ONCE AGAIN, THE PENDULUM SHIFTS

 

“Who knew Poe traded EURUSD?!”

Suddenly, the light switch goes off, and the world is now “risk off” … amazing, 

since up until the end of last week we were assured by the Elites of the world, 

that everything was so amazingly F-ing awesome, that there were no worries 

anywhere … stocks to infinity, EM solved, and a chicken in every pot.

And then reality bites … “cuz here’s the dirty little secret about FX in general 

… nothing in this world looks so “Hoover Dam” good one minute, and we’ve just 

started the next great bull market in whatever; down ticks be damned cuz we’ll 

never see them again … and 2 hours to 2 days later, the horror of that bubble 

bursts and the largest bear market ever seen in history is about to unfold before 

your eyes, and none of this stuff has a prayer of rallying 5 PIPS to save your life 

… and back & forth we go through history and on into the future”!

So, here’s the $64,000 question: “Is this by design or coincidence”? If you 

answered “coincidence”, go back and take the test again. 

Turning to today’s EURUSD market … “mind numbing boredom followed by 

spikes lower, then higher … didn’t make much sense going down, and makes less 

sense going up … and like last week, volumes are pathetic and liquidity is even 

worse”. I’m left wondering why even have trading during Europe? … it’s not a 

rhetorical question … seriously, a less than 20 PIP range over about 5 hours 

that goes nowhere … only when traders get to their desks in NY, does the 

market wake up and do anything.

Short blog today, as I’m getting docs done as well as things with C2. “Risk off” 

pretty much sums up today’s market sentiment, but U.S. data was strong this 

morning, which led to early Euro weakness, but EURUSD off the low has 

caught a bid, and while we’ve had signals, volatility has really sucked today, 

being explosive one moment and then dead the next hour … and while the 

day’s range in theory is decent, the day’s intraday volatility has been anything 

but … in other words, this is a clusterfark of kill the longs, then kill the shorts, 

then go dead … thank you scumbag LP banks.

A couple of trades today … PAMM up a few bucks.

Both trades off algo signals, but I wasn’t willing to hold them … they were 

scalps at best and were treated as such. First we go down practically 6 hours in 

a row, then it’s up 5 hours in a row … nothing more than bank led 

manipulation carryover from last week, then go stop hunting.

Tomorrow hopefully sees better action. Until then mi amigos 

… Onward & Upward!!

Have a great day everybody!!

-vegas

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