Well, OPEC+ gives Biden the middle finger for double dealing and lying about
keeping oil prices “stable” … and more significantly, each new day sees more
cooperation and willingness to do business with the ChiComs … My guess is,
Saudi Arabia and others have figured out that the U.S. is not worthy of trust
… Gosh, imagine that … the U.S. stabs one of its “friends” in the back for political
reasons, and then expects no repercussions … higher oil prices here we come
… higher inflation here we come! … why should anybody be surprised?
Oil goes bat shit crazy [BSC] overnight as expected … I wake up this morning
and get to my screens and gold has made a round trip $20+ reversal move
… moves over $40+, and any bets New York can’t even move $10 once the
scumbag bankers get to their desks? … we’ll see, but this is sooooo typical of
markets these days … “Asia flies, the rest of the world dies!”
There isn’t any “normal” any longer in gold … it’s either panic selling or FOMO
panic buying, with more “V” shaped bottoms and inverted “V” tops than I can
ever recall seeing … what bothers me is the distribution of trading action that is
skewed heavily and more favorably towards the Asian session, and leaves New
York in the dust … you either can’t get it to break to save your life, or it’ll never
have an uptick again … and if that takes you into New York trading, especially in
the afternoon, you can expect mindless chop as far as the eye can see … yo-yo
FUBAR trading at its finest right here … quite frankly, gold is a nightmare to trade,
not cuz the algorithm doesn’t work, quite the contrary … the problem is trade
logistics … bid / offer spread that goes bananas too often and blows out, and
nothing but pure panic selling OR FOMO panic buying … and that equates to
buying rallies and/or selling breaks and hoping there’s a bigger idiot than you
to pay even higher on panic … and most importantly, the slippage factor goes
exponential from these scumbag bullion banks … nobody has a clue where
they’re gonna get filled on any order, cuz it could literally be anywhere … none
of this equates to consistent trading profits.
Well, trading crypto [meaning either BTC or ETH] at Coinexx is out of the
question … the shit Coinexx pulled last week in ETH, where a $25 move to the
upside saw the spread blow out to $17, should convince anybody of the blatant
thievery going on there … BTC simply too fat of a spread at $35+, and that’s
before slippage … the only place to trade crypto ]BTC mainly] is IQCENT
… spread of 1 or 2 pennies and NO COMMISSIONS … what the Hell do you want?
Starting tomorrow, I’m moving from gold to either EURJPY, GBPJPY OR WTI
Crude Oil … that’s not to say I won’t look at gold, if there’s opportunity, but the
trade logistics simply SUCK … and like I said, the slippage is horrendous … the
Mrs. today getting obliterated on a gold buy fill off an algo signal … she got
“lucky” cuz gold a few minutes later went past her fill and she was able to get out
… and I can tell you, that’s the last gold trade she will most likely ever do
… tomorrow she joins Miss Gimpy over at IQCENT to trade BTC … and, in case
you’re wondering, “The Syndicate” will make its return to crypto over at IQCENT
here shortly.
Lately, crude oil spreads at Coinexx have been relatively stable during U.S.
hours … usually 2 - 3 cents … today’s clusterfark in oil last night at the Sunday
night open saw spreads blow out, natch … stupidity reigns supreme at moments
like that … but by the time I came in [around 6:30 AM EST], spreads in oil had
already come down to normal … and in the 2 FX crosses, it’s simply a function of
trade logistics cuz they both have decent ranges with relatively good spreads
… not always, but usually … point is, anything is better than the bullshit I’m
looking at in gold … horrible, horrible slippage and bid/offer quotes that move
faster than Bitcoin on a hot trading day, thus ensuring almost with a 100%
probability you’re gonna get royally screwed on fills … ask the Mrs., she’ll tell
you, if you didn’t hear her screaming over the horizon earlier this morning!
No trades today for the PAMM … we switch over to the other trading markets as
of NOW … in addition, today I have a doctor checkup from my hospital stay last
October … just routine, quite frankly a waste of time, but convince the Mrs. of
that, so I’m going … got no choice really.
… OUTTA HERE early today, to support doctors who need more money … well,
it’s always nice to see the people who got me well from last year, so there’s that
… “The future’s so bright I need 2 pairs of sunglasses 😎😎, and my own Brinks
armored truck” 💓!! … Onward & Upward!!
-vegas
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