“Can we just go straight to Wednesday’s FED meeting please!?”
Friday’s 3 hour unusual burst of trading activity notwithstanding, this is one
sick market … consider that, we broke through daily & weekly resistance at
1243, and what happened? … very little accompanying volume and price
movement to the breakout, and nothing but another “Great Bullion Wall of
Selling” slightly higher around 1250 … big whoop. And with that breakout,
looking at yesterday’s 20 Day Range MA in gold, to new lows for 2018, should
be a gigantic “red flag” that there is zero behind the move … in other words,
it’s the same old shit, different day syndrome operating in gold, thank you very
much bullion dealers.
The big risk at the FED meeting on Wednesday, is that the faculty lounge
Twits over at the Eccles Building in D.C., don’t see any problem with
continuing to hike rates, not only on Wednesday, but also in 2019, and the
markets can go to hell … if that happens, and don’t discount the possibility,
gold will get “monkey hammered” lower … a dovish tone, though, will support
gold as it does now, and a realization that, indeed SHTF has arrived and rates
need to be “softened” some going forward, and gold could move substantially
higher … and so, don’t look for much in terms of volume or price movement
until Wednesday, but who knows really what the bullion dealers have in store,
cuz as always, their BFF’s at the FED aren’t gonna let them stay in the dark as
to what they intend to do … as always, they know ahead of time and position
accordingly. That means it’s dangerous as hell to assume tight ranges have to
be in the cards until Wednesday.
“Well, I don’t even know what to say about this market, cuz I’ve run out of
adjectives to describe how pathetic it is” … the trading action is simply
atrocious … there isn’t anything here … there’s no “there” there … and then
somebody panics in 2 seconds, we get some spikes, and then zero trading
action for hours on end until somebody else gets to play the “Comex Con
Game”. And while the day’s range got extended due to both crude oil & the
SPP500 getting “monkey hammered” earlier today, all that happened was that
some shorts got creamed and panicked, and popped price for a few minutes
… once they were done, there’s nothing there to propel price higher … so, the
bullion dealers take it back down … “thank you, come again”!
Here in the New York afternoon, we see the short squeeze from those who are
positioned from Friday’s mini meltdown … no place to buy, and unless you’re
willing to buy the rally, which I most assuredly ain’t gonna do, you wait for the
break … and if there’s no break? … then you sit, cuz chasing gold is like a dog
chasing a car … if you get it, you’re usually dead!
Granted, a $13 range is better than we’ve seen lately, and somewhat surprising
given that Wednesday SHTF in a big way, one way or the other … like I said
earlier, you can’t assume a small range ahead of a big event, and those that did
today paid the price.
Now, after killing shorts, Squid & the boys seem to have some longs by the
throat … bottom line is, though, gold ain’t going anywhere until at least
Wednesday afternoon at 2PM EST … until then it’s range bound, and if you
can get some kind of good two-way trading action early, which we haven’t seen
in weeks, then a trade makes sense … however, straight action is almost always
countered later by action the other way, serving the purpose of trapping both
shorts first, then longs … without the two-way trading action, you just have to
leave it alone, otherwise at some point you get trapped by the bullion dealers.
No trades today in the PAMM, or the C2 options signals service.
Although the range was higher than we’ve seen lately, it’s deceiving cuz there is
no trading in it … it’s either straight down or straight up, with zip in between
… people get trapped and then panic, and when that’s over, it’s rinse, repeat
and let’s do it again.
If we can get action earlier, I’ll participate, but shit like this in the PM is
verboten in my book, simply cuz most of the time it’s set trap by bullion
dealers to move the market the other way … thanks but no thanks.
So, we’ll see what tomorrow brings … not optimistic of any early trading
action, but not prejudging the day before it gets here … please visit and read
on strategy regarding NADEX “binaries & call spreads” … today saw some
more “RISK FREE” trades in the binaries, that you should be aware of and
taking advantage … on margin needed for the trade, you’re looking at over 7%
per day return on capital! … “can an offshore brokerage house offer that
opportunity to you”? … I’m outta here … until tomorrow mi amigos
… Onward & Upward!!
Have a great day everybody!!
-vegas
OUR TURNKEY FOREX “PAMM/MAM” IS OPEN AND
OPERATIONAL, AS WELL AS OUR C2 OPTIONS ADVISORY
SERVICE. DETAILS IN “DOWNLOAD LINKS” SECTION IN
RIGHT HAND COLUMN. START YOUR JOURNEY FROM
WHERE YOU ARE AT TO “ESCAPE TO SUCCESS”!
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