IS THIS SOME KIND OF JOKE?

 

“Look, I found another gold trader!”

Everything you need to know about whether to trade a market or not, can be

summarized by the “Trading Ratio” [TR], and if it’s piss poor, you leave it alone

… cuz if you don’t the scumbag LP’s or bullion banks will carve you up … and

here half an hour before the criminal NYSE opens, gold has a TR less than 2,

which is terrible … there simply is nothing to do when gold crawls … up / down

makes no difference … it reflects no volume, no liquidity, and ultimately no

trading interest, and that only means it’s easier for scumbag bullion banks to

manipulate the shit out of it via red / green spikes from Hell that go nowhere

[it’s called front running] … maybe it gets in gear, maybe it doesn’t, we’ll see,

but for now gold is a cruel joke.

Oh boy, an $11 range of nothingness, and with “Stock Bellies” set to open via the

cash market, we sit smack dab in the middle … quite frankly, with OPEX tomorrow,

I don’t know what gets anybody to do anything, except the bullion banks running

stops and front running occasional orders … and with the attendant lack of

anything resembling a real market, if you get on the wrong side of things, the

question becomes “who’s gonna bail you out” with any kind of VIX? … I

addressed this yesterday, and it’s a very real problem in thin markets, and why

you have to leave them alone … makes no difference long or short, you got the

same problems … don’t get me wrong, though, we don’t need $50 ranges to be

profitable, just anything remotely close to New York’s range [8 hr] of

approximately $17, and we’re smiling … and this week so far, we ain’t gettin’

any of that, far from it!

Past the London Fix [somebody got “fixed” alright], and gold hitting a new low for

the day by pennies before a dead cat bounce … stop hunting as per usual by the

bullion banks in a dead end market that’s going nowhere, with no volume, even

less liquidity, and why should it be a surprise to anybody bullion dealers run

stops? … how else are they to get out of shorts at advantageous prices if not

from your market sell order? … “looking around, there just isn’t anything here

ahead of OPEX tomorrow in “Stock Bellies” … TR in gold hanging right around

2.1, which is pathetic but gives you a hint why there’s nothing to the extension of

the range to the downside … cuz there ain’t no volume! … quite frankly, this

reminds me of gold about 4 years ago when it was around 1200, and ranges

were routinely between $7 - $12 for the entire day, and New York was mostly just

completely dead cuz nobody cared about gold then … a different time, a different

world, and a radically different market than today … “oh well, it is August!”

And with Europe now closed, gold finally extends lower on sell stops, down into

the 1750’s … and why not?, with the HULL 120 EMA sloping lower the vast

majority of the day for the 4th day in a row … FX incredibly weak, the dollar

strong, and I’m sure that’s putting some pressure on gold from the bullion banks,

even with interest rates lower today in the U.S. … if this were any kind of

sporting event, the refs would have called it at 7 AM EST and told everybody

to go home!

Well, no trades today for obvious reasons … every time gold has rallied, even in

the slightest, on a pullback it can’t stop and regain momentum to the upside

… instead, it just keeps going lower … and it’s that corrective action followed by

some kind of momentum higher that we’re looking for to get long and profit

… the market just can’t do it … makes no sense to pre-judge how low gold can

go, we let the market tell us that, wherever that might be … since there aren’t any

rules any longer, it can literally go anywhere … no FOMO, no panic, the trading

action will tell us … onto tomorrow and OPEX.

… outta here … “The future’s so bright I need 2 pairs of “golden”

sunglasses 😎😎, and my own Brinks armored truck” 💓!!

… Onward & Upward!!

-vegas