SOME VERY COLD MARKET WATER TO SAVE THE BULLION BANKS

 

“They did what to rates? … OMG!, “dot plot” stupidity to save bullion banks!”

The premise here is simple … “monkey hammer” gold and allow more short

covering for the bullion banks, especially JPM, the world’s largest criminal bank

enterprise running, before the close of biz on June 25 … got to protect the

scumbag bullion dealers before Basel 3 kicks into high gear come the open on

Monday, June 28 … and all of those thousands of short futures contracts get

covered and isn’t it a genuine coincidence? … right, me neither! … and OK, they

know “Stonks” take a little hit, but there’s always the “Plunge Protection Team”

[PPT] lurking in the shadows, so “Stonks” most likely won’t be affected nearly as

much as precious metals.

And besides, this is just TALK & BULLSHIT “DOT PLOTS” … “blah blah,

yada yada” constantly talking possible rate hikes, but there ain’t gonna be any

spike in rates, cuz there can’t be a spike in rates … the trillions upon trillions

being printed and spent by Preezy Idiot Boy, and soaked up into the FED’s

balance sheet won’t allow rates to rise … cuz if they did rise significantly there’s

no way to print that much debt to cover even the skyrocketing interest payments

… all of yesterday’s pile of horseshit is to save JPM & the other bullion banks

from severe losses on gold futures if they had to buy ‘em back higher … after

June 28, mark my words, Spicoli’s tune will change, and so will the other

“village idiots” lurking in the faculty lounge and markets will be on their way to

the next level of “bubble” … cuz make no mistake, the “STONKS bubble” has to

be protected AT ALL COSTS, even if it means running faster towards Venezuela

… the one thing they cannot let slip into the Sheeple’s mindset, is that “things”

are bad and Ma & Pa need to sell their stocks … it’s why every time “STONKS”

hiccup lower, the PPT is there to make sure not even the thought of shit turning

bad is a possibility … can’t have it, can’t allow it! … and no matter what

blithering idiots like Spicoli say, they’ll run the oceans dry of water first to make

the ink for money printing, rather than allow the “STONKS” bubble to burst.

Not to make that big of a deal about it, but I warned weeks ago about the

“spec bandwagon” piling into gold, and how if it continues without corrective

activity, the ending is gonna be “ugly” … cuz every time … EVERYTIME in the

past when they drag every last nickel from specs to get long gold, this is what

happens … and this time all it takes is 5 days to WIPE OUT 39 days of market

action where LONGS feel “safe” before their sell stops get filled … “I got filled

where”?! … this has nothing to do with actually owning gold, and has everything

to do with trading gold, and most have no clue what actually drives gold

[pre Basel 3], and even when you tell ‘em they don’t want to believe it cuz it

upsets their groupthink about markets in general being honest and aboveboard.

And more than likely, with gold now not a threat to go orbital until after Basel 3 is

implemented, the FED has bought a little time [again] to produce more

propaganda, while hoping & praying inflation numbers cool some … quite frankly

I don’t see it, but I’m a trader NOT a “guru” … for “STONKS”, the first line of

defense for Spicoli and crew is the 4150 level on the SP500 … if we get there, it

will be heavily defended by the PPT … ultimately though, the 4000 level is the

FED’s “Maginot Line” … and if that goes, look the hell out below!

Meanwhile, in the real world that is mirroring the Cartoon Channel, Preezy Idiot

Boy continues his stumbling, bumbling, anger rants, and pressers where he can’t

keep a cogent thought without a cheat card, the world gets a good laugh at the

“U.S. of China” … I’m pretty sure Vlad is laughing his ass off, and can’t believe

his good fortune at being gifted the village idiot … I’m also pretty sure “Stonks”

ain’t likin’ it either … but for sure, he got 81 million votes!

As we start the day with the criminals returning to their screens on Wall Street,

the hemorrhaging continues in gold, along with lower “Stock Bellies” … volumes

being as pathetic as they are, I’m looking for algo “day trading” signals, and not

so much scalping signals, but if they’re there I’ll take ‘em in the DOW30 if the

volume is good enough.

THIS JUST IN AND HIT MY SCREEN! … UNREAL!!

Sometimes, you just can’t make shit up and have anybody believe it, but here

we go … apparently it’s OK over at PATREON to have creators that do porn, soft

porn, give gambling advice, dating advice, and a whole host of other bullshit that

appeals to the lowest forms of human meatsticks, but I’ve been notified I CAN’T

DO THE TRADERZOO PATREON, AND THEY HAVE CANCELLED THE ACCOUNT

WITH NO REASON GIVEN … ATTENTION PATREON: “GO POUND SAND, WHO

NEEDS YOU ANYWAY”? … apparently, even though I make it perfectly clear in

my GLD & SLV pdf’s that my material is for “educational purposes” only, and to

provide info on how to properly structure trades in HYPOTHETICAL PORTFOLIOS,

so that people can see the “what & how” of how professional traders position

themselves for max gain with limited loss, APPARENTLY THAT CROSSES THE

LINE and I’m worse than 20 year old chicks doing reaction videos to the worst

filth on the internet and have PATREON ACCOUNTS THAT ARE JUST FINE! … I

mean, seriously? … OK, whatever, I tried!

So, I’ll host live chat on the website via a portal people can use FOR FREE, and I’ll

have a link in the header for crypto donations for those that would like to

contribute … PATREON, what hypocrites! … I’ll make the changes over the

upcoming weekend, and by Monday everybody can partake, and tomorrow I’ll

comment on it more in the blog … THERE, I SOLVED IT FOR YOU ALL! … [will

they ban crypto next so I can’t get donations?]

Turning to today’s FED markets … another wonderful feeding of the Chipmunks

at the NYSE open! … why this isn’t illegal I have no idea, but once again the ETN’s,

ETF’s, and a whole host of mutual funds get screwed royally by the scumbag Wall

Street banks … and we all know why nothing is ever done about it … when

pressed on the Preezy Air Force One, Preezy Idiot Boy said, “umm, gurgle, pony

soldier, back in ‘56, I always liked that girl … have I got my 10% yet?” … it’s not

immediately clear to the North Korean press following him, whether he was

talking about the girl or the Chipmunks, so they never pressed him on it … ah yes,

our glorious MSM hard at work pumping propaganda.

Gold getting absolutely trashed again today, off of Fedspeak “Dot Plot” bullshit

that serves 2 functions … 1) kill the positioned longs [check!], and 2) save the

bullion banks from their “unallocated” gold short positions before Basel 3

[double check!!] … and all it took was some fantasy about raising rates, when the

entire world knows interest rates can NEVER RISE SUBSTANTIALLY EVER

AGAIN! … and while volumes are OK in gold today, volume isn’t coming like you

want it, volume comes off of very tiny rallies and price gets mutilated within

seconds, meaning if you aren’t out of your scalp BEFORE it turns, ouch! … and

with tomorrow being Friday, the early rallies will get sold … in order to halt the

bloodshed, the Chuckleheads in Asia got to sell it in the hole first, and then New

York can come later and rally the shit out of it and make the burn hurt.

The DOW30 is a little trickier cuz of the PPT and their shenanigans, but before it

bottoms the Chipmunks will sell the NYSE open first, AND THEN the rally can go

orbital … now in its 9th day in a row of decline, some 20 & 30 somethings are

getting a little heartburn in their trading accounts … can the PPT quench the

heartburn before it’s too late?

Meanwhile over in crypto land, VIX isn’t just getting smacked down some, it’s

getting destroyed! … 20 Day Range MA’s going down faster than Biden falling

down steps up Air Force 1 … and the trading action starting with the European

open has become simply terrible … ETH 19 hours into the day with slightly more

than a $100 range, which is pathetic, and the other alt-coins act like they’re in a

coma … I said a while back, that crypto would have to suffer through weeks,

maybe months [hopefully not years] of consolidation and backing and filling, and

pretty much dashing the hopes of everybody who wants to stay long and pretend

the BTC crash didn’t happen … well, here we are!

Only 1 algorithm buy signal today in DOW30 … TURNKEY PAMM UP SLIGHTLY.

First, from the day trading side of the algo, the market opened cash trading in

“buy mode”, but after feeding the Chipmunks their daily dose of gruel, price

started to get “monkey hammered” lower, and within half an hour day trading

mode had turned to “sell mode” … it’s been there ever since … from the scalper

mode side of the algo, 1 buy signal and while it worked out OK for a small gain,

about 2 seconds after I liquidated it got the “Thelma & Louise” treatment quickly

… and while I don’t particularly like the action we are seeing, cuz make no

mistake, right now we’re in the back “6” of the “88/6/6” paradigm, there isn’t

much to be had on the upside when action turns nasty and people start getting

really nervous … and I’d say we’re there mi amigos!, in the DOW30 and

especially in gold where the action to the downside is brutal, and looks like

forced selling. EXIT QUESTION: “Today appears to be the 9th day in a row of the

DOW30 being lower [could change later with PPT help but for now it’s lower]

… when was the last time the DOW30 had 9 days in a row lower? … A: I dunno,

I went through the DOW30 daily history all the way back to 2012, and there isn’t

any other time period it’s done this … Welp!” … can you say back 6%? … I’m

not predictin’, just sayin’, be mindful of a stock meltdown cuz the probabilities

of one are a lot higher now than a week ago … meanwhile over in the NDX100,

it hits another ATH today! … “WTF is this”? … talk about rotation back into tech,

this is mind boggling!

Over in crypto, no trades today cuz I’m waiting for a pulse to appear to the

upside.

And just as a reminder from ZH, tomorrow sees the June  “Quad Witch” day in

“STONKS” and $2.2TRILLION of derivatives expiring! … can I just write you a

check for that? … Outta here … “the future’s so “GOLD”-en bright I need

sunglasses”!  … Onward & Upward!! 

-vegas

IMAGINE A MARKET & NOBODY CAME

 

“It looks like the FX Jet is gonna be grounded for a while longer!”  

Employment report comes & goes in Britain … nobody cared. Quite frankly, 

“Brexit” or “Schmexit”, you got to go way back on the charts to find a similar 

“dead spot” for Cable … in many respects this complete lack of intraday 

volatility is unprecedented in modern trading, and it doesn’t look like 

anything is on the horizon that’s gonna change that … FX is in paralysis. Of 

course, something will eventually take hold and run but who knows when? 

… it sure as hell ain’t gonna be this week, going into the Easter Holiday.

Gold for its part, dancing with 1280 and sucking in longs each and every time 

it bounces … only, every time it bounces, the cat doesn’t bounce as high as the 

last time, and it feels like a foregone conclusion that at some point when the 

scumbag bullion dealers feel every last nickel of spec money has been placed 

into long positions, they’ll quickly & forcefully “monkey hammer” it below 

1280 for the sell stops which are surely underneath that price level. To be 

blunt, gold is not acting very well and still feels heavy, and it doesn’t help 

that there is zilch for volume & liquidity … and if you think it’s bad now, any 

break of the 1280 - 1276 level is only going to make matters worse. A whole 

relatively new generation of gold traders are about to abandon this market in 

droves … last time things got this bad, gold went into a 20 year hiatus of 

nothingness [1982 - 2002].

“Well, that escalated quickly to the downside in gold, didn’t it”? … and of 

course, it was helped along exactly at 8:30 AM EST, by the “fat finger” of 

manipulation, the “Rally Protection Team” [RPT] as 11,000 gold futures 

contracts were dumped at the market to break the 1280 barrier … “nothing 

like honest markets, huh”?

And I guess, file this under wanting to stay relevant this week, a few minutes 

after the gold “fat finger” debacle, Labor’s Corbyn spouts off on “Brexit” 

[coincidence?], Cable dumps about 25 - 30 PIPS immediately, and after 

running some sell stops, Cable is right back to where we were earlier … still, 

the range sucks and there’s no interest in the market as well … “in essence, 

we got a market and nobody is coming to the party”! 

With the Corbyn news, Cable trading slightly better today than yesterday, but 

that bar is so low it doesn’t mean much … looking at the daily candlestick 

chart, the last six [6] consecutive days [including today] have been range 

disasters, and today is no different … hell, I’ve seen corn spread ranges bigger 

than Cable recently, and the back & forth above every buy/sell indicator 

known to man simply jerks specs around and favors the scumbag LP’s, who 

are only too happy to sell you the top and then later buy from you at the 

bottom, on every 5 - 10 PIP move this shit makes as it goes NOWHERE.

Here in the New York afternoon, with today’s downside debacle in gold, unless 

it rebounds very strongly quickly [doubt it], my guess is gold is done for the 

year … we’re starting seasonals in gold that aren’t good through August, and 

if the FED isn’t gonna cut rates anymore, but take a wait & see attitude on the 

economy, and with China’s massive QE stimulus attempting to jump start 

things there, it’s looking more & more like the rate cuts factored into interest 

rates in December, are now a distant memory … and with it go gold’s chances 

of any sustained advance in price … could be wrong, hope I’m wrong, but it 

doesn’t look good for gold going forward, and right now 1350+ looks like a 

delusional dream. And don’t forget, take another batch of customers that 

have been flushed down the precious metals toilet … they aren’t gonna be 

coming back.

And in Cable, it’s very much a question of, “what the hell do I do now”?, cuz 

there are so many things up in the air right now that impact price, everybody 

that trades it is in a state of paralysis … mini panic up, and then 10 minutes 

later mini panic down … throw in impossibly tight ranges and the “Flying 

Wedge of Death” [FWD] just for shits & giggles from the scumbag LP’s, and 

you got a market, that under these conditions, is “Hoover Dam” near 

impossible to trade … you risk dollars to make pennies. Sure, eventually 

things return to normal, but in the meantime you run the risk of getting 

beaten up every day trying to catch something … “the only thing you catch 

after Europe closes in FX, when you decide to trade New York afternoons, is a 

punch in the face”!

A ton of economic reports out tomorrow, so maybe we can get some life in 

Cable before the week is out, and possibly break the stalemate the market 

finds itself in … maybe. As for gold, it’s dead IMHO … it’s been “silverized”, 

and with this latest clusterfark to the downside, another batch of gold traders 

bite the dust, making things in this complex even worse than before … it’s 

gonna take a lot to repair gold and make it viable … right now, I don’t see 

that happening anytime soon … maybe later in the year, but certainly not 

right now … until tomorrow mi amigos … Onward & Upward!!

Have a great day everybody!

-vegas