You mean “Stock Bellies” can actually go down? … huh, who knew? … and while
the whole world watches other markets, “Stonks” mini “Thelma & Louise” in the
last 2 hours, going past RM=4 on the m15 for 2 hours straight into the close … a
yuck jobs number tomorrow and who knows the hilarity that comes our way with
a weekend that looks like Iran & Israel are ready for war … no worries, I’m sure
Biden has a plan … Bwahahaha!
And the propaganda “fix” continues, with another “pie-in-the-sky” fantasy jobs
report, where half the blowout gains are part-time jobs that pay ZILCH, the other
half illegals mowing lawns, and the other half government hiring … where are
the full time jobs? … well, they’re in the shitter that’s where, but who cares?
… somebody enlighten me how government hiring is a “good thing” … and of
course, the ensuing chaos comes “el quicko mucho”, none more so than in gold,
where sell stops got brutalized … a few minutes later, we’re off to a $60+ gain in 2
hours, with no corrective activity, and then it’s the “Loser Formation” … like so
many other markets that have gone hyperbolic over these last years, from crude
oil to USDJPY, when the FOMO is over THE REAL CARNAGE CAN BEGIN, and
gold will be no different … traders today betting on the end of the world over the
weekend, as Israel and Iran look ready to go to war.
But hang on a sec … how many times over the last 70+ years has the west heard
from dictators and ragheads about “total annihilation”? … remember Saddam,
and how he was gonna return body bags by the millions back to the U.S.? … how
long did that war last, a day or two at the most? … and who got overthrown and
died? … bluster and bullshit are their biggest allies, and their threats are NOT
aimed at Israel, they’re aimed at the nutjobs that live in their own country … you
think the Mullahs 1) really want to die this weekend, or 2) live in a deep bunker
for the next 50 years? … start a war with Israel for real and find out just how fast
they kick your ass back to the stone age … come Monday, and we’re all still here,
where do gold longs go from these levels?
Sure, I’m bullish on gold, and have been for a good long while … but over the last
70 or so years this shit has traded, we’ve never seen FOMO like this … EVER!
… and while I believe there are plenty of gains ahead, only greed grows to the sky
unabated and devoid of reality … and quite frankly, IMHO, today is the kind of
blow off day that short term tops are made of … the potential for an “ugly” drop
is high, if not Monday then sometime next week … this cannot be sustained.
Inexplicable.
As I stated before, the viciousness of the “V” bottoms, and their subsequent
“elevator up” in spades ascent, is something to behold … good grief, if you’re
buying the green spike up, close your eyes and get ready for a fill from Hell
… NFP Friday is always a crapshoot, simply cuz the numbers are made up fairy
tales and always have been … a propaganda tool for FED Lounge Lizards
… very tough to navigate, and for my money the absolute worst trading day
each and every month it comes around … whatever the narrative is in any
market, Wall Street will find something in the report to latch onto and push it in
that direction … today, though, gold is about WAR and the fact we’re all gonna
die this weekend, so “load up” … well, if that’s true, “load up” for what exactly?
… there won’t be anything to “load up” for!!
The good news is that ranges, both daily and NY, are expanding at a good clip
… that doesn’t mean every day is Christmas morning under the tree, it means
conditions are favorable … now all we need is some actual “trading” that isn’t
just a buck or two inside the “Loser Formation” or tight chop … I thought we’d
see it this week given the gains … NOPE, just more FOMO … it just heightens the
probability that in the days and weeks to come we’ll get the conditions we want
for trading … straight up / straight down ain’t it … blog update on Sunday
… cya then!
… 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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