The ruling elite “Emperors” have no clothes … ineptness has never been so well
defined and on parade as it is now … Italian elections have unnerved the E.U.,
and if FX is any indication, the trouble is just starting for the control freaks in
the E.U. & U.K. … this is gonna be fun to watch.
And what you’re seeing today, is the unraveling of years of FX “scumbaggery &
fuckery” by central bank manipulators, as the chickens come home to roost, and
they ain’t exactly friendly or in the mood to be nice … remember 8 weeks ago
when Cable was 20% higher? … things are so bad in Britain, King Chuck now
has to iron his own shoelaces! … I mean, what’s the world coming to? … next
thing you know, he’ll be cooking his own meals and shopping at Tesco with
clipped coupons out of the Daily Mail … even the weatherman is piling on, with
reports of a “cold snap” coming next week … meanwhile, POLS being POLS, and
having no clue whatsoever except to do more of what fails miserably each and
every time it’s trotted out, act like “Deer in headlights” … the “expert class”
exposed as “Courtesan Clowns”, which if truth be told, we all knew anyway
beforehand.
“Never let a crisis go to waste!” … and the scumbag banks certainly have picked
up on that mantra, as spreads in GBPUSD get blown out by 400%+ … and the
message to you should be clear … if you think you’re gonna scalp Cable for 5 - 7
PIPS at our expense, think again … go ahead, make our day!... and when they
start freezing to death in central Europe, the same kind of panic selling will hit
EURUSD … and the very real big problem for both the BOE and the ECB is
simply this … if they intervene and blow billions supporting failed fiat currencies
[their own], and it keeps going lower still, what next? … ditto with rate hikes
… “quick policymakers, call Maduro in Venezuela and get some advice on what
to do to add ZEROS to your currency!”
Quite frankly, financial markets are in a first stage degree of shock … first the
BOJ intervention, now Cable craters to NEW ALL TIME LOWS VERSUS THE
DOLLAR, and EURUSD ain’t far behind with cold weather about to begin, and
they got no, as in ZERO, energy for their citizens … “Stock Bellies” precariously
close to getting further monkey hammered, and what’s the next shoe to drop?
… asking for a friend.
And as we get set for New York to come onto the scene in a few minutes, all
around it’s a very choppy bag of dog poo with spikes galore for the unwary
… I can’t imagine New York is gonna make it any better, but certainly can make
it far worse … fasten seatbelts.
Turning to today’s Keno board on the MT4, crude & Yen look and feel somewhat
dead … they aren’t of course, but the trade today is in Cable … here, we finally
got SOME KIND OF CAPITULATION IN GBPUSD … talk about panic selling &
liquidation at any price, you’d be hard pressed to see worse downside action in
any market than what we saw transpire today in Europe … simply wicked, as
liquidity dried up, spreads blew out, and conditions worsened to a point of
complete irrationality … haven’t seen this since BREXIT, and before that the
2008 financial crisis … “The Widow Maker” in fine form screwing traders left &
right, with help from scumbag LP banks … this is bat shit crazy [BSC]!
Quite frankly, with everything that’s going on, where does anybody go to get
their sanity back? … my first priority is to not get “whacked” … easier said than
done in multiple markets that have seen BSC up close and personal this year
… last week it was YEN intervention, and today Cable capitulation and trading
action that hasn’t been seen in a very, very long time … today’s Cable trade
simply wicked … Turnkey didn’t help of course, and their FX LP banks were
simply atrocious on fills … nothing new here, and probably not as bad as at
some other houses, but conditions are becoming a very big problem day-to-day.
I decided early on to move over to Cable today cuz it’s where the “action” was
concentrated most of the day … double reversal in crude oil today, and YEN was
simply slow moving … USDJPY looks & feels tired … dunno, but it just doesn’t
have any “oomph” in the trade … crude just looked sloppy the entire day, and so
far its 20 Day Range MA is about 25% lower than normal … what do you say to a
Cable market that goes down 500 PIPS, rallies 600 PIPS, then breaks 200 PIPS, all
before 1 PM EST in New York? … “I call it broken!” … most of the day Turnkey
had a decent spread, but after the London Fix, that blew out to 4+ PIPS, and it’s
still there … they absolutely will NOT let you short term trade this market without
paying the toll + horrendous slippage, so when conditions get like this, I got no
choice but to give them the middle finger and sit.
Multiple GBPUSD algorithm buy signals today … TURNKEY PAMM DOWN
SLIGHTLY LESS THAN 0.1% … given the terrible conditions, I consider this a
victory … add back slippage on fills, and I’m pretty sure we’d be up a few tenths
of a percent … but, it is what it is … I can’t control the behavior of thieves … I
see the trade, I see the entry and potential liquidation, and I hit the button when
I’m supposed to … sometimes that’s good enough, and sometimes it ain’t, and
when they come for you on liquidation with that red spike down, it’s ugly and
vicious and you know you’re gonna get screwed royally with a shit fill if you’re
one microsecond late.
Quite frankly, these last weeks I’ve been looking for some kind of capitulation in
FX … we haven’t seen it in EURUSD, but clearly it has been building towards that
event in USDJPY for some time, leading up to the BOJ intervention … now today,
given the Italian election upheaval, it’s Cable’s turn … it remains to be seen how
much is left to the downside given the scope of the decline already … granted,
Britain is a basket case on a par with any third world country run into the ground
by reckless spending, idiot POLS, and a clueless central bank … on the other
hand, they’ve weathered bigger disasters than what they face now, and the real
question is how much has already been discounted via price … I’ve said before,
it makes ZERO difference whether you want to trade from the long or short side,
simply cuz both sides face the exact same problems … therefore, there is no
advantage one way or the other … I would argue, though, that if anyone had a
time horizon of greater than a few years, Cable might just be a great buy & hold
for the long term, especially if one were in their 20’s or 30’s … and IMHO, down
here near par, it makes more sense to trade it from the long side than the short
side … just some thoughts.
Crude oil today not a very good trade at all … slow, clunky, not very much
“oomph” to price either up or down … a 3 steps forward, 2 back going up, and
then the reverse going down … I expect better trading conditions from crude
than this.
And yes, when it comes to FX, we’re in “The Twilight Zone” of price and VIX
action … it can literally go anywhere and do anything and there are no rules here
… the bid / offer price changes are so fast & vicious, you can easily buy 90’s and
then sell 60’s a few scant seconds later … thank you, come again! … I’m hoping
today is a “one off” in Cable, cuz quite frankly I expect USDJPY to disappoint for
a good long while, and until demand for crude builds back via China, crude may
be stuck right along with USDJPY chopping around and killing everybody that
touches it … reversals, double reversals, the usual bullshit banks and HFT’s
throw at us … and while I’m not disappointed in the algorithm, Cable’s reaction
to the Italian elections, or the trade itself, I’m extremely disappointed in the lack
of liquidity for a “supposed” major market … well, that’s a myth, I can tell you
that right now! … like I said, being down about 0.1% today is nothing … volume
was increased slightly today, and the PAMM yacht is out of the harbor and setting
sail … plenty of action to take into consideration going forward, but I’m hoping
the BSC conditions settle down some, especially going 500 down, 600 up, then
200 down … I don’t think the Cable market can handle that … essentially we have
4 markets I’ll trade … Cable, USDJPY, WTI Crude Oil, & lastly EURUSD if
everything else is stuck in mud … “Stock Bellies” look lost for the next 10 years,
so I’m not expecting good things in that market space for a good long time.
Onto tomorrow … OUTTA HERE … “The future’s so bright I need 2 pairs of
sunglasses 😎😎, and my own Brinks armored truck” 💓!!
… Onward & Upward!!
-vegas
No comments:
Post a Comment