THE UNOFFICIAL LAST TRADING DAY OF SUMMER

 

“Unless you’re a scumbag LP Bank Preezy … then, it’s good to be a Gangsta!”

Well, here we are, the unofficial end of Summer 2018, and before kids go back 

to school, the boats are dry-docked for winter, the cabin at the beach or lake 

locked up, it’s once again time to take stock of the world’s financial status … in 

the infamous words of one John “Bluto” Blutarsky, “My advice to you is to start 

drinking heavily”. Cuz one glance at the world’s financial system, especially 

Emerging Markets [EM] and U.S. equity indices, and you’re more than likely 

to get either extremely dizzy and/or sick.

I learned long ago as a trader, that the axiom of “spread your risk” around the 

system was pure bullshit … gains don’t mean shit, unless they’re liquidated 

and the money is in the bank … what looks good or “OK” one moment, turns 

to bat shit the next second, and the difference between winning and losing isn’t 

just a function of money … it’s a function of liquidity, pure and simple. And as 

people have to be constantly taught with every generation, spreading money 

around to different piles of stinking shit doesn’t make the stink of the piles go 

away … “Oh, I got money in Turkey, Venezuela, Indonesia, Greece, Italy, 

Argentina, India, etc. … I’m diversified, so no one country can hurt me, and I get 

high yields on their government bonds, so I got that goin’ for me”! Sure ya do 

… until the FX of all of ‘em go south so fast, with zero liquidity to get out, that 

your entire pile of assets can’t buy a cup of coffee at Starbucks.

I see the other day on ZH, that according to BoAML [Bank of America Merrill 

Lynch], 40% of household wealth in the U.S. outside of home equity is held in 

passive investment vehicles in the stock market via ETN’s, ETF’s, & index 

mutual funds … 40% … “any idea what happens when ‘Murica folks get 

nervous and try and sell trillions of dollars of stock and there are no buyers”?  

Well, take a look at EM FX for a clue.

Turning to today’s EURUSD market … as expected, quiet Asian & European 

session with very little movement … today’s action will more than likely be 

centered around the NY afternoon, after Europe is closed, when Fitch 

announces ratings on Italy … a downgrade and/or negative watch status would 

more than likely lead to some EURUSD “Thelma & Louise” action before the 

close and into the weekend … how serious? … dunno, until Fitch spills the 

beans and gives their reasoning on why anybody with one functioning brain 

cell would put money into Italy.

“Well, that escalated quickly to the downside, didn’t it”? Italian bond yields 

blowing up, and thus pressuring EURUSD sell stops, which dutifully get set off 

and executed with a guillotine by the scumbag LP banks … “it never ends, cuz 

everybody in the loop gets fed off it … the Pols, the regulators, the brokerage 

house execs, and of course the scumbag banks who front run the shit out of ‘em 

… and if you ever wonder why this “wild west” isn’t better regulated, there’s your 

answer in a nutshell … who of any financial and/or political importance wants it 

to end”?

Quite frankly, coming into today, I want nothing to do with the “Fitch fiasco” 

coming this NY P.M. … I have no idea what these asshats are gonna do or say 

RE Italy, and whether or not it’s “buy the rumor, sell the fact” or “crush the 

Euro” before the Holiday weekend … in any event, conditions are so thin my 

order box looks and acts like it’s on drugs … up/down multiple PIPS within 

milliseconds followed by mind numbing nothingness, and then BOOM!, here 

come the vicious spikes. And vicious they were to sell stops with some nasty 

fills nobody is gonna like.

Yea, EURUSD has a good range today … not all that surprised, but it doesn’t 

matter … cross flows from EURGBP & EURCHF, to name just two [2], as well 

as “risk off” before the Labor Day Holiday, make this a very highly dangerous 

day I want to avoid … especially in light of some of the thinnest bullshit 

conditions I’ve seen in a while from FX … there ain’t nothing here, and what is 

here doesn’t want to be here trust me … it’s called I’m being forced out of longs 

or I have to do some corporate order … other than that, there is NADA!

No trades in the PAMM today.

As I said, I want no part of this crap … it’ll be here after Labor Day and some 

of this “financial dust” settles … until then, you risk 10 to make 1 … screw that, 

cuz all you’re doing is playing right into the scumbag LP bank’s hands for what 

is likely to be some of the worst fills you can imagine. Yes, there were plenty of 

algorithm signals today, but I ignored them simply cuz the trades 

aren’t/weren’t worth the risk in the market, given the lousy trading conditions 

… biz returns to normal next week.

Special blog post on Sunday night, as I outline our C2 [Collective 2] signals 

service in EURUSD, along with details. And with that, I’m outta here … until 

Sunday night mi amigos … Onward & Upward!! PAMM Spreadsheet will be 

back soon.

Have a great Holiday weekend 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”!

 

 

MANIPULATION ANATOMY [IT’S OK CUZ THE EU DID IT]

 

“You’re too stupid to understand what’s good for you!”

“Well, wasn’t yesterday a classic lesson of government manipulation in action 

… buy hey, it’s OK cuz they get to do it, and besides, look at all the side benefits 

like hookers & mistresses get Christmas early this year from the Elites who run 

things … and since they know best, it’s in the public’s interest cuz you’re too 

fucking stupid to even feed yourself let alone decide financial stability … leave it 

to the smartest people in the room, OK”?

I’m referring of course, to yesterday’s blatant “readjusting” of EURGBP, 

where the Twits at the ECB trotted out Barnier to wax eloquent on “Brexit”  

… nobody can remember what he said, cuz he speaks in doublespeak bullshit, 

no doubt learned at one of Europe’s finest indoctrination centers known in 

some parts as college … no, his goal was to “talk up” the advantages to Britain, 

and let the rest of the ungodly world know that the E.U. was Santa Claus, and 

that there were so many gifts to be given to the British, and that they were 

being so magnanimous in negotiations, that the Brits never had it so good 

… “well, who the fuck knew that”? EASY PEEZEE: “Nobody but the E.U. 

insiders that got short the cross right before he steps up to the microphone 

… make no mistake, Barnier’s job was twofold; 1) kill EURGBP lower, and 

2) make a shipload of money quick for the manipulators [hey, we got bills to 

pay] … mission accomplished on both fronts, with the added cherry on top of 

specs getting blasted”.

And of course today, according to no less an authority than www.forexlive.com 

in earlier news headlines, “Barnier was more neutral in his comments to a 

German news radio program than yesterday regarding “Brexit”. … well, no shit 

Sherlock! … let’s just walk back some shit a bit shall we … no need to be too 

obvious you were the ECB’s Chief Patsy yesterday in manipulating EURGBP 

lower … EXIT QUESTION: “Did you make enough on your shorts to get your 

mistress a brand new Mercedes like she wanted”?

The setup here was perfect; 1) EURGBP makes new yearly highs, thus 

bringing in all the “trend followers” to get long, 2) GBPUSD is so oversold it 

isn’t funny anymore on the daily charts, and 3) markets are thin heading into a 

U.S. Holiday weekend. All of this, of course, the perfect backdrop to do some 

serious retail ass kicking as well as make a few bucks for those in the loop 

… and here comes Barnier. To be sure, the scumbag LP banks were most likely 

in on the scam, as the Elites don’t want to “burn bridges” with the hands that 

feed them. “Ho hum, just another FX scam … like the one on Christmas Day 

with EURUSD getting “monkey hammered”, then miraculously recovering, and 

then 9 days later it’s 1000 PIPS higher … but like I said, it’s “OK” cuz they do it 

… if anybody in the private sector tried this, they’d be in a fucking jail hole so 

deep they’d almost be in hell … you know it, I know it, and they know it 

… welcome to FX everybody”!

Turning to today’s EURUSD market … complete bank run bullshit, so what’s 

the point in trading? … not a rhetorical question either, cuz with zero volume 

and even less liquidity, EURUSD goes where some scumbag LP bank wants it 

to go for a corporate order front run … rinse, repeat, and you get the idea.

How thin is this crap today? … glad you asked … didn’t really expect to see a

“Thelma & Louise” right before the NYSE opened, but the market was ripe for

some kind of fall … first trade after taking out yesterday’s low, and on the way 

down to the 1.16441 low [so far], at 1.16455 I entered buy order and got filled 

at 1.16494 … “FFS! … WTF is this shit! … oh wait … it’s the “fair & honest” 

fills we get from Turnkey’s wonderful group of fucking thieves known as scumbag 

LP banks … cuz, you know, market conditions, duh … I would complain to them, 

but what’s the point … Turnkey, like every other brokerage house, could care less 

and ain’t gonna do shit about it … this is life in FX sometimes”. Oh boy, can’t 

wait to see the rest of the day.

One of my “golden rules” of trading, which has served me well, ever since 

electronic platform trading took over and gave power to scumbag LP banks, 

instead of the boy scouts in the pits [just a little snark here], is that when you 

get absolutely bent over the farmyard railing, over by the pig pen, by the 

scumbag bank on an entry fill, is to look to get the hell out anyway you can 

when you get up money in the position … the vast majority of the time, it’s the 

right move … the 7-11 robbery simply skews your profit position, and today 

was no exception on this first trade. 

And other than that, today’s sudden U.S. session drop, after near comatose 

conditions for the first 13 hours of the day, no doubt helped to the downside by 

some painful EURGBP & [to some extent] EURJPY long liquidation, that has 

come from the E.U. manipulators … we may see some more legs lower. Cuz 

with Italian bond yields blowing out, USDTRY inching towards 7:1 yet again, 

among other things like the Argentinian Peso getting clobbered, it’s hard to see 

EURUSD maintaining anything towards 1.17000 as we go forward with the rest 

of the day. Maybe, but I doubt it.

We’re now in the NY afternoon, and with Europe closed, round up the usual 

scumbag LP bank suspects to trade with, and quite frankly the bounces off 

interim lows aren’t for shit … they’re getting faded after only a few PIPS, and 

with EURUSD hanging around 1.16500, after a new bogus low was hit off by a 

couple of PIPS and now has rallied to screw shorts, it looks to me like this 

afternoon will be a complete bust … maybe EURUSD can go lower, but it’s 

gonna need some help from further EM crumbling down … more likely just 

more of the same “search & destroy” by Squid, JPM, & Citibank and nothing 

more than a light stop hunt on both sides of the trading equation, as it appears 

this stuff is slowly grinding lower. We’ll see.

Only one trade today … PAMM up slightly, a few bucks.

As I said earlier, “whaddaya gonna do when they screw you so bad on a fill they 

should be indicted? … well, the right thing to do is, whenever it happens, is to get 

out with some profit and then start over … and since then, this stuff has been a 

bucket of warm slop, with no real action to speak about other than touching off 

some light stops”. We already know they’re crooks, so … meh, shrug and move 

on.

Tomorrow most likely sees the worst of the week going into the Labor Day 

weekend, so it’ll be interesting to see when the music stops … my guess is, right 

after the NYSE open about 10 A.M. EST. … we’ll see what happens. So, up a 

few pennies today … onto tomorrow … I’m outta here early today mi amigos 

… Onward & Upward!! PAMM Spreadsheet will be back soon.

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”!