BIZARRO WORLD BECKONS

“In a world of massive layoffs … this number!? … another 6 sigma miss!”

Well, that escalated quickly didn’t it? … “if you’re gonna lie, LIE BIG! … isn’t that

what Goebbels taught all western leaders after WWII? … and sure enough, this

whopper of a lie sure takes the cake! … it’s tough to see how “Stock Bellies” can

crawl out of this mess today, given 1) such strong labor market growth in wages

[so they say], 2) such strong job growth [so they say], and most importantly the

FED PIE HOLE mantra of higher rates for longer we’ve heard all of this last week

… warnings that have been totally ignored by spec driven BTFD … and it seems

to me the FED Lounge Lizards are Hellbent on delivering rate hikes, up and until

“Stock Bellies” crack lower good and hard … they’ll just keep raising rates in

your face!

Today’s phantom 528K job growth lie, a 6 sigma miss among all of Wall Street's

best and brightest, making you wonder what they missed … now what smart

guys? … wonder what the JPM trading desks look like today, after mounting

frustration with market behavior here lately … are they gonna pass out

anti-depressants to clients now? … and here at NOON EST, given the complete

lack of movement after the NYSE criminal, money laundering open, and yes they

may just be handing out Valium tablets the entire day.

Talk about inexplicable trading days, this one takes the proverbial cake … 200+

index point drop in seconds on the 6 sigma miss in job growth … 3 minutes later

it’s straight sideways to the NYSE open, where at the opening bell it’s a race higher

of 150 index points during the first 45 minutes with ZERO corrective activity

… wait, WUT? … and if that’s not enough to first kill longs, then go after the

shorts, since then it’s been nothing short of a “snoozefest”, locked inside another

“Flying Wedge of Death” [FWD], where 20 - 40 index point rallies / drops come in

microseconds, not minutes … in other words, spikes from Hell, followed by

nothing … just enough juice to kill shorts / longs repeatedly … as I’ve said before,

you get no favors from the short side either, and the problems are exactly the

same as they are from the long side … and as we drift into the afternoon of a

Friday, I’m simply amazed this market can do NADA with a 6 sigma miss on the

NFP … it’s just a chopfest, which makes no sense … the implication for much

higher rates than the street is thinking is coming and/or is possible, is a complete

disconnect from what FED PIE HOLES have said all week, and if next

Wednesday’s CPI numbers still show high inflation, I can’t understand the bull

case for “Stock Bellies” to rip higher and with no worries.

And so here we are, diddle farting around in the DOW30 with no discernible

direction or trend inside a 100 point FWD … like yesterday … what they take up

quickly, they take back even faster to the downside … in looking at the daily

chart of the DOW30, it seems like every month has these multiple day periods of

3 - 5 days where nothing happens in very small ranges, and then things break

out … had it in May, June, & July and it’s frustrating to sit through … I would

imagine Wednesday’s CPI will set the tone for the rest of the month … high

and/or hot inflation numbers will only add resolve to the FED Lounge Lizards to

hike rates even more aggressively, faster than the street thinks, and it becomes a

battle of wills … the FED versus spec BTFD-ers … we could end up seeing rates

much higher than anybody thinks is possible … which of course leads to the next

problem of the depression that causes in 2023 at some point … none of this is

really any problem for the trading algorithm, such that all we need is some

movement … and 100 points over 6 or 7 hours ain’t gonna cut it, especially with

all of the spikes from Hell of 20 - 40 index points up & down … quite frankly, all

we need is better movement, that’s it … given the circumstances, I don’t think

we’ll have to wait long at all from here … it just is what it is and you deal with it.

No trades today for the PAMM in the DOW30 … sure, there were a few decent buy

signals, but there were also some “false positives” to wipe the smile off your face

as well … it’s not the winners I care about, it’s avoiding the losers, and that

becomes almost impossible when ranges and trading conditions suck … and the

last few days, they have sucked … also, as if we need other annoyances, Turnkey

expands the spread today to closer to 3 than 2, with [yuck!] too many 4's thrown in

just to screw with people … that is a problem, and it’s something these asshole

LP’s do when conditions deteriorate and trading volumes slump … they raise the

spread and throw some slippage into the equation to make up for lost revenue

… they should be in jail, but that’s another story we can’t do anything about

… the DOW30 today much stronger than the SP500, no doubt due to banks &

financials and higher rates … higher rates means higher spreads for them,

meaning they can screw depositors even more than they did yesterday, thus

theoretically seeing higher earnings … are there bigger scumbags, rats, and/or

virus’s worse than bankers? … I don’t think so.

Blog update on Sunday … onto next week, where I expect trading action to pick

up in the DOW30 … outta here … “The future’s so bright I need 2 pairs of

sunglasses 😎😎, and my own Brinks armored truck” 💓!! … Onward & Upward!!

-vegas