Welcome to “markets held hostage” day, for yet again another utterly worthless,
useless, bullshit ridden, doublespeak ECB meeting that would make George Orwell
role in his grave … but, and this is very important, it will FUBAR FX enough so that
the scumbag LP banks can do what they always do, which of course is to screw
orders blind in the minutes immediately following any or all of the bullshit given to
the sycophants in the financial MSM … nothing special here really, cuz they’re just
like the other central bank Mafia crews who hold meetings, most notably the FED,
but the penchant for “fuck ups” in the presser is always the key driver for markets.
Nothing to do but chop, until the “Oracles of Wizardry” with the CNTRL-P machine
give us their twisted logic as to why printing money is the key to prosperity … all
gobbled up by the talking heads as if it makes perfect sense, when in fact
everybody knows it lays the foundation for currency ruin … “but hey, that’s later
down the road! … and who cares anyway? … party on dude”!
Meanwhile, the clock is ticking down for the POLS & Apparatchiks in Britain & the
E.U., to hurry up and get their ducks lined up via the rumor mill on BREXIT
“scumbaggery”, as the light at the end of this despicable tunnel of greed &
corruption comes to a close in mere weeks … or so they say now … never
underestimate the will of government to change the rules midstream to keep the
envelopes coming on time … cuz as Silvio so aptly puts it into its proper context,
“you frickin’ banks are only in our good graces as long as the last envelope arrives
on time, otherwise you sleep with the fishes” … color me not shocked at all, if this
BREXIT shitshow runs well into 2021 and beyond, cuz nobody wants to be the one
delivering the last envelope!
So, what did the Soprano’s decide today at the ECB interest rate meeting
decision? … anything important? … only that they don’t really care where the Euro
goes on the upside and meanwhile Cable sucks! … and there you have it right from
the horse”s mouth!
Oh boy, the wheels coming off the FX wagon today quickly … elevated IVIX INDEX
levels all over the place, and Cable gets mauled lower … another day of straight
down, straight up, then straight down into the European close, with nary a few PIPS
to the upside lasting more than a minute or two … a complete bloodbath in Cable
… however, what we learned today is good news going forward in EURGBP, cuz the
“green light” went on in spades from the ECB to take that pair much, much higher
in the weeks / months ahead into 2021 … and unless BoJo backs down, it very
much looks & feels like a very hard BREXIT is in the cards … and that means opportunity!
NO trades today in the TURNKEY PAMM / MAM.
Nothing I can do when everything is either straight down or straight up in panic
mode the entire trading day after the ECB presser … “sure, my eyes widened on
the Euro revelation, and was eagerly looking to get long EURGBP the entire day”
… OK, take a gander at this eye watering M15 candlestick in EURGBP, and tell me
where the break is to buy?
From the ECB presser until past the European close, nothing but straight up … only
the crooks on Wall Street able to break it a little once the lights were turned off
… welcome to “The FX Twilight Zone”, where only the strangest shit imaginable
happens with regularity … seriously, this is unreal … but hey, it is what it is, so I
deal with it and move onto tomorrow.
Meanwhile, over in crude oil land, “Dullsville”, as that market didn’t even have a $1
range today … the oil inventories report failing to move anything … I can predict
right now, tomorrow is gonna be an interesting trading day … my focus is on
EURGBP, and given what we found out today, it should be good … we’ll see.
… until tomorrow … Onward & Upward!!
-vegas
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