Third day in a row, that by the time the sun comes up in New York, some 3 - 4
hours from the NYSE open, the “Spoos” already have a 100 index point range
… today sees NATO saying no troops in Ukraine, despite what “Taliban Joe”
utters between diaper changes … so until 2 PM EST, it looks and feels like “risk”
is back on … that is of course until it changes its mind.
Waiting for the Lounge Lizards to walk this tightrope act … not much to do except
wait, the range in Cable / Yen since I hit the screen around 5 AM EST a paltry 25
PIPS … about 3 hours ‘till the FED announcement, and I can’t see anything
happening now unless somebody has some inside info to act on first, which is
always a possibility when the FED is involved … hurry up & wait.
Quite frankly, the Lounge Lizards are in a terrible position, one that they
themselves can take the blame … they’re the ones that created the “Bubble”, and
now with inflation out of control, unless they bankrupt the federal government
via ruinous interest rate increases, there’s no way to escape more QE to prop
“Stonks” & endless giveaway corporate buyback Ponzi schemes … in other
words, they’re STUCK! … if they come off to “dovish” today, it’s a sign they’re
caving to the SP500 [they are and always have!], and if they stay the course with
all of the “hawkishness” over the last months, they will be seen as “tone deaf”
as the economy & “Stonks” get monkey hammered even lower … especially the
NDX100 … and through all of the “dot plot” increases of future rates, gold has
not gone down at all, and in fact is crawling higher … if the FED caves on rate
hikes, gold will explode to the upside, as it’s seen there is no way to fight
runaway inflation under “Taliban Joe” & his motley crew of Communist misfits
… and it only gets worse as each FED meeting goes forward from here … end
games are always a B. I. Itch for any market, but the biggest financial bubble in
the history of the world will be especially painful when you consider the
“Three Stooges” of finance … namely, “Taliban Joe”, Spicoli, & Grandma Yellen
… count on ‘em to FUBAR the country right down the drain.
Well, that escalated quickly didn’t it? … and quite frankly, I’m left a little
confused by the “Stock Bellies” reaction of moving higher quickly … the FED
didn’t tamper back anything, and in fact stayed rather hawkish IMHO … how that
translates into higher “Stock Bellies” prices is beyond me … if they carry through
with this bunch of rate hikes and QT, the SP500 has no place to go but down,
unless of course you think the market is looking past this to the next recession
where things ease … really Wall Street? … you going there? … as for Cable / Yen,
it’s all a Yen show today, as Cable has a 30 PIP range and has decided to take the
day off … it’s hard to figure “risk on / risk off” [RORO] for the cross, when the
SP500 has ranges that every day exceed 100 index points … the scope of
correlation changes by the second, and the cross, for the most part, simply chops
again today wih a subpar range yet again … about the time the cross starts to
even move a little, it dies again for hours on end just as quickly, leaving the
trading algorithm metrics & parameters right on top of each other … it doesn’t
help things when Europe is closed either … onto tomorrow.
No trades today for the Turnkey PAMM … spreads blown out in almost all
markets limits anything I can do in the “Spoos”, and GBPJPY simply spending to
much of the day chopping around doing NADA … it is what it is, I can’t make it
move … Over in crypto land, in the European morning multiple ADA trades for
“The Syndicate”, and we’re UP APPROXIMATELY 0.2% … I’m still very leery of
the alt-coins right now, and am very quick to pull the liquidation trigger, cuz I
don’t think the bear market is over by a long shot … there is more pain ahead for
crypto, but not necessarily for BTC but everything else, and these “rips” lower
come with such speed and viciousness, if you get caught in any of them it will
be painful … I don’t plan on getting caught in anything! … take the profit,
and grind!
… outta here … “The future’s so bright I need sunglasses”!!😎😎
… Onward & Upward!!
-vegas
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