Well, if you were looking for any kind of decent trading action today before
Christmas sets in on Sunday, sorry to disappoint you … Yup, this is “Holiday
trading” at its worst … no ranges, no volumes, and generally no interest … still,
with the spikes from Hell, though … can’t forget those, cuz they are now a
mainstay in markets, as the various banks run stops with impunity and front
run larger orders … and if not banks, then HFT;s or large hedge funds
[think crude oil].
A little bit of a pop for crude, as it heads towards $80, but overall the “Trading
Ratio” [TR] stinks … most of the day well below 3 and at times below 2 into the 1
handle … this means lots of m1’s that do nothing for minutes on end, then bursts
up/down out of nowhere that take price on a short ride … currently up, but with
almost ZERO volume, I don’t think you can trust the rally … still aren’t even close
to a $2 range for the day, which for this time of day is pathetic … gold pretty much
dead [so far] with an $8 range as “Stock Bellies” open at the criminal NYSE … the
DOW30 farting around on some econ stats that mean nothin’, but generally a bias
down … again, not much to chew on cuz there isn’t any volume [so far].
Now into the New York afternoon, and it’s getting worse … TR in crude less than
2 currently, gold at less than 2, and the DOW30 in the mid to upper 3 range … and
while that may sound good for the DOW30, one look at the m1 chart and you’ll
see it’s “chop” with spikes from Hell that go nowhere, with a light bias to the
downside after a run higher right after the open on Chipmunk buying … some
market … throw in the usual horseshit fills from “SLIPPAGE FX” [a/k/a Coinexx +
Turnkey, via a merger from Satan himself], and it ain’t anywhere as great as it
looks on paper … of the 3 markets, while all 3 have been very subdued today, I
will note that gold had the best trading conditions, even with a rotten TR … that
DOW30 rally right after the NYSE open lasted about an hour, and it took gold
along with it, where price went from the low of the day to the high of the day in a
straight shot up, before backing away down to the low to mid 1790’s … even with
that, the algorithm modeled its price action extremely well, something I didn’t
expect … you most definitely can’t say the same for DOW30 and/or crude oil
… that small rally extended the gold range today to approximately $12, which
given current conditions is about as bad a range you’re gonna see, Holiday
period or not … well below its 20 Day Range MA of approximately $24.50 … and
yet, the algo performed beyond well … this is important to know, cuz given the
chance for markets to be close to even with each other, you have to give the nod
to gold and assume things could slow down, in which case gold would be the
better trading vehicle.
As I’ve said before, gold has “warts” … guess what? … the “warts” are just as big
and ugly in other markets as well … both crude and DOW30 can be just as ugly as
gold, perhaps more so, so you can’t sit there and tell me there’s an edge in those
markets when things slow down … sure, when conditions are flying high every
market makes money … but what about when they don’t? … I won’t go as far as
saying today’s conditions in DOW30 and crude oil were a disaster, cuz they
weren’t … but they did have too many false positives on algorithm signals cuz of
the extremely low ranges AND/OR m1 action via the TR … I didn’t see that in gold
as I was watching it.
I was hoping we would see better trading conditions coming out of the European
session today … we didn’t get it … not even close … nothing to speak of in the
Asian session as well, which is not all that surprising given the calendar … as a
result, no trades today for the PAMM due to lack of volume and range in our 3
markets … Sunday is Christmas, so a shortened trading schedule on Monday
… gold is closed Monday … I don’t think next week will see trading conditions as
bad as this week … so it’s “full speed ahead” come Monday & Tuesday … blog
update on Christmas Day … hope Santa is good to you … Merry Christmas
everybody!
… OUTTA HERE … “The future’s so bright I need 2 pairs of sunglasses 😎😎,
and my own Brinks armored truck” 💓!! … Onward & Upward!!
-vegas
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