GOLD $2400 … THE CHICOMS ARE CALLING THE FEDS BLUFF

 

“The ChiComs may be thugs and murderers, but they understand this!!”

Your move FED, as the ChiComs waste no time last night taking gold to $2400

per OZ. … “whatcha gonna do FED Lounge Lizards? … sell MOAR!? … and what

happens some day when the world finds out you ain’t got the 8,000 tonnes of

gold you say you got? … both the FED & Treasury won’t allow an audit, so

nobody knows for sure if it’s there or not … what if it ain’t? … why would

anybody refuse an audit if everything were legit? … SHORT ANSWER: “THEY

WOULDN’T!!” … no need to ever fight a physical war, simply suck them dry and

take all of the gold while leaving them with worthless fiat toilet paper backed by

NOTHING … TO THIS DAY, IT STILL AMAZES ME THAT PEOPLE LOAN THE U.S.

GOVERNMENT MONEY, and get interest BELOW the real inflation rate … what

kind of special Dope does that?

Decades upon decades, and many years being ignored, gold does in a couple of

months everything known to human psychology to literally destroy a market

… and now at last, central banks buying the top and sending price into “The

Twilight Zone”, where if you trade it you’re nuts … this isn’t a market any more,

it’s completely devoid of market qualities … Hell, even Bitcoin when it was

going from 3,000 in May 2020 up to 66,000 for its first major top, had corrective

activity and could be traded … not gold, currently on a bender like sailors on

shore leave at a bar … and you have to wonder, what happens when the FED

finally does fold their cards and stops shorting gold and gets out … hundreds

of BILLIONS in the hole, what idiotic horseshit do they throw at markets then?

Currently we’re at “End of the World” long positioning part II going into a

weekend where Iran versus Israel seems to be a not insignificant probability

… when we wake up Sunday night and we’re all still here, will anybody care?

… Nope, I don’t think so, so why not gap up to $2500 per OZ. in 2 minutes and

just get it the fuck over with for the day? … actually trade some? … no, that’s

what’s known as a “market”, and that doesn’t describe gold any longer.

Bank earnings suck, “Gee who knew?”, rates on the 10 YR. still at 4.5% or

thereabouts, and the “Spoos” seeing extreme long positioning itself since

November lows some 1,200 index points lower, and you wonder when this

market cracks and goes “Thelma & Louise”? … and suddenly, while everybody

and their pet rabbit is picking out their new shiny red Porsche, along comes a

gut wrenching $50 drop in gold just to remind folks shit goes down as well as

up … some crazy ass bid/offers along the way, and I’m sure if you had a sell stop

in there you got treated fairly, right? Bwahahaha! … from a trading perspective, I

don’t care where anything is at in any market … it’s just numbers on a screen and

doesn’t reflect reality anyway … you ain’t trading what you think you are trading,

you’re trading human psychology, and it makes no difference if its “widgets”,

gold, or “Spoos” … they ALL act the same at different times and put in the same

formations on a chart, and by and large get traders to do the exact same things

they would do no matter what they trade … every market has its day in the sun,

and every market goes bat shit crazy [BSC] and gets crushed like all the others

… ain’t nothin’ special here in this arena, other than the “Stock Bellies” operate

in an “88/6/6” paradigm whether you like it or not, and all other markets don’t

… gold for its part, just had a senior moment, and let’s hope it leads to trading

instead of simply one way action before it dies until next time.

“Spoos” proving today, that no matter what the news is [and it was bad], there’s

ALWAYS tradeable rallies anybody can scalp using the algorithm … at least so

far into NOON EST, RM levels on both the m15 [RM=3] & m1 [RM=1, along with

the MACD histogram (8 period fast, 15 period slow)] doing exceptionally well in

modeling price behavior going forward a few minutes for scalps … if it wasn’t

for gold breaking like it has, I’d be paying more attention to the “Spoos”.

There come days in trading, not very often to be sure, where everything is NUTZ

and falling like “Thelma & Louise” headed to the bottom of the quarry … only

thing is, we can’t see where the bottom is … bottom coming in 3 … 2 … 1? …,

or the abyss from “300” that has no bottom … throw in overextended markets

that haven’t seen this level of long hubris, and it’s quite the setup for a Friday

where the world might end this weekend … [again!] … with people trapped,

countdown to the close has the potential to be a real disaster … maybe, maybe

not, but I don’t wanna find out … gold, silver, “Spoos” particularly vulnerable,

especially when those trapped convince themselves it can’t get any worse

… trust me, IT CAN GET WORSE!

Of the 3 markets, “Spoos” about the only one that can be counted on to see

some kind of scalpable rallies, simply cuz of  the “88/6/6” paradigm the rest don’t

have … gold the worst, gapping all over the place … Still, one decent scalp trade

for the PAMM and WE’RE UP SLIGHTLY … QUITE FRANKLY, “Spoos” are more

overextnded than gold to the upside, having put in about 1200 index points in 23

weeks with only 4 “Friday to Friday” weekly closes lower, and those not by much

… UP 30% on what exactly? … oh that’s right, all of those rate cut fairy tale

hopes and dreams that were gonna see 200+ bps of cuts in 2024 … now down

to 38 basis points and still going lower thanks to inflation figures that are vastly

underreported … how about a rate hike? … anybody got that calculus for the

“Spoos” or gold at these levels?

Won’t next week be interesting given what we’ve seen today? … 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

HERE’S WHAT I SAW YESTERDAY!

 

“A celestial force driving Libtards & RINOS to TDS!!”

Gold marches on … outside of the ChiComs and their insatiable demand for

phyz, it’s almost like everybody else doesn’t care about price … just buy, I don’t

care what the price is … and that my dear amigos is a very dangerous trading

mindset … tomorrow morning we get CPI made up numbers from the math whiz

kids in government, and in the afternoon FED Lounge Lizard minutes … every

market on Earth rigged for this I can assure you, with complete “Twilight Zone”

price moves in the seconds following the news … will the ChiComs care?

… does every dog get to ride on the fire truck to infinite price increases, and

then they all sell the top? … nice thought, too bad it never ever works

out that way!

What I can tell you is that gold over the last 50 years, has cost more spec traders

their accounts than all other markets combined … everybody and their pet rabbit

has got price projections past the edge of the solar system … it’s always been

like this since the 1970’s ‘til now … funny how life gets in the way, and it doesn’t

quite turn out this way … gold is UP 7 of the last 8 weeks, some $360 higher

… what can propel it even higher is a short covering squeeze the likes of which

this market has never seen … like silver back in the day … bankrupt some bullion

banks and squeeze the FED Lounge Lizards unmercifully, all the while the

ChiComs bid it higher and higher with no end in sight [remember the Hunt

brothers?] … until one day, everybody looks around and wonders who’s left to

buy … and in the next 30 seconds all Hell breaks loose! … kinda like the great

crash in “Stonks” in October 1987, where it just feeds on itself in a frenzy to

GTFO! … if this shit doesn’t settle down, that’s where we are headed!

Apparently the Dukes know something, cuz around 10:30 AM EST, market

Lemmings go over the cliff in unison … “Spoos”, crypto, and gold all get

mauled lower … position squaring ahead of the CPI tomorrow? … or maybe

NVIDIA, the darling of the “AI” group of tulip bulbs currently in favor, down over

2% on failing technical levels … point is, EVERYTHING IS OVEREXTENDED AT

THE MOMENT, and it doesn’t take much for an overleveraged trader to hit the

exit gate … although gold by far acting better than the rest … nice level RM=4

support hit on the m15, and subsequent turnaround in the “Spoos” … “there

simply IS NO BETTER PREDICTIVE TOOL I CAN GIVE YOU THAN THESE RM

LEVELS IN DIFFERENT MARKETS! … [“SPOOS” screenshot of the m15 [left]

and the m1 [right] directly below.

click on chart to enlarge

One can only hope both ranges and medians for the “Spoos” are breaking out of

this bullshit low VIX environment we’ve seen since last November … if so, the

“Spoos” can be a very good scalping / day trading vehicle … I would add,

though, only if the scumbag LP at Coinexx fills orders like they should … given

their track record, that’s a tall order, but we’ll see in the days / weeks ahead

… quite frankly, I want to get the CPI number behind us before venturing into the

“Spoos” … I’m a little surprised we got this level of range and VIX today … let’s

hope it stays like this!

Gold starting to succumb to pressure lower, and if we get below yesterday’s close

of 2339, there are sell stops below that … right now, we’re only a few bucks per

OZ. away from this level … buckle up! … I’ll point out, though, my biggest fear

with gold isn’t some catastrophic meltdown, but sideways movement that makes

any correction more of a time feature than anything in the way of price … if that

happens after the CPI tomorrow, I’m gonna move over to the “Spoos” and see

how we get treated there … I’m hopeful but not optimistic since both DOW30 &

NDX100 are a trading joke thanks to slippage … but the “Spoos” are the

benchmark, so we’ll see.

Outside of the mini meltdown started at the NYSE open at 9:30 AM EST and finished

at 10:30 AM EST, that saw the “Spoos” lose about 62 index points, and the

subsequent lower RM=4 hit on the m15 that saw an immediate sharp bounce, the

“Spoos” haven’t done much at all in terms of price movement … this is what I

kinda expected going into tomorrow’s “most important evahhhhhhhh! CPI print”

… all Hell is gonna break loose tomorrow morning at 8:30 AM EST, and if it’s a

“HOT” headline print of 0.4% or higher and bond yields start climbing, look out

below Skippy … tomorrow could be a wild ride … quite frankly, about frickin’ time!

Some chances today for gold to go lower, but the market can’t “seal the deal”,

and most of the rallies have been of the “dead cat bounce” variety … still, so far

we’re still higher on the day, so make that 10 out of 11 trading days higher for

about a $204 per OZ. gain … without some kind of correction lower on the day,

I simply don’t want to get long up here … onto tomorrow.

… OUTTA HERE … “The future’s so bright I need 2 pairs of sunglasses 😎😎,

and my own Brinks armored truck” 💓!! … Onward & Upward!!

-vegas

MR. “81 MILLION VOTES” IS A LIAR

 

“I never did that! ... oh, but you did!!”

Will the MSM press corp try and bury this latest lie from “Fuhrer Biden”? It’s

there on “X” with your name and account from the White House all over it, and

suddenly like a photo with Stalin, you ain’t there any more … did you vote for

this complete Doofus? … this is the same guy who raised funds in NYC the

same day the city is mourning a dead Long Island cop who got killed in the line

of duty cuz of his insane policies, and then skips town without a mention of

anything … did you vote for this complete Doofus? … cuz if you did, good luck

getting rid of the blood on your hands no matter how hard you try and pretend,

just like all the other Libtards & Rinos, that it’s got nothing to do with you

… BULLSHIT! … and while you’re at it, remember the 13 American soldiers who

died when “Taliban Joe” got ‘em killed in the Afghanistan withdrawal clusterfark

due to his complete incompetence … “if an “R” were in office, he/she couldn’t

get away with 5% of the shit Biden skates on routinely … this latest blatant LIE

about his transgender blunder on Easter only the latest example … if this were

Trump in office, he’d already have been politically executed by the elite &

haughty MSM … what a morally sick country … here’s the link from ZH

yesterday with the details.

https://www.zerohedge.com/political/i-didnt-do-biden-reportedly-has-no-idea-he

-issued-trans-day-visibility-proclamation

Meanwhile over in gold, rising bond yields having no effect so far on price

… inexplicable really when you consider “Stock Bellies” and crypto getting

mauled … I can only guess that when you spend $1 TRILLION you don’t have

every 100 days, with no end in sight from feckless, gutless POLS in the Uniparty,

there’s literally no reason to stop buying, as gold starts it’s “Palladium” journey

upward into the stratosphere of “The Twilight Zone” … not the case in crypto,

where rising yields are seeing “Thelma & Louise” show up for a spanking lower,

so far and it’s early yet, ETH already down about $240 from its high set earlier

in the trading day, and BTC down about $4900.

Well now, FOMO straight up, followed by getting beat like a baby seal at a

Japanese whale hunt … then nothing as we move to the end of the day? … can’t

complain about the level of action in gold, but can certainly complain about the

ever present ChiComs versus the FED battle going on … a lot of traders getting

really hurt in this battle … risk is very hard to quantify in this environment,

analogous to Bitcoin [BTC], where bat your eyes and it’s against you like a

lightning bolt, far greater than you planned … now what?

There are a few things I have gotten wrong about gold in this trading

“Twilight Zone” environment since the start of the year … 1) historical norms for

gold have not held up well at all, and by far this bull market is setting new norms

of trading behavior not seen since briefly in the late 1970’s … if you’ve been

looking for this the last 50 or so years, it’s been a very long wait! … we are now

much more likely to see “V” shaped bottoms than ever before, especially off of

RM=3 and RM=4 levels when hit on panic sell offs … wait for the confirmation

turn on the m1, and make the trade, forcing the market to go lower still after

some congestion, which we’ve seen lately it can’t do … and that sets off an

avalanche of “buy fuel” short covering … 2) I have been loath to trade and make

long trades on algorithm signals as NY goes into its afternoon hours … rather, it

isn’t the longs that feel threatened with shortage of time, it’s the shorts … and

we’ve seen all too often good moves higher as shorts panic … this has been a

mistake on my part, cuz quite frankly these moves can and have been fast and

furious at times … and 3) LONG trades off of RM=3 AND/OR RM=4 ON THE

DOWNSIDE on the m15, have provided excellent entry points for long trades

when the m1 goes “white” … some really good scalps are available here

… I’ve missed these waiting for the m15 to turn white which takes some time

… no more … I’ll be much more aggressive going forward when it’s appropriate.

Two trades today, one a “false positive”, which was more my fault than the

algorithm … I simply waited too long off the 18:30 server time low on the m15

that hit the RM=3 level after a nice $20+ drop … live and learn in the

“Twilight Zone” gold paradigm we now find ourselves in … you snooze and you

lose … if I had long spaghetti noodles, I’d flog myself for being such a fucking

Dope, cuz the m1 turned white within a few minutes of that low … PAMM DOWN

A HAIR OVER 0.1% … going forward, look for bigger volumes and results worthy

of trading a crazy ass market … this up a little down a little is bullshit … and

while it’s also available over in crypto, relatively speaking the risk parameters

in gold, at least up to and including now, are better than either BTC or ETH … we

haven’t seen 10% - 15% moves in gold like we’ve seen in crypto, and there is

better demand dynamics now than ever before … if you’re looking for proof that

metals can move, just remember Palladium … from the start of 2016 when it was

around $500, before the pandemic COVID hoax bullshit hit in March 2020,

Palladium almost hit $3000 … over the last few years it’s been in about a $1,000

range, from high to low, and visited $3k 3 times … currently a little over $1,000

… now that’s some serious movement! … so, gold from about 1600 from the

start of November 2022, if it mirrors Palladium in its bull run, would put the gold

price up around $9,600 - $10,000 before it’s over, sometime in the future

… why not, what’s to stop it?

One other thing is the cell value levels of the RM support / resistance levels in

gold, both for the m1 and m15 … if need be, I’ll boost them to higher volatility

levels when appropriate … I’d say we’re pretty close but not quite there yet

… I’m watching it closely and I think we would need to see consistent daily

ranges over $40, and NY session ranges over $30+ … we’ll see … onto tomorrow,

can’t hardly wait! 

… OUTTA HERE … “The future’s so bright I need 2 pairs of sunglasses 😎😎,

and my own Brinks armored truck” 💓!! … Onward & Upward!!

-vegas