Let’s see … FUBAR Afghanistan [ ✔ ] … Inflation out of control [ ✔ ] … Violent
crime soaring [ ✔ ] … Corrupt DOJ & FBI [ ✔ ] … Open borders [ ✔ ] … J6
LEADER VIOLATING CONSTITUTION [ ✔ ] … SVB bank failure & FTX crypto
exchange bankruptcy all within one year [ ✔ ] … “way to go “Taliban Joe”, you’re
doing a bang up job of destroying the U.S.!” … not sure anybody who wanted to
destroy the country could do a better job than this demented, corrupt bag of
political shit … keep up the good work.
“We won’t bail out banks!” … that was last week’s Libtard talking point …see my
shocked face, over the weekend it became clear that was bullshit, and on Sunday
it’s, “everybody gets made whole!” … this morning, “Fearless Leader” throws in
his worthless 2 cents, with no doubt “everything is fine” horseshit, which will
only intensify “Stock Bellies” selling in earnest, cuz everybody and their pet
monkey knows Biden is a LIAR & HYPOCRITE … just remember, everything
Biden touches turns to shit almost immediately.
Turning to today’s “Slots-A-Rama” at the casino, massive “risk on / risk off”
[RORO] flows dominating EVERYTHING at the drop of a hat … it’s very tough
judging panic at this level, and there’s plenty of it today … one thing you can
count on for sure, is government’s ability to FUBAR the shit out of the entire
process … “isn’t it amazing how fast Libtard tech Dopes got bailed out, while
people in East Palestine, Ohio still suffer from government malfeasance &
corruption AFTER ALMOST A MONTH OF SUFFERING … billions for Ukraine,
billions for WOKE tech donors & ChiCom Venture Capitalist firms [who just
happen to be SVB’s largest depositors], but ordinary people in Ohio get shit on
by a corrupt government … welcome to Authoritarian ‘Murica, where there are 2
sets of rules … this country makes me want to puke!
I realized over the weekend, and it was brought home in spades once trading
began Sunday night in this part of the world, that perhaps Cable isn’t the pair to
be traded in this clusterfark mess of panic we’re basically seeing every frickin’
day… I’ve mentioned before, everything traded has warts & blemishes … question
that I had once trading began last night was what spreads would look like once
China opened, and followed by Europe into the U.S?. … for FX, spreads held tight
at Coinexx pretty well, with only occasional blimps higher by a couple of tenths of
a PIP … “Stock Bellies”? … fugetaboutit! … they went bat shit crazy [BSC] … but
what I realized, whether I like it or not and no matter how ignorant & stupid their
central bank is, is that if you’re gonna scalp or short term trade FX, you got to
either trade a YEN cross or trade USDJPY … and since those YEN crosses
roughly have 20 Day Range MA’s equal to or less than USDJPY, you got to
“embrace the suck” and trade YEN cuz it’s the most volatile.
And today proves that point in spades … once I got up and turned my screens on,
of course I knew ranges would be blown to shit overnight, and they were … and
once Europe got going the panic set in … since the criminal NYSE open, FX
hasn’t done much of anything relative to the rest of the day … everybody and
their pet monkey waiting for another shoe to drop, and which regional bank in the
U.S. goes tapioca next? … for the RORO crowd there’s no better vehicle than
USDJPY … but the risk here is that RORO can change at the drop of a hat … so
far today, the v2.1 algorithm mapping price behavior about as good as it can get
… the RORO correlations tricky as Hell within “Stock Bellies”, following them for
a while and then ignoring them … all that matters are 2 factors for USDJPY
… 1) interest rate differentials in the 10 YR … 2) repatriation flows back to Japan
… it’s a pretty simple calculus … not so much for Cable & EURUSD and some of
the other dollar pairs where there are other variables in the mix.
As I said earlier, panic is very difficult to impossible to measure accurately, but it
feels like the world is sitting at DEFCON 1 … if another regional bank goes under,
all bets are off for support in the “Stock Bellies”, and the effect that will have on
USDJPY will be enormous … in any event, it sure will keep it volatile, and that’s all
that matters for us.
One algorithm signal trade today in USDJPY … PAMM UP SLIGHTLY … going
forward, while I like Cable, YEN is a better trade with more opportunity … I got to
it late today cuz of the switch from Cable … onto USDJPY tomorrow … USDJPY
saw a lot of algorithm signals today … it took me a while to gather my “YEN legs”
and get back to watching and analyzing YEN in context with the v2.1 algorithm
… one day is enough … tomorrow I hit it!
… 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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