GOLD & SILVER TRAVEL TO WATERLOO

 

“Happens every time there’s a parabolic move UP … so sorry, you lose!!”

It’s not like this hasn’t always happened before, cuz it has … “FOMO & MOMO”

parabolic moves ALWAYS END UGLY! … gold, silver,, crypto, you name it … and

most often it comes out of a weekend where “all of a sudden”, having killed

shorts to no end and frustrating the shit out of those trying to sell the top, people

throw in the proverbial towel and then get long … “can’t beat ‘em, might as well

join ‘em” … then there’s the other side, the longs positioned and already picking

out the color of their new Porsche, and Bingo!, Bango!, Boom!, you’re selling

the ugly break … hello Kia! … so far it’s mild by comparison to other nose

dives, and maybe it recovers, maybe it gets beat silly like a drum at halftime of

the big game … we’ll see … meanwhile, ETH acting like a corn spread in

January … go figure.

Overnight about a $50 range … 6 hours of this bullshit and we’re looking at a NY

session range of about $20 from the extreme tips, but overall about $12 - $15

mostly traded, with “Nada, Zip, Zilch, & ZERO” FOR UP MOVES LIMITED TO

ABOUT $3 BEFORE IT GETS SHIT KICKED TO THE CURB AGAIN and heads

lower in a crawl … long, gone, so sorry you’re selling the break … have you

ever seen a market so completely devoid of buying interest, where 48 trading

hours ago, the entire world was crawling over each other to get long? … and

this action today, so far, tells me people are stuck long and can’t get out … that

doesn’t mean the great bull market is over, simply what I’ve been writing about

for over a week … namely, too many people are long …  …. shit goes up,

everybody and their pet rabbit gets long, and then shit goes down … elevator

up, and out the window to the ground floor when it goes down on that first

wave of “profit taking” [thank you Bob Pisani, CNBC perma-bull hack]

… I’m not surprised it’s going down, but am somewhat surprised it can’t even

muster a couple buck rally to scare shorts shitless … but hey, welcome to gold!

Meanwhile crypto is acting like it died over the weekend … “what do I say at the

funeral?” … and silver getting mauled worse than gold … call it whatever you

want, scalping and/or day trading, it’s a matter of semantics … but it allows one

to blow with the wind and not get stuck … I mean, it only took 45 years for gold

to do these last 2 months, to get the kind of runaway market we’ve seen … can

you wait that long? … there isn’t shit to do in this, but it’ll be interesting to see

how Asia reacts later during night time hours … was this simply a ChiCom trap

or is there more selling to come with some really good waterfalls shaking

people out? … we’re gonna find out … no trades today for obvious reasons

… onto tomorrow! 

… OUTTA HERE … “The future’s so bright I need 2 pairs of sunglasses 😍😍,

and my own Brinks armored truck” 💓!! … Onward & Upward!!

-vegas

7TH GRADE SNOWBALL FIGHT … PART ii

 

“And this is what goes for “war” now? … lob some scripted missiles!!?”

Imagine if this horseshit were in WWII … who is lucky enough to be in Hitler’s

press corp? … would they ask what his favorite flavor of ice cream is? … and

so here we go again with another bogus “the world is coming to an end, sell

Mortimer, SELL!! … WELL IT APPEARS, NOBODY GOT HURT! … what a relief

to the hordes of Libtard Journos who think war is somehow just a photo op

for propaganda … I’m so old I can remember when war was for killing and

breaking things” … and once again, overnight the sellers get stiffed and made

to look like Chumps!

Meanwhile my annual physical, always a pleasure for any guy over the age of 35,

went off without a hitch … sure, you know it’s coming, but that doesn’t stop them

from putting on the gloves that look like they’re gonna deliver a calf out on the

farm … from my perspective, that’s what it looked like … cuz nothing, absolutely

nothing beats the experience of a prostate exam … that was so good, can I get a

second opinion from another Indian doctor here? … and when I sarcastically

asked the nurses where’s my tootsie roll lollipop for being a brave little soldier, I

am magically informed that’s only for big boys who don’t B.I. Itch and moan all

the way down the hallway back to Mommy … “well, that’s easy for you to say

… I’m hoping the mental scars heal by this time next year!"

Is there anything left on the order books for a Friday after first killing longs and

then destroying shorts? … after this bogus WWIII clusterfark you got to wonder

if anybody wants to play trading today, or just go home for the weekend and ask

themselves why they stayed up all night to get the shit beat out of ‘em? … time

would have been better spent watching “Brady Bunch” reruns and WNBA

highlights … asking for some friends … we’re about to find out.

As we lurch to the criminal, money laundering NYSE open, crypto getting some

heartburn slightly lower after basically 5 hours sideways where no headway was

made to the upside … and if you can’t take it higher, disappointment always sets

in and traders will attempt to take it lower … sometimes it works, many times it

doesn’t and in that case you get chopped to death buying breakout tops and then

selling breakout bottoms or vice versa … in any event, not a good scenario when

things are tight and getting tighter … markets have done a complete 180 from 48

hours ago … ultra bat shit crazy [BSC] to are we open?

Now into mid afternoon in NY, and nobody but nobody wants to play … it’s the

human psychology factor at work on a Friday where earlier first longs, then

shorts, got hosed in about as record of a time as you can possibly have … not

just crypto but everything … however, I would note crypto loves to follow and

mimic the NDX100, and the darling techs have been down now 6 days in a row

[including today], losing some 1,250 index points, or roughly 6% in value

… while they won’t usually go tick-for-tick, it’s tough sledding for ETH to move

higher when tech “Stonks” are getting beaten like a baby seal at a Japanese

whale hunt.

So we go from mind blowing bat shit crazy [BSC], and then walk into today and

the entirety of the NY session is about $55 in ETH? … WTF? … and while there

were some algo buy signals, albeit very weak in scope and nature, unless

“Stock Bellie” can regain some upward “FOMO & MOMO”, who wants to be

stuck in ETH begging for price to get above your buy so you can make $0.19?

… and that’s if you’re lucky and they don’t rip the shit out of your order with

slippage … been at that rodeo and don’t want to play for meager gains with the

same risk … all-in-all, simply a shit day … back to those “Brady Bunch” reruns

… so no trades today, not cuz I wasn’t tuned in … Hell, I was “locked & loaded”

… it’s cuz there was no real market today in the NY session, with about the worst

chop you could imagine … blog update on Sunday … cya then!

… OUTTA HERE … “The future’s so bright I need 2 pairs of sunglasses 😍😍,

and my own Brinks armored truck” 💓!! … Onward & Upward!!

-vegas

NAVIGATING THE “SPOOS” … BUT YOU NEED A DECENT HOUSE ... AND THAT AIN'T COINEXX!

 

“Excuse me sir … do you know where the SP500 & GOLD closed today!!”

Follow the flow of money! … nothing else matters … “Spoos” exist inside the

“88/6/6” paradigm, unlike other markets, so use this advantage for your benefit

… be especially careful of late afternoons, where moves can become

exaggerated, and don’t buy breaks after 2:30 PM EST if algorithm signals break

down and then give a buy signal … while things may turn out for you, many

times there isn’t enough time on the clock to the close to get others to follow

suit and carry the market higher, and the last thing you want is to be forced out

cuz of time.

Use the m15 as a barometer for success on the m1 … know generally speaking

where volatility is trading at and use appropriate RM levels for support /

resistance … if that happens to be RM=2 and RM=3, and the market is hitting the

upper boundaries of this resistance, it’s time to liquidate NOT get yourself into

new long positions … the m15 can give you information that the m1 can’t!

… whether you scalp or day trade makes no difference.

Unfortunately for us in the PAMM, we happen to be at Coinexx, one of the worst

“slippage whores” operating, and as today proves yet again, you can’t believe

‘em or trust them to make a decent market in ANYTHING but metals and crypto,

and that’s it … for some unknown reason, LPs in these 2 groups fill adequately,

and on occasion are better than expected … our tiny volume order in “Spoos”

got robbed, mugged, and then raped with slippage, and there’s no way I’m

putting up with this shit for a second … just unreal slippage by a bunch of

fucking thieves … my advice for “Spoos” still stands however, and a decent

place to trade it is at “SIMPLE FX” … 0.3 INDEX SPREAD ND NO COMMISSIONS,

with minimal slippage if any … unfortunately, they don’t have a PAMM or any

money management services available.

Back to metals and ETHUSD for the PAMM, and even though they aren’t in any

kind of “88/6/6” trading paradigm, the advice above goes double for gold & crypto 

… crypto meandering around, although with large ranges, but going nowhere but

down, especially ETH … gold and silver have become the go to “FOMO & MOMO”

market, with the kind of ranges we’ve been dreaming about for ages but haven’t

seen cuz of FED manipulation … well, that’s out the window! … more straight

shots up/down than I’d like to see, but on the other hand that’s what “FOMO &

MOMO” give you! … our only choice is to ride with it or sit out … still, I’d feel

more comfortable in a trade if this market could correct some … just too many

longs for my liking … but hey, it is what it is.

It’s difficult to make the case that gold is in some kind of choppy market today

with a NY session range so far of over $30+ per OZ. … but outside of one 30

minute period where it raced up from nowhere, it hasn’t exactly set the world

on fire, but instead gone into the slow crawl mode with sporadic bursts both up

& down … and once we got screwed in “Spoos” and I turned my attention to

gold, I’m looking for evidence of good scalping conditions … and while not

“perfect” cuz nothing ever is, they’re pretty “Hoover Dam” good in present form

…. You just have to take what they give you before they attempt to take it back,

and then not worry about what’s next … rinse/repeat, it’s a solid game plan IMHO.

We should have seen some kind of determined correction by now in gold from

the FED, the only central bank interested in price suppression with their Buds

at the BIS … that they can’t break it speaks volumes … not even higher rates is

denting gold, although if the 10 YR. breaks 5% on the upside all bets are off the

table … point is, I don’t see VIX in gold backing off much going forward, and

given its present level of daily and/or NY session ranges, there’s enough fear

& greed in the marketplace to embolden scalpers and make it highly profitable

with relatively contained risk versus longer holding periods … granted, it would

be nice to see a lower spread, but what good is a quoted lower spread if the

scumbag bullion dealers rip you a new orifice via slippage on every trade? … it’s

the psychology of the trade via “FOMO & MOMO” that is getting people to either

buy or sell, whereas in earlier times they would have balked at paying up … with

$30+ ranges every day, they’ll pay up!, cuz they know if they don’t it could get

much worse on the fill … this market moves soooooo “Hoover Dam” fast &

furious! … isn’t that what we want from scalping?

Trades today in “Spoos” [the last one you’ll ever see] and gold … we’re DOWN

FRACTIONALLY THANKS TO GETTING RIPPED IN “SPOOS”, AND UP IN GOLD

… my order of preference in training now that “Spoos” is not a viable trading

option at Coinexx, will be 1) gold, 2) silver, 3) ETH, & 4) BTC … if these don’t

move, nothing moves … onto tomorrow!

… OUTTA HERE … “The future’s so bright I need 2 pairs of sunglasses 😍😍,

and my own Brinks armored truck” 💓!! … Onward & Upward!!

-vegas

SUNDAY UPDATE: SPOTLIGHT SHINES ON THE “SPOOS”

 

“I am not superstitious! … but why take any chances!!?”

That was some New York trading session on Friday … even FX briefly woke up

… for our PAMM markets, it was bat shit crazy [BSC] right down the line

… crypto got mauled, gold & silver put in massive refersals in price, and the

“Spoos” got whacked by Paulie & Sil … ranges blown to shit early, and it was

a race to the bottom.

The very first concern any trader should have is the total cost of what it is

he/she/it is trading … at Coinexx, bid/offer spread + SLIPPAGE in the other 2

“Stock Bellies” CFDs, namely the DOW30 & NDX100, make them unattractive

IMHO to trade … it remains to be seen what awaits us in the “Spoos”, but most

days conditions fall around industry norms and values … what separates the

“Stock Bellies” from other market offerings is that they operate in the “88/6/6”

paradigm of trading [88% of the time higher, 6% of the time sideways, and 6% of

the time they’re getting the shit beat out of ‘em] … and for that reason alone, I

stay on the LONG side of any and ALL trades … avoid getting whacked on the

back “6” and you’ll need super tanker ships to take the money away, IT’S AS

SIMPLE AS THAT!

To that end, a conservative trader might choose to trade “Spoos” from the long

side  when 1) the m15 ZLMA [zero lag moving average], period 15, is “white” [up

slope for rising price momentum], AND 2) the m1 ZMLA is either white, or has

just changed colors with the MACD [8 period fast, 15 period slow, EMA]] going

above the “0” level [yellow line] on the histogram below the m1 chart, or is

already above “0” and starts rising again … of course, “FOMO & MOMO” change,

but they do so with the color changes, not out of the blue … it is rare to get

consistent buy signals in an up market that only trap you before you can exit

with a scalp profit before changing short term “FOMO & MOMO” … it’s a lot

more common when the m15 is “hot pink” on the ZLMA, indicating a down price

move is in effect.

At this time, I don’t think I need to change the “vegas mq4 code” for the “Spoos”

to adjust it for higher volatility … maybe later, but not now … RM levels should

be taken with a “grain of salt” when 1) daily or weekend opens come, and 2) econ

reports, FED reports, and FED Lounge Lizards speaking hit the market and there

are very sharp and sudden up/down moves … RM levels are for normal trading,

not news events!

I’ve changed the “vegas mq4 code” for gold on the m15 chart ONLY … that code

is over in “Download Links” and is for the m15 chart only … the m1 stays the

same and uses the current “vegas mq4 code” … higher volatility in gold

necessitates larger volatilities for the longer time period of m15 … no changes

to silver yet.

Directly below the week’s 20 Day Range & Median values for our 5 PAMM markets.

click on table to enlarge

… OUTTA HERE … “The future’s so bright I need 2 pairs of sunglasses 😍😍,

and my own Brinks armored truck” 💓!! … Onward & Upward!!

-vegas