A NEVER ENDING BATTLE

 

“When the scumbag LP bankers go to work!”

I often talk about “situational awareness” in trading, and today gives a great 

lesson via the Easter Holiday; most of Asia & Europe closed today, which only 

leaves the stock indices up to the New York session and the scumbag LP banks 

that inhabit this corner of the world … “Gosh, what could possibly go wrong up 

to the open of trading @9:30, and then moving into the trading day”?

Given the chance, these vermin would rip your grandmother’s heart out and 

feed it to the pigs, for a chance at stealing $1 from her account … it’s who they 

are and it’s what they do, and you simply have to know who the hell you are 

dealing with, and what conditions are in the marketplace to justify a trade 

… otherwise, like lions sitting in the tall grass upwind from the gazelle’s, they 

will bide their time and then strike the most lame.

Directly below, 2 examples of price action a couple of hours before the NYSE 

open … and without notice, they “jack” the spread from 2 index points to what 

you see in the M1 … why? … “cuz they can, that’s why, and they use the excuse 

of the Easter Holiday to tell anybody & everybody it’s because of “market 

conditions”. MY RESPONSE: “Bullshit … you see a chance for theft with an 

order that is about to happen, and you refuse to be a liquidity provider, and 

instead become a thief, up and until said order is filled or cancelled, and trading 

goes back to regular programming. And then you tell everybody thin Holiday 

market conditions were the culprit, and it isn’t your fault … anybody reading this 

with more than one active brain cell believe this bat guano”?

 

 

Now, everybody knows they are thieves, but nobody has a choice when trading 

… you deal with them or you go home. My point though, is simply to 

remember who you’re dealing with around Holidays, and not fall prey to doing 

“stupid shit”, and getting caught in the net of a 6 or 7 point spread, when it was 

entirely predictable at some point they will pull this crap on customers. “Asia 

& Europe are closed … what are you thinking, that somehow they’re gonna give 

you a break on pricing when it moves”? And remember, these are derivatives 

… these scumbag LP banks can price these any way they want; the only thing 

that keeps them from getting indicted is competition from the other LP thieves 

lurking around the world … but, bottom line is they can do whatever the hell 

they want, and they can fill your order anywhere. “Dave … Dave … we don’t 

have a problem, do we Dave”?

Turning to today’s market … no volume, no liquidity, and no follow through to 

the bizarre “end of quarter” ramp seen on Thursday. 

“Well, that escalated quickly to the downside, didn’t it”? And after another 

“Chipmunk” run higher on the open, cuz they’ve never seen a stock price that 

was too high, the stock indices are getting “monkey hammered” lower, with a 

65,000 lot e-mini SP500 futures order helping, as that index busted through its 

200 day SMA on the downside. “Getting long today, outside of the open if you’re 

a Chipmunk, has been a dicey proposition, to say the least … the problems from 

trading this side of the market today are twofold; 1) when any up move ends, it’s 

lights out on the downside 1 millisecond later, and 2) your risk for a disaster on 

the downside is far greater than any up move is gonna make you, even if you’re 

right … simply put: your reward /risk profile from the long side isn’t very good”.

Just your basic DOW30 down 600+ points or so, here at Noon in New York 

… and I might add, outside the Chipmunk ramp at the open, straight down 

with very few green M1’s to speak of … now that the 200 day SMA’s have 

been breached in both the DOW30 & SP500, the indices look to be in some 

major technical trouble … news? … “fugetaboutit!” nobody cares, and besides, 

it’s all negative anyway … and we aren’t even to the afternoon yet, where if 

this stuff doesn’t find some support real soon, there will be a new definition of 

“ugly” in the dictionary. An entire generation of traders are about to find out 

what “tail risk” looks like, up close and personal, having been weaned on FED 

QE & “hopium” for way too many years. “It’s payback time fellas, buckle up 

and enjoy what you thought was never coming … [but always does!] … who 

knew stocks could go down”?

One trade today … PAMM up between 0.1% - 0.2%.

Quite frankly, I came into today thinking “STFR” was in order … but outside 

the open, rallies have been few and far between, with very little bounce. The 

short trade I made was on a small rally, which turned out to be a “reverse 

Teacup Handle Turn”, just as I describe it in the “DOW30 Aggressive Scalper 

Tutorial” … on the spike down, I liquidated and covered the position.

Even after the NYSE opened, the scumbag LP banks continue to play the  

“spread game”, thus we’ve seen already today in the first 3 hours of trading, 

the DOW30 spread between 2 - 10 index points … “given the nature of the 

apocalyptic down day, if they blow the spread out on you, you sure as hell don’t 

want to be in a long position … at least on the short side, you got some 

downward momentum in your favor that can make that spread difference up if 

you get caught in it”.

I want to make it clear, though, that none of the problems with spreads is a 

Turnkey Forex problem … hell, they’re simply the brokerage house, and 

they’re passing through the MT4 the scumbag LP bank quotes … it’s very 

much the damn banks, and like I said, we get what won’t get them indicted in 

a highly volatile market like today … when we have conditions like these today, 

every day is Christmas as far as they are concerned … “quote ‘em, tag ‘em, & 

then bag ‘em … have a nice day, please come again”!

So far today, my MT4 screen via the M1’s, has a 30 point grid, with at least 

60% - 70% of the M1’s exceeding that point range within 1 minute … this is 

just nuts. And the dirty little secret is, you get on the wrong side of one of these, 

or two or three, and you’ll be bleeding red ink all over the floor, cuz there is no 

way of knowing or assuming where it will stop with any confidence whatsoever. 

“So Skippy, you assess the day’s trend, and show patience & discipline in waiting 

for the proper “setup” … when you get it, you pounce … when you get the spike 

in your profit direction, you liquidate, you don’t sit around the faculty lounge and 

pontificate the wonders of technical analysis … when you got profits, don’t be so 

eager to go back in and attempt to give it all back … especially from the short 

side”!

Here in mid afternoon, the DOW30 has seen a couple of “dead cat bounces”, 

but things have slowed dramatically from a couple hours ago, as the market 

drifts sideways with a definite downward bias … with a little over 2 hours and 

change to the close, stock indices are hitting new lows for the session … “good 

grief could this get ugly … and not just on the way down either … sorry, I don’t 

have much experience trading a DOW30 700+ point range going into the close, 

except to say, leave it the hell alone or you get hurt, cuz it is not going to be pretty 

for either longs or shorts”.

I have no idea when or where this ends, but I can tell you how it ends … we 

need to see total selling capitulation on the New York open, not the close 

… until we get it, prices most likely go lower … and so far, none of the days up 

‘till now have seen this … it’s always been the Chipmunks buying the open 

… “not until everybody pukes, will we have seen the bottom … where that is, I 

haven’t a clue … I’m here to make money, not prognosticate from the faculty 

lounge”!

With Asia & Europe closed today, what the hell happens tonight when they 

reopen? Get ready for some wild price swings, as this week goes full retard into 

Friday’s NFP … “well actually, we’re already at full retard; Dow30 off 

approximately 450+ points very near the close with a 835 point range for the day 

… careful the volatility animal you wish for, but remember … it’s risk control that 

makes you a millionaire”. Until tomorrow mi amigos … I’m outta here for some 

Vitamin C therapy [Corona & lime] … Onward & Upward!!

PAMM spreadsheet directly below.

 

Have a great day everybody!

-vegas

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