With government sprinkled “Holy water”, let’s grow all of the asset bubbles! … as
I said yesterday, it’s the only way out of the economic mess they themselves
created … instead of fiat to zero and then pay it back, it’s just the reverse
… grow the bubbles so that debt looks cheap to buy back … and here we go!
… so far early today, BTC looks to take out 70K, something a month ago would
have seemed like “crazy talk” … ETH looking to vault 4K, and the “buy early”
crowd cuz ETH doesn’t have ETFs yet [maybe Summer, maybe not, who
knows?] … all systems are “GO!” to grow the bubbles … those with assets
benefit, those that work for a living don’t … nothing new there in the FUBAR
Banana Republic world.
With another $150+ blast higher overnight in ETH, just another day coming up
in NY, where we can sit and do absolutely NADA in terms of trading action
[maybe] … although it’s early yet, market acts like it will never go lower again
… and the higher it goes, the more money that gets thrown at it … human
psychology dictates this won’t end well.
I find it fascinating that both gold and the “Stock Bellies” are acting as badly in
terms of trading action as they are, given their respective price levels … both
stink to high heaven … ETH is about 50% higher than gold, has a comparable
bid/offer spread [gold about 35 - 40 cents, and ETH less than 50 cents most of
the time], and HAS ABOUT 4X HIGHER RANGE AND MEDIAN THAN GOLD, AND
TRADES 24/7/365, and is not manipulated by the COMEX / LBMA / FED / BIS
Corruptocrat cartel … and most days gold is dead … like it or not, and most
don’t, ETH BEATS THE HELL OUT OF GOLD AS A TRADING VEHICLE HANDS
DOWN! … ‘Stock Bellies” [any of ‘em] can’t even move 1% of notional value
they’re so manipulated … they’ll grow as bubbles cuz the FED wants them to,
but what you can’t control will grow exponentially faster and go farther!
Going forward into 2024 and beyond, it’s gonna be a constant battle of human
psychology [GREED & FEAR] versus the unspoken desire of “grow the bubble”
as fast as humanly possible, and I wouldn’t be surprised at all if central banks
are also buying Bitcoin & Ethereum with both hands [Shhhhhh, don’t tell
anybody!] … after all, they got fiat to pay back somehow, so why not pay it back
when BTC is at $10 million per 1 BTC and/or gold at $50K per OZ.? … and in
addition to that, all their Bud Elites will get richer in the process … what’s not
to like? … except for the working poor, of course, but who in government
gives a fuck about that? … while they make Billions, they know Sheeple can
be bought for pennies on an EBT card.
Into the NYSE day, and everything is blowing up … BTC hitting a new ATH, and
right along with it higher spread and of course slippage will be horrific on fills
… gold and “Spoos” in their respective “extend & pretend” market [cough,
bullshit, cough] hoopla, with neither doing much of anything now that NY is in
session … blow the bubbles up, protect them in New York, then blow ‘em up
some more … get the ChiComs to help of course, and what’s not to like here?
… with the implicit “open secret” of government blowing asset bubbles to
infinity [they got no alternative], no telling how high FOMO can go before it all
crashes & burns … we’ve never ever seen this before, so who knows? … what
do “billions” even mean any longer?
I’m replacing BTC with XAUUSD [spot gold] for PAMM trading … BTC at Coinexx
is simply not worth the effort, as the spread blows out too often [today sees at
times $50 - $100], and slippage is horrific [add another $100 … WTF!] … right
now ETH is better than gold for trading, but how long that lasts is anybody’s
guess … with a new ATH in gold WITHOUT a drop in rates, and in fact rate CUT
expectations have done nothing but come down over the last 2 months, and the
Uniparty doing their best to print fiat and depreciate the dollar, gold might have
a shot at trading better going forward … we need better ranges & medians for
sure, so we’ll see … the gold “vegas mq4 code” is over in “Download Links”
… currently RM= 3 & 4 on the m15, and RM=1 & 2 on the m1 … not saying I’ll
trade gold every day, but it’s on the list to be looked at when I come in for the
start of my day … right now, ETH is first, gold would be second, and bringing
up the rear with what can only be described as pathetic, is the “Spoos”.
And suddenly, markets get heartburn an hour before lunchtime EST … and
wasn’t that fast? … sell stops unmercifully butchered … no matter say
HODL-ing longs, “tis a mere scratch!” … and with this blunt instrument trauma
to the head, I’d be somewhat surprised NOT to see lower prints tomorrow for
BTC & ETH … even with this sell off, ETH up 7 trading days in a row, and a
stunning 18 out of 21 trading days approximating $1,500 in gains from bottom
to top … trees only grow to the sky in fairy tales, and while there’s most likely
a Helluva long way to go before we reach any kind of big blowout historic high,
FEAR & GREED [as mentioned before] have to be considered along the way
… bigger money needs to buy at lower price, and retail specs ALWAYS fill the
bill … always have, always will!
Now into the NY afternoon, and unless we get another tsunami wave of selling
later towards the close, as things now stand, BTC with about a 10% move low
to high, ETH about 8%, gold about 1.5%, and “Spoos” a hair over 1% … for you
Biden voters, considering spread and minimal slippage, that makes ETH the
clear winning market for trading action … the one disadvantage is the low
leverage versus gold & “Spoos”, but hey nothing is perfect now is it?
… multiple trades for the PAMM today in ETH, and for a while it looked like
just another day of bullshit one-way action, but corrective activity came along
and WE’RE UP SLIGHTLY … made back all of the loss from the BTC clusterfark
fills on Friday, plus some, so we’re up for the month going forward … hopefully
with some “profit taking” [thank you Bob Pisani, CNBC perma bull hack], the
rest of the week will give us better opportunities than what we’ve seen recently
… we’ll see … onto tomorrow!
… 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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