“The coming party in the gold market … it’s long overdue!”
First, a little bookkeeping … directly below, the latest 20 Day MA ranges, first
for daily ranges (orange), and secondly for 8 HR. range [7AM - 3PM EST.],
since the start of 2018. Last week saw a big anomaly, in that Thursday’s
massive range, the biggest in over 2 ½ years, kind of skewed things to the
upside … and while it created a bump in the daily 20 day MA range, it did
very little for the 8 HR range, which barely moved … without Thursday’s
action [which, thanks to Turnkey’s incompetence in keeping the Gerbils happy
and the MT4 running, we missed], both sets of MA’s would have dropped and
not risen like they did … it is what it is, and hopefully days like this are more
frequent in the future.
click to enlarge
I have traded gold [futures & spot] “off & on”, ever since the mid 1970’s, when
trading became legal again via futures, after FDR’s ban on the ownership of
gold via Presidential Executive Order #6102 on April 5, 1933. Strangely
enough, gold futures trading in Chicago began on New Years Eve, 1974. Gold
was the first “pit” I ever stood in when I began my floor trading career at the
end of Spring 1980 … back then the CME had the bigger gold futures market
versus the COMEX, but in the mid to late 1980’s, the CME lost the PIT
TRADED gold market to the COMEX in New York, for one simple reason; the
CME refused to make an “honest & fair” settlement procedure regarding
forward futures months years into the future, and the pricing dislocations that
resulted pissed off greatly the commercials … sure, the CME now owns
COMEX, having merged that exchange into the CME on August 8, 2008
[along with NYMEX at the same time], for the very simple reason the New
York exchanges did not have the money necessary to build out the computer
networking infrastructure that could compete with the CME’s Globex
… therefore, the easiest thing to do is merge and reap the benefits of the
CME’s marketing & political muscle going forward.
I’m one of a few people, that can honestly say, I’ve seen everything there is to
see in the gold market from the beginning … all the bullshit shenanigans that
were pulled in the pits, the taking down of the Hunt brothers by exchange
elites with the help of government, the wild years & the quiet years of trading,
the passage of the idiotic Dodd-Frank legislation in 2010 that prohibits US
brokerage houses from trading spot gold [XAUUSD] cuz … you know … it’s
the “Chicago Way”, eliminating competition thank-you-very-much ex-Preezy
Hussein, and the suppression of the price of gold starting in 2012 with the help
of the FED & BIS [Bank of International Settlements] in creating the “Rally
Protection Team” [RPT] to frequently & viciously punish the price in seconds
by selling massive amounts of futures contracts [15,000 - 50,000+] at the
market without regard to price, through their BFF’s Vampire Squid [GS]
& JPM.
Pendulums swing both ways … and now, here we are in late 2018, and with
President Trump in office & Spicoli now running the FED, the “fat finger” of
the manipulators are absent … in percentage terms, gold at current price is
down approximately 40% from it’s highs in September 2011 … meanwhile,
global debt has skyrocketed, with more to come … directly below, our
collective future given the status quo … this chart is from “The Heritage
Foundation”.
click to enlarge
“It’s clear to me going forward, there are only two markets to truly “trade”;
1) spot gold [or futures], and 2) crude oil futures [either WTI at the CME
and/or Brent at ICE]. At present, I don’t see any way possible for a
reasonably priced, fair & honest, CFD in crude oil to become available … all
that is out there is rigged bullshit guaranteed to rip you off “bigly & yuge”
from the scumbag LP banks … bottom line is that the oil industry has no
counterpart to the LMBA [London Bullion Market Association], which
oversees the OTC gold market upon which we trade XAUUSD through the
electronic platform of the world’s major gold bullion dealers … in other
words, the CME can go pound sand.
The crude oil biz worldwide has dozens of grades of oil, that are bought/sold
through cash broker/dealer networks and hedged via the WTI and/or Brent
futures contracts … each day, this makes for the most heavily traded industry
group, with volumes in WTI & Brent approaching 2 - 3+ million contracts a
day, and therefore the CME especially, has great leverage over the oil business
… and more importantly the companies, broker/dealers, and scumbag LP
banks that trade their contracts … “any of these outfits try and arbitrage
CFD’s in crude oil by hedging in futures is gonna meet the wrath of the world’s
largest commodity exchange, cuz the way they view it, you’re stealing business
away from futures exclusively, and that costs them money” … bottom line:
“there isn’t gonna be any CFD anywhere that threatens competitively the price
structure of the CME … fugetaboutit”!
Every day, I wake up and see the headlines making the rounds around the
world, and what do I see consistently each day … “I see POLS & Apparatchiks
doing their best to manipulate FX constantly … I see bullshit so high, I need an
extra long shovel just to dig out and breath … and quite frankly, I’m tired of the
constant shenanigans of attempting to fund the “mistress accounts” at my
expense, as comments swirl and FX pairs skyrocket & swoon over pure bullshit
… it’s a recipe for disaster. Meanwhile, over in stock indices, it’s the never
ending stream of the “Plunge Protection Team” [PPT], high spreads, and
outrageous slippage that would make Vito Corleone purple with jealousy”!
And through all of this never ending financial trading industry horseshit in
currency FX & the stock indices, who’s talking about gold? … who’s
manipulating gold for the mistress accounts? … who’s attempting to shove
gold one way or the other? … “Well, nobody, that’s who, and that makes this
market as close to “fear & greed” via collective human behavior, as you’re ever
going to see in any traded market now or in the future … you mention the word
“gold” to anybody outside the U.S., and their eyes glaze over thinking about
money”!
And these are the reasons I’ve decided to go “back to the future” of my trading
roots and concentrate wholly on gold as a trading market … make no mistake,
at some point in the future, we’ll branch off into oil futures and cover them as
well … “cuz oil, right along with gold, are the two [2] markets in the “eye of the
hurricane” at the moment, and things remain calm … if you think things will
stay this way in the future, I’ve got some beachfront property in Kansas I’d like
to show you! … going forward, the opportunities in oil are at least as good as in
gold” … for oil, not so much in the PAMM, cuz you can’t split futures
contracts, but over at C2 with signal service for WTI futures both short term
trading & position trading utilizing exchange traded options; that will come
sometime in 2019, at a price nobody that trades these can resist
[“mucho el cheapo mi amigos”]. Quite frankly, when I say “el cheapo”, I’m not
kidding ...anybody who trades oil, both short term or via position trading
utilizing options, will have access to our very best quantitative algorithm
models through the signals, at a price THAT’S CHEAPER THAN THE
SALES TAX YOU PAY ON YOUR STARBUCKS COFFEE & DANISH
EACH DAY!
And, since I’m on the subject, it’s not too early to mention that anybody that’s
a subscriber to our gold signals at C2, when we roll out the oil service, can
receive the oil signals for both short term and position algorithm signals,
FREE OF CHARGE, for as long as you’re a gold signal subscriber. More on
this, obviously, in the near future as we get into 2019. So, a lot on our plate as
we move forward into 2019!! IMHO, these are THE only two markets, that
provide us with consistent above average volatility, ample liquidity & volume,
and most notably decent fill pricing upon entry/liquidation without getting
“mugged” by the scumbag LP banks.
Onto this coming week … any bets on whether Turnkey can keep the MT4
running? … or do they run out of Gerbil food keeping the Gerbils happily
running on the Hamster wheel and powering the whole “shitshow”, and it
crashes & burns again? … I guess we’ll find out shortly won’t we? Until
tomorrow mi amigos … Onward & Upward!!
Have a great rest of your 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”!
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