After watching the weakest Preezy in U.S. history make a complete fool of himself
at a rigged press conference, maybe markets melted down cuz of him … and he’s
only been in office 1 year! … imagine investor’s brain freeze at the thought of 3
more! … then there’s his “Manchurian Candidate” VP, trying to clean up on aisle
3 the mess he left, attempting to explain what he didn’t say when he said it
… she’s even a bigger disaster than “Taliban Joe” … she reminded me of a kid
giving a book report in 6th grade in front of the class, and not having read the
assigned book, she wings it and looks stupid … remember, “The Lord of the Flies”
is about flies, and how one fly rises to the top, and on and on it goes, with the
teachers head in her hands, slowly reaching into a drawer for the flask to get
through the day … I mean, these 2 are the most corrupt & inept in ‘Murican
history, and it shows.
Meanwhile, yesterday saw the BTFD-ers get destroyed in the afternoon … it’s
been a while since we’ve seen such ugly sell side trading action in the “Stock
Bellies” … and where was the “Plunge Protection Team” [PPT}? … as I have told
you, they don’t step in and sop up selling, and when the selling never relented,
they naturally never showed up … and the way things are shaping up now,
afternoons in New York are the key in almost every market … will “Stonks” tank
or won’t they? … if they don’t, look for the PPT to come in and shove the
“Spoos” back above 4500 … today is another OPEX day, with some $3 trillion
notional of options in “Stonks” going off the board.
As far as Cable goes, extremely quiet into New York trading, with a paltry range
of not even 20 PIPS since just after the European open when it got “monkey
hammered” lower … since then, NADA as it waits for “Stonks” in New York … and
the same for every other asset class, as everything now depends on how “Stonks”
act, as they’ve moved to the front of the line in the “risk on / risk off” [RORO]
balancing act … it doesn’t matter what happens in Britain, although they have a
central bank meeting on Feb. 3 where some are calling for a tightening … we’ll
see … what matters is “Stock Bellies” in the U.S., and the correlations are a
tricky minefield to say the least.
One word about Turnkey & oil, and then I’m finished with them in these markets
… you just can’t trust them cuz one second it’s a 2 or 3 cent spread and things
seem fine … then for no reason they jump to anywhere from 5 - 10 cents, and it’s
bullshit … I went around with them yesterday to no avail, and do you think for
one second they give a shit their clients are being mugged by a so called LP?
… Nope, they don’t … OK, then I’m not trading it and you lose business … and
that’s it … fucking Morons but it is what it is, and I’m not giving money away to
a bunch of thieves pretending to make a market.
And if by chance you’re trading any of the “Stock Bellies” at Turnkey, the spreads
are being taken out, and the slippage is gonna be eye watering … just be
prepared, cuz when they see the chance of screwing you, they will, and then cry
“DUH!, market conditions, DUH!” as they bend you over the fencepost … amazing
isn’t it, how other offshore houses can keep their spreads, suffer no slippage, and
life goes on? … and while I can’t know with 100% certainty, cuz I can’t see their
books, I’m pretty certain Turnkey shares the slippage with the LP, and that’s why
they do nothing about it … they have their favorite LP’s that get 90% of their biz,
and provide max slippage with the best payout back to the house … count on it.
Over in FX, it’s a completely different story … oh sure, the same thieves are at
work, but they steal pennies and fractions of a PIP cuz the volumes are much,
much higher … and these markets are much more competitive, so they can’t
really get away with grand larceny, just petty theft … even though a lot of specs
have left the space, there are still plenty of institutional flows, and of course they
front run orders and clip price a few tenths of a PIP simply cuz they can … so,
not as bad in FX, compared to any other CFD Turnkey offers.
And so we find ourselves at the criminal, money laundering NYSE open, where
Turnkey of course has the SP500 CFD with a spread of 1 FULL INDEX POINT to
as high as 1.3 index points! … “oh yes, let me sign up for this shit”! … never mind,
over at Simple FX you can trade the same SP500 index with a 0.3 index spread,
instantaneous fills, and no slippage … “I guess they just like losing money right?
… or maybe Turnkey’s LP’s are fucking crooks using increased “Spoos” VIX as an
excuse to gouge the shit out of anybody dumb enough to trade it and hand them
free money … so, which do you think is more plausible?” … and looking over at
Cable, this sick puppy can’t even get a 20 PIP range since 4 AM EST, and it’s
10 AM EST now … well, at least they’ve kept the spread normal, which isn’t
saying much … I’ve got algorithm parameters & metrics in Cable that are literally
sitting on top of each other … VIX? … WTF is that? … but the day is young.
And trying to analyze this, my sense tells me FX is in a total state of paralysis,
not willing to move at all until this afternoon when the big money shows up and
places their bets before the weekend & OPEX goes off … more losses and
another “Thelma & Louise” or the PPT shows up for a rocket ride north? … ain’t
nobody trusting anything … ranges simply pathetic in EUR, YEN, & Cable, and
we’re only a few minutes from the London Fix … none of this surprises me, as
nobody wants to step out in front of a freight train and get steamrolled into a
pancake they can’t recover from … the Mrs. is over at Simple FX trading the
“Spoos”, and wouldn’t touch Turnkey with a ten foot pole in their CFD’s … and
all I can do is sit here and watch Cable diddle fuck around up a PIP, down a PIP
hour after hour … pretty soon, I’ll be asking her for money!
Let’s be clear about all of this … you can thank the Lounge Lizards over at the
FED for causing the problem, and then falling behind the curve, and now are
stuck “jawboning” [Spicoli the “good cop”, the other FED Lizards the “bad cops”],
and attempting to bullshit their way out of a monstrous jam, hoping beyond all
hope inflation cools and the bubbles they’ve created can continue … if not,
“Taliban Joe” has got a new problem, watching “Stonks” crater and along with it
consumer confidence, which is already in the toilet, right into the mid-terms
… why do you think he’s now mentioning “illegitimate” 2022 elections? … cuz
even this demented pervert knows the proverbial “handwriting” is on the wall
and shit is about to get even worse than you can imagine … but hey, it isn’t like
many of us didn’t already know this would happen, cuz we did!
I don’t know how else to describe the trading action today in GBPUSD, other
than a horror show … WTF am I supposed to do with a 20 fucking PIP range for
over 9+ hours? … somebody enlighten me, cuz I’m outta clues … simply a
worthless day at the end of a week that sees the “Stonks” bubble start to leak
some serious air, and it’s got FX freaked the hell out … unless you really, really
got to do something, there isn’t anything to do here except laugh … it is what it
is, I can’t do anything about it … “Stock Bellies” are FUBAR, thank you very
much Turnkey and your list of market maker thieves in the CFD’s … you’d have
to be nuts to trade this shit here, given what you know about “bait & switch”
spreads and slippage … awful, simply awful … and in Cable, things are worse
than pathetic on this OPEX Friday … unreal is all I can say, and I move
onto Monday.
Over in crypto the bloodbath continues, especially in the big 2, BTC & ETH
… you’d think these Morons would learn, but they never do … greed ALWAYS
clouds their eyes … wanting more & more of the spec pie, cuz they just can’t
stand to see specs make good money, so they change the rules of the game
… don’t tell me these new “forced liquidations” rules got nothing to do with this
rout, cuz I’m pretty sure they do … the alt-coins trading much better, but the
carnage there is high as well.
No trades today for the TURNKEY PAMM … can’t trade the “Spoos” cuz of truly
idiotic spread conditions, and Cable is simply D.E.A.D. … as in a 20 PIP range
for the entire frickin’ day since I’ve been up … what’s next, locusts?
UP FRACTIONALLY for “The Syndicate” trading ADAUSD today … rallies few
and far between, but at least it moves in a recognizable trading pattern, unlike
ETH which I seriously don’t recognize any longer … between markets that have
become psychotic and thieving LP’s making bullshit markets and changing the
rules on a whim, it’s tough to know what next week holds … we’ll find out then
… blog update on Sunday.
… outta here … “The future’s so bright I need sunglasses”!! 😎😎
… Onward & Upward!!
-vegas
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