The day after NFP bullshit, is historically one of the worst trading days of the
year, and that’s cuz there is literally nothing on the docket to report … however
the rest of the week is a veritable “newsfest” of central bank interest rate
decisions, and econ reports, starting with CPI tomorrow … and having said that,
overnight some excellent trading action in both USDJPY & crypto … of course,
with nothing going on for a Monday in New York, it’ll be more than likely
“shitsville” to the close.
I smell bullshit! … Ueda of the BOJ lets loose a nuclear weapon on USDJPY on
Dec. 7 … “a day that will live in infamy” … true, but with today’s modern sad
sack Sheeple, 90% of ‘em think history started the day they were born … and it’s
pretty plain to see if you’re paying attention, it was done on purpose to start a
spec community avalanche of sell orders from over leveraged long position
holders …. Mission accomplished! … then last night, Dumbberg in a
pre–planned report, says that “people close to the BOJ” [what a fucking joke]
are stressing there’s likely to be no change in policy in the short term … well,
isn’t that convenient? … and right there is your pre-planned financial
“Pearl Harbor II”, where all the right people and institutions get to buy USDJPY
“cheap”, and 48 hours later sell it 400 PIPS+ higher … “Merry frickin’ Christmas!”
… you’ll never hear this from the MSM financial “in the tank” North Korean
hacks at CNBC, cuz whoever brings it up will be working at WalMart in Wyoming
as a “greeter”, their career in financial “journalism” being over
… just ask Kathleen Hayes!
Turning to today’s bag of flaming shit, inside the world's most corrupt casino,
crypto & USDJPY with nice moves in the overnight session … gold gets
monkey hammered again, it’s got no place to go with interest rate cuts
OVERPRICED TO THE MAX FOR 2024! … implied rate cuts got so hyped to the
upside from a week ago, and now they’re coming down, but they got a ways to
go before they hit reality, and that spells trouble for gold … which we’re seeing
today down into the 1970’s … IMHO, it’s gonna be a while for gold to get its
“rally legs” back … until then it’s “dead trading money” from the LONG side.
Then there’s USDJPY, where “Pearl Harbor II” got successfully executed to
perfection within 48 - 72 trading hours, and all of the position players in “spec
land” got their battleships sunk, while all of the “right” people who are
connected to the BOJ via some channel, got the X-Mas gift of the century so far
… so with an approximate 180 PIP range for the day coming into the New York
session, isn’t it wonderful they can put together a session with about a 25 PIP
range [50 if you count 1 trip to the high and 1 trip to the low, but for most of the
day it was around 25 PIPS with “bigly & yuge” bullshit chop]?
But, it’s Monday after NFP, historically one of the worst trading days of the year
with ZERO news of any kind in the New York session, and I don’t care which
market you look at … all that will change tomorrow I can assure you with the
week getting going with CPI coming at 8:30 AM EST, and every day this week
there is market moving news flow … No trades in the PAMM today in USDJPY
cuz there’s nothing to do … yes, you can get a signal trade for very smallish
PIPS, but for the most part, algorithm parameters are flat, so where's the wind
at your back? … we need “slope” in the TEMA & SMA, and it would be nice to get
some volume … as for “arb scalping” USDJPY in this chop, fugetaboutit!
… there isn’t enough movement by anybody to the premium necessary for
an “arb scalp” trade.
Seeing this bag of shit on fire early after I hit my screen this AM, I notice crypto
is getting mauled across the board … MATICUSDT with a “bigly & yuge” range
of about 1400 ticks, which suggest “arb scalps” will be there … and boy were
they there in droves! … I had a boatload of “arb scalps” that looked like the one
below … this was just one of many, but typical of the day.
I had the Phemex platform minimIzed overlaying the IQCENT PLATFORM … all
I had to do is move my eyes about 2 inches to know where everything was at
price wise … today, saw the “basis” in MATICUSDT between about +30 PIPS
PREMIUM to at one point of over -40 PIPS DISCOUNT … that’s a pretty fat range!
… with a veritable shipload of MATICUSDT “arb scalps”, "The Syndicate" UP
APPROXIMATELY 0.8% on light volumes … I don’t plan on being over in crypto
the rest of the week, but when USDJPY literally slows to a crawl and the
movement & ranges are pitiful, AND crypto is moving heavily somewhere, I’ll
switch to crypto and look for the most volatile pair that makes sense … I traded
light volumes cuz with a 1400 tick range coming into the session, where the Hell
is that going to expand towards? … right, a very, very high probability the range
doesn’t get extended, AND IT DIDN’T … so while the volatility [VIX] is there cuz
the day’s range is 1400, it’s most likely gonna be “high range chop”, and that’s
exactly what it did with 150 tick movies up & down several times … onto
tomorrow in USDJPY.
… 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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