“Many times, in order to “save you” we have to kill you first!”
It’s that time of year, where we break out the Che, Mao, & Stalin t-shirts for
“May Day” … no doubt, at ‘Murica’s certified indoctrination babysitting
establishments [Hint: they used to be called colleges & universities], if they
were open every upper middle class SJW wannabe on campus would be
extolling the virtues of their Utopian communist ideals … it’s only when they
actually move out of Mom’s basement and get a job, and all that money they
thought they had earned gets taken away for their “ideals”, does reality set in
and suddenly “shit becomes real”.
And in what I have always seen as the height of idiotic irony, every May 1 of
every year sees Europe’s stock exchanges close for the day for celebration
… wait, wut? … quite frankly, to be pragmatic they’re just looking for another
excuse for a 3 day weekend, and what better way than to stroke communist
ideals while getting a trading day off to go do capitalist stuff … alas though,
that only works when there’s not a pandemic and people can actually enjoy the
day off … stuck in an apartment cuz the nanny state government knows better
than you do what’s good for you, should bring the “workers struggle” up
close & personal for millions … so, while you’re sitting there for the umpteenth
day in a row watching reruns on state run TV, make sure you wear that Che
t-shirt and remind yourself just how lucky you are to be part of the glorious
revolution that somehow forgot you!
Of course, FX is open cuz it has to be … glorious revolution celebrations
notwithstanding, FX is open for biz … the “D-” team fully in charge at scumbag
LP bank trading desks, as newly minted MBA wannabe traders man the desks
while their bosses are sleeping in and taking the day off on some yacht
somewhere … welcome to the real world, kid … now, don’t fuck up and don’t call
me unless the building is burning down.
Like most Holidays, whether legit or laughable like this one, trading becomes
sparse & choppy cuz half the world is working and the other half is not … so,
volumes slack off and it doesn’t take much for the working half to throw the towel
in and head for the exits as time moves towards the latter half of the day … so not
expecting much from this trading day.
Meanwhile, over in “Stock Bellies” as the NYSE opens, simply the usual multi
hundred index point robbery schemes within seconds in the DOW30, that do
nothing but enrich scumbag LP banks, as orders are front runned and butchered
like hogs, and specs of all shapes & sizes discover the “traders tax” before their
very eyes … nothing accidental or coincidental about it, it’s the way the “system”
is set up and encouraged by the faculty lounge Twits at the FED … cuz as we all
know and understand, no Wall Street bank trader should have to actually suffer
the indignity of risk taking … why? … sit back & let the computer systems steal
it for you, then go play golf out in the Hamptons!
Don’t misunderstand, FX is no group of “Boy Scouts”, certainly not “The Widow
Maker”, a/k/a GBPUSD, where almost daily for over 4 years how many POLS &
Apparatchiks used rumor & accomplices in the press via “Brexit”, as the funding
vehicle for their mistress funds? … to be sure, USDJPY is the worst of the majors
cuz it’s so manipulated via “Peter Pan” Kuroda & his crew at the BOJ … but alas,
with BOJO not dead from coronavirus [a/k/a CHICOM KUNG FU WUHAN FLU],
and Brexit basically over, except for some dickering details on actual exit, there
isn’t anything left to manipulate cuz that horse is dead … bottom line? … Cable is
the least manipulated, and has the consistently highest IVIX of any of the major
FX dollar pairs.
A strange day in Cable today … kind of a negative bias “Flying Wedge of Death”
[FWD] since the European open, and while EURUSD & YEN are rallying, Cable
gets beat up and EURGBP has a larger than usual range for the day as a result
… remember, many times in FX moves, the major dollar pairs can be heavily
influenced by some of the crosses, notably EURGBP & GBPJPY … now that
we’re in the P.M. of a Friday in New York, I caution those expecting anything
other than stop hunting and/or running institutional orders by the scumbag LP
banks … trading can and will get quite treacherous, and unless you have to I
suggest to skip P.M. New York trading.
A couple of algo buy signals in GBPUSD today … TURNKEY PAMM / MAM UP
SLIGHTLY [yesterday plus today slightly OVER 0.1%].
The algorithm signals in Cable came around the early lows as New York came
onto the scene this morning … good signals, they just didn’t move much in the
time frame I desire … remember, algo signals are designed for price movement
NOW, not 7, 10, or something higher in an M1 time frame, and if it ain’t movin’ in
my profit direction, it gets liquidated cuz the longer it takes to move the less
“buy fuel” is actually there that you thought was there, and that leads to a higher
probability of trouble.
Blog update on Sunday … until then mi amigos … Onward & Upward!!
Have a great weekend everybody!
-vegas
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