“A little humor to get through Hump Day with a semblance of sanity!”
Browsing the news wires yesterday, while gold was dying and stock indices
soaring, I wondered if it had anything to do with the brand spanking new
“political scandal” up in North Dakota involving the incumbent Libtard babe
up for reelection, where she published sexual abuse claims in a political ad
without their permission? … and not only that, but she got some names wrong,
got women who never have been abused, and basically outed them all for
political purposes without their permission … and without her winning, the
Lunatic Party [a/k/a Democrats] has zero chance of retaking the Senate.
At the same time, I see a poll, that in the 66 House races that are competitive,
and will determine who controls the House, the Repubs are +1 over the tinfoil
crowd … might both of these have something to do with stocks skyrocketing
yesterday? … This would also explain why gold didn’t break as stocks rallied,
simply cuz the gold market knows that R’s can fuck up anything if given the
chance, their history at self immolation a classic bedtime tale.
In short, there is NO “blue wave” … unless you’re looking at the blue water in
the toilet as it’s flushed … if anything, it could be a “red tsunami” … dunno,
just sayin’, not predictin’ … but I simply can’t figure out why anybody
[meaning US citizens] with one functioning brain cell would want open
borders, elimination of ICE, sanctuary cities, more crime, more gangs, more
unemployment, higher taxes across the board, and a lower standard of living
for everyone … and while U.S. equities, and their representative stock indices,
aren’t out of the woods yet and maybe it was a “one hit rally wonder”, I think
yesterday’s stock market might have gotten some people putting money to
work cuz they see the political handwriting on the wall … and that
handwriting is gonna be sad news for Libtards. “Cuz, when I see Cocaine
Mitch, Lindsey Graham, and a bunch of other Repub Senators all of a sudden
growing spines and a new set of balls, it tells me internal, reliable polling, shows
Libtards have overplayed their hand on soooo many issues, that the public is
pissed and ready to punish the shit out of ‘em … and if you watch closely
President Trump’s midterm election rallies … well, never in my life have I ever
seen such enthusiasm emanating from a crowd that is overflowing outside by the
tens of thousands who couldn’t get in … somebody show me Libtard crowds”!?
Gold has a different dynamic … and as I’ve written about recently,
government math is headed in the wrong direction at a frightening pace
… “you can only ignore the math for so long, and at some point reality kicks in
… and when that insolvency reality takes hold in the next downturn, look the hell
out … cuz we’re running almost trillion dollar deficits in “good times” … what’s
it gonna take to get out of the next crash? … and gold, along with crude oil, will
have volatility like you’ve never seen, and there won’t be a “Hoover Dam” thing
the FED can do about it”.
Turning to today’s gold market … “oh those loveable "Chuckleheads" in Asia!
… selling gold off, until the Asian close where they panicked and sent it to the
day’s high … as a group, can you think of a worse bunch of traders anywhere?
… I can’t … they’d be better off just staying in the casino”.
And apparently, today has decided to be like the last 4, which is nothing more
than the “Flying Wedge of Death” [FWD], with tiny New York range, and then
in 2 or 3 minutes entire hours are wiped out … “a whole new generation of
traders, who have no clue about gold, it’s history, the bullion dealers, the
“Chuckleheads” in Asia led by Mrs. Wantanabe, and/or the history of how this
market trades, are in the process of finding out how this market frustrates traders
to no end, and ultimately leads to losses”. NEWS FLASH: “you ain’t seen
nothing yet”! Since last Thursday’s price explosion, New York metals dealers
haven’t attempted once to take the market lower and threaten overnight lows
[that’s zero times for you Obama voters] … and while last night saw some light
selling pressure early, as mentioned previously, the “Chuckleheads” outdid
themselves panic buying into the European open … when I see this, I just shake
my head and think … “idiots”.
In order to make money in gold, you have to understand how the bullion
dealers work … if you don’t, you don’t have a chance in hell … might as well
play Keno in Las Vegas … and while the “Rally Protection Team” [RPT] is
more than likely still in place, the latest COT report on gold has commercials
LONG and retail specs SHORT the most since 2001 … yes, 2001, when gold
was around $300 per OZ. Dealers sell rallies and buy breaks … retail specs
buy rallies and sell breaks, and then act surprised when their stops get hit off.
And right now, a whole bunch of traders have gotten long off of last
Thursday’s big move up … on the aggregate, I’d guess positioning is UP a
couple of dollars per OZ., but nothing more … there will be some good sell stop
action here in the next day or two heading into the weekend, and will more
than likely lead to good long trades intraday … we’ll see what happens.
And I thought yesterday was bad for trading action … 5 hours into our day,
and it’s $4 from the tips for a range … can’t sugarcoat this miserable POS
… won’t rally cuz the “Great Bullion Wall of Selling” is in place, and can’t
break cuz buying below 1225 … at some point here soon, this shit ends, and
more than likely it’ll be to the downside with sell stops getting hit off on some
kind of “Thelma & Louise” chart break below 1224, then 1220 … maybe later
today, maybe tomorrow, dunno, but the action can’t stay coiled like this for
long.
Only one PAMM trade & C2 signal … PAMM up slightly.
Got two [2] algo buy signals … one legit, the other volatility too low to take, so
it was skipped … and like I said yesterday, when this shit doesn’t want to move,
it literally doesn’t … it will make you think moving 50 cents would be a miracle
of some kind … again today, stock indices all over the place, but gold can’t
move … it’s after 1 PM EST., and it’s torture watching this stuff go up a penny
then down a penny … “again, this is pathetic, but whaddaya gonna do”?
Algorithm signals continue to really shine exceptionally well … all we need now
is market action … it is what it is, and all I can do is wait it out and take what is
given … anything else is “stupid shit”. Outta here early, cuz I can’t take this
paint drying … until tomorrow mi amigos … Onward & Upward!!
PAMM Spreadsheet directly below.
click to enlarge
Have a great day everybody!!
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