“Stuck in a long/short position in gold? … No problem, the dealers will help!”
“They are so predictable … like dogs who here the bell ring for a treat, the
“Chuckleheads” in Asia take the opportunity in the last half hour of the biz day
in Japan & China to ramp gold to the highs for the day … thank you, come
again! … and the dealers line up for the 1215 - 1216 buffet line, and feast on
some “long positions” carcass … same old shit, different day”.
The problem is twofold; 1) do they take buy stops out first or does the old high
hold, and 2) without some kind of retracement [“and no, 30 - 60 cents isn’t a
retracement”] on the subsequent “Thelma & Louise”, your only hope is to sell it
“in the hole” … now what, cuz 9/10 times selling gold on a break lower is a
recipe for a nice loss? … and then comes the mind numbing “chop” over hours
… and just like the cat above, your stuck, and we’ll eventually be there to help
you out, don’tcha worry ‘bout that … OK?
And of course, just like I predicted yesterday, the “Chuckleheads” get gold
pounded up the donkey, and then they take away the gain so frickin’ fast it
makes your head spin … and then we sit … can’t buy it can’t sell it, and gold
can’t move 50 cents in 30 minutes to save its life … and I got a news flash for
you, “this isn’t trading, this is roulette … place your bets, spin the ball around
the wheel, winner winner chicken dinner, you lose … rinse repeat almost every
fucking day without fail, and you don’t get free drinks either”.
Say whatever you want about the crazy action over in GBPUSD … it’s not
gapping anymore, just moving on “Brexit” bullshit … up/down, it’s all over the
place in 100 - 200+ PIP ranges that can at least be “traded” … if you lose one,
no problem, cuz the market is moving somewhere now and you can capture the
loss back … gold? … you lose 70 cents and you’re toast! … there is no trading
going on, cuz it’s simply dealer led bullshit, and trapping those long/short
… this market goes $5 in 4 minutes, then immediately spends 5 hours in a 50
cent range … “TNT & Crickets” … somebody give me an algorithm that can
predict accurately this phenomenon, cuz unless you’re sitting on the dealer
bullion desk, and have some inside baseball info, you got no idea what comes
next … welcome to the spikes from hell!
To make matters worse, put all this shit inside very tight ranges of $4 - $5, and
it takes very little dealer horseshit to bring pain to one side or the other … cuz
with tight ranges, both the high & low act like “magnetic attractor beams” for
stops, which is what dealers feed upon … and they’ll bleed the market one way
or the other, take out said high/low by a few pennies, click off some stops, and
then it’s the spike from hell the other way in 3 … 2… 1 … good luck with this
shit OK? … and all that is happening is that the bullion dealers are playing
retail specs like a fucking violin … every single indicator on the MT4
providing fresh “false positives”, that they monitor in real time amongst their
client base … feel used and abused yet?
“Did everyone see that stop hunt on the downside at 15:03 server time … “you
know, the one where it hit a low on stops and then 1 millisecond later it’s $2
higher? … sure, somebody tell me again ‘bout “honest markets” with a straight
face … what a fucking joke … these bank execs should be in prison, but since
they spread the loot around among regulators, Pols, and brokerage house execs,
don’t expect anything to change anytime soon”.
So, after 15 hours of today’s trade, officially we got about a $10 range … on
the surface sounds OK, but almost all of it comes from about a dozen [that
would be 12 for you Obama voters] M1 spikes … the rest of the 99% of the 15
hours? … it’s a bucket of shit, pure and simple … and get caught the wrong
way on a dealer led stop hunt, and you can kiss profits for the day goodbye
… and in a nutshell, this has become a very big problem with gold lately
… and truth be told, it’s why many, many days there is no volume, cuz traders
have gotten raped, mauled, & robbed blind and said, “Adios assholes”!
Looking at today’s gold market … again Asia totally asleep until the final half
hour … Europe takes over and together they shove gold to yesterday’s high
… nice try fellas, but here come the dealers and now it’s fast trip to a new low
for the day, with the final $3 coming in seconds, only to see a straight up move,
as the SP500 melts down into its open, and then the “slow bleed” lower. “It’s a
wonder gold has any traders trading it given its dealer manipulated behavior
… as the folks at Sprott Metals say, it’s the COMEX con game”.
So, what line of bullshit do the dealers feed the lemmings over at Bloomberg
and/or CNBC today, cuz as we all know, markets have to have an officially
sanctioned reason to rally or drop? … is it the SP500, USDCNH, crude oil,
stronger/weaker dollar, politics, what exactly? … today its weaker stocks, all
wrapped up in a range that is pathetic … we should be seeing $20+ ranges in
gold given the environment we’re in … we don’t see them cuz the dealers and
central bankers don’t want that … shit could get out of hand, and we can’t
have that … you’ll never hear that, of course, right along with the
“Chuckleheads”, Mrs. Wantanabe & Gal Pals, & overt dealer manipulation.
The end result, is that we sit again inside this $6 bullshit, where spikes from
hell appear both up & down to shake the spec tree enough to get people to
puke positions … and it is very frustrating for me sitting here watching this
market turn into shit right before my eyes … cuz when Asia & Europe
basically disappear into thin air, as they have these last few days, that leaves
tiny ranges in the hands of the New York bullion dealers, and that means
trading trouble as sure as I’m sitting here.
No PAMM or C2 options advisory trades today.
I’m up for the late Asian session and into Europe through the U.S. day … since
I’ve started to do that, it’s been “Christmas Eve” trading conditions in all but
the last hour of Asian trading, inside minuscule ranges … with a $3 range, what
does a $0.75 rally/break mean? And, as we’ve seen yet again today, the “Flying
Wedge of Death” [FWD] is back with all its glory, to insure trader losses for
those looking to HODL … add it all up, and it’s a big bag of shit.
I don’t like sitting here, but I don’t like losses either, and it makes zero sense to
trade just to trade … and these last couple of days have been just about
impossible to catch unless you’re willing simply to sit come “hell or high water”
and risk bag loads of cash … so, PAMM will trade soon enough, for those
wondering.
PAMM spreadsheet will be back up soon … got a tech support call in a few
minutes from now to get it solved … it’s past my pay grade … that’s why I’m
posting early today ... until tomorrow mi amigos … Onward & Upward!!
Have a great day everybody!!
-vegas
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SERVICE. DETAILS IN “DOWNLOAD LINKS” SECTION IN
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