Who knew Preezy Idiot Boy had a Ph.D. in “Stupid”? … we all did, even
Ex-Preezy Empty Suit and none other than Osama Bin Laden, who issued strict
orders in 2010 not to have Creepy Uncle Joe taken out, cuz if he ever got to be
Preezy, he’d wreck the country on his own … little did he know! … now, everyday
we get to get up and stare the news in the face and wonder what did he FUBAR
while I was asleep?
Sun coming up in New York, markets have been open this Tuesday for about
13 hours, and as i look at FX & gold, it looks like a WWI battlefield … nothing but
a barren landscape completely devoid of any life, with devastation everywhere
… EURUSD a 21 PIP range, GBPUSD a 54 PIP range, USDJPY a 25 PIP range, and
gold with a $5 range … oh boy! … if I didn’t know better, I’d say FX partnered up
with Preezy Idiot Boy to FUBAR the entire world! … but the market “guru’s” will
tell you it’s “hurry up & wait” time cuz Spicoli gives his Jackson Hole Speech on
Friday at 10 AM EST … maybe the “guru’s” never heard of August?
A $5 range in gold, and then suddenly realizing cuz they know where the orders
are, a spike up in gold to take out a buy stop that some scumbag bullion dealer
had his eyes on, and welcome to prop trading, front running New York! … doesn’t
get any more “scumbaggery” when it comes to financial shenanigans than the
“Big Apple”, but who cares as long as POLS, Apparatchiks, & regulators get their
“skim cut”? … amirite or amirite? … “oh, so sorry we take your buy stop out and
then “Thelma & Louise” it … market conditions don’tchaknow? … almost but not
quite a new high for the day and a new low for the day in 11 minutes … but you
know, world events and everything, and I’m sure the financial MSM hacks will
come up with some reason for the thievery, but they won’t mention the thievery
cuz they’d be looking for new gigs tomorrow … must maintain the illusion
… Goebbels speech at 1 PM, and it’s required participation Sheeple!
And just to put a ripe cherry on top of this clusterfark cupcake, it then goes and
makes a new high … so with no news whatsoever, gold comes within pennies of
a double reversal within 26 minutes … well, that’s “fun-durr-entals” for ya! … err
no, it’s just scumbag bullion banks front running order flow and after the stops
are hit, fading the move for profit … but but but Basel 3! … GTFO of here with that,
and the shit weasel lawyers who drew it up for propaganda purposes … same old
“Comex Con Game”, different day
Well, here at the London Fix, where a bunch of dumb ass institutions sure got
“fixed” alright, I don’t even know what to say about a day where it’s a complete
ZERO … if it was closed it would be more active … and just to show you that
Scumbaggery isn’t solely confined to gold, half of the days range came in the
30 minutes prior to the “Fix”, where Jimbo treasurer types of all sorts managing
corporate cash flow, look to the scumbag bank LP’s for their daily dose of
“bend over” … and the banks dutifully oblige! … “Oh congrats, you bought the
high … when do we play golf”? … and gold? … only an hour ‘til Noon in New
York, and gold has a “power” ALMOST BUT NOT QUITE $9 range … just do
anything, and hang on with your eyes closed, and when it comes back after you
double or triple up, click the button, pay the “Piper”, and enjoy the 3 cents per
OZ. you maybe netted … it could be worse, but I can’t think how! … “oh wait,
there’s tomorrow & Thursday, 2 days before Spicoli’s most important speech
EVAHHHHHHHH at the Jackson Hole shindig [virtual of course] … not gonna
prejudge, but if today is any clue, these 2 might be the most useless trading
days of the year, and that’s saying something cuz there’s plenty of competition
for that title … so, we’ll see.
To give you an idea just how ridiculous trading in gold & FX was today, earlier in
Cable, I got a buy signal, and then 11 minutes later it gave me the most
overbought reading I can possibly get … and here’s the kicker … it was UP less
than 1 PIP … as I’ve said before, there has to be a modicum of VIX in the market,
and if there ain’t any, then all of the structure and theory of your model or
algorithm goes out the window … what my investment finance professors used
to call “garbage in, garbage out” … and they become useless … hell, the algo can
deal with LOW VIX, but it can’t deal with NO VIX, and we are literally scraping the
bottom of the barrel … but again, it’s August and historically we’ve had some shit
Summers, but I would have to say 2021 is right up there for first or second place
in the last 20+ years in FX … it is what it is.
Afternoon in New York, and once again the criminal element of FX shows its face,
this time no more so than today’s 11 AM EST “fix”, where the usual suspects
shoved the major pairs higher to fill the “Jimbos” at or near the top … nice work
if you can get it … gold for all appearances, looks to finish the day with a sub $10
range … unless of course there are some surprises between now & the NYSE
close, which wouldn’t surprise me at all cuz we’re talkin’ about gold here, and
bullion banks got revenue needs … stop hunting a favorite sport in New York
afternoons.
One of the side notes of the current state of FX, is that USDJPY VIX is picking up
some … not “great guns” blazing, but today it had almost the same range as
Cable, and had a higher range than EURUSD … that should mean GBPJPY is in
play, and goodness knows it needs more VIX as well … today the “Dragon Trade”
as it’s known had an approximate range of 95 PIPS, so I’ll be adding this pair to
my list of “tradeables” going forward … having said that, currently my top 2
choices I look at first are gold, and Cable/Yen in that order … and if these 2 happen
to be dead [besides sending flowers], I’ll take a look at EURUSD.
The trading algorithm for FX [that includes gold btw] is exceptional … all we need
is some movement … yesterday, if I hadn’t been screwing around in BTC, both
gold and Cable/Yen had some great buy signals … and while Turnkey overall is a
good house, I’d stick with FX only … although, I didn’t have any problems with
the SP500, the “Stock Bellies” not only make ZERO sense to me, they aren’t
trading … it’s all a “one-way street” UP/DOWN, and when it’s over you’re staring
at the “Loser Formation” … I’m not “writing off” the “Spoos” forever, but right
now they’re a waste of time and energy … as I said yesterday, lately they’ve had a
solid 3 cent spread in crude oil, but today cuz I guess they can’t stand prosperity,
it’s out to 4 cents and that makes it a deal killer for me … crypto at Turnkey you
can write off 4EVAHHHH! … but, as I’ve said many times, most of the time the FX
space is excellent, especially in the major pairs, with good latency and minimal
slippage … usually … but, and this is key, if the scumbag LP banks do clip you in
FX, it’s usually not very much … maybe a tenth or two PIPS, but on occasion you
might run into the “1 PIP bomb”, especially in Cable … NEWS FLASH: that
happens everywhere, trust me cuz I know, so it isn’t anything that Turnkey can
prevent … so, bottom line is Turnkey is as good as it gets in FX and SP500 CFD
… after that, it’s a dicey situation in anything else they offer for trading … stick
with FX!
You’re gonna have to look long and hard to find a worse day of trading action
than today, and don’t expect the next 2 to be any better, unless there are some
“trial balloons” floated out of Jackson Hole to the press … and is usually the case
if that happens, all bets are off for it being a dead day … 2 thoughts I’ll leave before
I move on … 1) I’m impressed with gold’s resilience to the upside ever since the
FED bombed it 2 Sunday nights ago, and 2) USDJPY is picking up some VIX
… both have very good trading implications for us.
Meanwhile over in crypto, quite the violent day in BTC … quite frankly, I’m doing
for “The Syndicate” what I originally set out to do when I formed our informal
group … and that is take advantage of being paid to do limit orders! … 2 market
orders in BTC versus 2 limit orders = an approximate $100 difference in terms of
price! … today while FX slept, multiple trades in BTC for “The Syndicate”, and
we’re UP APPROXIMATELY 0.56%
No trades today for the TURNKEY PAMM.
Now that I’ve settled into FX [that includes gold], we won’t be having zero trade
days any longer for the PAMM … like I said, the algorithm is exceptional, and
even with shit trading days, today CABLE/Yen still had a 95 PIP range … and
while I was watching Cable, it was Yen that moved the cross today most of the
time, and so its range and movement caught me by surprise when I eventually
looked at it … live and learn, amirite or amirite? … so, let’s see what tomorrow
brings.
… outta here … “the future looks so bright, I need sunglasses”! 😎
… Onward & Upward!!
-vegas
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