HURRY UP & WAIT

“How LP banks make money!”

Oh boy, hurry up & wait … FED minutes at 2 PM EST, and outside off some stop

hunts by the usual suspects, which I’m assured by those in positions of power are

purely a figment of my imagination [cough, bullshit, cough], there isn’t Mr, Jack

Squat going on in anything … over on ZH, a very good technical article highlighting

the perils of being “short gamma”, which increasingly is moving the equity indices

around violently … but other than that, it’s wait for FED minutes and the Pie Holes

starting tomorrow at Jackson Hole.

Granted, it’s August … markets slow down as we limp to September and the U.S.

Labor Day Holiday weekend, the unofficial last weekend of Summer … we got

another FED meeting in September, where no doubt pressure will build into that

clusterfark for the faculty lounge Twits to do something … when they eventually

panic ala 2008, when everything is fine until it isn’t, gold’s upside is probably

limited … but when they panic next and go full retard easing with QE, it’ll be off to

the races once again … I doubt we see that in September, but who knows what

transpires until the next meeting?

How many “inside days” are we going to get here? … as gold moves forward day-

after-day with tighter and tighter ranges, somebody’s gonna get slaughtered here

in the days ahead … any move below 1490 is going to accelerate selling pressure,

and any move above the 1520 - 1530 area is going to embolden longs and further

buying interest … since gold is gold, and given its history and the fact the retail

spec community is long out their collective asses, I think the higher probability

here is for a short term move lower to clean some stops out … this would fit in

with the scenario at Jackson Hole of “Everything Is F-ing Awesome Baby!”

horseshit we’re likely to be fed by the Pie Holes when they walk to the cameras

… nobody likes to bring bad news. 

And with each passing day of halfway decent economic numbers, it makes the

assclowns at the Eccles Building job that much more difficult to convince us they

know what the hell they are doing if they cut rates … on the one hand they tell us

they look at data and are “data dependent”, while everybody knows that’s bullshit

… the only economic indicator they look at is the DOW30 and/or SP500. But since

rate cutting fever has gripped the markets, quarter point cuts ain’t gonna get the

job done in fueling markets higher … drip drip is gonna be met with selling.

Gold today in a very quiet mood, awaiting the FED minutes at 2 PM EST … not

sure what we’re gonna learn exactly that we don’t already know, but gold will

inversely follow stocks once the news is out in the open … and then it’s on to

tomorrow where the Glitterati are holed up in Wyoming of all places. Of course,

what can you expect on a quiet day? … well, bullshit spikes from hell that’s what

… and not to disappoint, at 18:58 server time we get the $4 downdraft in less than

a minute, letting you know who’s in charge of this market, and it ain’t specs

… criminals being criminals is all you have to know, which I’m sure you would

already know if you had a sell stop in gold and got filled at the bottom, only to see

it go straight up right afterward … and this type of behavior on quiet days is a

feature of gold, not a bug. Talking heads now pointing to a Trump tweet as the

culprit for the thievery … yea right, sure … and I got some beach front property in

Kansas to show you! Quite frankly, you have to be blind & stupid, not to see

what’s really going on in ‘’markets’’ these days … it’s simply a transfer money

laundering scheme from small accounts to bigger accounts, using the legitimacy

of the market as the smokescreen to achieve it. ‘’I don’t care what anybody else

says that $4 drop within seconds at 18:58 server time is nothing short of bank

criminality … robbery plain and simple’’.

Well, here we are at 2 PM EST, and that escalated quickly didn’t it? … just your

average $5 up/down to muzzle and steal money from the innocent, but other than

that, it’s what scumbag LP banks live for … why should anyone be surprised?

… ten minutes after the release of the minutes, gold hasn’t gone anywhere

… where’s the oomph? … and now after waiting all day for this anticlimactic event,

it’s on to J-Hole, where the bigger holes take over and try to fund the mistress

accounts before Summer is over.

Gold VIX today in the toilet, and outside of some mystery moves by the usual

suspects, a lackluster day where ranges are muted and interest almost non

existent … no algorithm buy signals today, simply cuz volatility to low given the

news flow and anticipation of the FED minutes … now what? … cuz if these Twits

aren’t lying via the minutes, this isn’t very bullish for gold … without more future

rate cut hopes and QE, gold for the time being has made its run … we’ll see what

happens.

Until tomorrow mi amigos … Onward & Upward!!

Have a great day everybody!

-vegas