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

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

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

NOTHING BLINDS LIKE PSYCHOPATHIC ASSET BUBBLES

 

“The current state of BTC & ETH!!”

With government sprinkled “Holy water”, let’s grow all of the asset bubbles! … as

I said yesterday, it’s the only way out of the economic mess they themselves

created … instead of fiat to zero and then pay it back, it’s just the reverse

… grow the bubbles so that debt looks cheap to buy back … and here we go!

… so far early today, BTC looks to take out 70K, something a month ago would

have seemed like “crazy talk” … ETH looking to vault 4K, and the “buy early”

crowd cuz ETH doesn’t have ETFs yet [maybe Summer, maybe not, who

knows?] … all systems are “GO!” to grow the bubbles … those with assets

benefit, those that work for a living don’t … nothing new there in the FUBAR

Banana Republic world.

With another $150+ blast higher overnight in ETH, just another day coming up

in NY, where we can sit and do absolutely NADA in terms of trading action

[maybe] … although it’s early yet, market acts like it will never go lower again

… and the higher it goes, the more money that gets thrown at it … human

psychology dictates this won’t end well.

I find it fascinating that both gold and the “Stock Bellies” are acting as badly in

terms of trading action as they are, given their respective price levels … both

stink to high heaven … ETH is about 50% higher than gold, has a comparable

bid/offer spread [gold about 35 - 40 cents, and ETH less than 50 cents most of

the time], and HAS ABOUT 4X HIGHER RANGE AND MEDIAN THAN GOLD, AND

TRADES 24/7/365, and is not manipulated by the COMEX / LBMA / FED / BIS

Corruptocrat cartel … and most days gold is dead … like it or not, and most

don’t, ETH BEATS THE HELL OUT OF GOLD AS A TRADING VEHICLE HANDS

DOWN! … ‘Stock Bellies” [any of ‘em] can’t even move 1% of notional value

they’re so manipulated … they’ll grow as bubbles cuz the FED wants them to,

but what you can’t control will grow exponentially faster and go farther!

Going forward into 2024 and beyond, it’s gonna be a constant battle of human

psychology [GREED & FEAR] versus the unspoken desire of “grow the bubble”

as fast as humanly possible, and I wouldn’t be surprised at all if central banks

are also buying Bitcoin & Ethereum with both hands [Shhhhhh, don’t tell

anybody!] … after all, they got fiat to pay back somehow, so why not pay it back

when BTC is at $10 million per 1 BTC and/or gold at $50K per OZ.? … and in

addition to that, all their Bud Elites will get richer in the process … what’s not

to like? … except for the working poor, of course, but who in government

gives a fuck about that? … while they make Billions, they know Sheeple can

be bought for pennies on an EBT card.

Into the NYSE day, and everything is blowing up … BTC hitting a new ATH, and

right along with it higher spread and of course slippage will be horrific on fills

… gold and “Spoos” in their respective “extend & pretend” market [cough,

bullshit, cough] hoopla, with neither doing much of anything now that NY is in

session … blow the bubbles up, protect them in New York, then blow ‘em up

some more … get the ChiComs to help of course, and what’s not to like here?

… with the implicit “open secret” of government blowing asset bubbles to

infinity [they got no alternative], no telling how high FOMO can go before it all

crashes & burns … we’ve never ever seen this before, so who knows? … what

do “billions” even mean any longer?

I’m replacing BTC with XAUUSD [spot gold] for PAMM trading … BTC at Coinexx

is simply not worth the effort, as the spread blows out too often [today sees at

times $50 - $100], and slippage is horrific [add another $100 … WTF!] … right

now ETH is better than gold for trading, but how long that lasts is anybody’s

guess … with a new ATH in gold WITHOUT a drop in rates, and in fact rate CUT

expectations have done nothing but come down over the last 2 months, and the

Uniparty doing their best to print fiat and depreciate the dollar, gold might have

a shot at trading better going forward … we need better ranges & medians for

sure, so we’ll see … the gold “vegas mq4 code” is over in “Download Links”

… currently RM= 3 & 4 on the m15, and RM=1 & 2 on the m1 … not saying I’ll

trade gold every day, but it’s on the list to be looked at when I come in for the

start of my day … right now, ETH is first, gold would be second, and bringing

up the rear with what can only be described as pathetic, is the “Spoos”.

And suddenly, markets get heartburn an hour before lunchtime EST … and

wasn’t that fast? … sell stops unmercifully butchered … no matter say

HODL-ing longs, “tis a mere scratch!” … and with this blunt instrument trauma

to the head, I’d be somewhat surprised NOT to see lower prints tomorrow for

BTC & ETH … even with this sell off, ETH up 7 trading days in a row, and a

stunning 18 out of 21 trading days approximating $1,500 in gains from bottom

to top … trees only grow to the sky in fairy tales, and while there’s most likely

a Helluva long way to go before we reach any kind of big blowout historic high,

FEAR & GREED [as mentioned before] have to be considered along the way

… bigger money needs to buy at lower price, and retail specs ALWAYS fill the

bill … always have, always will!

Now into the NY afternoon, and unless we get another tsunami wave of selling

later towards the close, as things now stand, BTC with about a 10% move low

to high, ETH about 8%, gold about 1.5%, and “Spoos” a hair over 1% … for you

Biden voters, considering spread and minimal slippage, that makes ETH the

clear winning market for trading action … the one disadvantage is the low

leverage versus gold & “Spoos”, but hey nothing is perfect now is it?

… multiple trades for the PAMM today in ETH, and for a while it looked like

just another day of bullshit one-way action, but corrective activity came along

and WE’RE UP SLIGHTLY … made back all of the loss from the BTC clusterfark

fills on Friday, plus some, so we’re up for the month going forward … hopefully

with some “profit taking” [thank you Bob Pisani, CNBC perma bull hack], the

rest of the week will give us better opportunities than what we’ve seen recently

… we’ll see … onto tomorrow!

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

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

-vegas