Ever since the fall of the old Soviet Union some 30+ years ago, those in power in
the Kremlin have been warning about the eastward encroachment of NATO
… and of course, nobody in the West listened or cared … fast forward to 2014,
and we have the U.S. led coup led by Ex Preezy Empty Suit & his VP “Taliban Joe”
… got to have a “friendlier” Ukraine right on Russia’s border, and besides, we got
weapons systems to sell and for scumbag POLS to receive commissions,
kickbacks, and bribes, along with fam members financially raping the country for
financial benefit … “ring any bells Biden apologists”? … then came the Minsk
Accord in 2014, and since day one the Ukraine government has violated it
repeatedly, and over 14,000 people have died in about 8 years in the Donbass
region, where not coincidentally they are Russian speaking and align more with
Russia than Ukraine … up until recently, did any of you ever hear about any of
this in any of the propaganda outlets of the MSM in the U.S.? … Bueller, Bueller?
… nope, can’t be bothered with minor details while POLS get rich … only thing
is, Russia was keeping score.
And while the Azov unit of paramilitary Neo-Nazis, backed by the Ukraine
government, kept killing people in the Donbass, idiot POLS in the west kept
expanding NATO east, and ignoring everything … to be fair to Putin, it isn’t like
he didn’t warn them … this entire world clusterfark could have easily been
avoided!! … and the blame lies SQUARELY WITH OBAMA [for initiating the “coup”
in the first place], TRUMP [who turned away for PR reasons], and finally BIDEN
[who’s never gotten anything right in his entire life!] … the U.S. could have reined
in NATO, and over the last months the U.S. could have gotten Zelensky to stop
his government’s genocide in the Donbass … but nope, too much graft,
kickbacks, and fairy tale fam deals [where’s Hunter?] in the millions for that to
happen … and BINGO!, here we are!
Don’t get me wrong, Vlad & crew are thugs … but now when idiots like Clown
College Senator Lindsey Graham, goes on TV and publicly advocates the
assassination of Vlad, what’s to prevent Putin from sending “hit squads” to the
U.S. to take out U.S. POLS? … where does shit like this end? … and Vlad’s
gonna say, “well, you started it, and I’m gonna finish it, so fuck you”! … more
than likely, the attack on the nuclear facility was a “warning” … “we ain’t fucking
around, and if you envision a world without Russia, we can surely envision a
world without the West … you gonna evacuate the entirety of Europe from
nuclear fallout that’s 10X worse than Chernobyl? … you had better rethink your
priorities quickly, cuz we don’t care anymore”!! … and what that means, is that
we ain’t in Kansas anymore Dorothy.
From a trading perspective, quite frankly there’s ONLY ONE MARKET TO EVEN
LOOK AT, and that’s gold … everything else is a trap of quicksand with blown
out spreads, and seriously shit fills & slippage from the likes of houses like
Turnkey … and since I’ve long advocated trading gold ONLY from the long side,
what happens next is only to our benefit … settle in for a very long and protracted
war in Ukraine, and extremely heightened tensions between Russia & the U.S.
… and to make matters worse, just look who’s in charge in the U.S. … talk about
depressing, this is it! … and the law of “unintended consequences” is only
beginning … EXIT QUESTION: “Did the U.S. intentionally provoke this war to
create a recession / depression where interest rates come back down to ZERO
CUZ THE FED IS TRAPPED? … as I and others have been saying for a while now,
interest rates can never be allowed to go up cuz it will literally bankrupt the ability
of the U.S. government to borrow and spend given the level of the national debt
… so what better way than to get all of these “rate hike fairy tales” blown to shit,
than by starting a war? … and you somehow think the only Psychopaths in the
world are in Russia? … want Psychopaths? … look no farther than the
“D.C. Swamp”! … how many do you need”?
Quite frankly, I’m pretty sure the entire financial world is in shock this morning
… we ain’t ever seen anything like this before, and the ramifications for markets
are profound … crypto [specifically BTC] & gold are the only clear winners IMHO
going forward … NFP bullshit simply doesn’t matter … shit just got real in a big
way, and with this attack on the world’s largest nuclear facility as a “warning shot
across the bow”, “happy talk from soy boy Diplomats is over”, and Russia is
letting the world know in no uncertain terms Vlad is serious … want WWIII? … it
looks and feels like he’s ready if you are? … want your kids and loved ones dying
for a corrupt U.S. puppet regime in Ukraine? … cuz ultimately that’s what it’s
gonna boil down to … and my guess is, that’s when “Taliban Joe” and the U.S.
deserts Ukraine, and they’re on their own … impossible you say? … tell that to
all the others over the last 60 years that got fucked and stabbed in the back by
the U.S. … “we’re your friends and allies to the end! … or until we change our
mind! … Oops, gotta go! … good luck on your own!” … and sadly, that’s the
history of the U.S. since 1963.
And you somehow think that “Taliban Joe” has the balls and intelligence to steer
us through to a different conclusion? … sorry, I sure as Hell don’t see that
happening, as the guy doesn’t even know the difference between Iran & Ukraine
[see SOTU for details] … a complete fuckup in every way imaginable … dunno
what the future holds, and hopefully things don’t get totally out of control … but as
I sit here and write, I’d be less than honest if I gave some kind of rosy scenario for
how all of this plays out … one thing is for sure, though, and that’s financial
markets are in a different paradigm from overnight … the world ain’t the same as a
week ago … markets are as dangerous and nasty as I have ever seen them … that
doesn’t mean gold goes straight up, but it does mean the “sleepytime” days of
gold trading from a few years ago is gone forever … much bigger ranges in store
going forward, and unless the U.S. can somehow avoid total bankruptcy in the
months / years ahead [not at all likely], gold has got a very promising future
… BTC as well, but I can’t say the same for other financial markets.
I am reminded of something a veteran trader from the floor told me decades ago
when I first hit the floor … “no matter how distasteful it is to take a small &
insignificant loss on a trade, just remember in this business it gets worse
exponentially, a whole lot quicker than you think”! … gold will have its
“moments” going forward, cuz by no means is it gonna be a straight shot to the
sky … VIX is increasing, and my guess is, gold will be getting a whole lot of other
traders coming back to it in the days / weeks / months ahead … that will mean
FOMO & panic buying as well as selling … quite frankly, this isn’t a gold market
you have ever seen!
But, having “cut my trading teeth” in the gold pits of Chicago at the start of my
career, I can tell you flat out that one thing that will never change is gold’s ability
to surprise both up & down, and that you can’t “wing it” in your trades and expect
to survive … gold has killed more trading accounts since the 1970’s than all other
markets combined! … patience & discipline are REQUIRED, no matter your trading
model / algorithm / plan of attack … all I’ll say, though, to those who want to
consistently sell gold, is good luck cuz you’re gonna need it … which brings me to
the scumbag bullion banks … I’m not so sure they’re on board with the “Rally
Protection Team” [RPT] of the FED … they may be scumbags, but they ain’t stupid
scumbags … they can see the proverbial “handwriting” on the wall for gold’s
longer term potential price, so why would they sacrifice firm capital for the sake of
Apparatchiks at the FED? … that doesn’t mean we won’t get some mean ass
breaks, cuz surely we will … today has seen 3 $20 breaks off highs or near highs,
only to come right back in spades … quite frankly, I was keenly watching the price
action for future clues, given the new paradigm gold finds itself in … and while not
perfect, the algorithm does very well calling the bottom after it’s put in.
We got multiple algorithm buy signals today in gold … unfortunately, all but one
got blown through with a blow torch on tissue paper … the one I did execute sees
the TURNKEY PAMM UP SLIGHTLY … starting Monday of the new week, I’m going
to attempt to stay up late and trade the first half of the Asian session … then get
some shut eye, and then be back for the New York session … Asia is seeing way
too good of signals to ignore it as an anomaly … if anything, Europe is the dead
horse here … I’ll see how I handle it physically, but I think it should be OK … I’m
not skipping sleep, just delaying it a little.
I was happy today with our gold fills from the bullion bank … less than a nickel
per OZ. slippage on entry from the offer, and liquidation was spot on … latency
on the fills was acceptable, meaning there was no time to hold the order to screw
me … let’s hope this holds! … the spread also behaved after the reported minutes
of the nuclear facility attack hit the wires … this was a welcome surprise, cuz I
thought initially Turnkey would blow them sky high … but no … OK, now keep
it like this!
Over in crypto, the alt-coins getting hit hard … BTC only off a few percent by
comparison … still, not much trading action to the upside at all, a reflection of
the “risk off” mood everything financial except gold … no crypto trades today
… the buy side trading action was horrible, with very pathetic volumes … can’t
make it move if it doesn’t want to go up … onto next week for crypto.
Can we get through the weekend without WWIII starting? … asking for a friend
… it would be nice to see a tame Sunday night open, but I wouldn’t count on it
… the risk now in the gold trade, is getting stuck on rallies, and it’s why you can’t
buy rallies … you have to buy breaks … and getting caught in a waterfall gold
break after you just bought the rally is gonna leave a mark … in gold, the big
money motto is “it has to break first to go higher, or it has to rally first to go lower”
… the reason is, big money needs your order to get the best price, so if they can
convince you it’s going higher when in fact it’s about ready to gallop lower, then
it’s “mission accomplished” … over the decades, it’s been what gold is all about
… well, won’t next week be interesting as well … can’t hardly wait.
Blog update on Sunday … outta here … “The future’s so bright I need
sunglasses”!! 😎😎 … Onward & Upward!!
-vegas
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