Oh fun, oh joy! … another fun filled first Friday of the month where the
government math whiz kids over at the Department of Unicorns & Fairy Tales
get the Ouija board out and/or call Madam Cleo’s “see the future” hotline
[1-800-EAT-SHIT] … and despite every metric known to man shows a softer,
crashing economy into a depression, right along with massive tech layoffs, jobs
are plentiful according to the Unicorn department of propaganda … what utter
horseshit … who knew Applebee’s & Chili’s could hire so many bartenders,
waiters, & waitresses?
Yields slightly higher, “Stock Bellies” yawning, and FX not caring much,
although USDJPY is higher on the “news” … GBPAUD farting around in search
of a direction, with ranges and trading action a little better than I expected given
almost consensus NFP numbers, and it looks like post NFP some stops [both
upside, then downside] got hit … totally expected I might add, as both Cable
[numerator] and/or AUD [denominator] getting the order books cleaned out before
the weekend by scumbag banks, screwing both longs and shorts before dying on
the vine here shortly … quite frankly, I’d be shocked if anything continues to
expand the ranges in either direction, but I would note that GBPAUD on the daily
is a bit overbought and stretched, so it wouldn’t be a shock if it corrected lower
… commodities like gold & crude oil closed for the day … in a few minutes, surely
no later than 10 AM EST, the entire trading arena will be a graveyard of
nothingness … and while I could be wrong [Gee, that never happens!], traders
appetite for long weekends outweighs fuzzy jobs numbers by a mile … whether
you’re in a “pit”, or sitting at a desk doing electronic trades, it doesn’t matter, you
just want to GTFO! ASAP.
Bitcoin for its part, already in weekend / Holiday mode, and its range for the day
pretty tiny relative to its 20 Day Range MA … it could move dramatically over the
Holiday weekend, or it can sit and diddle around and do nothing … it’s a coin flip
… no trades today on this Holiday shortened day and into the weekend … blog
update on Sunday.
… 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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