“The day after in gold!”
Options expiration today in gold at the Comex, and what the financial MSM
is gonna try and shove down people’s throats, is the bullshit notion that it was
the “short gamma” crowd that caused the selloff in gold yesterday … “right,
sure, and so are we to expect this every options expiration in gold? If not, why
not, and that’s where the BS logic of this argument falls flat on its face … but,
knowing most will only look “skin deep” into the mess, and it’s such arcane
option world stuff to begin with, the manipulators know the public will buy the
excuses cuz they don’t understand it to begin with, and don’t really want to think
about it … in other words, the manipulators count on the fact people are stupid,
and without their wisdom to explain things, are lost sheep in a pasture … can
you say Baaaaaaaa yet”?
The day after, and if you think it was bad in gold, Palladium got whacked
about $111, for an approximate 8% loss … never mind the fact the world’s
financial condition deteriorates daily into an abyss it can’t ever truly recover
from … only government believes piling into more debt solves a debt crisis,
and surely this time it will work … won’t it? Even the “Chuckleheads” in Asia
last night were in no mood to buy, apparently feeling the board slapped up
against their faces, and needing some checks to clear before returning to their
cultural ways, and besides it’s the weekend coming up and the cash they got
left is gonna be needed at the local casino.
price a tad lower, so that only means New York will try and attempt some kind
of rally to burn them … and while some may tiptoe into the market for some
“bargain hunting”, most should realize that sometimes “bargains” aren’t really
“bargains” after all, and that after yesterday the sale has a high probability of
running for a while making said yellow pet rock an even better “bargain” later
… we’ll see, but as I said yesterday, a move under 1280 is gonna damage
trader brains and sour investment demand for an entire new generation of
“gold bugs” for a very long time. And while the pain of yesterday can’t be
minimized, the pain coming under 1280 - 1276 will be far worse if it gets there
… all for the benefit of the TBTF & TBTJ banks, which I know makes
everybody feel warm & fuzzy all over.
Gold seeing some light buying interest early in New York so far … I’m not
quite sure I know what they’re thinking by bidding it higher for an $11 range,
but good luck later in the day as we move towards the weekend … markets
generally waiting around for the umpteenth important “Brexit” vote @ 10:30
AM EST, and when it’s over to see if the world has ended or not … what a
frickin’ mess, thank you central banks.
aggressive manner, back down to around the 50% level of the day’s range
… why chumps bid it up close to 1300 is a mystery to me, but I’m thinking
maybe some “MoMo” players got themselves a little to short headed into the
weekend and the scumbag bullion dealers made them pay.
I was actually hoping we could see some kind of move in early New York
down below 1290 to buy on a reversal … it never happened … instead, we see
gold go straight out of the box and go up $8 … and there’s no way after
yesterday’s debacle I’m buying gold early on a rally, even if it backs off a
little … when that buy fuel evaporates, the usual suspects swoop in and start
selling in earnest … and the way it looks now, here in late morning about half
hour from NOON, the sellers have taken back control of gold, and the rally is
kaput. And no, I don’t want to be bumping heads with JPM & Squid on a
Friday afternoon when longs from this morning are stuck.
I followed Cable closely today, but trading off of every rumor emanating
from headlines out of Britain is downright stupid, not to mention dangerous
… the spikes from hell evident all over the place today, as the scumbag LP’s
first create the rumor, then fill you when you’re convinced “here we go”!
… though, we ain’t going and now they got you right where they want you
… add to this total clusterfark, days like today give the LP’s the opportunity
to widen the bid/offer spread, which they did at every opportunity on every
rumor and spike … throw in a good dose of “slippage candy” which is set on
quadruple MAX, and if you play in this shit when it’s all over the place you’re
not gonna like your fill, especially getting out. Cable today, is a party best left
alone until next week.
Onto next week … blog update Sunday night … with all the news out,
markets appear exhausted, and so I’m outta here early today … nothing is
gonna move anywhere the rest of the day of any significance, so what’s the
point? … until Sunday mi amigos … Onward & Upward!!
-vegas
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