“How Wall Street really operates!”
Every morning is the same … “pump” … overnight and/or in the New York
afternoon at some point … “dump” … now, this wouldn’t be so bad, if it
wasn’t about 1000 DOW30 points we’re talking about … and the turns are
“off the wall vicious & lightening fast”. If you’re late less than a second, you’re
gonna get punished, sometimes unmercifully. Like today for instance, after
rallying all morning, that 150 point drop in less than 2 minutes, that sees sell
stops getting crucified, before resuming the rally almost straight back up.
And it’s classic “pump & dump”, where you literally have no chance at the
turn, cuz by the time you see it or sense it, it’s too late, cuz the scumbag LP
bank’s are already snowballing it lower faster than your machine knows, and
guarantees a terrible sell fill down near the bottom. “Seriously, when does this
shit end? … this isn’t trading, this is Russian Roulette”.
Turning to today’s dysfunctional trading action … everything is panic, either
up or down, take your pick, and while you’re at it, round up the usual suspects
in turning markets into one big casino … only difference is they got no buffet.
“Well, that escalated to the downside quickly, didn’t it”? Nothing says panic
better than down almost 300 points in less than 50 minutes … is it President
Trump’s personal lawyer getting the “FBI full monty”, just “technicals”,
something Xi said nobody knows about, or the assclown Zuckerberg from
Facebook about to testify in front of the Senate? Quite frankly, I haven’t a
clue.
What I do know, though, is that when a market rockets up straight or
plummets straight down, over many hours with no retracement, that when
that retracement comes, it will catch most traders off guard and hurt them
… more so in the electronic era, where nanoseconds matter. Step in front of
these “freight trains”, no matter the direction, and you’re asking to get carried
out on a stretcher, simply cuz if it keeps going it’s gonna be uglier, and hurt you
more … I would agree, that most of the time, you can capture a profitable trade
off the move, but when it doesn’t work out, that one time will cost you 50
profitable trades and has the potential to be a bloodbath. And, for the second
time today, yet another down panic move of over 100 + points in under 2
minutes, followed by the slingshot move straight up. “This is absolute stupidity,
with an entire afternoon of trading left to go … up or down, or both, another 300
points”? A “perfect storm” of political, economic, FED induced, China trade
war, & all around uncertainty in the air atmosphere that unleashes a literal
torrent of buys/sells in less time than it takes to drink a Coke … with absolutely
no room for error.
Only one trade today … PAMM up between 0.1% - 0.2%.
Outside of the one “setup” I had today where the market traded very well, the
other “setups” were either too deep in scope, like 50 points, or the right hand
side of the turn happened so quickly, it was 20 - 40+ points up through the
neckline in a heartbeat … and I’m not paying up to do that. If I had to best
describe this market in one word, it would be “treacherous”.
Not helping today’s trade, our lovable scumbag LP banks continue to play
games with the spread, not satisfied with keeping a legit 2 point spread, but
instead blowing the spread out when they can at the turns of moves to trap the
unwary, who are literally 1 second too late in the liquidation, and pay dearly
for the delay. Directly below, just 2 examples from today, where if I wanted, I
could easily post 20 … “liquidity providers my donkey; simply thieves”.
And again today, nobody has a clue what the last 90 minutes brings … “Thelma
& Louise”, or “Rocketman”, or maybe even both. We’ve gotten to the point in
the DOW30, where these very large moves are creating a self-fulfilling
prophecy … the more they happen, the more we get. Problem is, if you’re
wrong, there isn’t any place you can hide going into the close to try and make it
back.
Tomorrow brings CPI & FED minutes, while tonight China will undoubtedly
due something to stir the pot even more … in any event, 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
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