GOLD STARTING TO MOVE … CAN IT LAST?

 

“My 2019 message to the gold market!”

Better action over the Christmas Holiday, than in the 4 previous weeks … gold 

starting to move, the question being can it last? Today’s market very thin, with 

widened spreads, no volumes, non-existent liquidity, and a market price 

structure about as stable as nitroglycerin.

No PAMM trades today, but some options trades in the C2 signals advisory, 

where our volatility positions have paid off handsomely over the last week, and 

sees us today ringing the register by hedging up in selling higher strike prices 

… implied volatility [IV] if gold has expanded about 20%, and that has helped 

our long option positions, as well as the price going up.

Tomorrow sees us and markets worldwide get back to normal trading … gold 

needs to see some “backing and filling” in price, or it’s gonna get overextended 

like it’s done in the past and then get “monkey hammered” lower … stocks are 

not out of the woods by any means, but are greatly oversold which should see 

gold attempt to run some sell stops from longs in the market … in any event, 

I’m looking to play those stops from the long side when they occur, when 

trading conditions resume some kind of normality tomorrow.

Until tomorrow mi amigos … Onward & Upward!!

Have a great day everybody!!

-vegas

OUR TURNKEY FOREX “PAMM/MAM” IS OPEN AND

OPERATIONAL, AS WELL AS OUR C2 OPTIONS ADVISORY 

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WHAT HAPPENS NOW?

 

“When government turns it all to shit almost immediately … markets included!”

Well, somebody showed up in Asia to ramp gold higher, no doubt thinking of 

Sec. Treas. Mnuchin’s comments on markets and the “Plunge Protection 

Team” [PPT] this weekend, indicating “Everything Is F-ing Awesome Baby!” 

bullshit, that scared the living shit out of some traders and prompted a mini 

rush into gold … well, that fizzled, and now we find ourselves slightly higher in 

dull trading that is slowly stepping higher. I certainly don’t see any urgency on 

anybody’s part to be long up here … maybe that changes when New York gets 

going here in a little while, we’ll see.

And while gold is struggling to go higher, it sure as hell is struggling more to go 

lower … even the mildest of dips goes nowhere, and for now, the sell stops of 

those who are positioned long, seem … somewhat safe for today … but, what’s 

 “safe” in gold isn’t written in stone, but upon shifting sands. “I think what 

really matters today, in this shortened Christmas Eve session, is where the SP500 

goes, and if it gets “monkey hammered” again like Friday, will the PPT show up, 

or are Mnuchin’s words just bullshit jawboning? … we’ll see, cuz markets usually 

end up testing the will of government when they lay down a marker”.

So, the question going forward well into 2019, is how does gold respond to all 

the volatility and chaos created by world governments? … so far, rather muted 

if you ask me, and the “Comex Con Game” seems very much still in play … I 

don’t get the sense there are any bullion dealers changing their approach to 

gold, but in fact doubling down on selling any and all rallies with both hands 

… and in all of this, trading action is getting worse, not better, and what 

baffles me is that the very people who need a functioning, vibrant market are 

doing the very things that lead the market to die … go figure!

More action than I had foreseen early today, but given what’s happening 

elsewhere, it’s not a total surprise. Stock indices melting down, and of course 

what the government Twits & Apparatchiks don’t get, is the more they go on 

shitboxes like CNBC and say “Everything Is F-ing Awesome Baby!”, the more 

stocks go down … just STFU already.

And after stocks meltdown, it appears the PPT showed up, and that has put 

the proverbial nail in the coffin of gold rallying further today, cuz now it’s 

simply a choppy mess … “as I’ve said before, gold has morphed into a market 

that does not “trade” anymore … it simply lurches to a spot and then dies, before 

lurching to another spot and repeating the process … corrections should be 

traded, but too often they are the end of the move, leaving you with nothing but 

heartburn … and the below historical norms for volume, liquidity, and range 

are sadly lacking in substance, which makes trading even worse … you can say 

whatever you want, but when other markets are flying and yours sits and doesn’t 

do Mr. Jack Squat, in the scheme of things it doesn’t bode well going forward, 

and in fact defines a classic “death spiral” … just ask silver, and that market can 

tell you all about it”.

And, to bring this point home, look at today’s action … a small rally while the 

SP500 is getting “monkey hammered”, but when the PPT shows up, that’s it 

… there’s nothing left, thanks for playing, see ya later … “OK, where’s the 

trade? … and that’s my point, there isn’t one, until the next lurch to somewhere 

that comes out of nowhere”.

Quite frankly, I am loathe to trade Holiday shortened markets … this market 

will be here on Wednesday, so why get stuck in mud? … “sure, it’s easy looking 

back in hindsight, but only the Mrs. & the dog do that … get involved in some 

kind of bullshit predicated on some other market correlating gold’s moves [read 

SP500], and your asking for trouble in a major way before the Christmas Holiday 

starts. So, it’ll be here day after tomorrow, where I’m still looking for some kind 

of break that extends the range lower in order to buy … so far, over the last 

couple of weeks, we really haven’t seen that at all”.

For all of my readers, have a wonderful and joyous Christmas Holiday, and 

I’ll be back on Wednesday, ready to tackle the gold market once again … until 

then mi amigos … Onward & Upward!!

Have a great Christmas Holiday everybody!!

-vegas

OUR TURNKEY FOREX “PAMM/MAM” IS OPEN AND

OPERATIONAL, AS WELL AS OUR C2 OPTIONS ADVISORY 

SERVICE.  DETAILS IN “DOWNLOAD LINKS” SECTION IN 

RIGHT HAND COLUMN. START YOUR JOURNEY FROM 

WHERE YOU ARE AT TO “ESCAPE TO SUCCESS”!

 

SUNDAY UPDATE … GOLD BEGS

 

“The way gold used to trade!”

Even with Wednesday’s & Thursday’s increased volatility, gold still ends the 

week poorly … looking at the chart below, there isn’t much to cheer about when 

it comes to gold.

 

click to enlarge ALL 

 

Pretty much everything across the board on Friday got “monkey hammered”, 

and while the volatility continues unabated in the stock indices, gold barely 

moves in New York … “what happens when these other markets slow down, 

what happens to gold then? … if it’s slow now, what will that disastrous scenario 

look like”? … fortunately, 2019 is shaping up to be a tumultuous year, filled 

with volatility, and I’d be surprised, if at some point, gold doesn’t eventually 

end up joining the party, cuz with the FED in completely hopeless mode, it 

should give a push to gold going higher.

Tomorrow sees Christmas Eve, and unless something dramatic happens to 

shove gold out of its lethargy, I’d be shocked to see any more movement past 

about 10 AM EST, with everything closing early at 1:30 PM EST. I’ll post 

tomorrow, take Christmas Day off, and then be back Wednesday. We’ll see 

how tomorrow develops, but I’m not looking for much.

Until tomorrow mi amigos … Onward & Upward!!

Have a great rest of your weekend everybody!!

-vegas

OUR TURNKEY FOREX “PAMM/MAM” IS OPEN AND

OPERATIONAL, AS WELL AS OUR C2 OPTIONS ADVISORY 

SERVICE.  DETAILS IN “DOWNLOAD LINKS” SECTION IN 

RIGHT HAND COLUMN. START YOUR JOURNEY FROM 

WHERE YOU ARE AT TO “ESCAPE TO SUCCESS”!

 

 

GOLD GETS A CASE OF THE JITTERS … AGAIN.

 

“Amazing! … I’m in the gold stand waiting on New York!”

The gold market is throwing us all for a “loop” … Asia, for all intents and 

purposes, has fallen off a cliff … there’s no “there” there, and ranges are 

currently in the $1 - $2 range after 11 - 12 hours of the market being open for 

the day … what the hell is this? … Europe comes in and dribbles some light 

volumes through, pushing gold up/down slightly, but nothing really here either 

… and then yesterday comes, and somebody gets their “big girl panties” 

bunched up, and within a few hours we got a $25 buck range from nothing.

And what this means., of course, is now we got New York dictating price 

action, which is analogous to having the fox watch the hen house … yesterday 

saw some absolutely brutal selloffs in that gold rally by dealers, and it makes 

for some not so great trading conditions. “Cuz I’m gonna tell you all right now 

… gold is NOT trading … it’s “lurching”, with zip in between moonshots & 

“Thelma & Louise” … throw in the “slippage candy” from these scumbags, and 

it makes trying to trade this as difficult as I’ve seen in many years … sure, you 

can position it, but that entails much more risk in the equation, and if you get 

caught on the wrong side of a bullion dealer blitz, you have my condolences 

… there simply is no way to know when it stops or how bad it can get … ask 

shorts from yesterday how bad it can get trying to pick a top”.

Today, not unexpectedly, sees gold in a $6 range inside the infamous “Flying 

Wedge of Death” [FWD], with fits and starts going to nowhere … and unless 

the range can be expanded, buying dips in price isn’t worth it, cuz historically 

this will get you mauled as a bigger range is put in … “in order for me to pick 

breaks in price to get long, one of two things has to happen: 1) if higher on the 

day, is it a break in price over $3, along with a bottoming indication on the turn, 

or 2) if lower for the day, are we in fact extending the range for the day past the 

$9 - $10 mark? … inside a bullshit range like today, so far, you don’t have an 

answer to either scenario, and it’s been like this for far too long … well, nothing 

you can do but wait it out”.

Meanwhile, over on the crude blog [ www.traderzoocrude.blogspot.com ], it 

was a “Ka-Ching” day for trading WTI Crude Oil binaries, and the  

“call spreads” in the Russell 2000 stock index [RUT2000] for signals service 

subscribers … while other markets present opportunity, gold notwithstanding 

yesterday’s action, trades like oat spreads … and all with far less risk than 

presently enjoyed here at Turnkey, where we have to put up with scumbag LP’s 

and all the shit they bring to the table every day … which is “scumbaggery” on 

a scale to heights most people wouldn’t believe if shown. “Everybody reading 

this blog today … right now after your done here … needs to go over to the crude 

blog and read what’s going on over there, and what I’m doing in the signals 

service … when the light eventually turns to “on” in your head, you’ll flip and 

wonder why it took you so long to finally “get it” … we don’t worry about price or 

where it goes, we let the scumbag LP’s work for us, not against us like here, and 

bank on them being the scumbags they are too take price up/down with abandon 

… cuz when they do, in either direction, we “ring the register” and say “thanks 

scumbags, for doing what you do best” … read about it, and learn … this is a 

much better way to trade, I guarantee it”!!

It’s Noon in New York, we got a $6 daily range, and for the last 5 hours gold 

has been in a $4 - $5 range from the tips, right along with spikes from hell that 

start and go nowhere, with not a “Hoover Dam” thing going on except chop. 

It’s the Friday before Christmas Eve on Monday … “please tell me how many 

traders are interested in gold as we head for a 4 day weekend, with the trade 

coming back next Wednesday? … right, about 3 people and 10 banks … good 

luck with that”.

No trades today in the PAMM, but some attractive options positions opened in 

the C2 options signals service in GLD. 

Sunday night sees a blog update post, so I’ll be back then … until Sunday mi 

amigos … Onward & Upward!!

Have a great weekend everybody!!

-vegas

OUR TURNKEY FOREX “PAMM/MAM” IS OPEN AND

OPERATIONAL, AS WELL AS OUR C2 OPTIONS ADVISORY 

SERVICE.  DETAILS IN “DOWNLOAD LINKS” SECTION IN 

RIGHT HAND COLUMN. START YOUR JOURNEY FROM 

WHERE YOU ARE AT TO “ESCAPE TO SUCCESS”!