It’s gonna be a very long time, if ever, before I forget the massively overt,
bullshit, manipulated BAILOUT of scumbag bullion bank dealers by the FED
yesterday, starting with the Asian session and going right through to the CPI
release, and then to the close … you won’t ever see a more coordinated effort
by government Apparatchiks to defend, protect, and ultimately line the pockets
of the biggest thieves in the world, the Wall Street banks, most notably JPM &
other “market makers”, a/k/a as “liquidity providers” [cough, bullshit, cough], as
they have TWICE in the last 5 - 7 trading days led the “Thelma & Louise” parade
lower in the gold price to allow these scumbag banks to liquidate short positions
before Friday, June 25, cuz come Monday June 28 [Sunday night June 27 open
in Asia], they will be prohibited from trading “unallocated” [paper] gold on their
books without severe financial penalty … and unless some high powered shit
weasel lawyers can come up with an escape mechanism, the gold / silver trade
changes forever, and maybe … maybe … the world can go forward without these
parasites infecting the world of trading finance.
To show you just how FUBAR the entire trading world has become, thanks to
FED manipulation of everything related to money, yesterday’s print of annualized
CPI at 5%, is the highest in about 30 years … yet bond prices rally and yields go
down on the 10 YR. Treasury? … wait, WUT? … I can only assume that “smart”
[cough, more bullshit, cough] money managers the world over see a 1.44% coupon
on the 10 YR. in the face of 5% inflation, and think, “Wow, what a fucking deal
this is! … I mean, we’re ONLY LOSING 3.56% per year before taxes in purchasing
power, and how can you beat that”! … oh, to be so “smart”.
Cuz “smart” people can smell “transitory” right? … err, maybe not … directly
below, the Consumer Purchasing Power of the Dollar via the St. Louis FED
… “umm, excuse me, where on this chart can you spot “transitory”?”
Cuz it happens so frequently, it’s not even a surprise anymore, “Stock Bellies”
open yesterday right at the highs … cuz of course they do, cuz banks gotta feed
the Chipmunks their daily dose of “buy the fucking highs”, and which
immediately collapse in price, only too lose all of the gains and then go into
the infamous “Loser Formation” the rest of the day and limp into the close
going somewhat soft in price … on the surface, one might think this “Chipmunk”
feeding can be had for some easy money, but when it doesn’t work and price
goes lower right at the opening bell, your sell is gonna get shredded by the LP,
slippage is horrendous, and if you “blink” and think price will recover during this
waterfall, the losses can get quite heavy quickly … if you wanna play red / black
roulette, go to Las Vegas, cuz at least there they’ll give you free drinks and maybe
a buffet meal … EVERY DAY THIS WEEK, the Chipmunks got fed at opening NYSE
highs, only to see EVERY DAY seconds later a vicious drop that ensued … it’s how
Wall Street banks take advantage of mutual funds, ETF’s, and ETN’s that have to
do their buying in the first 5 - 10 minutes of trading from incoming overnight
money … what a scam … with of course the FED’s blessing.
For the last couple of weeks, scalping mode inside the trading algorithm hasn’t
worked particularly well for the MT4 markets … that’s cuz of much lower volumes
AND non trending markets that do nothing but drift … the DOW30 and gold have
done NADA for about 3 weeks, and in that time the 20 Day Range MA’s are going
lower, and over half the day it feels like the markets are closed … not so in crypto,
although today is a disaster for any kind of price movement, highlighted by ETH
not even having a $100 range [so far, at Noon EST], with a 20 Day Range MA of
$430 … talk about sub par, this is it! … still, some scalping gains can be had over
the course of the day in the alt-coins, but it’s nothing compared to a month ago
… as I’ve said before, it’s gonna take weeks / months for crypto to recover from
the BTC & ETH bloodbath suffered in May.
However, the trading algorithm is doing exceptionally well from a day trading
mode, that isn’t necessarily scalping … that mode is explained in the manual,
and if you trade the short side as well, more power to you, highlighted today by
both gold & DOW30 trending lower inside the trading algorithm … and for those
who haven’t taken the time to download and see for yourself, YES IT IS THAT
"HOOVER DAM" GOOD!
Now into the New York afternoon, the DOW30, after screwing once again the
Chipmunks at the NYSE open, is continuing to head down the rabbit hole face
first without so much as any kind of breather to the upside … volumes are
terrible and price action very lethargic, as it’s a slow walk down the hill … there
isn’t any “POP” to price from anywhere, and the algorithm is firmly in “sell
mode” at the moment heading towards the close … gold hardly any better, and
it’s been in “sell mode” since 4 AM EST [Asian session close / European open],
with only very minor respites higher that are quickly faded … the “wind” here
definitely behind the sellers backs! … unless trend changes here real quick
[minutes] I’m outta here, cuz I’m not playin’ on a Friday afternoon in New York
with the virus scum from Wall Street … ain’t no way you win at that rodeo!
One thing traders MUST DO, is differentiate between stone cold DUMB LUCK
[a/k/a the “coin flip”] in making money on a trade versus thinking it was due to
your “system” … remember, from a probability perspective, EVERYTHING
MUST HAPPEN EVENTUALLY, so if you can’t tell the difference, by default your
using the “coin flip” … EXIT QUESTION: “How many people earn a living
playing baccarat, where the probabilities are only about 0.4% against you?
… ANSWER: ZERO!” … so flipping a coin ain’t gonna cut it mi amigo!
Now we’re past 1 PM EST, and has my internet been shut off? … this is
ridiculous it’s so slow … and with that slooooooooow, comes no volume,
ZERO liquidity, and of course trapped traders praying for some kind of move to
anywhere … good luck … not once during the trading day from the European
open did we see anything close to “buy mode” in the algorithm … there were a
couple of “iffy” scalp trades in gold, but they lacked the requisite volume spike
to get me to bite … and I’m glad I didn’t bite, cuz all of ‘em went nowhere, and
without volume why should they? … the DOW30 simply a sell exercise from the
get go of NYSE trading, where up until a few minutes ago as I write, simply a
“speed of light … crickets” trade with ZERO upside.
No trades today in anything, either for the Turnkey PAMM, or “The Syndicate”.
I came into today, planning to initiate “day trade” mode in the algorithm, but we
didn’t even come close in anything … not gold, not the DOW30, and even the
scalps in crypto stunk … but no worries here, cuz up moves will come and I’ll
be there.
Blog update on Sunday … outta here … “the future’s so “GOLD”-en bright I
need sunglasses”! … Onward & Upward!!
-vegas
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