THE BULLSHIT IS ABOUT TO GET REALLY DEEP

 

“Get into the high paying, rewarding career of “bullshit meter” repair!!”

Four FED Lounge Lizards speaking today, and of course there will be the usual

propaganda on the debt ceiling … quite frankly, I don’t know if my bullshit meter

can take much more.

Another Monday, so what’s new? … absolutely nothing, as markets are stuck in

bullshit so high nobody can make heads or tails of anything … POLS lie,

Apparatchiks lie, banks lie … and once again, “Stock Bellies” can’t hold rallies,

but they aren’t breaking either … flat and boring, and we need better VIX but

aren’t getting it … Hell, even Bitcoin is rather quiet today, and if it were any other

market people would say “it’s flying!”

Again today, you can clearly see the major difference between how a

manipulated market like the DOW30 trades versus Bitcoin … plenty of up / down

opportunities in Bitcoin, and the DOW30 like most days either straight up or

straight down, reverse, rinse & repeat, and then at some point go into the “Loser

Formation” … there simply is no trading like there used to be, as the

manipulators clamp down on VIX … and not just in “Stock Bellies”, but in

everything … FX and gold a complete joke.

What Bitcoin has, that none of the manipulated markets can achieve, is twofold

… 1) FOMO & PANIC, and 2) the players in the market are either “Arbs” making a

market from one exchange or platform to another, “Whales” who can shove price

around for their own benefit and profit, and 3) retail SPECS … THAT’S IT! … no

scumbag banks or central bank manipulators … and when you have these

qualities in a market, it will move guaranteed … throw in our cost structure of

almost NOTHING [OK, 1 PENNY!] @ IQCENT, and I’m wondering how anybody

can justify trading anything else unless they have to … [and the PAMM sadly

has to!]

And as I’ve said before, you “play the players” … the way they react to market

moves is absolutely predictable 100% of the time … cuz there’s so much FOMO

[up] and panic [down], it’s the manipulated shit that gets controlled cuz of what

the banks are doing and how they’re positioned … fuck the banks! … and before

you know it, the market is dead … not in crypto that’s for sure! … use the

alternative trading algorithm on the m1, and sync it up with the m3 on the

IQCENT  trading platform … play the classic chart patterns in the direction of

their profit movement … failed double bottoms, ascending & descending wedges,

flags, pennants, & triangles … be there right before it explodes, and when the

move stalls, liquidate immediately … rinse & repeat … I’m literally giving you a

blueprint for trading success in a free market!

Of course, all this is too much for “Stock Bellies”, which before the 2008 financial

crisis were mostly free markets … then came 2008 and all of that went out the

window … now, it’s worse than ever, and it’s the reason why “Stock Bellies” don’t

“run” any longer … they crawl.

NO trades for the PAMM today as it’s impossible to get an algorithm buy signal in

this DOW30 shit … straight down, then reverses, goes straight up turning the HULL

204 from pink to blue, then goes straight down and turns the HULL 204 pink again

… completely manipulated! … meanwhile over in crypto land @ IQCENT. a

shipload of trades today in BTC on algorithm buy signals … “The Syndicate” UP

APPROXIMATELY 1.6% … a decent day, I’ll take it! … onto tomorrow.

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

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

-vegas

PANIC MUCH?

 

“Every FX trader better have one!”

“Well, that escalated quickly, didn’t it”? The first 8 ½ hours of the day a 

complete bore, what with multiple trips back and forth from the high to the 

low … then all hell breaks loose … first the CPI fantasy numbers, and then 

news Tillerson is out as Sec. State … “you’re fired”! … then the Ruskies 

threaten the U.S. military over Syria, and after that is when the real fun 

begins.

Cuz nothin’ says “lovin” from our friends in the trade, the lovable scumbag 

LP banks like rallies and breaks faster than a newborn needs fresh diapers 

… just cuz we got multiple 20+ PIP breaks off the highs, doesn’t mean on the 

third trip up to the then high of the day, we can’t then drop approximately 40 

PIPS in 14 minutes, cleaning out sell stops on the way down, especially the last 

10 - 15 PIPS, and then magically racing back up straight to new “higher-er-er” 

highs within minutes. I don’t think I’ve ever seen more volatility inside a 70 

PIP range in all my years of trading … oh sure, things have been plenty more 

volatile in the past, but today sees so many trips up & down over 20 PIPS, that 

if you happen to be caught on the wrong side of one of these blitzes, you’re 

toast ... and the turns, when they come, are vicious.

Today was the kind of day that wreaks havoc on “Newbies”, for two big 

reasons; 1) the speed at which EURUSD [or any other FX pair as well] can go 

against you, and 2) the inability to process events in real time and make 

appropriate trading decisions ...this is AKA “the deer in headlights” syndrome, 

and while you sit there not believing what you’re seeing, your account is losing 

money faster than shoving $100 bills down the toilet. “You simply got to have a 

plan beforehand”.

Four trades today … PAMM up slightly, nothing significant.

It was the second long trade today, the speed at which it backed off the fourth 

attempt to make a new high, that caught me … simply had no choice but to 

liquidate when I reached my “pain threshold” on the downside, despite my 

belief the high hadn’t been put in yet … but, as I have repeatedly told my 

readers/clients, yours or my beliefs don’t mean Mr. Jack Squat to the market 

… it doesn’t know or care what I think, I have to do what I’m supposed to do 

cuz if I don’t, I know what can happen. No, I don’t enjoy taking a loss, but for 

the “greater good” I have to … I simply regroup and reevaluate the next 

trading opportunity.

For newer traders especially, it’s vitally important you understand the 

necessity of not getting “whacked” when you trade … anybody can handle a 

very small loss on a trade, cuz it comes with the territory … but you can’t do 

“stupid shit”, like hanging on to losers and hoping they come back, cuz the few 

times the market bails you out like this, you get it in your head that this is the 

“strategy” to grasp onto, when in reality it was “dumb luck”, not your brains, 

and now the market has “set you up” for the kill, cuz down the road some is 

gonna come a time when it doesn’t come back and you’re roadkill.

After the CPI report, a very difficult trading environment … extremely rapid 

shifts in sentiment today, where if you blink your eyes, you could be down 10+ 

PIPS or more rather easily. Again today, the trading day shortened due to the 

CPI report, and you can see the effect this has on trading … heightened 

volatility & very thin liquidity conditions.

I’m a little disappointed in the profit today, but quite frankly each trade I 

would do the same every time, and the only thing that matters at the end of the 

day is being up money & equity … some days it’s not pretty and you just have 

to live with it and prepare for the next day. So, tomorrow’s another day filled 

with more opportunity … I’m outta here … until tomorrow mi amigos … 

Onward & Upward!!

PAMM spreadsheet directly below.

 

Have a great day 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”!

  

 

 

 

WHEN EVERY MOVE IS “PANIC CITY”

 

“He who panics first, gets to panic again later.”

Well, wasn’t that a “gift” to the scumbag LP banks yesterday, late afternoon in New York after stocks had closed? It was either scumbag LP bank coordinated, or done on behalf of the FED, for their collective benefit, via one of their “dummy” offshore accounts that they use for the “Plunge Protection Team” [buy stocks], “Rally Protection Team” [sell gold], or FX manipulations. In any event, the financial MSM need to find a “reason” … understand, it can be anything handy … car sales in New Zealand “unexpectedly” lower, so sell EURUSD, but they picked up on the Apple repatriation and the $35 billion in tax they will pay … that will be in USD from offshore, but there’s just one problem with the logic here … Apple is doing it over the next 5 years, not tomorrow or next week … well whoops!

And remember what I have said in the past … “1) the scumbag LP banks will FIND A WAY; through stops, via mystery ticks, odd-hour shenanigans, begging the FED for help … whatever. And when it comes down to specs versus the scumbag LP banks, the banks will win every damn time, and 2) the entire world is long EURUSD, and for the 7^th day in a row, have tried to muster it higher regardless the PIE HOLES at the ECB warning otherwise, and “record-er-er” long futures positions”. And guess what? They found their way late yesterday afternoon.

Asia last night was dull; “I’m only guessing, but I assume the Chuckleheads need some checks to clear the bank before they can continue their nighttime losing ways”. Coming into the European session, it took almost 4 hours to rally 15 PIPS … and then it started to get extremely vicious. “Buy Mortimer buy!!” … wait, the M1 is turning red; “Sell Mortimer sell!!! … every new high by a fraction got sold off immediately hard, diddled for a few minutes, and then sky rocketed higher on some really wicked up spikes … rinse, repeat about 30 times, and you have the entire day. One of the worst “up day” action trading days I think I’ve ever seen, cuz the only way you made money today … the only way, if you didn’t just get long and close your eyes and risk 40 PIPS … was to be extremely quick on liquidation longs, and buy before the spikes … other than that, I’m betting you had a really rough time or got “monkey hammered”.

And yes, I know EURUSD is in a current bull market … however, what I’m most concerned about is what you see directly below coming “out of the blue”.

   

 

How does 19 minutes taking out 6 hours of up action sound? … no warning, no nada … just open the trapdoor and have at it. So why? Remember the Pie Holes at the ECB, and I’m pretty sure they have “whispered” to the scumbag LP banks that they got their collective backs, and that EURUSD simply ain’t going over 1.23 … and so, they’ll let you bid it up, and when you’re done with the foolishness, they slap the hell out of you. “This is FX, this is how the game is played”!

Quite frankly, ever since my first trade in the 30’s, I was not comfortable at all being long today … didn’t want to be short, but with what happened yesterday, opening higher and going higher seemed like a longshot, with at the very least some very nasty drops thrown in just to remind you “what’s what”.

I want to bring up another important factor in trading, cuz today it made a real difference; I trade via Turnkey Forex, and the spread most of the time during the European & U.S. sessions is 1/10^th of a PIP … throw in RT commissions of $2 per 100,000 notional, and no matter what I do, if I’m long and ERUSD is 3/10ths of a PIP higher on the bid side for me to sell, I’m in a profit position. Believe it or not, there are still plenty of offshore brokerage houses, where the spread is 1 – 2 PIPS … now, given the nature of today’s trade, how the hell do you make money with that? “And, in case you hadn’t thought of it, that’s precisely the point … you aren’t”!

The entire “setup” for today’s trade was all wrong … open higher and go higher all day after yesterday’s drubbing? And not only that, a bearish engulfing pattern reversal off a 3 year+ high on the daily candlestick chart… “oh yea, sign me up for the train ride, where can I buy a ticket”? And as the above chart shows, all those spikes up, all the “herky-jerky” upside action that has traders convinced there ain’t ever gonna be another down day evahhhh; all that taken away in 19 minutes, which accounted for practically the entire U.S. day.

So, ever since EURUSD went through 1.2223 – 25, and the higher it went, the more cautious I became, cuz I know it would be very unlikely … very small probability … that EURUSD can go up and go past 1.2170 – 1.2180 and completely wipe out yesterday’s downside “gift” to the scumbag LP banks. In essence, what you see above in that chart in the blue rectangle, is what I was hoping to see at some point in early Europe … well, here we are in the afternoon of New York; now, if you’re long, you don’t want to see this late, cuz very soon, any longs still long above 1.2130 – 1.2140 or higher are gonna have to start pushing the panic button due to time considerations … and if they get this stuff under 1.22 again today in New York, it has the potential to be … “ugly”.

Today’s trading from the get-go, offered only one reward/risk scenario … risk potentially 10 – 15 PIPS right now on spikes down, to make 1 or 2 PIPS. I knew almost from the beginning, this was NOT a “hold on cuz we’re going a lot higher” kind of day … more to the point, if you get up and it comes back, be quick, don’t hesitate, and click the liquidate button before the others put you in with “Thelma & Louise” for the ride down … and that’s not a place I want to be.

Two trades today, and the only reason we are up money today are 1) my paranoid aversion to risk, and knowing what kind of day this was/is, and more importantly 2) the lowest spread & RT commissions on the planet … if we were someplace else, after these 2 trades, we’d be down money. One thing of note; this is the 7^th day in a row of complete & total upside action during the European session and about 99% of New York; take away yesterday’s very late in the day downdraft, and you’d be hard pressed to find another 7 days in the history books on EURUSD, where so much has been gained in price on so very little hard data … other than the benchmark 10 YR. Bund going up about 31 bps in the last month, and tightening for the E.U. by the market, there isn’t a lot of evidence Super Mario and his gang of Twits are ready to “pull the trigger” and actually do anything. My guess is, right now, Super Mario hasn’t a clue what he’s gonna say at next Thursday’s presser … depends on where EURUSD is trading … if it’s above 1.22, and especially if we are above 1.23, I’m really thinkin’ he’s gonna carpet bomb EURUSD into oblivion with very dovish comments … if we can fall down into the low to mid 1.21’s, he might tone it down a bit. Remember, though, Super Mario has a history of contentious ECB pressers, and if we’re in the 1.22’s or higher, and it appears to the market he’s OK with this, then upper 1.20’s here we come … all the while stabbing the scumbag LP banks in the back [“not a bad thing actually”!]. I don’t think he would do this, but you never know with him.

As I’ve said before, trees don’t grow to the sky, and what EURUSD really needs, unless they want to see a really “butt ugly” collapse come next Thursday, is some downside action that “shakes out” some of these “Johnny come lately” long position holders … from there, we can see some nice rallies, but this isn’t the DOW30 or SP500, where central banks are manipulating the market from going down, this is EURUSD, and make no mistake, the ECB is not happy right now, and I think that has a very high probability of capping EURUSD in the days ahead to next Thursday with that high at 1.23231. Let’s hope we can see Asia & then Europe early go lower for a change, and end this mindless BTFD without a care in the world, the market seems to be obsessed with right now … and nothing will change that attitude better than an early move lower in Europe. We’ll see of course, and it is what it is, and I trade it accordingly … I’m so outta here … Onward & Upward!!

PAMM spreadsheet directly below.

 

 

Have a great day 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”!