SUNDAY UPDATE: SHTF TRADING

 

“Yea, you know who you are!”

The SP500 & gold charts directly below; “quite frankly, I don’t see how the 20 

Day Range MA in the SP500 can get much higher … it’s already at insane levels, 

which makes me wonder what happens to gold when it settles down some? 

… I’m thinkin’ we won’t like the answer”.

 

click on chartt to enlarge for ALL

 

Friday saw a “good news, bad news” trading session in gold … the good news? 

… the New York session range pops to $15 … the bad news? … once it goes 

down, hits off some sell stops, and then drifts back higher, that’s it for the day 

… there was one move down and one move up, and that’s it, cuz there was no 

trading in this market after that … nada … and all those looking at the SP500 

for correlation got stuffed. Trading conditions are so bad in gold, that even if 

you buy/sell at the right moment, the scumbag LP bullion dealers are just as 

likely to “slippage candy” you on your fill, as at any other time, and with 

spreads widened cuz they can and their pure greed knowing no bounds, there 

really isn’t any improvement I can see in this dying market. “I hate to be the 

bearer of bad news, but gold is going the way of silver as a “trading market” 

… everybody in the trading biz pretends it’s still relevant, but it isn’t … futures 

volumes suck and are a shadow of where they were years ago … the LBMA is a 

joke when it comes to XAUUSD, and they won’t even release volume totals 

… what does that tell you? … if your business in the real world was going down, 

would you raise prices? … hell no you wouldn’t, but in gold it’s the way the 

scumbag LP’s recoup lost revenue … in today’s shitshow trading world 

dominated by Pols & Apparatchiks, all that matters are interest rate futures, 

stock indices, USDJPY, and to some extent USDCNH … everything else is a 

sideshow”.

We will see if gold can continue what it started on Friday … I’m doubtful it 

can, simply cuz there are no volumes cuz there are no customers … Asia has 

almost completely abandoned it, and most days sees little interest from 

Europe … that leaves the trade up to Squid & the boys, and that mi amigos is 

a losing proposition every “Hoover Dam” time. Try and scalp gold, and what 

you’re gonna experience is you being the one getting scalped … the slippage 

and fills from these assholes is criminal, but since the regulators, Pols, & 

brokerage house execs are splitting the booty, there is no pressure from 

anywhere that matters to end the practice … they, of course, label themselves 

indispensable to the market as “liquidity providers”, which translated into 

English means “thief”, and everybody pretends they aren’t seeing what they 

actually see. And the amazing thing is, they can’t figure out why biz sucks and 

is drying up!

So, onto this the first full week of 2019 … if it gets crazier, then everything is in 

trouble … we’ll see what happens.

  

Have a great rest of your weekend everybody!

-vegas

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