“Buckle up Skippy … you’re being hunted!”
Yesterday was as ugly a day as I’ve seen in a long while … stock indices or gold,
take your pick, the carnage was unreal … one of the largest range days I can
remember, you have to go back to election day 2016 to see anything resembling
yesterday … and right along with that, VIX went through the roof … gold simply
untradeable, unless your desire was to lose money … $2 PLUS ranges on the
M1’s making anything a fool’s errand … at least the DOW30 kept the spread at
1 - 2 index points … how it moved was another story, with a wicked ass drop
coming thanks to additional China tariffs … and now today, we get to finish the
week with an NFP report … after yesterday, it’s almost anticlimactic in nature.
Overnight, not much action in GBPUSD OR DOW30, but the Chuckleheads in
Asia went on a selling spree in gold … maybe they’re learning？... nah, couldn’t
be … more likely the ChiComs were selling … not in their interest to see gold go
orbital before they acquire all the physical metal they want … and while I’m not
saying it’s the top, the trading action of late typifies major tops in gold back
throughout history … just ugly as all hell, with everybody getting brutally hunted
down, shot, bled, and their heads hung on a trophy wall somewhere … if you’re a
spec, it’s like you got a big read circle painted on your back.
NFP comes and goes, coming in right in line with consensus … but wait, some
info babe at CNBC, obviously trying her hardest to get noticed, tweets out some
tariff bullshit, and markets go apoplectic … DOW30 goes up 170 index points in
3 minutes, gold gets smacked down 5 bucks plus, and GBPUSD goes to sleep
and could care less [well, it went a few PIPS, but nothing much] … but then the
kicker … if China does what the administration wants, tariffs could be delayed or
held back … thanks, nothing info babe, this is old news and a complete
‘in the tank’ move to get a better job, more money, or both … and these asshats
wonder why the vast majority of Americans hate the fucking press.
OK, so we move to 3 markets today, and what happens？... Cable goes nowhere
fast, up/down a few PIPS but nothing to speak of … the DOW30 gets slimed by a
CNBC babe looking to make a name for herself, and then promptly goes full retard
‘Thelma & Louise’ down the rabbit hole … gold for its part is trading like a
crackhead on meth, and threatening again today to make a huge reversal day on
the daily candlestick … the M1’s in gold so volatile, it’s a complete coin flip if
you’re up/down multiple dollars per OZ. within seconds … in other words, you
risk X and find out your reward is ⅕ X … sure, c’mon in and play the water is warm
and there are no worries, as your account has unlimited funds in it … right？
Maybe gold has enough juice in the tank to climb over 1450 today … maybe not
… what I know for sure is that trading conditions for making money are horrific
… and the other 2 markets no help today … I will mention again, that the DOW30
is an ‘80/10/10’ market, meaning it goes up 80% of the time, sideways 10% of the
time, and DOWN 10% of the time … the trick to the stock indices, is to avoid the
down moves that can kill you in record time … no small feat when the Grim Reaper
comes a visiting … this is a market I only trade from the long side … Cable
[GBPUSD] on the other hand is a 50/50 market and there is no bias to either long
or short positions, meaning of course I trade it both long and short … gold, I again
only trade from the long side.
Noon in New York, and I’ve seen enough of this NFP day to make an early exit
… I hate NFP Friday’s, and always have, and it’s always been one of the worst
trading days ever in just about everything … so, we’ll pick up our 3 markets come
Monday and take it from there … I’m simply not willing, now that Europe is closed,
to play with Squid and the other crooked scumbag banks in the New York
afternoon … screw these guys, they’re nothing but thieves.
Come the blog update on Sunday, I’ll be including the 20 Day Range MA’s for
Cable and the DOW30 … while today was a bust in the DOW30 thanks to an idiotic
tweet that BURNT EVERY DROP OF BUY FUEL, that could have benefited us in a
long position, watching the trading action was beneficial nonetheless … we didn’t
get any algorithm buy signals today in the DOW30, and in Cable I didn’t even look
cuz the trading action was non existent … gold for its part, again giving 2 buy
signals like yesterday, but like yesterday the market blows through them so fast,
that literally one second after i get the signal, price is already more than 2 bucks
higher … like I said, trading conditions in gold are close to impossible … we’ll see
what happens next week, but if things get any crazier gold will simply breakdown
… this is bullshit.
Blog update Sunday … until then mi amigos … Onward & Upward!!
Have a great weekend everybody!
-vegas
