The Monday after an NFP, historically & consistently one of the worst trading days
in existence, is upon us … 2 weeks from last Friday is Easter Holiday, which will
be worse, both the days in front, and then the days after … the FX [and most
markets really] space starts its VIX “washout” … barring some one day wonder if
there are actually any cease fire and/or peace news between Russia & Ukraine
[doubtful], simply cuz there’s too much money to be made by POLS &
Apparatchiks via weapons sales for it to stop, this is gonna be a rough next
couple of weeks for markets to show any “oomph” … some look like they’re
already dead [say “hello” EURUSD].
Yesterday, I posted the link about the Ruble being pegged to gold and oil … say
hello to the first gold backed currency … as the author of that article suggests,
doing some back of the envelope math, gold [phyz, not futures] looks to have a
floor around 1940 from the CBR [Central Bank of Russia] … given that phyz gold
carries a premium to paper, seeing the LBMA bullshit trading price of around the
1930 area, I’d say the author is correct, and one look at the daily chart shows
some solid support for gold at 1900 - 1925 … seems unlikely since everybody is
predicting plenty of rate hikes to come … how come gold doesn’t seem to care?
… 1) the market is looking past the rate hikes to the depression that’s coming
from the Lounge Lizards and their policy error, and 2) the CBR “peg”.
Another day of complete and utter bullshit from the FX space … it simply takes
way too long for this shit to move anywhere … hour after hour for a few PIPS?
… UGHH! … quite frankly, forcing myself to get up and look at dead markets
churning is sickening … yea, the Yen has had a little run, but EURUSD &
GBPUSD are a joke, and Turnkey’s LP’s have ruined the crosses … VIX
manipulation plays havoc with the algorithm, where you get day after day of
bullshit tiny ranges, and then here comes a 150+ PIP day followed by more
bullshit … I simply can‘t take this shit any longer and stay sane … if they moved
it would be different, but they don’t, at least not consistently enough for my
trader blood … I know what I said the other day about EUR & YEN being the
only 2 markets at Turnkey with low costs … I also know if I can’t trade ‘em what
difference does it make?
These Turnkey markets leave us with ZERO good choices … I have to pick a
market that moves and hold my nose from the stench of Turnkey’s scumbag LP’s,
who never met a market they didn’t like to steal money from … I got no choice
… and given the new gold paradigm, thank you Vlad & crew, going forward we’ll
hold our nose and be in gold … quite frankly, I don’t see how it can be any worse
than the utter horseshit in FX … and if the spread gets blown out, I wait ‘til it
comes back in … I have reached the outer boundaries of sanity dealing with FX
… fuck ‘em, I don’t care anymore … so back to gold, and I’ll just deal with it if
there are problems … no trades today in anything … gold today completely dead.
And in BTC? … moves in Asia can’t do Mr. Jack Squat in either the European
and/or US sessions … today, not even $800 … how pathetic is that?
… outta here … “The future’s so bright I need sunglasses”!! 😎😎
… Onward & Upward!!
-vegas
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