SUNDAY UPDATE: CHAOS REDEFINED

 

“Precious metals and crypto!!”

Directly below, this week’s stat facts for our PAMM markets.

click on table to enlarge

VIX ebbs and flows like the ocean’s tides, but what disturbs me the most

heading into this week is that the percentage of trading action as defined by

the “New York session median / the daily range for the day”, has fallen below

50% for Ethereum [ETHUSD] and Bitcoin [BTCUSD] … and what that portends

for both, IMHO, are alternating trading days of pure shit with days of bat shit

crazy [BSC] action … one day a large blow out range and the next it acts like

it’s closed … this is the kind of bullshit that infects FX pairs, purposely designed

to screw specs by the central banks by creating conditions where VIX is highly

inconsistent … and that means banks win and specs lose.

On the other hand, both gold and silver are seeing increased VIX, where NY

headlines about 75% of the daily action in less than 8 hours … and while things

can change, they don’t appear imminent and I don’t foresee gold going

“sleepytime” with a significant drop in range … maybe some, but not enough

to make a difference. … the FED is close to puking gold shorts HARD, and with

solid foreign central bank demand for “bigly & yuge” size, I don’t know how

they see getting out of this FUBAR clusterfark without losing hundreds of

billions of dollars … and that most likely will see gold benefit along with silver.

I’ll move back over to ETH when it makes sense to do so, but 48% versus 75%

in gold is a wide differential and makes for better trade conditions … starting

the week, I’ll be back in gold … onto the week!

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

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

-vegas

OF COURSE IT’S “RIGGED” … IT ALWAYS HAS BEEN!

 

“When you’re on the wrong side of a trade in a rigged market!!”

They trade billions, if not trillions per day, yet they never get into trouble with

their trades … why is that? … cuz they’re sooooo smart? … maybe it’s cuz of

what I’ve known for decades, first observing it in trading pits … the data game is

“RIGGED”, and they are positioned perfectly for what is coming at the appointed

time … doubt me? … well now we know from the BLS it’s true, thanks to ZH

… the link directly below.

https://www.zerohedge.com/markets/scandal-rocks-bidens-labor-dept-lying-

about-sharing-non-public-inflation-data-secret-group

I have maintained for decades, that ALL REPORTS ISSUED BY GOVERNMENT

[including the FED] be done on Saturday mornings … this way ALL MARKET

PARTICIPANTS, LARGE AND SMALL, CAN ASSESS HOW THEY WANT TO

TRADE COME SUNDAY NIGHT ON THE OPEN AND BEYOND DURING THE

WEEK … but that ain’t ever gonna happen cuz scumbag LP banks and HFTs

have got to have the ability to screw over institutional & spec accounts for all

they are worth, and since the POLS, Apparatchiks, & regulators want their

“skim”, it’ll continue and never change.

Well, that escalated quickly didn’t it? … Whoops!, not even the whiz kids can lie

about this one, a little hotter than “Taliban Joe” would like to see, and more

importantly the 10 YR. Treasury over 4.5% yield now and rising … no worries,

just print MOAR! … consumer prices, as measured by the government which are

woefully inadequate as well as inaccurately underreported, are up 19% since

“Diaper Joe” has been Preezy … not a single month this Doofus has been

Preezy have prices fallen … worst Preezy in history, and at least Jimmy Carter

feels a sense of relief! … digging through the data, I do note that typewriter

ribbon and horseshoes fell in price, so at least the Amish might be happy

… question is, though, with everybody and their pet rabbit positioned long gold,

where are the stops you absolutely know the bigger players have their eyes on?

… wait for it, it’s coming!, and you won’t need me to tell you about it, cuz you’ll

see the down “bigly & yuge” red spikes on the m15 and the m1.

With today’s casino action brought to you by government, a few things need to

be mentioned that have a direct bearing on trading these more volatile markets

… 1) especially with “important” numbers being released as determined by the

propagandists on Wall Street, you need to recognize that the RM levels upon

release of data DON’T MEAN MUCH OF ANYTHING! … meaning panic has no

bounds and can’t be measured by us cuz we have no way of seeing order flow

coming through institutional order desks … 2) RM levels currently constructed

for gold and “Spoos” are undervalued and need to be raised to higher volatilities

… RM=4 levels should in no way, at least theoretically, be hitting this MAX as

often as it is … LESS THAN 5 TIMES PER YEAR, NOT EVERY DAY WE TRADE!

… and 3) I’m adding spot silver [XAGUSD] TO OUR PAMM TRADING LIST MIX,

BRINGING OUR COVERED MARKETS TO 5 … the “vegas mq4 code for support /

resistance levels” based on volatility is available now over in “Download Links”

for silver … current RM levels are RM=1 & RM=2 for the m1 chart, and RM=2 &

RM=3 for the m15 chart … I’ll be updating the 20 Day Range MA & MEDIAN, and

I’ll have new higher VIX RM levels for gold and “Spoos” on the upcoming

Sunday blog update.

Now that silver has broken through $26 per OZ., going forward there should be

some really good trading opportunities … better than gold I would say with a

better bid/offer spread of usually under 1 penny per OZ., but will blow out on

sharp moves up/down … quite frankly, paying 35 - 40 cents per OZ. in gold AND

having to deal with sometimes horrendous slippage is a pain in the ass … I don’t

know how slippage is going to be in silver, but I don’t see how it can get any

worse than gold … in any event, I’ll start with low volumes and work from there

… GiddyUp! … once up & running, let me remind traders, though, trade silver

based on silver signals, NOT on what’s happening in gold! … yes, they strongly

correlate positively, but different dynamics for different markets … it’s not even

11 AM EST in NY, and we got a DOUBLE REVERSAL GOING IN SILVER, with an

approximate 89 cent range [so far]! … and as you’ll see, RM=2 on the m15 chart,

and RM=1 on the m1 chart, hold very well … better really … EXCEPTIONAL!,

IN FACT!

With the exception of the 2 crypto pairs BTC & ETH, where spreads and very high

margins require a lot more money in your account, and thus make them less

attractive than the other 3 pairs, all 3 of SP500, GOLD, & SILVER have moved

quite well today … out of the 3, gold the most bat shit crazy [BSC] with price

quite erratic versus the other 2 … blink your eyes, and it can get quite nasty

… the “Spoos” are getting a much needed correction, and going forward it’s a

question of where the support is on the way down … and just as an aside, the

“Spoos” are the only ones we trade that trade inside an “88/6/6” paradigm that

I have written about extensively before … the entire system is rigged to see

“Stonks” go higher, and stock markets don’t exist so prices can go lower

consistently … the “Plunge Protection Team” [PPT] certainly make sure of that!,

right along with corporate buybacks … and IMHO, it makes complete sense to

trade this market from the long side ONLY, but since I’m not your MOM, you

can do what you like.

Time for FED Lounge Lizards “minutes” from the last rigged meeting … just what

we need today, more VIX! … aaaaaaaaaaaaand, nobody gives a shit … rightly so,

as why would anybody in their right mind listen to these Elite assholes who spew

propaganda daily with the intent of manipulating “Stock Bellies” along with other

markets? … bought and paid for!

One trade today for the PAMM in gold … PAMM UP FRACTIONALLY … not

interested in holding anything for anything but a scalp, and this trade lasted far

too long for my liking … of course, 5 minutes later it takes off to the upside, but

that’s water under the bridge and I don’t really care … hopefully metals can

correct from here, although I’m not looking for much … “Stock Bellies” look to

be the most vulnerable, as headwinds mount via rates and geopolitical events

… onto tomorrow!

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

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

-vegas

ANOTHER DAY OF THE CHICOMS VERSUS THE FED

 

“Ending America one day at a time, until they have ALL THE GOLD!!”

Well the world didn’t end, and that got some on the Sunday night open to bail on

gold longs … but then here comes the ChiComs, and Bingo!, Bango!, Boom!,

gold goes up at the China open about $50 in an hour and 45 minutes to hit

another new record all time high [ATH] at #2354 per OZ. … they want the phyz

… you think they care about a few dollars per OZ., or the games the FED

plays while they sleep? 

One thing is for sure in this new paradigm of gold trading, and that’s about 90%+

of the time whatever China does, you can expect the FED to do the opposite

when NY rolls around … rarely do all 3 world sessions [Asian, European, & U.S.]

go in the same direction … and what we’ve seen lately with few exceptions, is the

ChiComs “pump”, and the FED “dumps” … although it works in reverse as well

… days where Asia and/or Europe attempt to go lower have seen strong rallies in

NY … how much longer the FED can keep printing dollars via the CNTRL-P

machine and giving said funds to the “Rally Protection Team” [RPT] and/or

selling gold by borrowing gold from the GLD ETF remains to be seen … they’re

losing hundreds of BILLIONS OF DOLLARS!

Meanwhile crypto [BTC & ETH] goes bat shit crazy [BSC] on the Asian session

open as well, opening well past 20 Day Range MAs and/or Medians from Friday’s

closing levels … and that’s just on the open! … WTF! … and all of this with the

backdrop of higher U.S. Treasury yields, which should in theory put some kind of

cap on gains … NOPE! … not here, not now! … quite frankly, the world is figuring

out that U.S. econ stat numbers are complete BULLSHIT, and what matters is not

some whiz kid calculation, but the fact the Uniparty is borrowing $1 TRILLION

DOLLARS EVERY 100 DAYS WITH NO END IN SIGHT TO INCREASES FROM THAT

OBSCENE LEVEL … cuz if shit is sooooooooo good right now, what happens to

borrowing when a recession or depression hits? … $10 Trillion every 100 days?

… “it’s all a government house of cards, ready to be blown over at a moments

notice!” … throw away past gold charts, this BULL MOVE has the backing of

EVERY CENTRAL BANK IN THE WORLD BUT THE FED … “bigly & yuge” phyz

bids are underneath the market, and what they’re saying to the FED is simple

… “go ahead, hit my bid and make my day!”

What concerns me about gold presently is its rapid ascent to new ATHs, with nary

a corrective phase to speak of, thus making longs “comfortable” … and if there’s

one thing I know about gold after decades of trading it, is that when you feel

comfortable in a position, look the fuck out for incoming … they ain’t gonna give

you a second chance … not every dog gets to ride atop the fire truck! … sure,

there are plenty of reasons to feel good about gold’s prospects going forward,

not the least of which are the ChiComs backing it for 1) phyz for the Yuan

convertibility, and 2) the ChiComs are actively pushing it for Chinese citizens for

investment … that’s over a billion people, and I don’t see them walking away from

that … but the ChiComs aren’t stupid either … they’re better capitalists than the

virus scum on Wall Street, and so their buys are strategic … nothing they’d like

more than to buy a sell stop from a retail or institutional spec on a waterfall

… quite frankly, we’re just a tad overextended on the upside, but that doesn’t

mean it can’t get more overextended-er-er in a FOMO up move … I’d feel better

about gold if it can test 2300 this week at some point in New York trading … very

large phyz bids probably around the 2285 - 2290 level, and that should hold

… how long can gold go higher with 10 YR. Treasuries close to breaking 4.5% on

the upside? … we’ll find out with Wednesday CPI and Thursday PPI numbers

from the whiz kids, but with global tensions heightening and oil headed north

to $100 / bbl., do these numbers this week really matter? … quite frankly, only if

they’re “HOT”.

Into afternoon trading, and both ETH & “Spoos” a total joke … there just isn’t

anything there there, but chop and heartache … “do I have to move to Thailand

to get consistently good trading conditions during the Asian and some of the

European sessions? … apparently, I do!" … talk about a culture shock, that

would be it! … world peace breaks out & rates go higher still, and it’s having no

effect on gold, now higher on the day again … I’ll buy breaks, but I’ve never

gone FOMO cuz it’s a losing proposition, and I ain’t gonna start now … 2 really

good trade opportunities today in gold, and unfortunately I missed the first one

taking the dog out to do his biz … gone about 7 minutes, and in that time the

m15 goes to level 4, then rallies sharply … next time you can pee on the tile

floor … one trade for the PAMM, and it was the second time down … got long

and for my money it took too long to rally … PAMM UP SLIGHTLY … and after

diddle fucking around some it took off again headed north … really inexplicable!

… 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: LOOKS CAN BE DECEIVING

 

“Seems legit to me!!”

Let’s start today off with the weekly 20 Day ranges & Medians for our 4

markets … BTCUSD, ETHUSD, SPOT GOLD [XAUUSD], & THE SP500

[“SPOOS”].

click on table to enlarge

While crypto slows down some, which is to be expected, gold has broken above

the $30 mark for daily average, where we’ll see if that holds or is extended further

… and as good as that sounds for gold, there are some “bigly & yuge” problems

with trading it … the spread could and should be better, and slippage on fills is

ALWAYS a problem with the asshole HFT LP’s … and what that means in practical

terms is that your risk on any trade ain’t what you think it is … quite frankly it’s

open ended in the worst case to $10 - $15 per OZ, and most likely to the $5 level

on other occasions.

On the other hand, consider the “Spoos” … NYSE median consistently above 30

index points, and while the micro futures usually trade close to or over 1 million

contracts a day [1 lot = 5* index], the interesting item to note is that volume is

almost always about 5X LARGER THAN OPEN INTEREST [OI] … As an aside, it’s

a couple of notches lower in gold … and that means it’s a day trade / scalp

market by the masses in  the U.S. … the rest of the world hardly trades futures,

instead trading CFDs cuz futures are taxed and CFDs are legally considered

gambling bets and NOT subject to tax.

The problem with the “Spoos” CFDs are the brokerage houses that offer them

and the scumbag banks or HFTs [most likely] that make a market in them … and

what you’ll find is that the houses that offer great conditions frown on scalping or

outright ban it … Coinexx is “middle of the road” when it comes to ranking, and

doesn’t mind scalping, but what happens if your trades are too fast, is that the

LP you opened the trade with gets really pissed if you consistently “pick them

off”, and in order to prevent this they’ll fill your liquidation price way off the

market … you may think you should be up ½ an index point, but your fill says

your down ½ an index point, as they fill you a full index point under the current

bid on your screen … scream at ‘em all you want, they don’t care.

But overall, outside of the occasional straight up / down all day long, which

infects ALL MARKETS to some degree or another, you can make a case that the

“Spoos” are actually a better trading market than gold or crypto … two reasons

… 1) better risk profile, and 2) somewhat better up/down moves during the NYSE

day … not every day to be sure, but most days … it all depends on the spread

and how the main LP at the house your at fills orders … some good, some really

suck … and for whatever risk profile you want, if you want higher consistent VIX

then trade the NDX100 … the spread is higher and the slippage greater, and along

with the DOW30 at Coinexx, both suck as trading vehicles cuz of horrendous

slippage IMHO … your house may be different and better, and it could be worse

as well … in the days ahead, I most likely will do some “Spoos” trades, and we’ll

see how we get treated … onto the week.

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

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

-vegas