Well, how long did that take into 2022 before Turnkey’s “market makers” [they
sure as hell ain’t liquidity providers (LP’s) that’s for sure] FUBAR the crude oil
CFD with a ridiculous bid / offer spread? … right, not even 2 fucking days! … I
come to my screen this morning and what do I see? … well, isn’t this special, a
5 - 6 cent spread! … am I to assume this is cuz of the OPEC+ meeting? … if so,
this proves beyond a shadow of a doubt, that they don’t have LP’s, they only
have “market makers” who offer quotes based on their book, and they trade
against Turnkey’s clients … which doesn’t bother me cuz the market is gonna
go where it wants whether they like it or not, only it’s NOT what is advertised
… and the “big, bad OPEC+ meeting has got your “big girl panties” all bunched
up, and you need extra protection from any potential market breaking news”?
… oh, the poor dears, how do you cope? … and so, here we are in the early
morning breathlessly waiting for the thugs & dictators PR guy to walk to the
microphones and give us the latest … as for us, nothing to do but wait ‘till the
greed goes down and for whoever makes the market to lower the spread back
to normal … “never underestimate the unbridled greed of thieves & crooks in
finance to use whatever advantage they can to steal money … it’s about the
only thing they do exceptionally well” … and then of course, there are the
enablers like Turnkey [by no means the only one], who simply do nothing about
it and proclaim innocence cuz they’re just the broker middleman.
All of this Clusterfark won’t simply end the second the OPEC+ news is out
… since they’ve decided to play this game of ramping the spread they’ll wait a
while to see if they can get away with a bloated, bullshit spread until
management sees there’s no trading revenue hitting the computers … only then
will the spread go back to normal, cuz the ONLY thing they understand is MONEY,
and when you don’t give ‘em any is when they wake the fuck up and discover
religion and want you back … an absolute disgusting disgrace is what it is
… so, let’s just see how long this horseshit lasts shall we?
Well, about an hour before the NYSE open, apparently cuz news reports say
“anonymous” OPEC sources are telling anybody who will listen the makeup of
the meeting, Turnkey’s market makers [they ain’t LP’s] have lowered the spread
back to 3 cents … “I guess they found some brand new “big girl panties” that fit”!
… forget OPEC+, it doesn’t take management long when they see ZERO
TRADING BUSINESS, to get them off their thieving asses … I guess cuz they feel
bad, I’m seeing some 1 & 2 cent bid / offer quotes now as well, but mostly 3
… don’t kid yourself, the only reason it would be 1 or 2, is cuz they’re
over-positioned one way or the other and want to entice specs to bail them out,
it isn’t cuz they’re all of a sudden honest liquidity providers … and this pretty
much tells you what I already know, which is they are market makers first and
foremost for their own book, and will provide “liquidity” if it suits their purposes
… if not, you get slippage and are hosed! … welcome to real world trading in
2022 … and yes, I’ve already blistered Turnkey’s ears with this episode and
voiced my “displeasure” … not that they care, cuz they don’t … anyway, missed
some algo signals earlier, but at least things are back to normal [for now] … we
still got the rest of the day, and let’s see if things can remain somewhat honest.
Honest doesn’t mean much if trading conditions are DEAD! … and since the
OPEC+ meeting has been over, crude has stalled and doing NADA, now stuck
around $77 and some pennies, with the last 7 trading days [including today]
seeing a rather paltry collective $2.50 range, from about 75.00 - 77.50 … at the
top of this, Brent slightly over $80, where’s resistance to that price level
… meanwhile in WTI, we keep going back & forth to the 100 & 200 hour MA,
then reversing … a coil is building here, and while it’s anybody’s guess which
way this puppy explodes, I have a hard time seeing $80+ oil right now at this
particular time … later yes, but we still got “lockdown fever” in too many places
with POLS acting like “Little Joe Stalin” puppet figures … meanwhile, the
“Spoos” hitting a new ATH today, but selling off to near the lows of the day
and looking rather anemic at the moment … a lot of people long looking for
the bubble to keep going, but with “tapering” & higher rates coming, where’s
the “oomph” gonna come from?
And as I write, right after the London Fix, both “Spoos” & crude puke all over
themselves and get “monkey hammered” … oil going down 60 cents in 4 minutes,
and the “Spoos” going down about 15 index points in 10 minutes … and with a
new ATH today, the last thing you want to see if you’re long, is the “Spoos” put in
a reversal day on the daily from an ATH … so far, this is not good, but it’s a long
way to the NYSE close … for oil, just too many longs in the market right now, and
some folks have got to get shaken out … and what precipitated the drops you
ask? … a FED Pie Hole saying he sees 2 rate increases in 2022 … I’ll believe it
when I see it, and not until then … and after the drop, crude rallies STRAIGHT for
12 minutes in a row about 50 cents … unreal … just straight up the ladder.
If the FED Pie Hole is correct, though, I fail to see how this either supports or
makes for conditions that support the expanding of the “Stonks” bubble … and it
certainly doesn’t do crude any favors either … from these levels, we should be
moving lower, especially in the “Spoos”, and NASDAQ should be getting mauled
… previous sentiment was for only 1 rate hike in 2022 … I’m curious why he says
this now [Kashkari], especially since Europe and Asia are about ready to go
down the proverbial rat hole into a depression, especially China.
Well, from a buy side perspective at least for today unless and until they turn any
of this shit around, I fail to see how longs profit … that doesn’t mean it has to go
down, but given that prediction by Kashkari, who’s gonna step up and go
“balls out” long and turn this stuff around in any meaningful way … sorry, I don’t
see it … with only a few minutes to the New York afternoon, and the morning
utterly ruined by Turnkey’s so called “LP’s” in crude, maybe there’s some short
covering, but I doubt we see any kind of sustained buying … more likely bullshit
chop in the $76.50 - $77 range… as for the “Spoos”, fugetaboutit!, this ain’t a day
for buying anything in that space … like oil, most likely serious chop to the close
… we’ll see.
As sick as the European session is for FX, we need this time slot for oil cuz this
is when things start to roll and MOMO gets established … today we got robbed of
that … and from the time spreads came back in oil, and it’s time for the NYSE
open, crude has seen only about a $1 range from the tips ... both up / down in a
confusing mess of MOMO, with another daily range [so far], that’s significantly
UNDER its 20 Day Range MA … as for “Spoos”, they’re slowing down on the
daily ranges, and we might have some weeks ahead of us where it’s pretty
pathetic in terms of trading ranges … too much uncertainty over the winter with
all of the pandemic hoax bullshit going on, and governments hellbent on
lockdowns across the world … now throw in MOAR! INTEREST RATE
INCREASES according to the FED Pie Hole a/k/a Kashkari, and how does this
bubble increase? … it could be a very slow & painful winter for “Stonks” bulls
… and as Europe closes, already things are slowing down quite fast … this is
bullshit … welcome to the world casino circa 2022!
No trades today for the Turnkey PAMM … thanks Turnkey LP’s.
Over in crypto land, VIX is dropping faster than Biden’s cognitive abilities
… where the hell has volatility gone to over the last 3 weeks? … today another
pitiful trading session in ETH, which acted like corn spreads rather than crypto
… cuz if crypto ain’t gonna be volatile, the crypto trading algorithm will not
perform as expected, simple as that … no trades here today either, as I sit and
watch paint dry in crypto pairs … what a disaster.
OK, OPEC+ out of the way, so I’m hoping Turnkey’s LP’s going forward can bring
us what we need, which is a stable & consistent spread … today we didn’t get
that … but it’s good to see the HFT market maker they use finally find some
“big girl panties” to wear that fit, cuz I can’t bare the thought of these poor
dears having a hard time filling orders “they’re GUARANTEED to make money
on” if done right … life sure is a B. I. Itch when you can’t steal money whenever
you want, isn’t it? … I hope they don’t need therapy.
… outta here before my head explodes … “The future’s so bright I need
sunglasses”!! 😎 … Onward & Upward!!
-vegas
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