WELCOME TO TUESDAY’S MUD

 

“Oh, it’s deep all right!”

Today’s ranges in FX could have been worse, had it not been for the well 

placed horseshit headline from the BBC about Merkel supporting some Irish 

backstop gizmo she’s never supported … it was quickly shot down by Berlin, 

but the 30 PIP damage to the upside in Cable cemented the top for the day, 

and it’s been all downhill ever since … but hey, on the bright side some 20 

something gets to go to a Benz dealership and pick out a shiny red one, 

courtesy of another mistress fund escapade.

Other than that, complete horseshit trading conditions across the board, 
except for a brief rally in gold, as the scumbag dealers there roll the rock 
back up the hill to shitcan it later at their convenience of course. WTI crude 
oil sees another pathetic day of trading under its 20 Day Range MA, while 
finding a way to move higher consistently on overnight vapor ramps … can 
somebody say Saudi manipulation?

The call spread premiums last night surprised, coming in “cheap”, but the 

kicker is that today offers little movement expected within NADEX call 

spread hours, before they expire … so, a little deceiving here, and sure enough 

all we’ve seen most of the day is short term stop hunts from the scumbag LP 

bank crowd in Cable as well as everything else … GBPJPY call spreads would 

have made money, GBPUSD call spreads either lost money or came close to 

scratching, and EURJPY a clear loser.

Here in mid afternoon New York, Cable trying to press lower, but facing very 
tough sledding into the 1.30300 area … as I said over on Traderzoogold, this is 
week 4, inside a weekly candle, with support at 1.2960 area and topside 
resistance at 1.33810 … until one side or the other is taken out, Cable looks to 
be a bucket of shit, from a trading perspective. I would expect an eventual 
breach to have some legs.

Well, won’t tomorrow be interesting … we await tonight’s open … until 

tomorrow mi amigos … Onward & Upward!!

Have a great day everybody!
 

-vegas

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