“Press daily!”
All you can do is laugh, cuz anything else will literally drive you insane … as I
have repeatedly said before, there are no such things as “markets” anymore,
simply manipulation Ponzi schemes by government for purported “policy”
reasons [real or imagined] … all the propaganda bullshit in the world couldn’t
save the “Stock Bellies” yesterday, with the DOW30 falling about 2,000 points
… but no worries, cuz overnight the “Plunge Protection Team” [PPT] & the Swiss
National Bank [SNB] showed up at Babu’s “Don’t Worry Be Happy” 7-11
somewhere in Tahiti and bought all the FAANG stocks right off the shelves!
… Bingo!, Bango!, Boom!, and this morning “Everything Is F-ing Awesome,
Baby!” once again, as the DOW30 is up some 700 points … must be
“fun-durr-mentals” right? … and never mind all that selling in FX that sent the
dollar skyrocketing, and for the first time in a long time a “double reversal”
with range in EURUSD, cuz that train got derailed and “MOMO” got changed in
a heartbeat with stocks now skyrocketing up … “it’s a “Hoover Dam” good
thing that panic button is right near my trading screen, so I don’t have to get up
and go find it every 5 minutes throughout the day”!
And who do we have to thank for all of this “shit”? … that’s easy enough, the
morons in the faculty lounge that haven’t gotten a fucking thing right since they
were founded in 1913 … of course, if you’re a global elitist, and a card carrying
member of the 0.0001%, they’re frickin’ perfect! … and what you realize rather
quickly these days, is that like farts in the wind, markets change “MOMO” rather
quickly and then disappear at the drop of a hat, only to await the next
“panic attack” coming in 3 … 2 … 1 … “it should be obvious to anyone with at
least one functioning brain cell, that trillions will be printed & spent to protect
3000 in the SP500 … come hell or high water, the country will be financially
sacrificed via QE to protect stock portfolios of the rich, while the rest of the
Sheeple get hyper inflation down the road and the end of their standard of living
as they know it.
Chalk today up in the record books for one of the biggest financial scams ever
perpetrated on markets in the history of the world … of course, yesterday sees
the scumbag banks buy all the way down in the SP500 … no worries though, cuz
when the lights are out and everybody sleeps and there aren’t 3 rabbits trading
anywhere except at Babu’s, here comes the PPT bailing the banks out … and
“lo & behold”, what a shocker! … the SP500 is at it’s high for the day, up about
85 index points right at the time the NYSE opens … an open which every single
frickin’ day sees “Chipmunks” [mutual funds, ETN’s, ETF’s, large hedge funds]
doing all of their buying/selling for the day in the first 5 minutes, from
9:30 AM EST - 9:35 AM EST cuz they have to by government or internal company
edict … “yes, it’s stupid & insane to force them to do this, but this is government
at work here, so WTF do you expect to happen”? … and then down goes Frazier,
taking the FX pairs with’em.
Yesterday, Bank of America, in a note to clients, lamented the fact that the FX
market is paying ZERO attention to FX “fun-durr-mentals”, and instead only
cares about the SP500 … “well, no shit genius gurus, glad you took the time to
notice, cuz we’re ALL SP500 TRADERS NOW! … and nothing tracks the SP500
quite like Cable [GBPUSD], except when it doesn’t, and their respective daily
candlesticks look eerily similar … directly below, with the SP500 the top chart,
and GBPUSD the bottom chart, here are the respective daily charts … anybody
but me see any correlation here? … it doesn’t have to be “tick-for-tick” exact,
that’s not the point … the point is, all the manipulations are connected to this
bullshit of “risk on / risk off” we hear every “Hoover Dam” day, and the money
flows track that relentlessly.
click on chart to enlarge
And so, it shouldn’t come as any big surprise then, that if the “Spoos” rallied
mightily over at Babu’s during the night, shorts were gonna get toasted in Cable
as well, and from the China open, it was straight up to the high of the day
… only, Cable wasn’t having any of this “wait for the NYSE open” horseshit, it
started going lower just after the crooks who man the Wall Street bank prop
trading desks hit the screens to start the day around 7 AM EST … Cable got a
bounce as “Spoos” hit the high just after the open, but as the “Spoos” came off
the high Cable got the “Thelma & Louise” treatment … and for the record, today
sees EURUSD & GBPUSD putting in a “DOUBLE REVERSAL” … 2nd day in a row
for Euro, which is simply amazing, cuz as I noted yesterday, you can go 3 - 5
years and not see it ONCE … so 2 dailies in a row? … that alone tells you the
“casino atmosphere” central banks are guilty of enabling with their reckless &
idiotic QE, and let’s bail out everybody!
I noted in an earlier blog, what happens when financial markets get “stretched”,
and asked the now telling inconvenient question the other day of, “Cable up 10
days in a row! … that’s nice, guess what happens next”? … you think it’s all
gonna be orderly & smooth, and all the spec long position holders already
picking out the color of that new Benz got the banks right where they want ‘em?
… guess again Skippy, cuz 70% of that gain is gone within 24 hours! … and
that’s if you’re quick … “c’mon, you didn’t want that car anyway”!
Trading conditions in Cable today not nearly as bad as what I’ve seen in EURUSD
& EURJPY, where looking at the order boxes it was a visible nightmare with 3 - 5
PIP changes in bid/offer when SHTF earlier … Cable by comparison took it all in
stride as the “Spoos” were going over the proverbial cliff … a few moments of
stop loss selling, but that happens regardless of the day in question.
And what we end up with is another day of complete insanity … anybody but me
notice how these “INSANE” days are becoming MOAR! frequent & violent in
EVERY MARKET … since the EURCHF debacle in January 2015, we’ve seen
disaster after disaster strike multiple different markets through the months … not
just “Stock Bellies” in March, but crude oil at the May expiration, and now FX has
picked up VIX & IVIX … why? … cuz “fun-durr-mentals” have changed? … hell,
nobody even knows WTF they are!! … No Skippy it’s the frickin’ FED, and they’ve
turned capital markets into “Bellagio East”, and their direct & overt manipulations
make every “Hoover Dam” market worse off than ever before … insane moves
now a daily occurrence that used to only be seen rarely … it’s the reason I refuse
to trade “Stock Bellies” any longer, cuz you can’t give me any guidelines as to the
risk I’m taking from any position.
And quite frankly, given what I’ve seen this week and today, you have to be
fucking insane to trade any of the stock indices … ZERO liquidity along with
ZERO VOLUMES, thank you very much central bank Dimwits … my only caveat
for FX is that it stops correlating when it does, and they don’t send you an email
letting you know of the “change in plans” … they didn’t call GBPUSD “The Widow
Maker” for nothin’ from back-in-the-day, it placed many a floor trader in the
“Traders Graveyard” with its wild ass swings, reversal & double reversal days
… whereas before 2016 and BREXIT, when there were in place some unwritten
rules about trading FX, that was all blown to shit with the EURCHF, and now we’re
at the point where the only rule is there ain’t any rules … which means if you do
“stupid shit” they will gladly carry your account out the door “toes up”.
Two algorithm buy signals today in GBPUSD … TURNKEY PAMM / MAM UP
SLIGHTLY LESS THAN 0.1%
Our 2 buy signals were the only 2 of the day, both profitable, and it’s not exactly a
day where getting long is the path to riches … that’s easy to notice in hindsight,
as 13 of the last 14 M30 candlestick are down … straight up in Asia, Europe waits,
and then “Thelma & Louise” from “Stock Bellies” … it is what it is, but as I said in
a previous blog post, FX spec positioning versus the banks is all important, and
when the specs get caught long, blood tends to soon follow … did you think
everybody gets to make money? … it’s good to be back on the “profits trail”, the
trading algorithm totally nailed the 2 long positions, and the signals are
exemplary when we get them … as I noted yesterday, I made some logistical
changes to deal with slippage, so what happened yesterday in EURUSD &
EURJPY doesn’t happen again in Cable … all in all today went smoothly, and I
had no issues with any of the trades … some good positive up days, and we’ll
book some really good profits going forward.
Blog update on Sunday … until then mi amigos … Onward & Upward!!
Have a great weekend everybody!
-vegas
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