TEACHABLE MOMENT: “MISS GIMPY” STARES INTO THE ABYSS

 

“No market plays any favorites!”

USDJPY hurt her today … not much by money standards, but in “emotional

capital” … she stared into the abyss and it stared back … it’s what happens

when you don’t follow algorithm rules and then do “stupid shit” … many times,

“stupid shit” makes you money, but that doesn’t mean you did the right thing,

and it sets you up for a monkey hammering when it doesn’t work out the way

you want … she’ll recover cuz I showed her how to trade out of the trouble and

make the loss reasonable instead of outright horrible … live and learn baby, cuz

if you don’t it’ll happen to you again down the road at some point.

Today’s trade highlighted of course by the “set up” by the BOJ, where first

“Peter Pan" Kuroda gives his dry ball speech about BOJ monetary policy and how

it ain’t gonna change … that gave traders the false impression that the 145 level in

USDJPY was in play, and it got run hard up to the high of the day around 145.90

… then came the European open, and here comes the BOJ intervention, the first

time in 24 years … SHTF “bigly & yuge”, spreads get obliterated, slippage comes

into play, and down goes USDJPY, right down the rabbit hole … when the dust

settled, we’re some 500+ PIPS lower … if you want to call this a market today, go

ahead … it wasn’t of course, more like a casino slot machine … absolutely

nothing here favorable to any trader to be in this shit, as every metric is blown

apart by thieving, scumbag bank LP’s … and it took a long time to get trading

conditions back to normal … then after completely destroying USDJPY longs,

now it’s time for the shorts to experience bank pain, as we go on the yo-yo ride

straight up some 200 PIPS without so much as a fart for corrective activity

… only 2 scenarios where the trading algorithm will run into headwinds

… 1) a completely dead market, and 2) a market that goes straight up or down

with almost ZERO corrective activity … and today we got #2 in spades.

Time to set sail, but it’s not gonna happen when there’s a CAT5 hurricane called

the BOJ … bid/offer changes so chaotic, slippage out of control, there is no

reason you’d sail into this unless you’re certifiably nuts … 20 - 30 PIP changes in

price within seconds, hour after hour until we bottomed and headed straight up

… the YEN order book got destroyed today and that didn’t help things either

… we set sail tomorrow under somewhat “normal” conditions, unless the BOJ

has more “scumbaggery & fuckery” this evening and into the European open

… I doubt they do, but you never know … I’m a little surprised this action from

the BOJ came last night, and quite frankly it didn’t change anything from a

“fun-durr-mentals” perspective … yield differentials are way out of whack and

getting worse by the day and week … that doesn’t spell YEN strength, so I

wouldn’t say USDJPY is out of the woods just yet for further depreciation

… we’ll see.

NO trades today in the PAMM … out of control chaos almost the entirety of the

day, with very unfavorable conditions for traders … early on it was the bid/offer

that was way too high [2 - 5+PIPS, gimme a frickin’ break here!] and after that

settled down, slippage became the primary real issue for most … “Miss Gimpy”

was suffering some Hellacious slippage fills on USDJPY, and I told her that’s why

I was sitting on the sidelines … “I’m not putting up with that “DUH!, market

conditions, DUH!” bullshit these scumbags use as the defacto plausible

deniability on every shit fill off the market”.

What specifically bothers me about the way today went down in USDJPY, is the

way the BOJ sandbagged traders to get them to buy OVER 145, knowing full well

they were gonna come in later and destroy price … forget the Apparatchik bullshit

about the level of the YEN affecting the economy, cuz that’s simply pablum for

Chumps … THEY FRICKIN’ HATE SPECS WHO TAKE ADVANTAGE OF THEIR

IDIOTIC POLICIES AND MAKE MONEY OFF OF THEM … that’s their real gripe,

and today they got a big chunk of the money back in short order for their banks

and life insurers … what scumbags, but we already knew that beforehand, so

nothing new here.

And while I wasted a very good bottle of May 2022 grape juice christening the

PAMM sailboat [there goes $3.99 down the drain], one day ain’t gonna make a

difference in our voyage … especially when I can avoid all of the things that lead

to losses and getting hosed by scumbag bank LP’s … this was one of the worst

days I’ve ever seen for out of control trading conditions matched with above

normal VIX in USDJPY … just a complete joke … I’m absolutely not paying a high

spread and entertaining slippage that would make Vito Corleone blush with envy,

and wonder why the Hell his biz model didn’t include “trading” … he would

literally shit his “big girl panties” if he could see the blatant thievery going on

today … so while the VIX is off the charts, so are all of the negatives for us … no

worries, it’ll be here tomorrow and so will I to take advantage of it.

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

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

-vegas

WHICH FINANCIAL DAM BREAKS FIRST?

 

“The financial propaganda needs to be destroyed!”

On the one hand we got the Lounge Lizards from the FED … when do they pivot

back to QE? … on the other hand, we got the insane BOJ, which at some point

whether they realize it or not, somethings gotta give … either you allow rates to

rise or your currency goes “Peso” … so the $64,000 question is, which group of

Morons [FED or BOJ] goes “deer in headlights” and blinks? … my guess right

now is the FED,, and if that’s the case, the mother of all YEN rallies that will rip

faces off is on the horizon somewhere ready to be unleashed … and if you think

you’ve seen the greatest “freight train trading” markets have to offer, just wait

cuz this one will be one for the record books.

But until that fateful day, it’s more of the same pathetic trading action for USDJPY,

as VIX has fallen off a cliff … eyes I’m pretty sure, fixated on next Wednesday’s

FED interest rate decision … 50 bps, 75 bps, or 100 bps rate hike? … and telling

more than they want you to realize, all the BOJ Apparatchik “blah blah, yada yada”

about intervention north of 145, has only dented USDJPY down to the 143 &

change level … sure enough, some bulllshit to scare some long specs out, but

less than 200 PIPS ain’t exactly a crushing victory for the retarded kittens on meth

that make the rules … 75 bps maybe, but 100 bps rate hike, and IMHO somebody

with some big wallets is gonna challenge the BOJ bullshit and make the BOJ

make a decision to either “shit or get off the pot” … my guess is it’s a bluff, but

we’ll see come next week.

Meanwhile, the Brits have not only lost a beloved Queen, and now got the

man-child Prince Chuck taking over as King Charles III, they also got a currency

going to “Hell in a handbasket”, now at its worst level against the dollar in

decades … in one human lifetime, is there any country so fucked up more than

Britain, with the worst political class, central bank, and a standard of living

approaching Rawanda? … when somebody says “at least we’re not the worst”!,

they’re comparing themselves to Britain … and now they got a babe as PM, who

promptly promotes the same old policies that never have worked, nor will ever

work … but hey, what do you expect from a clueless political class? … they aren’t

gonna freeze to death this winter, and there will be plenty of food on their table I

can assure you … as for the dwindling middle class, good luck.

“Big girl panties” bunched up beyond belief on Martha’s Vineyard, as the elite

hypocrites beating their chests for “diversity” everywhere but their own

backyard, don’t seem to want to roll out the welcome mat for 50 illegal immigrants

sent to them courtesy of Ron DeSantis … “where’s Ex Preezy Empty Suit? … he’s

got plenty of room on his estate for some “diversity”, but alas, he’d rather hang

out with rich white people and talk smack and virtue signal … hypocrites, they’re

all hypocrites, and the biggest racists & bigots known to man … and what they’re

really upset about is being exposed, not the immigrants.

And so here we are on a Friday, where the financial world could care less about

anything until next Wednesday … other markets far worse for trading action than

USDJPY, especially gold and “Stock Bellies” … that’s kinda to be expected when

a central bank is Hellbent on creating a depression and deepening human misery.

And speaking of human misery, there’s the USDJPY trade, which is D.E.A.D.

… stick a fork in it Jim, it’s dead! … I mean seriously, is it Christmas Eve yet?

… talk about a crawl market, this is it … if I didn’t know better, I’d think the

internet was broken … and once again, whaddaya do with dog poo that won’t

move? … EASY PEEZEE: “leave it the hell alone!” … and cuz it’s not moving

anywhere, “false positives” are all over the place.

Again today, no trades cuz there ain’t nothing to do … what an absolute joke of

an excuse for a trading day … blog update on Sunday … no worries, better days

ahead once the Idiot FED is out of the way, and who knows what Monday &

Tuesday brings?  

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

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

-vegas

“MEAT GRINDER” MARKETS

 

“Avoid smacks to the face … markets or women, what’s the difference!?”

Welcome to “meat grinder” August, where market narratives change quicker

than a woman changing shoes … now that the bogus CPI official narrative is in,

look for 1) FED PIE HOLES continuing to “blah blah, yada yada” rate hikes while

nobody cares, and 2) 3 steps up and 2 back for every market that frustrates the

living shit out of both longs and shorts, with the obligatory spikes from Hell [up &

down] that go nowhere but clean out the order books … in other words, scumbag

LP bank heaven, where they can “spoof” futures to their heart’s content, all the

while front running orders with their ILLEGAL OFFSHORE PROP ACCOUNTS

cleaning up … natch, according to the banks, the “natural order of things”.

Overnight very slow and non eventful … “Trading Ratios” [TR] coming into the

New York session here at sunup EST, not even 3, but scraping the bottom of the

barrel in the low 2’s for both gold & DOW30 … hopefully, things pick up, but you

simply can’t trade any market with TR’s this low and expect to make money, cuz

it ain’t happening … PPI on the docket for today at 08:30 AM EST, but does

anybody care? … unless it’s a huge sigma miss to the upside [not likely], it’ll be

ignored cuz the “peak inflation” narrative has taken over for the time being, and

markets got to be shoved higher … and the “pain trade” continues unabated

… how many more ZH articles from the likes of Squid & JPM, to name just a few,

hollering that their clients are frustrated to the MAX cuz they can’t get back into

“Stonks” without buying the top, convinced that once they do the bear market

continues and leaves them holding the proverbial bag of high priced dog poo,

and it convinces them they are the biggest “Chumps” [a/k/a “Muppets”] the

world has ever seen? … and so the “grind” higher, helped along by the usual

suspects that make it even more painful when they come to screw with your

account … quite frankly, I wouldn’t be surprised to see ATH’s in the

“Stock Bellies” by Christmas!

Can we ever get away from this horseshit of “speed of light … crickets”? … is it

just my imagination, or are we getting this almost every single day? … again

today, with the PPI, just completely bat shit crazy [BSC], and you’d think inflation

was ZERO given the FOMO panic to buy anything that’s a “Stonk” … spikes from

Hell [up & down] now a “du jour” occurrence, with many easily exceeding 40+

index points in microseconds … and that’s a clear recipe for 100%

“scumbaggery & fuckery” from the scumbag LP’s, where they use the

“plausible deniability” of market conditions to screw anybody who pushes a

button on the order ticket … this isn’t trading, this is simply roulette … “oh, so

sorry for your loss … please come again!”

Meanwhile over in gold, that market doing a great impersonation of life inside

the county morgue … in other words, DEAD! … quite frankly until the narrative

of “peak inflation” changes, gold is gonna find it tough sledding, IMHO, breaking

through 1800 with any conviction … the bullion dealers are quite content to see

you bang your head against the wall buying when it’s going nowhere fast … they

just wait you out, and then when the buying dries up, be the first to offer it lower

where you’ll sell it to them … in other words, the “Comex Con Game” … gold will

have its moments, but right now ain’t one of ‘em … drifting lower now, and rallies

have no “oomph” to them at all … looks like the 1770’s [or lower] here we come.

And now that the London Fix is out of the way and Europe is closed for the day,

time for another “screw job” from the virus scum on Wall Street, where almost to

the second after the Fix was finished, the DOW30 headed lower in earnest

… having sucked in every CTA [Commodity Trading Advisor] & FOMO spec on

the planet with their respective buy signals getting hit off, now comes the

“awakening” of what happens to positioned Longs when SHTF after a way over

extended runup … “yes Skippy, you bought the top … congrats!”

And as I have said before repeatedly, it isn’t the gains in the DOW30 that’s the

problem, it’s the red spikes down … you simply got no idea where they are

headed, and if you have to sell on a red spike lower, I’ll be hearing your scream

over the horizon as it hits the Caribbean … and you won’t at all like the fill from

the scumbag LP, where the dirty little secret is they can fill you wherever they

want, they don’t have to be “on the market”, and quite frankly aren’t! … and when

you get this “speed of light … crickets” bullshit, it invites spikes from Hell as a

matter of course, cuz everybody is scared to death of selling a big red spike

down, so in effect it becomes a self fulfilling prophecy … and so far today just in

the morning of New York, there have been a boatload of spikes OVER 30+ index

points in literally microseconds … how’s that for slippage Skippy? … 4 seconds

later it’s 20+ lower and now what? … and it starts with these BSC “lightning

strikes” and proceeds from there … well, now that everybody in the positioned

world is long “Stock Bellies” going into the New York afternoon with the

criminals at Squid, JPM, and the other assorted virus scum of Wall Street, it

could get a little dicey if price starts to leak water from the 33,450 level on the

DOW30 … sell stops galore, which a few hours earlier nobody thought it was

possible they would be in play, now suddenly are in play … gosh, those nice

fellas at JPM surely wouldn’t go after sell stops this afternoon would they?

… Bwahahaha! … of course, given the chance, I guarantee they will lead

the charge!

And since the London Fix, DOW30 rallies have suddenly become vastly muted

in scope and duration … just another “coincidence” I’m sure … no “oomph” to

buy signals, the HULL 100EMA sloped lower, and it looks for now like longs could

be in for some trouble going forward to the close … we’ll see, but when the HULL

100EMA is sloping lower, you have got to be really careful about buy signals in

the DOW30, cuz the turn back lower can be fast and vicious, easily wiping out

any gains within literal seconds … and after this runup over the last 2 - 3 weeks,

the sell stops at lower levels could get very mean and nasty in the days ahead

… not predictin’, just sayin’! … and if the ball gets rollin’ lower after 2:30 PM EST

today, the potential for “look out below” becomes greater and greater as longs

panic to GTFO.

And while we hang here at the 33450 - 33500 level in the DOW30, you have to

understand the mindset of those wanting to see price lower … if they take it lower

too quickly, the BTFD’ers will come in, but if they wait until the last 90 minutes to

the close, or even closer than that like the last hour, the BTFD’ers won’t come in

cuz there’s no time left in the day … the logistics right now here at about 1 PM

EST, simply stink for a higher price … meanwhile gold is DEAD … “stick a fork

in it Jim, it’s DEAD!”

Anybody else notice how “Stock Bellies” price action simply evaporates once

Europe closes, where once again it’s mindless drift run by the Wall Street bank

scammers? … BSC to “snoozefest” so fast it takes my breath away, and

anybody caught in any of these C-4 price explosions from earlier, has nowhere

to go … if I didn’t know better, I’d say it was preplanned, but gosh I don’t want to

elevate “conspiracy theories” against scumbag banks who are known criminals

for their precious metals shenanigans … oh wait, the link below.

https://www.zerohedge.com/commodities/jpmorgan-precious-metal-traders-

found-guilty-spoofing-had-power-manipulate-global-price

Again, like previous days, cuz of the “speed of light … crickets” bullshit we have

to deal with that robs markets of proper functioning, today only sees one decent

algorithm buy signal in the DOW30 … TURNKEY PAMM UP FRACTIONALLY

… nothing like getting bent over a railing out back and getting robbed, mugged,

and then raped by some scumbag LP Turnkey uses … with the usual 3 index

point spread, entry got tagged an additional 3 index points of slippage, and after

the market had rallied to 22 [on it’s way UP to 26], my liquidation fill ON A GREEN

SPIKE UP, got filled at 14, for a nice 8 index point thrashing on pure bullshit

thievery … and therefore a halfway decent scalp turned to dog shit, thank you

very much crooks & thieves … blistering Turnkey’s ears, they could care less

… and so once again, after seeing this, I’m not in the mood to entertain further

scalps given these conditions … why would anybody in their right mind agree

to this, and/or think this is normal? … sure, I’m here to make money and trade

for the PAMM, but WTF is anybody supposed to do when you get held up at

gunpoint? …come back for more? … umm no, wait for better conditions, at a

minimum where this horseshit of “speed of light … crickets” is absent … and

that sure as Hell ain’t today … and sure, gold is an option, but it’s playing DEAD

today, so there isn’t anything to be gained over in that market.

Put the “big girl panties” on and hold to discipline & patience, is all that can be

properly done … not every day is like this bullshit … too many to be sure lately,

what with central banks, NFP idiocy, and now inflation numbers, but that’s what

is required to deal with in the “Stock Bellies” paradigm … water under the

bridge, onto tomorrow.

… outta here … “The future’s so bright I need 2 pairs of sunglasses 😎😎, and

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

-vegas