Well the world didn’t end, and that got some on the Sunday night open to bail on
gold longs … but then here comes the ChiComs, and Bingo!, Bango!, Boom!,
gold goes up at the China open about $50 in an hour and 45 minutes to hit
another new record all time high [ATH] at #2354 per OZ. … they want the phyz
… you think they care about a few dollars per OZ., or the games the FED
plays while they sleep?
One thing is for sure in this new paradigm of gold trading, and that’s about 90%+
of the time whatever China does, you can expect the FED to do the opposite
when NY rolls around … rarely do all 3 world sessions [Asian, European, & U.S.]
go in the same direction … and what we’ve seen lately with few exceptions, is the
ChiComs “pump”, and the FED “dumps” … although it works in reverse as well
… days where Asia and/or Europe attempt to go lower have seen strong rallies in
NY … how much longer the FED can keep printing dollars via the CNTRL-P
machine and giving said funds to the “Rally Protection Team” [RPT] and/or
selling gold by borrowing gold from the GLD ETF remains to be seen … they’re
losing hundreds of BILLIONS OF DOLLARS!
Meanwhile crypto [BTC & ETH] goes bat shit crazy [BSC] on the Asian session
open as well, opening well past 20 Day Range MAs and/or Medians from Friday’s
closing levels … and that’s just on the open! … WTF! … and all of this with the
backdrop of higher U.S. Treasury yields, which should in theory put some kind of
cap on gains … NOPE! … not here, not now! … quite frankly, the world is figuring
out that U.S. econ stat numbers are complete BULLSHIT, and what matters is not
some whiz kid calculation, but the fact the Uniparty is borrowing $1 TRILLION
DOLLARS EVERY 100 DAYS WITH NO END IN SIGHT TO INCREASES FROM THAT
OBSCENE LEVEL … cuz if shit is sooooooooo good right now, what happens to
borrowing when a recession or depression hits? … $10 Trillion every 100 days?
… “it’s all a government house of cards, ready to be blown over at a moments
notice!” … throw away past gold charts, this BULL MOVE has the backing of
EVERY CENTRAL BANK IN THE WORLD BUT THE FED … “bigly & yuge” phyz
bids are underneath the market, and what they’re saying to the FED is simple
… “go ahead, hit my bid and make my day!”
What concerns me about gold presently is its rapid ascent to new ATHs, with nary
a corrective phase to speak of, thus making longs “comfortable” … and if there’s
one thing I know about gold after decades of trading it, is that when you feel
comfortable in a position, look the fuck out for incoming … they ain’t gonna give
you a second chance … not every dog gets to ride atop the fire truck! … sure,
there are plenty of reasons to feel good about gold’s prospects going forward,
not the least of which are the ChiComs backing it for 1) phyz for the Yuan
convertibility, and 2) the ChiComs are actively pushing it for Chinese citizens for
investment … that’s over a billion people, and I don’t see them walking away from
that … but the ChiComs aren’t stupid either … they’re better capitalists than the
virus scum on Wall Street, and so their buys are strategic … nothing they’d like
more than to buy a sell stop from a retail or institutional spec on a waterfall
… quite frankly, we’re just a tad overextended on the upside, but that doesn’t
mean it can’t get more overextended-er-er in a FOMO up move … I’d feel better
about gold if it can test 2300 this week at some point in New York trading … very
large phyz bids probably around the 2285 - 2290 level, and that should hold
… how long can gold go higher with 10 YR. Treasuries close to breaking 4.5% on
the upside? … we’ll find out with Wednesday CPI and Thursday PPI numbers
from the whiz kids, but with global tensions heightening and oil headed north
to $100 / bbl., do these numbers this week really matter? … quite frankly, only if
they’re “HOT”.
Into afternoon trading, and both ETH & “Spoos” a total joke … there just isn’t
anything there there, but chop and heartache … “do I have to move to Thailand
to get consistently good trading conditions during the Asian and some of the
European sessions? … apparently, I do!" … talk about a culture shock, that
would be it! … world peace breaks out & rates go higher still, and it’s having no
effect on gold, now higher on the day again … I’ll buy breaks, but I’ve never
gone FOMO cuz it’s a losing proposition, and I ain’t gonna start now … 2 really
good trade opportunities today in gold, and unfortunately I missed the first one
taking the dog out to do his biz … gone about 7 minutes, and in that time the
m15 goes to level 4, then rallies sharply … next time you can pee on the tile
floor … one trade for the PAMM, and it was the second time down … got long
and for my money it took too long to rally … PAMM UP SLIGHTLY … and after
diddle fucking around some it took off again headed north … really inexplicable!
… onto tomorrow.
… OUTTA HERE … “The future’s so bright I need 2 pairs of sunglasses 😎😎,
and my own Brinks armored truck” 💓!! … Onward & Upward!!
-vegas
No comments:
Post a Comment