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

LOOK OVER THERE, A SQUIRREL!

 

“Meanwhile over in the “Spoos”, some heartburn ensues!!”

You mean “Stock Bellies” can actually go down? … huh, who knew? … and while

the whole world watches other markets, “Stonks” mini “Thelma & Louise” in the

last 2 hours, going past RM=4 on the m15 for 2 hours straight into the close … a

yuck jobs number tomorrow and who knows the hilarity that comes our way with

a weekend that looks like Iran & Israel are ready for war … no worries, I’m sure

Biden has a plan … Bwahahaha!

And the propaganda “fix” continues, with another “pie-in-the-sky” fantasy jobs

report, where half the blowout gains are part-time jobs that pay ZILCH, the other

half illegals mowing lawns, and the other half government hiring … where are

the full time jobs? … well, they’re in the shitter that’s where, but who cares?

… somebody enlighten me how government hiring is a “good thing” … and of

course, the ensuing chaos comes “el quicko mucho”, none more so than in gold,

where sell stops got brutalized … a few minutes later, we’re off to a $60+ gain in 2

hours, with no corrective activity, and then it’s the “Loser Formation” … like so

many other markets that have gone hyperbolic over these last years, from crude

oil to USDJPY, when the FOMO is over THE REAL CARNAGE CAN BEGIN, and

gold will be no different … traders today betting on the end of the world over the

weekend, as Israel and Iran look ready to go to war.

But hang on a sec … how many times over the last 70+ years has the west heard

from dictators and ragheads about “total annihilation”? … remember Saddam,

and how he was gonna return body bags by the millions back to the U.S.? … how

long did that war last, a day or two at the most? … and who got overthrown and

died? … bluster and bullshit are their biggest allies, and their threats are NOT

aimed at Israel, they’re aimed at the nutjobs that live in their own country … you

think the Mullahs 1) really want to die this weekend, or 2) live in a deep bunker

for the next 50 years? … start a war with Israel for real and find out just how fast

they kick your ass back to the stone age … come Monday, and we’re all still here,

where do gold longs go from these levels?

Sure, I’m bullish on gold, and have been for a good long while … but over the last

70 or so years this shit has traded, we’ve never seen FOMO like this … EVER!

… and while I believe there are plenty of gains ahead, only greed grows to the sky

unabated and devoid of reality … and quite frankly, IMHO, today is the kind of

blow off day that short term tops are made of … the potential for an “ugly” drop

is high, if not Monday then sometime next week … this cannot be sustained.

Inexplicable.

As I stated before, the viciousness of the “V” bottoms, and their subsequent

“elevator up” in spades ascent, is something to behold … good grief, if you’re

buying the green spike up, close your eyes and get ready for a fill from Hell

… NFP Friday is always a crapshoot, simply cuz the numbers are made up fairy

tales and always have been … a propaganda tool for FED Lounge Lizards

… very tough to navigate, and for my money the absolute worst trading day

each and every month it comes around … whatever the narrative is in any

market, Wall Street will find something in the report to latch onto and push it in

that direction … today, though, gold is about WAR and the fact we’re all gonna

die this weekend, so “load up” … well, if that’s true, “load up” for what exactly?

… there won’t be anything to “load up” for!!

The good news is that ranges, both daily and NY, are expanding at a good clip

… that doesn’t mean every day is Christmas morning under the tree, it means

conditions are favorable … now all we need is some actual “trading” that isn’t

just a buck or two inside the “Loser Formation” or tight chop … I thought we’d

see it this week given the gains … NOPE, just more FOMO … it just heightens the

probability that in the days and weeks to come we’ll get the conditions we want

for trading … straight up / straight down ain’t it … 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

MR. “81 MILLION VOTES” IS A LIAR

 

“I never did that! ... oh, but you did!!”

Will the MSM press corp try and bury this latest lie from “Fuhrer Biden”? It’s

there on “X” with your name and account from the White House all over it, and

suddenly like a photo with Stalin, you ain’t there any more … did you vote for

this complete Doofus? … this is the same guy who raised funds in NYC the

same day the city is mourning a dead Long Island cop who got killed in the line

of duty cuz of his insane policies, and then skips town without a mention of

anything … did you vote for this complete Doofus? … cuz if you did, good luck

getting rid of the blood on your hands no matter how hard you try and pretend,

just like all the other Libtards & Rinos, that it’s got nothing to do with you

… BULLSHIT! … and while you’re at it, remember the 13 American soldiers who

died when “Taliban Joe” got ‘em killed in the Afghanistan withdrawal clusterfark

due to his complete incompetence … “if an “R” were in office, he/she couldn’t

get away with 5% of the shit Biden skates on routinely … this latest blatant LIE

about his transgender blunder on Easter only the latest example … if this were

Trump in office, he’d already have been politically executed by the elite &

haughty MSM … what a morally sick country … here’s the link from ZH

yesterday with the details.

https://www.zerohedge.com/political/i-didnt-do-biden-reportedly-has-no-idea-he

-issued-trans-day-visibility-proclamation

Meanwhile over in gold, rising bond yields having no effect so far on price

… inexplicable really when you consider “Stock Bellies” and crypto getting

mauled … I can only guess that when you spend $1 TRILLION you don’t have

every 100 days, with no end in sight from feckless, gutless POLS in the Uniparty,

there’s literally no reason to stop buying, as gold starts it’s “Palladium” journey

upward into the stratosphere of “The Twilight Zone” … not the case in crypto,

where rising yields are seeing “Thelma & Louise” show up for a spanking lower,

so far and it’s early yet, ETH already down about $240 from its high set earlier

in the trading day, and BTC down about $4900.

Well now, FOMO straight up, followed by getting beat like a baby seal at a

Japanese whale hunt … then nothing as we move to the end of the day? … can’t

complain about the level of action in gold, but can certainly complain about the

ever present ChiComs versus the FED battle going on … a lot of traders getting

really hurt in this battle … risk is very hard to quantify in this environment,

analogous to Bitcoin [BTC], where bat your eyes and it’s against you like a

lightning bolt, far greater than you planned … now what?

There are a few things I have gotten wrong about gold in this trading

“Twilight Zone” environment since the start of the year … 1) historical norms for

gold have not held up well at all, and by far this bull market is setting new norms

of trading behavior not seen since briefly in the late 1970’s … if you’ve been

looking for this the last 50 or so years, it’s been a very long wait! … we are now

much more likely to see “V” shaped bottoms than ever before, especially off of

RM=3 and RM=4 levels when hit on panic sell offs … wait for the confirmation

turn on the m1, and make the trade, forcing the market to go lower still after

some congestion, which we’ve seen lately it can’t do … and that sets off an

avalanche of “buy fuel” short covering … 2) I have been loath to trade and make

long trades on algorithm signals as NY goes into its afternoon hours … rather, it

isn’t the longs that feel threatened with shortage of time, it’s the shorts … and

we’ve seen all too often good moves higher as shorts panic … this has been a

mistake on my part, cuz quite frankly these moves can and have been fast and

furious at times … and 3) LONG trades off of RM=3 AND/OR RM=4 ON THE

DOWNSIDE on the m15, have provided excellent entry points for long trades

when the m1 goes “white” … some really good scalps are available here

… I’ve missed these waiting for the m15 to turn white which takes some time

… no more … I’ll be much more aggressive going forward when it’s appropriate.

Two trades today, one a “false positive”, which was more my fault than the

algorithm … I simply waited too long off the 18:30 server time low on the m15

that hit the RM=3 level after a nice $20+ drop … live and learn in the

“Twilight Zone” gold paradigm we now find ourselves in … you snooze and you

lose … if I had long spaghetti noodles, I’d flog myself for being such a fucking

Dope, cuz the m1 turned white within a few minutes of that low … PAMM DOWN

A HAIR OVER 0.1% … going forward, look for bigger volumes and results worthy

of trading a crazy ass market … this up a little down a little is bullshit … and

while it’s also available over in crypto, relatively speaking the risk parameters

in gold, at least up to and including now, are better than either BTC or ETH … we

haven’t seen 10% - 15% moves in gold like we’ve seen in crypto, and there is

better demand dynamics now than ever before … if you’re looking for proof that

metals can move, just remember Palladium … from the start of 2016 when it was

around $500, before the pandemic COVID hoax bullshit hit in March 2020,

Palladium almost hit $3000 … over the last few years it’s been in about a $1,000

range, from high to low, and visited $3k 3 times … currently a little over $1,000

… now that’s some serious movement! … so, gold from about 1600 from the

start of November 2022, if it mirrors Palladium in its bull run, would put the gold

price up around $9,600 - $10,000 before it’s over, sometime in the future

… why not, what’s to stop it?

One other thing is the cell value levels of the RM support / resistance levels in

gold, both for the m1 and m15 … if need be, I’ll boost them to higher volatility

levels when appropriate … I’d say we’re pretty close but not quite there yet

… I’m watching it closely and I think we would need to see consistent daily

ranges over $40, and NY session ranges over $30+ … we’ll see … onto tomorrow,

can’t hardly wait! 

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

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

-vegas