TRADING IN FANTASY LAND

“Inside a secret meeting of the “Plunge Protection Team”!”

Only two things move markets anymore; 1) POLS & Apparatchiks moving

their lying lips, and 2) those large positions caught “short gamma” in a

market and then they panic … nothing else matters, literally nothing, and

paying any attention to it will bring heartache. And quite frankly, this is just

what they want to see at manipulator HQ each and every day.

It will be interesting to see today, if the NDX100 starts going tapioca city, how

many times one of Trump’s flunkies gets rolled out in front of the microphones,

or quickly invited to CNBC for an economic pep talk sham interview to

stabilize, or even lift stock prices. “Just think WWII, the bombers are

overhead, the city is being destroyed, and you’re being told there’s victory at

every turn … what’s the difference really”?

Meanwhile, if it wasn’t so “Hoover Dam” funny it would be pathetic, gold is

over in its corner pretending to exist and be relevant … the only way to

describe this market is the following … “a little song, a little dance, a little

seltzer down your pants” … thank you, your scumbag bullion dealer friends.

The folks heavily buying gold today, IMHO, simply the next iteration of the

chumps who buy the rock as it’s getting rolled up the hill, so that it can

“Thelma & Louise” again later … question is, how many days/weeks will it be

before the sell stops get hit off on the downside cuz of no upside momentum

being carried forward?

The action today in the stock indices, particularly the NDX100, is surprising

me … I thought today could have had a “washout capitulation” event early

on … huge 3 strikes against tech today: 1) broken down China trade deal,

2) a major technical breakdown through the HR4 200 period MA on the

downside, and 3) the Supreme Court ruling against one of the FAANG

darlings, Apple. However, what we’ve seen today, is what I would call the

“3 steps down, 2 steps up” market that is a B. I. Itch to trade … neither longs

or shorts feel very comfortable trading, and the spikes from hell all over the

M1 charts. As we move into the afternoon trading, I get the distinct feeling

there are traders and investors looking for somebody to say something and

ignite a rally … I think the market is on the verge of a “suicide watch”, and

any moves after 2 PM EST that start hitting a new low for the day could get

very, very ugly … which by the way is what we need to see before any decent

bounce can commence. Quite frankly, these markets should be a lot lower

given the news.

There isn’t anything here today [NDX100] that makes me want to buy

anything … it’s a train wreck lower, with spikes down that come quickly, and

then stabilize for awhile before the next rinse & repeat drill … and again

today, what do we see at the NYSE open? … more buying not appreciated if

you want the market to go higher later … as I’ve said, we need to see a lower

NYSE open that attempts to go lower, and then fails … that sets the stage for

a very nice short squeeze … so far the last 7 market days, not one of them has

had this including today.

The backdrop of negative news today outweighs anything Trump could tweet

… that’s probably why nobody has been on the wires with the BS brigade

… that doesn’t mean it’s a “slam dunk” to be short though … the moves up

are just as dangerous, although they come quicker. It’s simply not a day to

buy … period.

Onto tomorrow … until then mi amigos … Onward & Upward!!

Have a great day everybody!

-vegas