“Yes, explain to me again how you buy high and sell low!”
Some things never change … Mrs. Wantanabe & Gal Pals overnight ramp gold
higher, not only screwing today’s action, but putting in a $12+ range before the
sun comes up in New York … “thanks “Chuckleheads”, you're doing yeoman’s
work helping the scumbag bullion dealer banks make more money at your own
expense … the empirical evidence is overwhelming, yet they continue to do
things that lose them money … why don’t you just wait for New York to do your
buying”?
And so, here we are … again … with a $10+ range higher, and everybody here
knows what that means for today’s New York action … and in case you’re a new
reader, it means there’s a 90%+ probability New York has 1) shit trading action,
and 2) more than likely most of the trading action will be on the downside, with
little probability of fresh buying to take gold higher. Thank Mrs. Wantanabe & Gal
Pals.
I swear, some days I really would be happier shoveling elephant shit at the circus
for half of minimum wage, rather than spend the 9 hours that is ahead of me
watching the upcoming shitshow circus known as gold … very small chance of
seeing anything higher, but it is a probability, not a guarantee … and that’s all we
got going for us today … “where do they come up with all the money they lose
consistently over the years”? The only other viable answer, is a combination of
the Indians, Ruskies, & ChiComs who buy gold on futures exchanges for delivery,
and refuse to use the U.S. for obvious reasons … the scumbag banks make coin
on arbitrage, so they don’t mind, and they end up taking delivery of physical metal
in their own backyard.
So, here we are at NOON EST, and what has gold accomplished after 5 hours?
… right, NADA, a couple of bucks on either side … another visit from Mr. Jack
Squat … and not only is there very little trade here, the M1’s are smaller in scope
than overnight, and the New York range so far, downright pathetic … in sum, just
the way the scumbag bullion dealer banks in New York like it … cuz with nothing
happening, they can slippage you to death on fills, run your stops, and play with
your head on buy/sell decisions … if you’re the bank, it’s like Christmas day as a
kid all over again.
When you get right down to it, I’d describe this kind of trading action as “slow
crawls and then a brick to the face” … another manifestation of a manipulative
market, most often seen in the U.S. stock indices, but not so much in foreign
indices … nevertheless, it’s a planned attack on your trading capital.
So we find ourselves up here in the mid to upper 1330’s, and I’d be shocked if
anything happens to the upside until next week’s FED meeting … I don’t think
there is any way in hell gold breaks 1350 until then, at a minimum, cuz rest
assured if it does, the banks have been tipped off by the “wink wink, nod nod”
crowd inside the FED … they are not gonna hang their BFF’s out to dry. Come
meeting time, anything can happen of course, but as I said yesterday, the market
is pricing in way too much easing before the end of 2019 … only if you think
every economic indicator on earth is in collapse, AND China panics and either
gives in to a trade deal or devalues their currency, can there possibly be this
agressive of an easing from the FED … sorry, don’t see it, just like I didn’t believe
their idiotic “dot plot” last year that said 4 or 5 more rate hikes. Cuz I think the
FED is going to severely disappoint gold come next Wednesday, with a single
digit chance they ease, and almost a zero percent chance they ease by 50 basis
points, which is what it would take to get gold to blast through 1350 on a melt up.
But trust me amigos … if that is the plan, they’ll let their BFF’s in on the script
and their shorts will be covered and they’ll be long for the rocket ride higher, and
that means going into the meeting on Wednesday, both Monday and Tuesday
trading action could potentially be very interesting. Until then, though, almost no
chance this stuff goes higher into the 1240’s with any conviction. And as I write
today’s blog, they just took out to the downside in 20 minutes, what the “slow
crawl” up took about 2 hours to accomplish … chalk up another victory for the
banks over the specs … and for you newer readers, who might think that it’s just
a sideshow when the “Chuckleheads” get opinionated and drive gold up/down
more than $10+, just remember the probability of New York extending Asia’s
move is less than 10% … “sure, mess with Superman and see what happens”!
And suddenly, we find ourselves with a whole lot of churning trade action, and
nothing to show for it … it’s almost 1 PM EST, and we’re within a dollar of where
we were at 7 AM EST … who do you think has “WON … YIPEE”! In this mess? It
sure as hell ain’t the specs. Quite frankly, it’s why I’m on the sidelines right now,
cuz if you trade this bat guano today, you’re risking $200 to make 20 bucks
… and that’s if you’re lucky or know what you’re doing.
Not that anything else they call a “market” is doing anything … from a historical
perspective, what the central bank manipulators have done to FX, is a flat out
crime … major pairs of FX are trading at fractions of their historical ranges … the
foreign stock indices, except for one, are ripoffs from the word go, and slippage
is a very big problem when trading, especially in Europe … oil CFD’s can’t be
traded cuz they are complete ripoffs, leaving only futures … that leaves gold and
potentially one foreign stock index, and both of these are no dream ticket to
riches, as they each got their pros & cons. We know about gold, what’s the other?
The other is the Hang Seng stock index out of Hong Kong … pooh pooh it if you
want, but the “Hoover Dam” thing moves and usually moves smoothly … unlike
the DOW30 CFD which is a nightmare in terms of slippage … of course it is, it’s a
U.S. stock index that is manipulated up/down 24/5, and at the turns you’ll
experience slippage that would make Vito Corleone break into tears … if he only
knew! Who needs hookers, booze, & drugs when you got stocks & stock indices!!
I’ll have more on the Hang Seng this weekend and next week, with the only real
“con” is that it’s at night … trading starts at 9:15 P.M. EST and goes to Midnight
EST, and then it breaks for lunch for an hour, and then at 1 AM EST, the afternoon
session starts and goes ‘till 4:30 AM EST … the night session starts at 5:15 AM
EST and goes to the end of the trading day at 1 PM EST … for those keeping
score, Hong Kong is 12 hours ahead of New York. Other than that, as a trading
vehicle, it’s got everything you could want and more … sure as hell better trading
than any U.S. index, and the LP’s are non U.S., which means no scumbags like
JPM, Squid, Citibank, etc. … in act Far Eastern LP’s are usually fairly reliable in
being fair with fills and slippage … in other words, not much from my experience.
Here we are at the end of our gold trading day, with gold doing NADA, ZILCH, &
ZERO to show for the U.S. session, except of course to separate specs from
account money they used to have … why do you think they let you open account?
… it ain’t cuz they’re nice people, it’s cuz they view your money as their money,
you’re just holding it for them ‘till they take it. All-in-all, another shit day in gold,
ruined by the nitwit “Chuckleheads” in Asia & early Europe, who got ants in their
pants and bid the yellow stuff higher … after that, the predictable sets in, and
“what is it I’m supposed to do with a market that simply chops, lurches, and
goes nowhere”? … thanks, I’ll sit rather than get “paper cuts” from trading a
manipulative “shitshow circus”.
Dear Chuckleheads: “can you just keep it in your pants and not get excited?
… Seriously, you’re starting to really piss me off with your antics that only feed
the “Hoover Dam” banks, and leaving the rest of the world shaking their heads in
collective awe at your utter stupidity … give it a rest”!
So, today over, thank God … 1 more minute of this crap and I’m suicidal … this is
just awful … until tomorrow mi amigos … Onward & Upward!!
Have a great day everybody!
-vegas
No comments:
Post a Comment