The “world’s Wizards of smart” have finally figured out, that war or no war, the
world can’t handle $125 oil … and right along with it, gold gets “monkey
hammered” $150+ from the top, and a whole new set of freshly minted “investors”
get fleeced again by the bullion banks … welcome to the “Comex Con Game”!
Meanwhile, FX kinda taking the day off waiting for tomorrow’s FED interest rate
decision, and not a helluva lot is happening … in fact nothing is happening since
right after the European open … EURJPY a pitiful range after some “scumbaggery
& fuckery” seen in the last hour of the Asian session, looking like somebody
trying to stop USDJPY from escalating into the 118’s … and from 8+ hours of back
& forth bullshit, EURJPY with an approximate 30 - 35 PIP range from the edges
… more like 20 - 25 PIPS that’s traded [low 50’s - mid 70’s for the most part] the
majority of the European day … and when you consider this is a cross and just
how little it takes for either the numerator or denominator to move to change the
value of the cross, you can then begin to appreciate just how slow this shit is today
[so far], cuz this kind of range can only be expected prior to big news or an
upcoming immediate Holiday … other than that, this has a very, very low
probability of happening … of course I wish it were otherwise, but it is what it is,
and we wait for the stinkin’ Lounge Lizards tomorrow at 2 PM EST.
And then right after the London Fix, when Europe closes, here comes Vlad with
some choice words on the “negotiating” … and a post fix mini meltdown ensues
… note the timing of this, not a coincidence by any means … and still, EURJPY
can’t shake the 129.50 area up or down except by a few PIPS, and over an hour
later into the New York afternoon, it’s DEAD … say goodnight … over the last 5
days, UP over 400+ PIPS, so it wouldn’t be “unexpected” to see some
liquidations of long positions up here … but not so far.
This is simply amazing … all I ask for in a market is 1) low spread, 2) normal to
decent VIX, and 3) no horrific slippage on fills … should be easy to find, right?
… at Turnkey it ain’t! … gold with a stupid $0.50 - $1.00 bid /offer spread ALL DAY
LONG, “Stock Bellies” seeing the “Spoos” enjoy an almost FULL INDEX POINT
spread, and last but certainly not least, crude oil with a LITERALLY INSANE
15 - 25 CENT SPREAD! … you can take all of ‘em & fugetaboutit!, and that’s just
with the spread, I haven’t said a word about slippage which is “HISTORIC”!
… that moves us over to FX, and today we get the worst range and action in
EURJPY in about a month and a half … that is ‘til tomorrow’s clusterfark waiting
for the FED … but it is what it is … can’t do a “Hoover Dam” thing with a 25 - 30
PIP range over 7, 8, or 9+ hours of trading action with some kind of tiny “Flying
Wedge of Death” [FWD] kicking your teeth down your throat!… sure, we got
signals today, how many do you want? … where’s the position goin’ with this
kind of bullshit range and super LOW VIX? … NEWS FLASH: yea, eventually it
breaks free, so what? … what do you do if it’s on the 35th signal, not 1 - 34, and
the first 34 were strewn with bullshit “false positives” cuz of lack of movement?
… and therein lies the problem, so we sit, simple as that … here in late afternoon
New York, EURJPY finishes the day with an approximate range of 83 PIPS, and
it’s 20 Day Range MA = approximately 147 PIPS … 80 of that came in the Asian
session, and the rest of the day was spent going lower to a new low by a few PIPS
for a reversal day … only missed it’s 20 Day Range MA by 40%! … and that tells
the story … but no worries, EURJPY will pick back up and we’ll get our signals &
trades.
Tomorrow of course, it’s the Lounge Lizards at 2 PM EST … who knows what
transpires earlier, but I would expect some fireworks come 2 PM EST, as the FED
shows the world how clueless they really are.
And BTC? … unreal, stuck in mud and not moving worth a shit … waiting for it to
make its move … somewhere … anywhere! … no trades today in anything
… EURJPY for lack of VIX,and BTC cuz its VIX is so low right now I’m not sure
it can be measured! … tomorrow is another day!
… outta here … “The future’s so bright I need sunglasses”!! 😎😎
… Onward & Upward!!
-vegas
No comments:
Post a Comment