“We control the horizontal … we control the vertical!”
It was close, real close .. and what I mean, is that the manipulators almost … yes
almost … lost control over gold late last week … it’s been a very long time since
gold put in a 5 day stretch we saw last Monday through Friday … but, as the Hunt
brothers can tell you if you had bothered to ask them when they were alive back
in the 80’s, “never underestimate the power of government to change the rules of
the game and kill you”! … and kill they do … this time over the conveniently
placed weekend for maximum impact, cuz we don’t need no stinkin’
Chuckleheads messin’ up the works with buying overnight that might upset the
applecart, and break gold through 1350 … good grief, no telling what would
happen to the price if that happened.
And as we all know, along comes Trump with a deal with Mexico, the “Plunge
Protection Team” [PPT] goes into high gear, the corporate buyback scammers
show up in droves, and shorts panic … meanwhile, the “Rally Protection Team”
[RPT] arrives in gold and snuffs out every single attempt at price recovering
since Sunday night … so, the elites can heave a sigh of relief … for now … but
I’m not sure the gold market is buying the bullshit governments around the world
are selling … we should be down more, but aren’t [yet], and the only questions on
the table now are, “how much will interest rates be cut and to what level
[negative?], how fast will it happen, and will it make any difference”? … answer
those questions, and I’ll tell you where gold is at.
Quite frankly, though, it’s all academic … for as ZH has shown, within 5 - 7 years
from now, given trillion dollar deficits as far as the eye can see, ALL THE MONEY
THE U.S. GOVERNMENT BORROWS WILL GO TOWARDS PAYING INTEREST ON
THE NATIONAL DEBT … there isn’t anything left after that! … so, while the elites
play the manipulation game and their hubris knows no bounds, the clock is
ticking towards the “debt bomb” that is gonna go off … and as last week showed
in its mini melt up dry run, when gold wants to romp it does, cuz there simply is
not enough of it to go around when it matters.
The “Black Swan” here from my perspective, is a bullion bank or two [the more
the merrier] go down in flames when governments can no longer keep the gold
price subdued, and utter panic sets in for deliverable, physical gold. It will make
last week’s rally look like a minor blimp on an M1 candlestick … the catalyst
might be a China devaluation via escalating trade tensions with the U.S., or it
could simply be a stock crash they can’t control … more likely in my view, it’s
MOAR QE the world over with crashing bond yields towards negative interest
rates … and when you have to pay the “Hoover Dam” bank to hold your money,
gold will become the viable alternative very quickly … where it stops nobody
knows.
Yup, gold back to normal today … and if you need evidence of the manipulation,
you’re not looking very hard … today sees again, the classic “dump & pump”
scheme from the scumbag bullion dealers, timed perfectly to get the
“Chuckleheads” to sell, and then right at the time New York comes in, turn it
around on a dime [after testing 1320] and rally it straight out of the lows, for now
the 4th hour in a row … “Chuckleheads sell, New York buys … Chuckleheads
buy, New York sells” … only now, in the manipulated environment we find
ourselves in, there’s no corrections worth anything to buy … you either buy it
going up and risk getting smacked, or you leave it alone … not a hard choice
given the risk/reward ratio here is risk $200 to make $30.
Cuz no matter what you do, your risk on any trade in gold is a minimum of $2
… stops don’t mean diddly in this market … they go through them with abandon
and fill buy stops at the high of the M1, OR fill sell stops at the low of the M1 … it
could definitely be more than $2, all I’m saying is that it’s at least $2 … for now,
gold appears to be supported until the FED meets again, and delights us with
their stupidity … markets are already pricing in 3 … count ‘em … THREE rate cuts
by the end of 2019, and it’s already June … do the math … unless SHTF
economically, not only here but Europe & China as well, I have a very hard time
seeing 3 rate cuts … in other words, the market is getting ahead of itself and is
prone to major disappointment.
It used to be markets “traded”, and every once in a while, you'd get a straight
shot move … in today’s central bank paradigm, it’s the exact opposite … you now
see almost only straight shots, with intermittent days with trading … no better
example of this than today’s gold & SP500 … where are the corrections?
… “sorry, no soup for you”!
Gold has become a bifurcated scam … meaning, there are days to trade it, and
there are days to leave it the hell alone … so far this week, yesterday & today are
on the scam part of the scorecard … not even an almost 30 index point reversal in
the SP500, can get gold to trade … nope, it’s straight down from the
“Chuckleheads”, and straight up from the scumbag bullion dealer banks
… again, if that doesn’t highlight the manipulation going on inside the “Comex
Con Game”, nothing ever will. And if it can’t correct inside an up move … and no,
a $1.50 isn’t a correction … then I’m not buying it, for the simple reason I know
how gold attempts to suck people in, and then lower the BOOM! After specs load
up … you simply have to buy the break or you’re toast … and when there’s no
break, you sit, no matter how frustrated you get doing it.
Here in the afternoon of New York, it’s simply a clown show … there isn’t anything
here … no volumes and less liquidity, with action solely focused on the SP500
… trading conditions here are simply awful.
With zero corrections today, no algo buy signals either … frustrating yes, but it’s
part of the game now … I can’t take another minute of this bullshit … onto
tomorrow mi amigos … Onward & Upward!!
Have a great day everybody!
-vegas
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