“I get one day off, and now this bullshit? … seriously!?”
Like anybody needs an NFP report the day after a Holiday … well, my guess is, the
animal spirits in the market are going to be disappointed, but we’ll see … I’ve never
placed any faith … ever … in the math whiz kids over at the Department of
Unicorns & Fairy Tales to give an accurate assessment of employment, simply cuz
it’s all political for the incumbent … doesn’t matter who the Preezy is, it’s all filtered
bullshit.
But that’s not gonna stop the banks and the HFT algos from going nuts, cuz
they’re most certainly going to run with the data … if it comes in around
expectations, within an hour the entire market will be dormant to the close, as
nobody is going to hang around with the weekend in the balance.
Once again last night, in the dark recesses of Australia & New Zealand, which is
that approximate 4 hour period from 5 PM EST - 9 PM EST, somebody comes in
and muscles gold higher … within 40 minutes of the open, we’ve already got an
approximate $10 range in gold … from there, it’s been pretty much a slow slide
lower back to the low … a nice round tripper reversal on a day that should be
dead until payrolls … I feel like I’m living in an episode of “The Twilight Zone”.
“Well, that escalated quickly to the downside, didn’t it”? … ANDDDDDD, IT’S
GONE”! … womp, womp, WOMP! … a little recovery cuz it’s position squaring for
the upcoming weekend, cuz who knows what hits us come Sunday night? … I
want part of this sigma day miss, like I want to go to the dentist … A Friday stuck
between a Holiday & the weekend with an NFP report … seriously, I don’t like NFP
days to begin with, but this is simply stupid … so, we pick it up in earnest come
Monday … blog update on Sunday … until then mi amigos … Onward & Upward!!
Have a great rest of your 4th of July Holiday weekend everybody!
-vegas
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