“Then grow up & run the Rally Protection Team selling gold!”
Second day in a row yesterday, we saw the “fat finger” of the FED intervene
and smash gold lower in milliseconds … not reported, or even talked about in
the financial MSM yesterday, just another “ho hum” $1 billion dollars, or
about 8.000 futures contracts sold at the market to push gold to the low of the
day, and more importantly punish the living shit out of longs who see their
sell stops filled at the low by the scumbag bullion dealer banks, who just
happen coincidentally to buy all those contracts and gold rallies … natch
… WTF did you think was gonna happen after the slaughter?
In hindsight, a perfect blend of distraction and “scumbaggery” on full display
… cuz while the world was fixated on “Brexit”, and the “shitshow circus”
going on in Britain, with play by play, second by second news coverage of
every rumor of every vote, nobody is paying attention to some
“slight of hand” that goes on in the gold market … and to that end, it
worked perfectly.
And since the “good ol boy network” works as well now in the trading
industry, as it ever has, nobody is gonna question anything, see anything,
hear anything, report anything, except what the masters of finance at the
FED want them to report … and anybody that steps outside of this
paradigm, will find to their great dismay, their career is instantly over and
they can’t get a job at fucking WalMart as a Greeter to save their lives
… “think I’m kiddin’? … go ask Kathleen Hayes, if you can find her, former
info babe on CNBC, who asked “The Bernank” some inconvenient questions,
and the next day she’s gone”.
So, in 2 days, the FED has “fat fingered” gold to the tune of approximately
16,000 futures contracts, worth about $2 billion dollars, both times creating
new lows for the day … all during the “shitshow circus” going on in merry
ol Britain … and so, who benefits from this manipulation? … “why of course,
our scumbag bullion dealer banks, who conveniently sold the shit out of gold
between 1315 - 1324, and who now reap the booty from not only the idiots at the
FED, but also from the obligatory sell stops triggered on the decline … feeling
manipulated yet”?
Welcome to the “Comex Con Game”, not anything unusual cuz we’re talking
about “scumbaggery”, the gold futures market, and those scumbags in the
banking industry … and as we’ve seen just recently with the Smollett
embarrassment, Murder, Illinois [a/k/a Chicago] continues to amaze and
educate the world in the “Chicago Way”, the entire world’s most corrupt city
from top to bottom, in every capacity known to man. There isn’t a single thing
that happens there that isn’t corrupt at the core … “I would classify it as the
world’s largest cesspool of crony capitalism, politics, law enforcement, judiciary,
& business shakedown practices, the world has ever seen … period.”
So here we are on day 3, and gold sits currently at 1307, and then BOOM!
… in less time than it takes to scratch an itch somewhere, gold is at 1305
… and now we are officially in the “danger zone” of a “surf’s up wipe out
zone” … where if you get long slightly above 1300 looking for support with a
sell stop for “protection”, what you end up with potentially is a stop fill well
below 1300 and some burn marks on your donkey. “Quite frankly, I don’t
think either the FED or the banks are gonna be happy until they wipe out the
1300 level on the downside … right now, there is ZERO interest in buying gold,
and the only tiny rallies I see are purely short covering from dealers … me
thinks the fix is in folks”.
“Well, that escalated quickly to the downside, didn’t it”? … 13 days of up
action wiped out in about 24 - 36 hours … and now the danger is the
1280 - 1276 level, which if breached, is gonna unleash selling hell all over the
place … and in addition, leave gold more vulnerable to bank manipulation
than ever before, as a shipload of Newbies to trading & investing, are gonna
swear off gold forever … that in and of itself almost makes it prophetic, but
we’ll see … right now, gold looks like it’s in ICU, and the funeral director has
been spotted on the premises.
Meanwhile, over in the newly formed police state of Britain, they can’t even
agree to disagree about our favorite soap opera, “Brexit” … they can’t pass
anything, which makes a “hard” exit even more possible from the E.U., come
April 12, which is the “new”, NEW deadline [cough, bullshit, cough]. The
real problem of course, and which is a B. I. Itch to solve, and which will never
be reported to the public cuz it’s too frightening to contemplate, is that the
major sticking point is that they can’t agree on the “who/what/when/ where”
ALL the graft, bribery, corruption, & influence peddling is gonna land. In
other words, in the thought process of a Pol, who gets what, and am I getting
the shaft? And until that gets straightened out [never], don’t expect anything
other than a “hard Brexit”.
Last night, just after the open of the new trading day [5 PM EST], Cable gets
“monkey hammered” lower by 100 PIPS, which kind of ruins the trading day
when pre-Asia steals all the action … stops get wiped out, people back away,
and the day’s trade becomes difficult at best. It’s bad enough when you gotta
deal with shit from Europe AND the U.S., and deal with the scumbag LP
banks during normal biz days … pre-Asia? … stop messing with me Skippy,
or somebody gets hurt!
Today is one ugly “Hoover Dam” day for gold … there was a slight move up
very early just above 1300, but it lacked conviction … in other words, no pop
to price, and I warned yesterday about getting long gold near century marks
or round hundred dollar levels … banks play games here to get the public to
think it’s bottomed, and intentionally set off many popular MT4 buy signals
… then they quickly lower the BOOM!, when the buy fuel fades … today a
perfect example of that … and after we busted 1298 on the downside, I had
no interest whatsoever in getting long gold today … with the quantity of
traders positioned long already, it had the potential to be a mini bloodbath,
and as it turned out, that’s exactly what happened as sell stops got hit off in
spades today … round up the usual suspects buying those stops at lower levels
like I’ve explained before.
Quite frankly from a technical perspective, gold is in some trouble price
wise … only a move above 1310 is gonna get the buy “MoMo” back, and that
is gonna be difficult without a lot of work here at lower levels … next up is
the 1280 - 1276 level, and if that goes down in flames, gold is gonna end up
like silver and you can put all the people who trade it in a phone booth
outside Domino’s Pizza somewhere … we’ll see what happens, but the reality
is the manipulators are in full control, and if this market loses more players &
investors, it makes it that much easier to keep the price down via sell side
manipulation.
You take a look at the action today in gold, and it’s a one way ticket to
oblivion if you were long … cuz when it turned you were toast, even if you
bought it perfectly … blink your eyes twice and that mini rally off the low got
faded like a cheap suit, leaving you if long with a painful decision that is
gonna cost you money. Other than the fact the whole world was/is long gold,
if you want to be constructive, this was a clean out day leaving people with
heavy losses and a bit perplexed. I said yesterday and the day before, that the
action was “not right” given the FED action, and add to that 2 “fat fingers”
from the manipulators makes it even more in the cards, that something to the
downside was gonna happen … question now is, is there another shoe to drop
to below 1280 in the days ahead? … and if that happens, heaven help this
market going forward, cuz the customers & investors won’t be coming back
anytime soon, and you’re looking at many weeks if not months of gold
piddling around, chopping building a base to maybe launch again in the
future, and how long that takes is anybody’s guess, but my best guess is that it
will be longer than most admit … I hope I’m wrong, but I’ve seen this before
from gold in my long career in trading, and it’s best not to ignore reality and
simply listen to what this market is saying. And right now, it ain’t good.
I spent today trading GBPUSD in my own account, getting back familiar
with Cable from a couple of years ago before “Brexit” turned it into the
“price gap” show every day … our specific proprietary algorithm in GBPUSD
has worked well, in fact really well … all we need is a modicum of volatility in
the Cable market, which is not in short supply currently, and the signals are
very reliable over the course of the day. Cable isn’t nearly as manipulated as
gold, although it’s got its moments in the sun … Cable is NOT correlated well
with gold, which is to its advantage, like USDJPY & USDCNH are … and
more importantly, slightly longer trends are in play in Cable, where they
aren’t in gold. Of course I’ll still trade gold, when it 1) is safe from massive
sell stops, and 2) when there’s reason to believe it’s in rally mode … on days
like today, forget it … I got no wish to be sacrificed on the gold altar, risking
mucho dollars for penny gains … what the hell sense does that make? So,
starting tonight I’ll be watching both markets for opportunities going
forward.
Onto tomorrow … I’m outta here … until then mi amigos
… Onward & Upward!!
Have a great day everybody!
-vegas
