“What to watch for trading gold!”
Yesterday a classic case of the “fat finger” of the FED, bailing out scumbag
TBTF & TBTJ bank LP’s from their short positions, minutes before gold
exploded higher … “who the hell else would be dumb enough to wait until then,
to unload 8,000 gold futures contracts worth about $1 Billion, and not care
about price, within 2 to 3 hours of the FED announcement? … only, the FED
doesn’t care if they lose money, they only care about ripping long position
holders a new donkey, thus setting off large sell stops below 1300, so that their
BFF’s can buy them before the big rally … it’s the only frickin’ thing that
makes sense, cuz if a money manager did this his clients would hang him for
negligence”!
And of course, later in the day when Asia opens, the “Chuckleheads”, right
along with Mrs. Wantanabe & Gal Pals bid gold to over 1320 … thus
insuring another debacle today as New York opens, tries to go higher, then
gets “monkey hammered” for about $8 lower … no doubt some sell stops
from earlier getting hit off for the effort … “all in all, just another well
documented gold scam that got conducted thanks to the FED, scumbag bullion
dealers, and the raping of customer orders … would love to be a “fly on the
wall” in the garage of the Pol who gets his cut this week … mmm boy, what
a haul”!
Throw into this toxic mix Turnkey Forex, who for some reason seem to
forget to feed their Gerbils on busy gold days when important FED and/or
economic releases are scheduled, and the poor dears run out of fuel to power
the MT4 trading platform … “listening to them, it’s simply an “unfortunate
circumstance” of an MT4 “glitch” that takes the platform down while gold
and everything else moves at the speed of light, and we’re left in the dark
… no worries, it’s only money, and it’s all fixed now”!
No response back yet from the “customer first” people, who are having a
tough time figuring out who the “people” are, and what kind of response the
lawyers tell them is advisable under the circumstances … “no doubt, they’ll
start an “INVESTIGATION” … you know, like the last 295,989 investigations
of scumbag LP malfeasance involving “slippage candy”, bogus bid/offer
spreads, & of course mystery ticks and spikes along with the outages, that go
unanswered and are never dealt with … the ones clients are supposed to forget
about and simply continue to trade, and not worry about mundane things like
getting royally fucked”! … welcome to Turnkey Forex and it’s the reason I’m
on a quest to replace these bums who don’t deserve our business.
As long time readers will remember, they did the same thing to us on
October 11, 2018, when gold had its biggest daily range in over 2 ½ years,
and Turnkey shut the MT4 off for over 3 hours … “amazing how these
glitches work and always happen around the same events, isn’t it”?
So here we are … yesterday gold put in a double reversal with range, an
event you won’t see 3 times in 10 years … today sees a large reversal with
range, a not very common occurrence either, maybe seeing this 5 times a
year if you’re lucky … add it all up, and it’s just another gold scam
perpetrated by the same suspects that having doing this to the precious
metals since 2012, and in earnest since the FED bailed out the oil industry
in February 2016 … all for the benefit of the banks at your expense … “oh,
and don’t forget the graft paid to the Pols, Apparatchiks, regulators, exchange
scumbags, and brokerage house execs, who all turn the other way and pretend
to notice nada”!
Gold not reacting very well to the extremely dovish FED from yesterday
… a dovishness almost nobody expected … the question becomes, “why isn’t
gold up $30+"? … and now, we’re sitting in the “barely above level” gold was
at before the announcement … and if you’re wondering if this is another
“keep gold down at all costs” by the manipulators and their BFF’s the banks,
the answer should be obvious … “HELL YES IT IS”! … “as I said the other
day, gold only matters when it does … and the day is fast approaching when
these scumbags can no longer perpetuate the Ponzi scheme, and gold goes full
retard Palladium into the stratosphere … over 1350, look the hell out … under
1350, it’s gonna look like the fattest kid in 5th grade running up the hill out
back of the school, with his pants falling down around his ankles and him
chugging for air as he makes his painful way to the top … eventually he gets
there, and for gold it’ll be Palladium all over again in spades as the world
panics for physical & paper metal”.
“Well, that escalated quickly to the downside, didn’t it”? … and just like that,
gold drops back down to where it was before yesterday’s FED hijacking
… I’ll say it again, why isn’t gold $30+ higher on the FED’s dovishness?
… SHORT ANSWER: “every manipulator on earth is throwing the kitchen
sink at gold to keep it lower and below 1350 … their goal is sub 1300 and take
pressure off the upside for now, and the way things are going today, it doesn’t
look good for the pet yellow rock”.
We are into the New York afternoon, and one thing you don’t do as a buy side
gold trader, is to try and bottom pick in the afternoons, especially if the range
is being extended to the downside more than is historically normal, and today
fits that bill … wander into this shit now, and you run the very real risk of
getting blindsided with a sharp move below 1300, and nowhere to run as it
goes lower … and with time ticking down into the afternoon, there isn’t gonna
be any heroes to step up and save your ass except some possible short covering
… in other words, “buy fuel” is in short supply. That doesn’t mean you can’t
get small rallies, it simply means risk outweighs reward when you’re around
the century marks, and you have to tread lightly … and in the P.M. of
New York, I don’t need JPM making an example out of me with some serious
selling.
One algorithm buy signal today … PAMM up a few bucks.
The buy signal came at an important inflection point this morning in price
… and when it didn’t go, I liquidated … just for the record, I did get a good
fill getting out, hitting the bid price 1 penny below the high for the M1 … that
was only possible cuz I sold on the way up, not on the turn.
Onto tomorrow, where gold has turned into a mystery … it being Friday, I’m
not expecting much, but it would be nice if Asia did something besides buy
every “Hoover Dam” night … in addition, I got some phone conversations
lined up with other offshore brokerage house execs, where I’ll be asking
about PAMM protocols and other things of interest to all of us … I have no
idea what’s happened to Turnkey over these last months to a year … IMHO,
they don’t seem to give a shit one way or the other about client issues … in
fact, they’re silent … well, that is not good any way you want to break it
down … bottom line is it’s their own “Hoover Dam” fault … until tomorrow
mi amigos … Onward & Upward!!
Have a great day everybody!
-vegas
P.S. I have a conference call with Turnkey management later this afternoon.
Let’s see how they handle the criticisms I’ve leveled at them … all I can
promise is that I will be fair and objective … we’ll see what transpires.
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