OMG THE YUAN MATTERS! … UNTIL IT DOESN’T

 

“Correlation trades work until they don’t … OMG nobody emailed me!”

Suddenly the Chinese Yuan matters … and then after about 7 A.M. EST, it 

didn’t … and while pretty to look at, they seldom produce like expected. AS for 

NDX100, the suckers investors keep lining up at the door for more no matter 

the bad news, no matter the time … “if the day ends in “Y”, it’s a good day to buy 

MOAR tech stocks with 100+ P/E ratios, cuz shut up, that’s why”!

Third day in a row of complete hog slop trading conditions … again today, 

can’t get more than about ± 20 points from the open, and all we see all day long 

after the “Yuan” mania, is the “Flying Wedge of Death” [FWD], as first longs, 

then shorts, get butchered by the banks and large hedge funds with stop runs 

that go nowhere. “If I wasn’t so cynical, I might begin to think all this is 

coordinated … nahhhh”!

Turning to today’s markets … complete slop in H33HKD overnight, with 

signals going nowhere due to lack of intraday volatility; the entire trade was 

nothing more than Yuan watching … that market didn’t move at all until the 

night session and New York took over … NDX100? … “well, it is what it is, and 

there certainly aren’t any “pony rides” inside 20 point moves that end as abruptly 

as they start”.

A handful of trades today … PAMM down about $20 & change on simply 

another nothing day.

There were times today, where my trade couldn’t even get out of the damn 

spread within 5-10 minutes, it was so bad … trading action simply horrible, 

with utter violence in USDCNH, on the day, most certainly not helping 

markets anywhere. The algo not really beneficial today, as volatility once again 

takes a vacation, and when the signals collapse unto themselves, what you’re 

left with is utter shit … all it takes sometimes is a 1 point move, and the algo 

oscillator goes “haywire” … when the volatility isn’t here, there isn’t anything 

you can do, and if you have any losing trade, good luck getting any move to 

help get it back, cuz most likely that isn’t gonna happen. The banks “bleed it” 

one way, and then on a dime they flip it and bleed it the other way, with most 

trend followers getting stuck short at the bottoms and long near the tops 

… “trust me, they know just where to take it to click off retail spec buy/sell 

signals en masse, and then shove it in your face”!

On the day, the NDX100 down around 0.4%, so our couple of collective bucks 

down again beats the index … “and that’s what we’re gonna do almost every 

day, which is beat the index"! Long positions today really hard to hang onto for 

profit, and the turns lower vicious as hell. 

On Sunday night, I’m going to be posting a special blog post on NDX100 

… until then mi amigos, I’m outta here … Onward & Upward!!!

PAMM spreadsheet will be totally updated and posted Sunday.

Have a great weekend everybody!!

-vegas

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