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

WILL THE FED EVER STOP PRINTING MONEY?

 

“NOPE, NOT EVER!!”

Micro gold futures volume [VOL] on Friday traded over 300,000 contracts, which

is slightly less than 10X the open interest [OI] … 226,000 contracts traded

Monday, and about 180,00 contracts yesterday … clearly, interest is picking up,

and while I wouldn’t trade in the U.S. for any reason, but instead trade CFDs

offshore, you can bet the worldwide offshore volume was significantly higher

… and as long as POLS borrow money with no intention of ever paying it back,

and Apparatchiks at central banks monetize said debt, gold and silver will be in

focus! … unless there’s a revolution where heads get separated from shoulders,

I don’t ever see that happening … the idea of “kicking the can down the road”

and letting somebody else deal with the inflationary problems, is too enshrined

and easy to put into practice for them to ever stop … financial collapse is closer

than you think!

And when that happens, there WILL BE NO ESCAPE FROM THE BANANA

REPUBLIC! … government already knows more about you than any member of

your family, and it’s about to get worse, now that Uniparty RINO hacks in the

Clown College [retard section] just passed a spanking new authorization bill

giving the intelligence agencies [an oxymoron if there ever was one] sweeping

power over Americans ..  like the Stasi, KGB, & Stalin’s infamous NKVD,

ordinary Americans are treated by the “new Gestapo” with contempt, running

roughshod over constitutional rights in the name of “national security”, and of

course for the children … what a bunch of BULLSHIT! … it’s about POWER &

CONTROL over people’s lives, and it will make confiscating your wealth that

much easier … somewhere in the depths of Hell, Reinhard Heydrich is jealous

with envy at this so called “Democracy” that ain’t … you live in a Fascist

Technocracy, where capitalism is only paid lip service … the link below at ZH

with more details.

https://www.zerohedge.com/political/supercharged-spying-provision-buried-

terrifying-fisa-702-reauthorization

We’re starting to hit that important “inflection point” in monetary history, where

when SHTF it’s gonna be quick and furious … since 1971, when NIxon took the

Banana Republic off the Bretton Woods gold standard and introduced “fiat”, it’s

been a cascading series of problems and short term fixes that get worse,

worse-er, & worser-er-er every single year … the world is waking the fuck up,

with central banks all over the globe demanding gold, once held in New York, be

returned back to its original origin … why? … cuz they don’t trust the U.S. to

keep its word and deliver THEIR GOLD WHEN THEY WANT IT … since the end

of the Korean war, the U.S. has stabbed every single supposed ally in the back

and abandoned them, and now with the weaponization of the dollar, nobody

knows who’s next that falls out of favor with “The Swamp” and decides to

sanction you for political expediency … “So, gimme my fucking gold back!!”

The whole idea and premise of “BRICS” is to develop a system of international

payment solutions so that countries can bypass using the FED SWIFT system

and ditch the U.S. Dollar cuz of the potential problems it can lead a country into

… and part of that system is gold … I’ve said it before and I’ll say it again … the

U.S. is O.V.E.R. when Saudi Arabia starts accepting Chinese Yuan for oil payments

[that’s already begun!], and then STOPS ACCEPTING U.S. DOLLARS FOR OIL

… at that exact moment, good luck Banana Republic in your daily Treasury

auctions and paying the bills, not to mention all the freebie shit demanded by

“The Free Shit Army” that won’t be there any longer … and the price of gold?

… who knows, but it won’t be lower! … and all of those ILLEGAL IMMIGRANTS

BIDEN HAS LET IN, go on a terrorist rampage that the country can’t now afford to

confront cuz they can’t borrow money any longer to pay for anything … what a

shitshow that’ll be when it occurs, cuz that’s what the Elites want … they want

America to be over and done with … throw out the constitution and start over

as an authoritarian system of one party control and power … and more than

likely, you’ll be all for it!!

Quiet overnight, and it appears to me the ChiComs are playing their cards close

to the vest … no selloff in the Asian session, as they are gonna make the FED sell

it off so they can buy it … why should they sell it off and let the FED ring the

register for some short term gains? … make the FED sell MOAR! … the longer

we hang up here within striking distance of 2400 and the high around the 2430-ish

area, the bigger the next explosion will be to the upside … what does the FED

do then? … and what happens if silver goes parabolic as well? … demand for spot

silver is “off the charts”, with many mines going straight to end producers of

silver and skipping the “Comex cartel” altogether cuz they can get much better

pricing … spot silver is anywhere from $5 - $7 premium to futures!, IF YOU CAN

GET IT DELIVERED TO YOU … and if you need size? … OMG!, ask the Indians

how that’s going … quite frankly, I wouldn’t be surprised to see metals continue

to go hyperbolic up and until a bullion bank goes tapioca and forced out of

business … that kind of news portends a top IMHO … but we ain’t anywhere near

there yet! … [I don’t think, but today’s trading action worries me over the near

term and into the May - August cycle … they can’t even drive buy stops cuz

there’s no power there to drive it … everybody who wants to be long is

already long … now it’s sell stops turn in the sun … I could be wrong, but metals

already have very long over positioned specs with stops below … if history

repeats, which it almost surely does, the bullion banks and the FED will go

get them … question is, will the ChiComs let them or not? … we’ll see]

We got beat up today … chop in gold followed by sharp moves lower in

everything else, along with horrible fills from the Coinexx HFT LP, who robbed,

mugged, and raped us pretty hard … B.I. Itch all you want, they don’t care, and

getting through the spread to the other side in what seemed an impossible

scenario … when it doesn’t wanna go, it doesn’t … surprised to see no attempt

at 2400 the entire day … going forward, my first priority will be ETHUSD, which is

moving as well as can be expected given its ranges lately, which have been very

good … spread tighter relatively speaking than anything in gold or Bitcoin, but be

careful of the spread when it moves above $2+ … trade at that level and you’re

gonna get fucked royally by the scumbag LP … just warning you … volumes

upped today, and we’re on the wrong side of being DOWN JUST NORTH OF 0.6%

… I came in with thoughts of “day trading” more than scalping … fuck that!

… scalps, especially in ETH worked well, day trades in both gold and ETH didn’t

… lesson learned the hard way, even for somebody who’s been around trading

forever … volumes will remain high, and it’s the scalps I’m looking for and are

my “bread & butter” … if gold continues to go higher, I’ll look at it, but I’ll only

trade it if ETH goes dead … ETH is the better scalping vehicle hands down

… just as good as movement and a much tighter spread with usually low

slippage … today at times, that slippage in ETH was bullshit, but it’s bullshit

99% of the time in gold so what’s the difference if you get a “one off” in ETH?

… BTC is just plain stupid with its hundreds of dollars in moves up/down in

seconds … add some slippage to that pig along with a fat spread and see how

you feel … trust me, you won’t feel very good!

I’m somewhat surprised markets as a whole went lower hard today, as yields

went lower … it is what it is … it’s tough to see what group is leading and who’s

following … near its low today, ETHUSD has lost  roughly $800 in value over the

last 7 trading days during the week … talk about a sell stop bloodbath, this is it,

right along with BTCUSD … from my perspective, though, it makes a much better

trading vehicle when both sides panic, instead of the straight shots up or down

… onto tomorrow and ETH scalping! … [should have never left it to begin with!

… Oy Vey Maury, Oy Vey! … one more thing … I’ll be trading ETH to about 4 PM

EST, so look for blog posts sometime after 4 PM EST but before 5 PM EST … as

today proves once again, trading action in the last half of the day to the NYSE

close can be quite interesting, and I want to be there when scalps present

themselves … rough day today, but no worries … onto tomorrow!!

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

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

-vegas

GOLD $2400 … THE CHICOMS ARE CALLING THE FEDS BLUFF

 

“The ChiComs may be thugs and murderers, but they understand this!!”

Your move FED, as the ChiComs waste no time last night taking gold to $2400

per OZ. … “whatcha gonna do FED Lounge Lizards? … sell MOAR!? … and what

happens some day when the world finds out you ain’t got the 8,000 tonnes of

gold you say you got? … both the FED & Treasury won’t allow an audit, so

nobody knows for sure if it’s there or not … what if it ain’t? … why would

anybody refuse an audit if everything were legit? … SHORT ANSWER: “THEY

WOULDN’T!!” … no need to ever fight a physical war, simply suck them dry and

take all of the gold while leaving them with worthless fiat toilet paper backed by

NOTHING … TO THIS DAY, IT STILL AMAZES ME THAT PEOPLE LOAN THE U.S.

GOVERNMENT MONEY, and get interest BELOW the real inflation rate … what

kind of special Dope does that?

Decades upon decades, and many years being ignored, gold does in a couple of

months everything known to human psychology to literally destroy a market

… and now at last, central banks buying the top and sending price into “The

Twilight Zone”, where if you trade it you’re nuts … this isn’t a market any more,

it’s completely devoid of market qualities … Hell, even Bitcoin when it was

going from 3,000 in May 2020 up to 66,000 for its first major top, had corrective

activity and could be traded … not gold, currently on a bender like sailors on

shore leave at a bar … and you have to wonder, what happens when the FED

finally does fold their cards and stops shorting gold and gets out … hundreds

of BILLIONS in the hole, what idiotic horseshit do they throw at markets then?

Currently we’re at “End of the World” long positioning part II going into a

weekend where Iran versus Israel seems to be a not insignificant probability

… when we wake up Sunday night and we’re all still here, will anybody care?

… Nope, I don’t think so, so why not gap up to $2500 per OZ. in 2 minutes and

just get it the fuck over with for the day? … actually trade some? … no, that’s

what’s known as a “market”, and that doesn’t describe gold any longer.

Bank earnings suck, “Gee who knew?”, rates on the 10 YR. still at 4.5% or

thereabouts, and the “Spoos” seeing extreme long positioning itself since

November lows some 1,200 index points lower, and you wonder when this

market cracks and goes “Thelma & Louise”? … and suddenly, while everybody

and their pet rabbit is picking out their new shiny red Porsche, along comes a

gut wrenching $50 drop in gold just to remind folks shit goes down as well as

up … some crazy ass bid/offers along the way, and I’m sure if you had a sell stop

in there you got treated fairly, right? Bwahahaha! … from a trading perspective, I

don’t care where anything is at in any market … it’s just numbers on a screen and

doesn’t reflect reality anyway … you ain’t trading what you think you are trading,

you’re trading human psychology, and it makes no difference if its “widgets”,

gold, or “Spoos” … they ALL act the same at different times and put in the same

formations on a chart, and by and large get traders to do the exact same things

they would do no matter what they trade … every market has its day in the sun,

and every market goes bat shit crazy [BSC] and gets crushed like all the others

… ain’t nothin’ special here in this arena, other than the “Stock Bellies” operate

in an “88/6/6” paradigm whether you like it or not, and all other markets don’t

… gold for its part, just had a senior moment, and let’s hope it leads to trading

instead of simply one way action before it dies until next time.

“Spoos” proving today, that no matter what the news is [and it was bad], there’s

ALWAYS tradeable rallies anybody can scalp using the algorithm … at least so

far into NOON EST, RM levels on both the m15 [RM=3] & m1 [RM=1, along with

the MACD histogram (8 period fast, 15 period slow)] doing exceptionally well in

modeling price behavior going forward a few minutes for scalps … if it wasn’t

for gold breaking like it has, I’d be paying more attention to the “Spoos”.

There come days in trading, not very often to be sure, where everything is NUTZ

and falling like “Thelma & Louise” headed to the bottom of the quarry … only

thing is, we can’t see where the bottom is … bottom coming in 3 … 2 … 1? …,

or the abyss from “300” that has no bottom … throw in overextended markets

that haven’t seen this level of long hubris, and it’s quite the setup for a Friday

where the world might end this weekend … [again!] … with people trapped,

countdown to the close has the potential to be a real disaster … maybe, maybe

not, but I don’t wanna find out … gold, silver, “Spoos” particularly vulnerable,

especially when those trapped convince themselves it can’t get any worse

… trust me, IT CAN GET WORSE!

Of the 3 markets, “Spoos” about the only one that can be counted on to see

some kind of scalpable rallies, simply cuz of  the “88/6/6” paradigm the rest don’t

have … gold the worst, gapping all over the place … Still, one decent scalp trade

for the PAMM and WE’RE UP SLIGHTLY … QUITE FRANKLY, “Spoos” are more

overextnded than gold to the upside, having put in about 1200 index points in 23

weeks with only 4 “Friday to Friday” weekly closes lower, and those not by much

… UP 30% on what exactly? … oh that’s right, all of those rate cut fairy tale

hopes and dreams that were gonna see 200+ bps of cuts in 2024 … now down

to 38 basis points and still going lower thanks to inflation figures that are vastly

underreported … how about a rate hike? … anybody got that calculus for the

“Spoos” or gold at these levels?

Won’t next week be interesting given what we’ve seen today? … 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