It’s “hurry up & wait” day, as the financial world prepares for tomorrow’s most
important jobs number EVAHHHHHHHH!, [until the next one of course, natch]
… tonight sees the BOJ with an interest rate policy decision [read “yield curve
control (YCC)], and inflation numbers, so the Asian session tonight may hold
some fireworks for GBPJPY … as for the “U.S. of China”, it should be clear by
now to anyone with a functioning brain cell still left, that 1) U.S. POLS are as
corrupt as anything the Norks, Chicoms, & Ruskies have in their arsenal, and
for my money lead the list of the worst … how many examples do you need?, and
2) the Lounge Lizards at the FED have no clue WTF they’re doing and “winging it”
… and if the numbers tomorrow morning are “hot”, you have to wonder when
“Stock Bellies” finally “get the message & smell the coffee” and start selling in
earnest.
Given where rates are at now, how the Hell does that translate into “taming”
inflation … let’s see, 10 YR. yield ~ 4%, and real inflation, not the made up bullshit
fed to the masses by the Department of Unicorns & Fairy Tales, a robust 10%+,
and getting worse … and “Stonks” and ‘Stock Bellies” blissfully ignoring it cuz
maybe the FED will pause or pivot … in what universe does this make any sense?
… but factor in corporate buybacks [the biggest financial scam in history next to
government “for the people”], the “Plunge Protection Team” [PPT] [government
buying stocks, what could possibly go wrong here?], and the publics appetite for
tech stocks as their proxy for financial salvation into the future, and it’s a rough
go to the downside in earnest … meanwhile, other central banks doing their best
to make the “Three Stooges” look brilliant … FX strong one day, and the next day
it stinks … go figure.
I don’t even know how you can accurately come up with any reasonable
explanation to describe the shit that went on today … bank troubles, JPM catching
heat for Epstein ties, “risk” suddenly found itself … unemployment numbers now
important? … you can’t make this shit up and have anybody believe you … then
there’s the “Pump & Dump” of “Stock Bellies”, where the entire space lives &
operates in fantasyland … melt-up, panic lower, rinse and repeat each and every
day, leaving nothing but wreckage along the way … throw in scumbag LP’s and
the way they fill orders, and generate slippage for themselves is disgusting, as
well as the banks and large funds running stops, and then fading the action
… quite frankly, they should all be in jail.
Then there’s FX, the largest criminal casino arena, where the daily Chicom
“Pumps & Dumps” in the Asian session set the tone for “risk on / risk off”
[RORO], and the orders go out across the globe so the money launderers can be
ready for the NYSE open, where Chipmunks everywhere feed and park money
… specifically, YEN moves are highly suspicious IMHO, and do so only to benefit
Japan’s banks, life insurance companies, importers and exporters … and with
anybody who’s anybody getting part of the “FX skim”, who’s gonna complain?
… then there’s days like today, where anything the day before NFP numbers is a
total joke … up / down / screw stops / front run big orders … Dear banks: “am I
close or am I close to the truth here?”
Quite frankly, I don’t know which arena pisses me off more or disgusts me to no
end … it’s a real toss up … today sees GBPJPY and the rest of the crosses
trading in tight ranges [although GBPAUD & GBPCAD have decent ranges],
which you’d kinda expect, but hope there’s some follow through somewhere for
some gains without the usual “walk up/down the hill” slow crawl bullshit we have
to withstand too often … nope, we get the worst of all worlds today … what a
bucket of shit … yes, the trading algorithm performed well, but the market didn’t
give us enough of any kind of action worth taking … GBPJPY with barely a 100
PIP range for the day, and basically most of the day following the “Stock Bellies”
up/down paranoia, which of course is insane but done anyway.
I mentioned the other day the other crosses with excellent trading conditions
… one of ‘em was GBPCAD, which I wrote about years ago as one of my favorite
crosses … quite frankly, it’s 2 biggest assets are 1) it moves well, and 2) it ain’t
the YEN, meaning the bullshit RORO we’re fed every day by the financial MSM,
which can be anything, can be ignored to a great extent … CAD is a commodity
currency, but it doesn’t have an insane central bank like Japan, so general moves
in commodity prices will affect it … but it moves, and what else do we want?
… well, only that it moves better or smoother than YEN, which can/is be a
nightmare … starting with tomorrow’s trade, I’m gonna switch over to GBPCAD
… lately, I just don’t like the pattern of trading action in either GBPJPY or
USDJPY … IMHO we’ll do better in GBPCAD, and if by chance this pair
disappoints, I’ll move over to GBPAUD … no trades today in anything … onto
tomorrow and the NFP Idiocy.
… 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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