“A sign seen at “Plunge Protection Team” HQ!”
Well, kiss the kids goodnight for me will ya honey? … looks like some
manipulator folks have got their work cut out for themselves … waking up
this morning, I see markets are deep in the red … at 6 AM EST, the SP500
has already equaled the day’s 20 Day Range MA … looks like the “Plunge
Protection Team” [PPT] is gonna be busy today … make sure the ink is well
stocked for the CNTRL-P printer, cuz it looks from here like its gonna be
tested today.
That 2831 level got taken out like a chainsaw through a soft butter stick
… now here at 6:15 AM EST, a full 3 hours plus until the NYSE open, it looks
like the PPT has shown up for some light pre-market duty … their goal?
… get the SP500 back over 2832 and keep it there … cuz once we open, the
corporate buyback clowns show up, and along with the PPT, they’re gonna
make life difficult for anybody short. Not sayin’ we have to go higher, simply
pointing out a known FACT.
And just like that, working so hard to save the Republic cuz doing God’s
work here on earth is tough, the PPT has managed to rally the SP500 straight
off the bottom up 10 index points to 2834 … did ya think I was kidding?
… and so the stage is set for some heavy lifting today, as the “short gamma”
sellers square off with the PPT in the WWE main event, starting at
9:30 AM EST … what a complete “shitshow circus” this is, completely devoid
of reality. Meanwhile, over in fantasy land, I mean gold … not even a $5 range
[so far, but it’s early yet, so we’ll see], as it can’t move to save its sorry ass life
… and why should it move, there isn’t anybody who’s interested in it as a
trading vehicle cuz they’re tired of getting “jacked” every day by the scumbag
bullion dealer banks … gold won’t matter ‘till it does!
If I took a poll, I’d say about 99%+ of respondents wouldn’t get the correct
answer … and the question would be, “under what market circumstances does
the SP500 have the biggest and fastest rallies”? … the answer of course, and
history bears this FACT out, is during bear market routs … you take a look
at the historical facts, and of the 10 biggest one day gains in SP500 history, and
they all come during bear markets, or mini bear market routs of panic … and
this is just one of the many reasons why being consistently short the market is
not a good idea … “what you get away with, they take back with a vengeance
in speed and viciousness, and the losses mount much faster than any series of
gains” … this is life inside an “80/10/10” market paradigm, and outside of the
first 5 years of its history as a trading vehicle, since the ‘87 crash 32 years ago,
the PPT has been around inflicting damage a lot longer than most realize.
Nowhere does global growth have a better barometer than crude oil [Brent /
WTI] … and while I cover crude over in the other blog
noticed the reality of a global slowdown via the total collapse of the fairy tale
China trade deal, and SHTF in WTI & Brent yesterday & today so far
… Psst! … there never was gonna be a deal … it’s all hopium, for the simple
reason ask yourself why the ChiComs would deal with Trump, when they can
wait for a possible rollover Libtard Dem in 2021 and biz goes back to normal
… i.e., the continued raping of American wealth and transfer to China
… Libtards don’t have a problem with that, just ask Hunter Biden … so, they
talk, and talk some more, and smile for the cameras to keep their respective
stock markets afloat, but it’s all a sham … hey, communists don’t give, they
only take!
And as I’ve said before, the back part of the “80/10/10” paradigm might look
like a walk in the park, cuz after all it’s only 10% of the action … but it’s the
back “10” that can take away quickly the other “90” in short order … when
traders panic, they panic … bids melt like ice cubes in a microwave, and the
drops catastrophic … and it’s worth remembering, we wouldn’t be in this
shithole mess if it wasn’t for the faculty lounge Twits at the FED, who insist
on meddling in markets … you know, cuz they’re the smartest people in the
room … just ask them, they’ll tell you … fact is, their hubris makes them
dumber than a bag of rocks.
OMG!!! … the lawless & other miscreants let loose on the NYSE open, and we
finally see a cash open in the SP500 that goes lower … apparently, there are
still some traders who haven’t read the new law yet about cash opens have to
go higher … I hope they don’t get thrown into a Libtard FEMA camp for
indoctrination training.
And with crude oil going full retard “Thelma & Louise”, after figuring on the
back of a napkin that world economic growth sucks and might even be going
lower faster than Tory poll numbers in Britain, and therefore world demand
for oil ain’t so hot, you have to wonder when the message finally gets to stock
traders and we see some kind of capitulation lower? … cuz what we see today
so far ain’t it … all we’ve seen today so far is one “dead cat bounce” and
that’s it, and here at Noon EST, it’s just a slow grind lower … and that doesn’t
in any way mean a bottom is in … far from it.
While oil gets a stake through its heart and its head cut off, stocks grind
… now below 2810 in the SP500, every new marginal low sees buying from
the usual suspects that gets faded … that the manipulators are protecting this
2800 level, there is no doubt in my mind, yet it’s being met with more selling
as crude goes lower still, now putting in a range of over $4 per barrel to the
downside … from yesterday’s crude oil inventories report, crude is now down
over $5 per barrel … and stocks act like they could care less … sorry, this is
as big a “disconnect” from reality I’ve seen in a while, and the delusion that
the so called “FED put” will save traders, will eventually create one helluva
drop to the downside.
Ok, it’s 2 PM EST, and this day has been a complete disaster from a trading
standpoint … impossible to stay short, and it grinds you down if you stay long
… just a miserable day … again! … we find ourselves down near the 2800
level going into tomorrow’s trade, unless of course the PPT jumps the shark
and goes full retard in the last 90 minutes of trading and sends us higher. As
I’ve said, we need some kind of “washout” to end this down move, and we
aren’t getting even close to one … that makes being long particularly
dangerous cuz when it swoons lower it doesn’t wait for you … again, risk
$100 to make $10, which is bullshit … so, we sit and wait for algorithm buy
signals, which by the way we had none today … ZERO … until tomorrow mi
amigos … Onward & Upward!!
Have a great day everybody!
-vegas
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