Question is after yesterday, can we get any movement at all, or are we stuck in
“chop Hell” until September? …. supply keeps getting squeezed, and demand is
picking up, and the OPEC+ “Thugs & Dictators” [T & D] are doing a pretty good
job of controlling supply … meanwhile, energy expert Joe Biden has allowed the
SPR [Strategic Petroleum Reserve] to get to historic low levels, from which it will
take years if not decades to replenish, so the Banana Republic is vulnerable to
energy shocks … Vampire Squid just upped their year end forecast for crude to
$93 for Brent [currently as I write at ~$85], and those looking for cooling inflation
ain’t gonna find it from the energy sector anytime soon … not that it will dent any
enthusiasm for “Stock Bellies”, cuz they’re in their own universe of delusion.
Gold looks to benefit as well, but the key question remains can the price vault
back over 2K anytime soon? … doesn’t matter that the FED has hundreds of
BILLIONS in losses on the books from shorting gold … CNTRL-P it, and who
cares? … nobody audits them … when does the FED throw in the proverbial
towel? … and while I most definitely believe gold has much higher prices ahead
of it, I’m also a realist who sees massive short manipulation in gold by the FED
Lounge Lizards … prove to me you can move higher! … and then stay there and
move higher still!! … without getting the living shit beat out of you in a fraction
of the time it took you to rally.
NYSE opens & closes, what a money laundering scam … why not just have 10
minutes of trading at 9:30 AM EST and 10 minutes of trading at 3:50 PM EST?
… what’s the point of everything else, other than it’s a complete scumbag LP
bank run scam to fuck order flow? … what’s the point really other than that, cuz
I can’t really see one? … seriously FUBAR in the land of delusional trading
environments.
Then comes the other government scam, the release of so called “economic
reports” … whether from the math whiz kids or from government sponsored and
“in the tank” institutes, who knows what’s real and what’s made up from Fairy
dust? … and just like that, although today’s installment of data came in right as
expected, markets blow up as the 10 YR goes through 4% and currently sits at
4.049%, the high yield of the day … can anything move without either a POL, an
Apparatchik, or some bogus numbers? … I’m beginning to think “NO” … and
when it’s all over, the only thing left after bank front running is the wailing &
gnashing of teeth.
Gold for its part, can’t go anywhere on the upside with a heavy anchor of yields
above 4%+ on the 10 YR … a couple of attempts to go lower below 4% failed, and
since the banks blew up some shorts on the release at 10 AM EST, it’s been
straight down … rallies only coming on some light short covering, and then price
gets blasted again lower … and since there are no rules anymore, gold can go
down to anywhere … literally name a lower price, no matter how unlikely, and yes
it can get there! … without wind at its back, no market goes anywhere! … crude
oil fiddle farting around the 81 level, and trading is lackluster to say the least … a
little up/down, but the trade lacks volume and any kind of sustained interest in
moving anywhere more than 10 - 15 cents … moves are quick & sharp, and
correct even faster … quite frankly, there’s nothing here.
I’m gonna add back USDJPY to the PAMM trade mix, simply cuz it’s the only
market that’s moving … don’t really wanna do this, but then again I don’t want
to sit on my ass throughout the entire month of August either while gold and oil
fuck around a median price and do nothing but chop … high yields weighing on
gold and the resistance is formidable above 1980 … econ data, no matter how
bogus could get oil moving, but it’s gonna have to surprise to the upside to do it
… we’ll see … and outside of the ridiculous “Stock Bellies”, where liquidity is a
big issue cuz there is none, that only really leaves USDJPY for me to look at and
potentially trade … and the last half of the week looks particularly vulnerable to
some big price moves.
Quite frankly, trade conditions in the U.S. session are becoming a total joke
… no trades today, there isn’t anything here to trade … USDJPY about the only
thing keeping active traders alive … other than that, you might as well be
playing baccarat at a casino, you’d have better conditions … tomorrow sees the
fun start for the week … can’t be any worse than this shit now … onto tomorrow.
… 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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