“Currency debasement & gold manipulation its function for 106 years!”
The horse is out of the barn now … gold has been caged up for upwards of 7+
years by the “Rally Protection Team” at the FED & BIS, and the question for me
as a professional trader is simple: “can this market ever settle the hell down
anymore and be traded, or is the action of late gonna be the norm going
forward”? … there’s a strong case to be made that life in gold is a lot like Dorothy
in the “Wizard of Oz” … “hey babe, you ain’t in Kansas anymore”.
POLS & Apparatchiks run everything now … this paradigm is firmly set in stone
… $20 - $30+ ranges, often times going back & forth at will on vapors, can be
expected to continue, with the global monetary easing cycle lending full support
as the negative interest rate freight train picks up speed, and the fiscal condition
of the U.S. headed off a cliff ready to go full retard “Thelma & Louise” sometime
in 2024, also lending support in the background … right now the FED, through
their various faculty lounge Twit Pie Holes, are doing everything they can to
“jawbone” stocks higher and gold lower, with their “Everything is F-ing Awesome
Baby!” bullshit about anything related to the economy or world finance in general
… but, it’s just talk, and their hope is the HFT algos can pick up on key words and
“goose” stocks higher and gold lower … Friday a perfect example, as Spicoli is in
Switzerland at some mutual admiration society giving an “awe shucks” speech
and taking softball questions from hacks, so he can tee up the ball and deliver
what he wants the MSM to print and talk about.
What pisses me off to no end as a trader, is how gold reaches bottoms now and
the totally chaotic conditions that are in place by design by the scumbag bullion
dealer banks … again, Friday a perfect example … at EVERY bottom, it’s widened
spreads, bid/offer quotes that are $1+ from tick-to-tick, and slippage that can only
be described as horrendous and I’m being kind … it’s a clusterfark of epic
proportions … and that’s the good news!
Often lately, it’s simply a “mystery tick” low ball print and within milliseconds it’s
back off the bottom by $2+ … even if I’m right there on the red spike down and
click “buy”, I’m gonna get filled on the way back up, cuz the fucking bank isn’t
going to give me an honest price … they’ve just bought the spec sell stops, and
they are goosing the shit out of bids higher so they can off load the buys from
literally seconds ago … the offers go wide and fast, and I’m supposed to buy this
shit in that environment? … no mi amigos, cuz it’s a trap … cuz once they fill me
and others, they’ll start the process of bleeding it lower again … you don’t buy
rallies in gold and expect to make money, cuz all that’s being done to you is the
“Comex Con Game”.
On both Thursday and Friday, I had buy signals that got blown through price
faster than the market could have ever expected to fill me fairly at … I hit the buy
button, and it’s a guessing game where I get filled $1 - $3 higher … now what?
So the question is, is this the norm now? … can I expect shit like this going
forward pretty much every day? … and when FED bullshit no longer works, what
does gold do then? … what happens when $50 - $75 ranges start showing up?
… $100+ ranges? … is there even gonna be a market in those kind of conditions?
… I don’t think any of this is “rhetorical” stuff … the silver market got ruined
years ago as a trading market in conditions just like this … decades past, silver
was one of the most heavily traded futures markets around … now, it’s a ghost of
its former self cuz most specs won’t trade it and know it’s more manipulated than
ever before by JPM, HSBC, and others … is this the fate of gold going forward?
Directly below, our 20 Day Range MA’s for selected markets … even Cable is
starting to show some life … it’s not there yet, but it’s getting better.
click on any chart to enlarge
Friday’s action in stocks a real stunner given it was an NFP Friday … gold &
silver still seeing VIX headed higher, even with a day or two sprinkled in where
not much goes on, and then SHTF and it just explodes in microseconds.
Not a good close for gold on Friday, and it looks like some testing of 1500 is going
to happen earlier rather than later this upcoming week … we’ll see starting tonight
… until tomorrow mi amigos … Onward & Upward!!
Have a great rest of your weekend everybody!
-vegas
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