🙶Trading Places🙷 Tuesday

“It’s supposed to be a fictional comedy, not a fucking how to manual!”

Where’s Mortimer & Randolph when you need them? … we start the homestretch

into the end of 2019 with ridiculous trading conditions hitting New York [where

else?], where it’s the usual bullshit of 🙶China trade deal🙷  news among other

things, and can you Apparatchiks just STFU?

Plenty of  🙶scumbaggery🙷 this day, starting before the ISM numbers out at 10 AM

EST … somebody knows somethin’, and while the DOW30 remains eerily quiet,

gold goes on a romp higher into the numbers … whoever they were, they had

better info than the Dukes, cuz after the dismal numbers indicating recession is

here folks, gold gapped higher and it’s off to the races.

Overnight saw Asia with about an $11 range, then Europe came in and it was

quiet city until the scumbags in New York showed up after sunrise, and let the

thieving games begin … 🙶hey Hurricane Dorian, could you save some energy

and hit the banks in New York?🙷 … I can dream can’t I?

Didn’t want to make trades before the ISM, which is the most current look at

manufacturing activity in the U.S. for August, and the numbers came in dismal

… markets gapped, and who in their right mind wants to step in front of a freight

train and get caught the wrong way? … after the numbers ... yea, I’ll take the algo

signals … well, too bad there was only ONE all the way into the PM … now with

Europe closed, the only option is to mess with Squid and the other crooks … no

thanks.

Stock indices, specifically the DOW30, saw blown out spreads right up to the

NYSE open at 9꞉30 AM EST … all night and into the NYSE, a complete 🙶circus

shitshow🙷 of greed and mystery ticks … some nights it’s good and other nights

it isn’t, and last night it wasn’t. Today not a very good day post ISM to be long

the DOW30 given the news, although the couple of buy signals the algorithm did

generate made a couple of bucks on scalps. After I saw the ISM, I turned my

attention to gold.

Two algorithm buy signals today … PAMM UP a few bucks shy of 0.1%.

I took the first and passed on the second … why? … as you’ll read and learn in the

gold course material when it’s available, I generally don’t want to take buy signals

when price is close to or exceeds the 20 Day Range MA … from Sunday’s number,

gold sits just below approximately $25 per OZ. … today’s range is OVER $28

… with the range today where it is, are the probabilities high or low for gold to

extend the $28 range in the New York afternoon? … my best judgement says it’s

in the single digits … some how some way, the banks will stall price or it drifts

lower some, but it’s only a single digit probability bet that it gets extended … so,

with little in the trade in terms of where it can go, why risk $3 - $5 when it most

likely won’t go $2 to a new high? … what sense does this make?

Just a weird day all around … price dislocations everywhere … and of course, we

get the constant, non stop jawboning and overall horseshit from the ChiComs and

Trump himself, who if he could ever just stop and let shit happen, markets could

most likely deal with the consequences … but he won’t, and if that’s not enough,

we got his Apparatchiks who can’t shut up either, right along with the dolts from

the faculty lounge [FED] offering their two worthless cents like they have any clue

WTF is going on … too bad there’s no bullshit futures … it’d be limit up for a

fucking month straight!!

On days where we get relatively important economic data or FED horseshit, it’s

getting tougher and tougher for markets to stay somewhat sane and orderly

… our 🙶liquidity providers🙷 are nothing but thieves, and you can count on them

for one thing and one thing only … they’re there to screw you at the first

opportunity possible, and they use the marketplace as their 🙶plausible

deniability🙷 to do it … today a sad excuse for a marketplace in anything.

So, onto tomorrow … until then mi amigos … Onward & Upward!!

Have a great day everybody!  

-vegas