet? … nobody believes these
lying assholes, and rightly so.
Most of today, USDJPY trade was uneventful but still moving OK … then came the
drop in treasury yields and all Hell breaks loose on insider news flow which ain’t
good … gold just your normal run of the mill approximate $80 range [so far] to the
upside in totally “buy at any price” panic mode … “gosh, why would anybody
want to own gold and pay any price for it, when Creepy Uncle Joe and Grandma
Yoda Yellen have assured us “everything is fine”, and the banking system is
safe?” … yea, you know why! … and going into a weekend where anything can
happen, alongside OPEX QUAD WITCH, nobody wants to own nothin’ and take
a chance … why?
From a purely trading perspective, gold has gone “off the rails” and is in
“psycho land”, somewhere inside “The Twilight Zone” … FX behaving well
considering … and again we see abnormal Friday action, whereas the usual
course of events is for Mondays & Fridays to be rather dull affairs … not
anymore, not in the “new normal” where we’ve entered a different universe of
trading and rules … here, everything is 10X faster than before, and whatever
liquidity there was before we got here, ain’t here no more … markets as thin as
I’ve ever seen ‘em, with a squirrel fart able to move price.
I had hoped last night in early Asia, that USDJPY would attempt to rally over 134,
but that never happened, and for most of the U.S. trading day from about 8 AM
EST to 1:30 PM EST, USDJPY was in a pretty tight range of about 35 - 40 PIPS
… it was moving OK, but it wasn’t really going anywhere … then all Hell breaks
loose … I don’t think it’s simply one news item, cuz there’s several on the wires
from North Korean Cable Biz news channel CNBC, and none of ‘em are
“confidence builders” … rumors … official propaganda … it’s all the U.S. has
anymore.
Quite frankly, I thought it would take more than what we’ve seen so far from the
usual Wall Street propagandists to explode gold … tells you how severely
FUBAR the U.S. really is, and how much in trouble the banking system finds itself
in, in the era of “Taliban Joe” … “when you voted for this criminal, influence
peddling douche bag, just WTF did you expect? … I tried to warn people, but all
they did was go “Baaaa … Baaaaa” and wander off into fantasyland!”
One algorithm signal trade taken today in USDJPY … PAMM UP SLIGHTLY
… basically shut things down after the London Fix … like I said, up ‘til then
pretty uneventful … going forward, I’ll trade it to about 3 - 3:30 PM EST before I
shut it down for the day … “risk on / risk off” [RORO] a real factor in USDJPY
… the trading algorithm simply excellent … more trades, more action, coming
Monday and going forward … 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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