“Most days, you can’t make this shit up and NOT be put away!”
OK everyone, Hong Kong of all fucking places, says markets are good again
… yup, DOW30 soars 300+ cuz the extradition bill is being formally withdrawn,
which is what got the riots started in the first place … never mind the fact that if
the ChiComs wanted you, their secret police would simply come get you, and
whisk you away to the mainland … but hey, we have to have our daily dose of
hopium fiction for stocks, so here it is … been saying it for decades, ‘THEY”
always find a way to rally stocks no matter how stupid and dumb the reason.
Meanwhile, over in gold land, I literally can’t even … seriously? … and folks, we
are fast approaching an “Apocalypse Now” moment in gold, where if the market
doesn’t back off some and settle the hell down, I’M FEARFUL of a FED event to
save the scumbag bullion banks … cuz if you think the government is gonna let
the bullion banks go down without a major CNTRL-P moment, where they will
print whatever it takes to sell futures contracts, then you don’t know
government! … and that’s what I’m dreading as we head into a FED meeting in
2 weeks, that I feel will be a disaster for financial markets.
Look, the morons over at the Eccles Building, in their entire 106 year history,
have NEVER … let me repeat this … NEVER … have gotten anything right … not
once, not F-ING EVER … and now they’re gonna save the world? … yea OK,
sure … you interested in some beachfront property I got for sale in Kansas?
And while lower interest rates are bullish for gold, 1) I don’t see gold going
ballistic like Palladium until we get to a negative 10 YR. Treasury yield, and
2) the entire universe of position holders on the long side of gold are specs
… the shorts are bullion dealers … who’s gonna win here? … so without some
kind of correction in price that isn’t just a $1.98 over 7 minutes, but something
more meaningful, we’re gonna wake up one morning and see “somebody”
[fat finger] sell upwards of 100,000 futures contracts of gold at the market, and
good luck after that if you’re long … it will make Feb. 2012 look like child’s play
on the downside … so yea, if gold continues to go full retard nuts on the upside
almost every day, I’m scared shitless cuz I know what’s gonna happen … I just
don’t know when … it redefines the term “reward / risk ratio” doesn’t it?
I don’t even know how you account for today’s action … the DOW30 comatose,
given recent action, and gold goes off and on correlating with every DOW30
TICK … in essence, we’ve seen the infamous “Flying Wedge of Death” [FWD] put
in an appearance today in gold, and that’s never a good thing … down $16, then
up $15, then down $5, and then tread water … we’re still a good $8 away from the
day’s 20 Day Range MA, and while algorithm signals in retrospect were decent in
the Asian session, they’ve been pitiful since Europe opened … gold inversely
correlated great with the DOW30, until gold hit its low around the New York open,
and then somebody sent out an email [which I didn’t get … must have been a
mistake, huh?], and that was the end of that as gold went on a straight up jaunt
back to the high for the day, but failed at 1549-ish … and we’ve been diddle
dinking around a $3 - $4 range ever since … ughh!
It’s the PM in New York, and since stocks opened, gold hasn’t seen more than a
$2 - $3 up/down move … pathetic … during the same time, the Dow30 has rallied
some and now has about a 100 point range for 3 ½ hours of trading, with the
attendant FWD showing here as well … hope it’s not like this for another 2 weeks
until the faculty lounge Twits meet … can we ever get government out of markets
and/or ban trading in New York cuz it’s nothing more than a manipulation
scheme? … this action is really pissing me off … can’t rally, can’t break, just
sitting there at the complete mercy of a bunch of scumbag bullion dealer banks,
widened spreads, and then at 20:10 server time gold explodes in a frenzy of
bullshit only a dealer could appreciate, leaving any and all algos in the dust, as
there is no way my nor anybody else’s algo can respond in nanoseconds to what
just happened … and away we go to the upside … all I can say is I don’t want to
be here when they club it like a baby seal at a Japanese whale hunt, on the
second when the FED says enough is enough … look out below when that
second comes, and it surely will.
So, another gigantic reversal day in gold, about the 20th time in the last couple of
months, where historically you wouldn’t see this in gold twice a year … well, isn’t
this special?
Two algorithm buy signals today, one very early and the other too late for my
blood … the first, I just flat out blew the call trying to get cute and price moved
away from me [yea, I know] … the second coming after Europe is closed and the
mini price explosion to a new high putting in the reversal … most major reversals
don’t go much after the new high/low is put in, they only suck stops out and then
fade … usually … of course, we are far away and in another galaxy when it comes
to “usually” and gold in the same sentence … in addition, if you think I trust to
trade with the scumbag New York banks in the PM, after the reversal with the
range put in right at the 20 Day average, you’ll be mistaken … I despise these
criminals.
So, no algorithm trades today in gold sad to say … earlier I was trying to get a
handle on the DOW30 … what a waste that was … really terrible stock indices
action today … So, onto tomorrow … until then mi amigos
… Onward & Upward!!
Have a great day everybody!
-vegas
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