“All that matters in New York!”
Price discovery overnight ... who wants to bet New York is anything but a “protect
& defend” money laundering scheme that won’t see anything resembling “price
discovery”? … tulip bulbs go on a 250 index point ride up, then lose it all, then
start back higher … gold sees the “Chuckleheads” puke, then a $20 per OZ. rally
before backing off … nice ranges in both markets, as the world reacts and votes
with money, gold seeing a $29 per Oz. range, and tulip bulbs seeing 300+ index
points … so, who the hell needs New York, and the choppy bullshit set to rain
down on us today?
Increasingly, the only purpose I can see for anything financial that happens in
New York, is to pay somebody off or give them their cut … certainly there is no
“price discovery”, that concept & function given up for dead starting in
February 2016, and now 4 years later we’ve got the entire world engulfed in
“Japanification”, as the U.S, is headed towards full fledged NIRP … all that’s left
is for the FED to actually start buying individual stocks, something which they
will surely do once the next financial crisis hits.
What all this means for traders, is that you can’t look at “markets” like you
were taught … instead, you have to view them as manipulative propaganda tools
for government, and whichever market(s) you choose to trade, you have to be
acutely aware of the Apparatchiks that control them, what their M.O. [modus
operandi for you Obama voters just getting up] is, and how to predict their
behavior … cuz guess what? … there ain’t no such thing as “fun-durr-mentals”
anymore, and if you believe otherwise they will surely take all of your money.
In most markets, the difference between what happens away from the New York
session, and then what happens in the New York session, have nothing to do
with each other … nowhere is this more profound than in stock indices, and of
course gold … and so I ask the question cuz it deserves to be answered, but
won’t by the financial MSM … so I’ll answer it … “New York is the money
laundering capital of the world, and it’s where the New York FED makes the rules
and distributes payoffs around the world, and in the process allows the TBTF &
TBTJ scumbag banks to make “FREE MONEY” and act as the distributors of
funds, so as to layer and protect POLS & Apparatchiks and give them “plausible
deniability” … New York simply serves no other purpose.
Do you think gold will have an almost $30 range in New York today, swinging
up/down like it did last night? … how about the “Tulip Bulb 30”, think it will rally
250, break 250, and then come back to the middle today in the NYSE session?
… “yea, good luck with that scenario on both counts, cuz there’s about a 99%+
probability that ain’t even close to happening, and the other 1% was seen getting
on a bus to go out of town … if anything it goes “tapioca”” … in other words, no
real “price discovery”, only manipulation and chop, cuz it boils down to
scumbag banks versus traders … “I said the other day, how long will it be before
they simply relocate the NYSE to Beijing, Shenzen, or some other glitzy shitbox
in China”? … why not?
Cuz I got news for you … the U.S. is already well on its way to being an absolute
fiscal train wreck … next election that sees Libtard Loons and/or
Communists/Socialists seize power in both chambers of Congress PLUS the WH,
and the U.S. is O.V.E.R. as you know it … the financial industry in the U.S. is
already gutted & destroyed, and the future is not rosy … hell, might as well make
the money laundering and cash under the table legit, with the tacit approval of
government at every level, and I might add how business has been done in the
world since the dawn of time … it’s a “no brainer” … move the NYSE to China and
get it the fuck over with already!
Another scam open on the NYSE … so what else is new? … EXIT QUESTION:
“what’s the difference between roulette wheel in Las Vegas, and the open of
trading on the NYSE”? … the roulette wheel is much more honest.
Well now, that escalated quickly to the downside, didn’t it? … try as they might,
the “Plunge Protection Team” [PPT], which has been in about 5 times on my count
in 2 ½ hours here at NOON in Gotham, can’t keep “Humpty” together again
… quite frankly, today’s waterfall “Thelma & Louise” set up perfectly by the
numbskulls at the PPT buying the shit out of tulip bulbs overnight sending the
index up about 260 points near the high … since then outside of the open where
we got another ramp higher of pure bullshit, it’s been nothing but down, down, &
down some more … this isn’t gonna end until on the NYSE open, price moves
lower … then after that “washout”, stocks can stage an eye watering rebound
… until then, rallies early and overnight will be sold … and with positioning the
way it is thanks to the dopes at the FED and their QE horseshit over these many
months, we haven’t even seen the serious selling if it materializes, that will come
with ETN, ETF, & mutual fund redemptions at the open, cuz “Ma & Pa” out in Des
Moines aren’t gonna let this go much lower before they puke and puke hard
… “you wanna see some serious selling? … if that materializes, look the fuck out
below, cuz there won’t be any bids … liquidity? ,,, what fucking liquidity? … we’re
3 hours into today, and the M1’s are averaging 30 - 40 index point ranges … ON
THE FRICKIN’ M1’S!! … throw in “short gamma” selling along with it, and you got
a toxic brew that I have said repeatedly here it’s gonna be ugly if they keep this
shit up … and quite frankly, this is ugly now, but it can get a whole lot worse
believe me”.
Meanwhile, over in gold, we haven’t seen the “fat finger” of the BIS & FED “Rally
Protection Team” [RPT] in some time … has to be at least a year and half
… yesterday, somebody [round up the usual suspects] sold $3 billion of gold at
the market and didn’t give a shit about price … hammered gold about $8 per OZ.
… now, who do we know that can sell that kind of volume amount and not give a
rat’s ass about the fill? … Bueller? … Bueller? … cuz it wasn’t and never is about
price, it’s purpose is threefold; 1) kill gold longs and their sell stops, 2) send the
market a message that “HI, WE’RE BACK!!” , and 3) allow scumbag bullion dealer
banks to buy the retail spec sell stops and cover shorts established on the way
up for profit … interestingly, today sees gold down even though stocks get
“monkey hammered” … the market is too over positioned long and needs a rest,
or some “profit taking” [thank you Bob Pisani, CNBC] for a few days, maybe
longer … but as I’ve said before, buy rallies and sleep with the fishes!
Here in the afternoon of Gotham, we’re seeing wave after wave of selling, coming
in off small rally attempts, and then in less time than you can say, “WTF was
that?”, it’s down another 50 - 100 points … this is turning really ugly, but
remember it won’t be over until we get a lower open that’s ugly as well … from
there it can stage a nice rally … but it’s increasingly looking like a lot of stock
accounts are taking money off the table, and if that’s the case and the
coronavirus gets worse either in Europe or the U.S., than we could indeed be in
for some real pain in the stock indices … keep in mind, what you don’t lose, you
make!
What’s 2,000 DOW30 points among friends, right? … 4 days 2000 lower, and
guess how many are still stuck long either indices or stocks? … HINT: “plenty”!
… but no worries cuz Kudlow is on the loose over at CNBC, shouting from the
rooftops to buy stocks … fucking hilarious, listening to this goof … “Guess what
Larry, it’s not working OK”?
Only one decent algorithm buy signal in the DOW30 today … TURNKEY
PAMM / MAM UP 0.1% … The FX CHOICE PAMM / MAMA DIDN’T TRADE TODAY.
Quite frankly, seeing what’s going on, I pulled the plug on this stuff early, not
wanting to mess with a market where the M1’s the entire day have had an
AVERAGE RANGE OF 30 - 40+ INDEX POINTS! … good fills at Turnkey today, an
didn’t notice anything out of the ordinary in terms of trading conditions, except
of course the tulip bulbs are flying around mightily … over at FX CHOICE, I just
didn’t trust them today, noticing some real latency issues with quotes, and not
wanting to get really burned by these assclowns … no matter, cuz what we didn’t
lose we made, and on a day like today, there are plenty of people who would
trade places with us in a heartbeat.
As I’ve said before, in the back end of the “88/6/6” trading paradigm, the back “6”
can wipe out gains from months of trading within minutes, or destroy an account
entirely … the bad trading habits people get away with when the indices bail
them out from their market stupidity get ignored, and they end up thinking they
are market “gurus” … then the last 2 days show up … whoosh! … would you like
fries with that order? … I’m just hoping the idiots at the PPT don’t juice the shit
out of this stuff in the last hour, cuz if they do and then try and take it higher
again overnight, tomorrow will be a repeat of today.
… until tomorrow mi amigos … Onward & Upward!!
Have a great day everybody!
-vegas
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