OPEC MEETS … STAR WARS BAR SCENE UNFOLDS

 

“I now bring this OPEC+ meeting to order!”

Round up the usual gaggle of Sheiks, Emirs, murderous dictators, thug tyrants, 

guys in shiny dark Italian suits wearing black shades, hundreds of over-sized 

Mercedes Benz limos, and throw ‘em all together in a stinking pile, and 

whaddaya get? … EASY PEEZEE: “an OPEC meeting this week”!

Hell, I’m barely out of bed this early A.M., and at my screen at 4:50 EST., and 

already there’ve been about 999 trial balloons & rumors floated about oil 

production cuts … I haven’t even had coffee yet, and both sides of the Brent 

order book have been taken out back to be shot in the head after unprotected 

“diddling”, and the range is already over $1.70 for the day … “WTF is this”?

And watching the last part of the mini melt up to the $74 per barrel level 

… “and it’s only gettin’ warmed up for another buck or so on the upside … go 

figure, but hey, fun-der-mentals, duh”!, it becomes patently obvious, that this 

week is NOT the week to trade either Brent or WTI … between now and 

Friday’s official OPEC meeting, just get somebody to give you a nickel for 

every bullshit oil rumor floated somewhere, and you can take the kids to 

Disney World. “Cuz here’s the dirty little secret; when the oil Pie Holes start 

the “blah blah, yada yada”, all you’re gonna see is the screen go seriously red 

or green, and if you’re positioned the wrong way, you’re toast … and I might 

add, with no way to get the money back".

 

So, over to the DAX30 I go, and now bricks are flying all over the place with 

negative news that won’t stop … Italy telling France to go “pound sand” over 

refugees landing in Italy, Merkel’s government is in trouble over unchecked 

immigration as well, EU/China/US trade war heating up “bigly & yuge”, Audi 

CEO indicted this morning over emissions scandal, and of course the ever 

present ECB & Super Mario talking about an interest rate increase in the Fall 

of 2019 … “well, at least they got soccer for some good news … err, wait a sec, 

they got beat by Mexico yesterday in the World Cup first round, adding salt to 

wounded & frayed German nerves”.

“Well, this is gonna escalate quickly to the downside, isn’t it”? … however, as 

bad as it can possibly get in the DAX30, the “Force Volatility Algorithm” is 

still gonna get some good buy signals, and quite possibly some sells as well.

Two trades today … PAMM up halfway to 0.1%.

DAX30 down about 2% today, and yet during the most active part of the day, 

the algorithm signaled 8 buy trades … half came before I got to my screen, and 

with the other four, two gapped up “bigly & yuge” off a bottom where I didn’t 

take the trade, and the other two I took for profit. In addition to that, there 

were 2 excellent sell signals that came before I got to my screen … one in the  

“pre-market” [06:00 - 07:00 server time in GMT], which I wouldn’t have taken 

anyway cuz the cash market isn’t open, and the other a little while later 

… both would have moved immediately in our profit direction.

Starting tomorrow I’ll be up and at it around 3 A.M. EST [07:00 server time], 

cuz I’m not in the practice of giving up nice gains just so I can sleep … sleep 

when you’re frickin’ dead! In addition to this, today I traded “light” … this is 

the first day I’ve traded the DAX30 in a while … it hasn’t seen me since 2016 I 

think … yea, I know how it trades, and I know the algo inside and out, but I 

still missed 2 excellent trades cuz they moved faster than I thought they would 

… that’s what I get for thinkin’ [“Quick -vegas, go around the corner and see if 

it’s rainin’ there”!].

I just looked at the range in XAUUSD … “WTF is that all about? You go $27+ 

on Friday, and today you got $5.40 @ 1:30 P.M. EST.”? … talk about 

inconsistent; glad I made the decision not to trade it over the weekend, and 

instead opt for the DAX30 as “Plan B”, when Brent misbehaves or the world’s 

collection of misfits get together to attempt to manipulate oil prices higher, 

while at the same time increasing production. “Only when you lie, cheat, & kill, 

can you square that circle”!

Watching and trading the DAX30 today, I’m extremely pleased with the 

performance of the “Force Volatility Algorithm” … I simply can’t ask for better 

signals and consistently get them. When I used to trade the DAX30, I used a 

much different algorithm that either played totally off the day’s range, or 

attempted to catch a “trend”, and more often than I’d like to remember got the 

market stuffed in my face … “well, guess what? There is no such thing as trend 

… it’s a “human construct” to make you feel comfortable in taking a position 

… there’s simply big money chasing price [up and/or down] until they’re done 

… in neither getting in nor getting out, do they email you to let you know when 

the gig is up … the algorithm’s entire focus is on changing big money momentum 

at “crunch time”, no matter how long or brief it may be, and profiting off it 

… simple as that”!

Look for volumes to increase here shortly in the DAX30 … today, simply a 

light day in the face of an onslaught of news hitting the market, wave after 

wave for about 2 - 3 hours this morning … “began to wonder what comes next? 

… biblical locusts”?

During the week, I’ll be working on the algorithm manual, so blog posts may be 

a bit shorter than usual … it’s important I get this done in a timely manner, and 

with 5 markets to exhaustively cover [with examples], I still got a lot of work to 

do before next Sunday night’s release … “don’t worry Skippy, it’ll get done”! 

And with that, I’m outta here … until tomorrow mi amigos 

… Onward & Upward!!

PAMM Spreadsheet directly below.

 

Have a great day everybody!

-vegas

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TIME FOR A WORLDWIDE “STUPID SHIT” HOLIDAY

“Do not trade FX in the Asian session! WHY?”

I hadn’t even gone for dinner yet last night, when the “stupid shit” brigade out of Japan went for GBPUSD with the FX equivalent of nuclear weapons. Although not quite the magnitude of the “Swiss Debacle” in January 2015, it was damn close. “Nothing to see here Sheeple … move along … just a little accident is all … everything is fine.” Except of course when it isn’t.

And so, I’m calling on world governments to immediately enact a world Holiday on the first Friday of October of every year, to be called “Stupid Shit Day”; plenty of festivities in places like Davos, Switzerland and Aspen, Colorado where LP executives can give speeches, wine can get consumed, and hookers can make a living. Oh, the humanity!

I get up this morning and the entire financial trading world is abuzz over the “shocking” developments in Cable; except for me. I find this “rape” of Cable in the minutes before the Asian open too convenient for a scumbag dealer community that maybe … just maybe … had to get their greedy little fingers on some quick capital to make up for losses in gold and government bonds from clients “all of a sudden” under water. Presto!! “Hey, I got an idea; let’s run a few yards [billions] of Cable into stops and see what happens!”

When I think of the dealers and liquidity providers in the Pacific Rim, and by default the Asian session, my first thoughts are of the bar scene in the original ‘Star Wars’ movie.

QUESTION: “How many of these guys do you really trust?” SHORT ANSWER: “Not a damn one of ‘em.”

And lest you think the move in Cable was bad enough in and of itself, let’s take a look at what the LP at ASSETS FX did to the client base, shall we? First, the M1 showing the GBPUSD debacle.

Now, the institutional side of the “coin” from Zero Hedge”.

Well, looky here, and ain’t this interesting; a 620 PIP difference between the low BIDS, with of course, clients at ASSETS FX getting the short end of the proverbial stick. Nice job LP, of fucking over clients, to the tune of over 600 PIPS, for your own enrichment and benefit. When the revolution eventually comes, I hope these guys swing from the highest tree.

I’ve been saying for years, “don’t trade the Asian session”, and now last night you got a pretty good preview of what can go wrong when the crooks at the bar are running the show. Please, brokerage house managers and LP’s, don’t insult my intelligence with “deep liquidity” and “institutional pricing” or my two favorites “tight spreads & ECN STP [straight through processing]”. Just another reason why I have practically given up trading anything in the FX arena since the “blow ups” in USDCHF & NZDUSD before last night. There simply is no way you can adjust your risk to avoid these FX train wrecks if you actively trade; sooner or later, that bullet has your name on it, and it is an account killer if you are on the wrong side; stops most likely always filled at the extreme by the LP for their own benefit. 

Remember, this is the same LP in GBPUSD [Standard Financial which is Citibank] who refused to fill my limit sell order in EURJPY, back in March, at my limit price of 121.175 when the market went to 121.270 BID within seconds from 121.120 before falling back to 121.08; I got filled at 121.08. The response from the LP? “We did our best; deal with it.” My response to the LP? “Fuck you if you ever think I’m trading through you again. Did your best? How’s that possible when I see 121.27 BID as a high, then several other bids before 121.08, and then ‘magically’ I get my fill at the bottom BID? You’re either negligent, incompetent, or complete thieves, neither of which is acceptable to me, so fuck off.” And that’s the last time I traded FX at ASSETS FX in my own account. For managed money, at that time as some might remember, we got the same treatment from the LP in GBPJPY in early April, and that’s when I realized FX simply can’t be traded anymore; literally everything is stacked against you.

Which brings us to today’s other shoe to drop; the NFP stupidity. Nothing like a $10 per Oz. melt up screw job on a nothing “fairy tale” report to make you want to turn the machines off. 

 Quite frankly, I feel like Al Bundy and want no part of this shit today and could care less where they take it; anything I attempt to do has been skewed to pieces by the FX GBPUSD debacle and the idiotic NFP report and I have no idea where my probabilities of success are. Instead, I’ve decided to celebrate “Stupid Shit Day” at the beach with the dog, and of course the appropriate Vitamin C therapy. I’m sooooo outta here.

Have a great weekend everybody!

-vegas

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