“Markets in disarray as never before, thank you FED!”
The official word now, is that it was simply a miscommunication that caused all
the confusion surrounding late Thursday into early Friday theatrics in financial
markets … gold wasn’t the only thing that got kicked around like a soccer ball.
And if you believe that, let me again show you that beachfront property I got
available in Kansas.
Quite frankly, the “scumbaggery” surrounding gold is reaching all time highs
… moves aren’t coming from normal market hours, but in the dark … the hand of
the FED can clearly be seen on most days, and coordinated bank selling as some
Apparatchik is announcing something that affects gold negatively happens with
such frequency, most times it isn’t even reported.
Later today, when gold opens for Monday settlement, we enter our 10th week of
higher prices … you have to go back to the week of March 11, 2006 to find a
similar streak of 9 … there isn’t 10 or anything else higher in the last 20 years,
and that takes us back to when gold was around $300 … that doesn’t mean it
can’t extend from here, but simply that it’s awfully stretched at the moment,
looking for a reason to wallop long retail specs … “trust me, they’ll find a reason
even if they have to make one up … the banks are heavily short, and from the
looks of the daily candlestick, Friday begs not only a reversal high, but a bearish
engulfing candle to boot … simply put, there’s some ugly downside action
awaiting us in the very short term.
Directly below, our 20 Day Range MA’s.
click on any chart to enlarge
Gold keeps getting the difference between the rest of the world and New York
stretched higher … I don’t see this as bullish for gold … I see this as “dark hour”
scumbaggery manipulation … we deal and trade with criminals … that’s who and
what they are … from recent court cases, along with the admitted fraudulent
activity of a JPM gold trader, who was actively manipulating gold futures for JPM
for years, at least I know what I’m dealing with … trying to stay one step ahead of
these crooks in their manipulations is difficult … as I’ve said before, never go
FOMO [fear of Missing Out] with any market you trade, and that is especially
relevant in gold, as the vast majority of gains seen in the last 9 weeks has not
come from the New York trading session, and the explosive action has come in
the dark hours pre Asia … “nothing to see here Sheeple … move along … Ma’am,
it’s just a bunch of people getting killed is all”.
Onto the week … between now and the end of July, which is capped with said
FED meeting, it should be a helluva roller coaster ride for price. Until tomorrow
mi amigos … Onward & Upward!!
Have a great rest of your weekend everybody!
-vegas
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