DEJA VU … ANOTHER “ONE & DONE” MUGGING

 

“The wisdom of Yogi!”

Well, that was exciting yesterday … for about 15 minutes … then it’s over, and 

with heads & limbs severed from the shorts in the crowd, there isn’t another 

buyer in sight … which of course, means it’s time for bullion dealers to take 

over and slowly sell it off back down. Overnight, the Asian session got the call 

from the law firm of “Zero, Zip, Zilch, & Nada, LLC”, and proceeded to do 

absolutely nothing … Europe saw some light buying, and after taking out 

yesterday’s high by a few pennies to set off buy stops from the shorting crowd, 

it’s been a straight ticket back down … deja vu baby.

And so, what we’re left with, is what we’re always left with in gold … the  

“Comex Con Game”, and the “one & done” nature of gold, which leaves 

nothing but destruction in its path … “cuz the dirty little secret is, if you get 

caught in this the wrong way, you’re fucking burnt toast with no way of making 

the money back anytime soon”. For what seems to me like the 49th million 

installment & iteration of “let’s fuck specs again” with zero follow through, you 

can’t help but think that at some point, some of these people with staggering 

losses, will simply leave and never come back … “sure, everybody has losing 

trades, but to lose the same way again and again by dealer manipulation of price, 

along with the guaranteed stop hunts, is something else again entirely … some 

days, I marvel that a market still exists, given the level of “scumbaggery” & 

bullshit Pol, Apparatchik, and general market abuses leveled daily”.

As yesterday so amply proves, again it’s the Apparatchik Spicoli [a/k/a FED 

chief honcho Powell], that provides the spark that lights the fire, that makes 

markets move for 15 minutes before it ends spectacularly in flames for gold 

… EXIT QUESTIONS [that of course will never be asked by the MSM 

financial press, but should be]: 1) did the bullion banks know ahead of time 

your remarks, and 2) were said banks positioned for the “surprise” dovish 

 statements you made? Ask those questions, and you’ll never be invited back 

to another FED presser ever again … softball questions please, nothing 

 “controversial” or intimating “scumbaggery” on the part of the holy & pure 

banks or the FED … don’t believe me? … “go find Kathleen Hayes, former 

CNBC infobabe, who gave a hard time to a FED governor once during an 

interview, and next thing you know she’s outta the biz and a greeter at WalMart 

to pay the bills … yea, it’s real”!

The New York session today, starts out with a bang … clean out sell stops, and 

whip it around for the kill minutes later with the buy stops at the old high 

… nothing major of course, we’re talking pennies here, but enough to trap 

longs and then shorts … rinse, repeat, and once you orient your thinking into 

this mode, it’s easy to see the “Comex Con Game” Eric Sprott has written 

extensively about for some time.

Today’s gold market sees the same old shit, different day syndrome … no 

volume, no liquidity, mystery ticks & spikes from hell that go nowhere, stop 

hunts on both sides, and a market stuck in a $3 range for 7+ hours running 

… other than that, everything is fine. “Just another “one & done”, thanks for 

playing & contributing, and come back again real soon, Ok”? Mid morning in 

New York, and the “Comex Con Game” is in full effect.

Want an example? … well, directly below a closer look at XAUUSD on the M1, 

with bullion dealer “scumbaggery” in full effect … first the sell stops to clean 

out longs, then the buy stops to clean out shorts and get you long again, 

followed by the appropriate “Thelma & Louise” ride to the bottom of the 

quarry … “hey, it only hurts when you hit the bottom”! Add it all up, and 

you’ve been screwed twice and the market hasn’t gone anywhere or done 

anything.

 

click to enlarge

And when you have tight ranges, non-existent volume and even lower liquidity, 

this is what you can expect, which is why I’m on the sidelines during this 

clusterfark cuz I don’t want to get caught in the dealer bullshit stop hunts, that 

I know from experience they’re gonna pull, when Mr.. Jack Squat is around 

and nothing is happening … bullion dealers will make shit happen, only it isn’t 

gonna be to your benefit and profit. The tighter the ranges, the more this kind 

of FUUBAR trading scenario has a high probability of being seen … bullion 

dealers got to make their money somehow, some way, and if volumes are low 

they resort to shit like this almost without fail … why would today be any 

different?

This wouldn’t even be an issue if the market had a decent trade flow 

… unfortunately at present, this is a sick market that only sees any kind of 

range when there’s news that affects interest rates and/or USDCNH … other 

than that, it’s a bucket of shit … and today is a bucket of shit playing out right 

before your eyes if you’re watching it.

All told, it’s been a $3 - $3 ½ dollar range for the last 12+ hours, with more 

than a bushel basket filled with bullion dealer “scumbaggery” of great 

magnitude … WTF is anybody to do in this but lose money? … you risk dollars 

to make pennies, and that’s assuming 1) they behave while your in [a big if], 

2) stop hunts aren’t set off, and 3) the slippage is reasonable … any one of these 

miss, and your on the negative side of the equation with nowhere to run and 

make it back … the only thing that makes sense is to “sit on your hands” and 

refuse to be played.

 No trades today in the PAMM or C2 options signals advisory.

Maybe the FOMC minutes due out at 2 PM EST makes a difference, but that 

comes way too late in the day unless you like the “pain trade”. Just nothing to 

do today but observe a market that is going nowhere and doing nothing. Like 

I said; “no volume, less liquidity, & dealer “scumbaggery” = me on the 

sidelines … not enough volatility to get legit algorithm signals, and the market 

does nothing but drift".

And just to put a cherry on top of this total clusterfark of a day, gold has puked 

violently on sell stops, down to the 1222 level before bouncing … “how many 

times today have we seen this bullshit? …. at least 4 that I’m aware of … like I 

said, they got to make some bucks some way if volumes don’t support the cash 

register … criminal comes to mind, but that only happens in fantasy land … WTF 

is all I can say while shaking my head, glad I’m not in this bullion dealer induced 

bullshit hell”.

Onto tomorrow … while I generally think this shift in interest rate policy is 

supportive of gold, there’s massive resistance at the 1230 - 1236 level, followed 

quickly by the top of the last few months at 1243 … up and until the Trump / Xi 

“lovefest” is over and done with at the G20 this Saturday, and then the FED 

interest rate decision in mid December, it’s gonna be a tall order to see gold 

vault higher without some earth shattering news to support the move … until 

then it looks and feels like chop to me … we’ll see what happens.

PAMM Spreadsheet will be back up very soon

I’m outta here … until tomorrow mi amigos … Onward & Upward!!

Have a great day everybody!!

-vegas

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DÉJÀ VU BABY!!

 

“If baseball doesn’t work out, come trade FX … your brain is perfect!”

 

Take everything I wrote about yesterday, and scroll today’s M1 in EURUSD; “you’ll be quoting Yogi before you know it”. Criminal to be sure, but there isn’t anybody interested in stopping it. Once we get into next week, this type of BS should go away for the most part … at least not nearly as prevalent as this week.

Short post today … it’s Friday before New Year’s Eve on Sunday, and nobody cares much about trading. I’ll have post on Monday, setting up the New Year and what I’m looking for.

I go to place a limit order to sell above 1.20 as EURUSD is making new highs above 1.19970, in case they decide to run the stops above the century mark, and when I place the order … BAM! … you’re filled buying at 1.19987. Wait … what? And by the way, this isn’t the first time this year this has happened … Ok, so I figure, well as long as I’m long, either fish or cut bait … break 1.20 or go down and let me lose a few PIPS … it chose the later of course … mistakes or errors almost never work in a trader’s favor. Oy vey. After a chat with tech support at Turnkey, found out the problem … shouldn’t ever happen again.

Other trades for very small profits, as the market went in our profit direction, but then came back quickly. All totaled up, looks like collectively down about $30 something … but no matter, it could be up $30, I don’t really care. I don’t want people to misunderstand, sure I want to make money, but since I started trading EURUSD, volumes have been small for a reason and we’ve either been on the cusp of Holiday markets, or now smack dab in them. Point is, there is more at stake these last few weeks than whether I made $20 that day; what’s at stake has been 1) trading pattern, 2) action at or near high/low of the day, 3) gap and spike action, 4) scumbag LP willingness to execute orders at the market with very minimal or zero slippage, and 5) trade attributes as the market shifts from Europe to the U.S. and patterns of behavior consistently seen. All of this matters, and I’ve used the time to our advantage.

Quite frankly, today, this week, the whole month of December, and getting us to this point where we have a solid, good, non-correlated market to trade, points to Tuesday of next week … start of 2018 … for larger volumes, much bigger profits, and staying in trades longer. The monies up ‘till now in December, won’t even be rounding errors for what starts Tuesday … that’s the context of why I say I don’t care about whether today is ± $30, cuz come Tuesday it won’t matter going forward.

It’s taken all of 2017 to find the correct market to trade … been right in front of my face the whole year, EURUSD being about the simplest pair on the board … over looked it, and that led me astray, which is my fault, and bluntly speaking should have been in this thing from the Spring on … the key now, is that the Holidays are over, and trading comes back to normal. In 2017, I battled the central banks in first gold, then the stock indices … wasted too much time in retrospect with them, cuz they are most definitely NOT the markets they used to be … then I had to handle 2 CAT 5 hurricanes, within 2 weeks of each other, that put me down for September, October, and half of November; 10 weeks on ‘Gilligan’s Island’ that was truly a nightmare; all the while markets move massively and I’m left sitting watching cloud formations wondering what’s happening in the world. Well, all that brings us to now … and it’s time, now that the correct market is FINALLY in play, to start the heavy lifting and bring about hefty profits … and while I apologize for the detours, I intend to do that, and the journey starts Tuesday. Onward & Upward!!

I went to Best Buy and [see my shocked face], the “whiz kid” couldn’t figure out the software bug on the spreadsheet … so he got his boss over and his boss says he can do it tomorrow [tonight] at 6, cuz right now he’s got 3 other things to fix before they close at nine; so, I’ll head over again tonight and hopefully, the level 2 boss can figure it out. He asked for my name; I told him, “George Costanza” from “bizarro world”. Anyway, when it gets fixed I’ll put it up. I’m outta here … until Monday afternoon mi amigos; please have a safe New Year’s Eve and don’t party too hard [yea right].

Have a great New Year’s weekend everybody!

-vegas

OUR TURNKEY FOREX “PAMM/MAM” IS NOW OPEN AND OPERATIONAL; SEE “PAMM/MAM MONEY PROGRAM” IN “DOWNLOAD LINKS” SECTION IN RIGHT HAND COLUMN FOR DETAILS [VIEW ONLINE AND/OR DOWNLOAD] AND START YOUR JOURNEY FROM WHERE YOU ARE AT TO “ESCAPE TO SUCCESS”!