ES Trading

[new_trader]

Diary of a trade

No stops hit, new position added.

Status:

Position Size: 48.0%
Profit Target: 1.428%

GC: I don’t believe accumulation is complete, so I will be watching to see if prices are supported at higher prices but I am expecting it will retrace back into the 1180 – 1190 range. This will most likely happen after the jobless claims are released on Thursday. It could happen after the FOMC minutes are released, but I don’t think the FED has anything new to say. If instead gold rallies then I will be looking for prices to be supported in the 1211-1226 range (See attached figure chart from Week 20[2015]).

As I have previously stated, the tape is indicating that the important move will occur after the FED meeting in June 16-17.

As always, do your own figuring.​

ES @ 2124.75
GC @ 1207.0






52,044

 

[new_trader]

Pavlovian 'Capitalism' clichés

I agree with you that socialism does not work but that is what we are going to get unless capitalism comes more to the centre.

Capitalism is so greedy. Unions only exist because of it.

"Capitalism is so greedy"

You will rarely hear/read anyone say, "Entrepreneurs are hard working", or "Entrepreneurs are rewarded for the sacrifices and risks they take"...

Nope, apparently for some, "if you are rich, you must be greedy"...

That's what the television told you, right?

This kind of attitude appeals to people who are failures or who haven't achieved much in life. If you are poor it's because you are "Nice", if you are rich it's because you are "Nasty and greedy"

I'm sure that during the next crisis we'll hear the same bumper sticker slogans that were used during the last crisis.

"Capitalism got out of control"
"Not enough regulation"
"Greedy Bankers"

It has to be right because that's what the television told you!

The general public is a moron, so they can only understand simple explanations. Try explaining 'Malinvestment' or Austrian Business Cycle theory to the average person and you will get nothing but vacuous expressions.


People are so stupid!






52,235

 

[new_trader]

Diary of a trade

A small milestone this week as my position size has crossed over the 50% mark.

Current Status:

• Position size: 50.4%
• Profit target: 1.34%

ES @ 2106.00
GC @ 1190.5



53,186

 

[new_trader]

Make them believe inflation is good.

Draghi Deflation Relief Means Little With Greek Threat Unsolved
http://www.bloomberg.com/news/artic...elief-means-little-with-greek-threat-unsolved

With a solution to the Greek crisis still out of reach, Mario Draghi can count on at least one piece of good news this week: euro-area consumer prices are rising again.

Yes, I'm sure that all the poor and working class Europeans are just as relieved as Draghi that their cost of living has risen.

Theories of brainwashing and of mind control were originally developed to explain how totalitarian regimes appeared to systematically indoctrinate prisoners of war through propaganda and torture techniques.

-http://en.wikipedia.org/wiki/Mind_control





53,473

 

[new_trader]

Failure of Keynesian Economics

I keep ‘hearing’ about the wonderful recovery in the U.S economy and that as a result of such strength the FED Reserve will be raising interest rates very, very, very soon. If not this meeting, then most definitely the next, and if not the next, then most definitely the next one, and if not the next, then absolutely positively the next one, and if not etc...

Over 72 months of near 0 interest rates and the US Federal reserve actually thinks just one more month ought to do it!

Remember when Ben Bernanke talked about how important the housing recovery was? It was pivotal to the recovery; the whole economic recovery was predicated on the ‘wealth effect’ generated by the housing recovery. Fanny Mae, a government sponsored enterprise was established to provide local banks with federal money to finance home mortgages in an attempt to raise levels of home ownership and the availability of affordable housing.

Look at the attached chart and see if you can find a recovery in it. Only a deluded modern economist could think Q.E.1, Q.E.2 and Q.E.3 worked. In fact they will argue they worked so well we need Q.E.4!

53,694

 

[new_trader]

Modern economists finally seeing the obvious?

Source: http://en.wikipedia.org/wiki/Bretton_Woods_system


Now, do a search for the following: INCOME INEQUALITY CHART

Look at the trends since 15 August 1971.


(I'm sure the modern economists and Government apologists will ignore the obvious and come up with a convoluted explanation.)

36,060

Fed Policy May Have Widened America’s Wealth Inequality, Philadelphia Fed Paper Says
http://blogs.wsj.com/economics/2015...ealth-inequality-philadelphia-fed-paper-says/

Federal Reserve policies launched in a historic economic slump may have exacerbated wealth disparities in the U.S., according to new research from the Philadelphia Fed

I wrote about this over 12 months ago. The Austrian economists have been saying for decades what the modern economists have denied. Looks likes the guilt is getting the better of them!

A return to sound money would fix this.






54,093

 

[new_trader]

Fiat money and Keynesian Economics

175 Quadrillion Zimbabwean Dollars Are Now Worth $5
http://www.bloomberg.com/news/artic...ially-removes-local-currency-from-circulation

The central bank will offer $5 for every 175 quadrillion, or 175,000 trillion, Zimbabwean dollars, Governor John Mangudya said in an e-mailed statement from the capital, Harare. While it marks the official dropping of the currency, transactions in the southern African nation have been made using mainly the U.S. dollar and rand of neighboring South Africa for six years.

That's fiat money for ya!

The economy plunged into crisis after the government started a campaign in 2000 of violent seizures of white-owned commercial farms to distribute to black subsistence growers, slashing exports of tobacco and other crops. Inflation surged to 500 billion percent and the economy shrank during a near decade-long recession that ended in 2009. Under policies implemented by a coalition government, the economy began expanding and the recognition of foreign currencies as legal tender helped tame inflation. Consumer prices fell an annual 2.7 percent in April, according to the statistics agency.

According to the Keynesian economists, Zimbabwe's economy should have boomed with all the inflation!
Instead, the adoption of sounder currencies tamed inflation and THAT resulted in the economy expanding...do you think there is a lesson in there?

Of course, anyone with a brain between their ears understands that creating inflation with a fiat money system is a piece of cake. It doesn't require PHD economists sitting around a table trying to figure out why inflation is so low and what to do about it...That is all just a great big con, a circus act designed to fool the idiots who believe that low interest rates and inflation result in economic prosperity.






54,199

 

[new_trader]

Here's June!

A journal entry back on Apr 9, 2015, 6:56pm titled "Waiting until June".

IMO: The market doesn't care about jobless claims or Non-farm payrolls or ISM-manufacturing or GDP etc...All the market wants is MOAR CHEAP MONEY!! So they are going NOWHERE until June 16-17 which is the meeting where the FED is highly anticipated to start raising interest rates.

ES: 2077.25
GC: 1194.3

You can see I quoted the ES and GC prices at the time, ES @ 2077.25 & GC @ 1194.3.

Where are they now, over two months later?

ES @ 2084.50
GC @ 1180.8

This is as close to NOWHERE as you can get, just as I forecast! The US FED meets this coming week and this is all the market cares about. This has nothing to to with Grexit, Brexit, Thisxit or Thatxit...all the market wants is MOAR CHEAP MONEY!!

Reading the market action since my April post, I am now of the opinon that the market doesn't care what the FED does in regard to interest rates. The market now wants and needs Q.E.4...and when it comes it will make Q.E.3 look like Q.E.2.

Q.E is like Pringles..."Once you pop, you can't stop"






54,445

 

[new_trader]

No rate rise, no joke!

http://www.federalreserve.gov/newsevents/press/monetary/20150617a.htm

To support continued progress toward maximum employment and price stability, the Committee today reaffirmed its view that the current 0 to 1/4 percent target range for the federal funds rate remains appropriate.

So, after more than 72 months of near 0% interest rates the US economy is doing so well that it cannot withstand even a microscopic interest rate rise! This is turning into a Japan style great recession!

Only an absolute clueless retard thinks artificially low interest rates and money printing results in economic prosperity!

What an absolute joke Keynesian economics is!
​

In determining how long to maintain this target range, the Committee will assess progress--both realized and expected--toward its objectives of maximum employment and 2 percent inflation. This assessment will take into account a wide range of information, including measures of labor market conditions, indicators of inflation pressures and inflation expectations, and readings on financial and international developments. The Committee anticipates that it will be appropriate to raise the target range for the federal funds rate when it has seen further improvement in the labor market and is reasonably confident that inflation will move back to its 2 percent objective over the medium term.

Yak...yak...yak...

More than 72 months now...





ES @ 2086.00
GC @ 1182.5







54,840

 

[new_trader]

Nothing to do with Greece!

I'm amazed at the number of people who believe the markets are responding to the events in Greece! :-0

Greece is INSIGNIFICANT.

The markets are telling me that Q.E.3 is almost all used up and they will need another artificial injection from the money printing overlords at the FED. The market needs Q.E.4.

I will be paying close attention to the action of GC & ES this week, but there is no way, no how, no why that what is happening in those markets right now has anything to do with Greece.

If the ES breaks down into the mid-low 2090's by the end of this week, then I'd say my reading of the market action is 100% correct.


ES @ 2117.50
GC @ 1182.8






55,158

 

[new_trader]

Target hit! Will downtrend continue?

If the ES breaks down into the mid-low 2090's by the end of this week, then I'd say my reading of the market action is 100% correct.


ES @ 2117.50
GC @ 1182.8

ES @ 2095.75 just as I thought. I will be watching the price action to see if this downtrend continues and the market ends up back to where it was just prior to the FED meeting 16-17 June which was 2077.


ES @ 2096.50
GC @ 1172.5






55,465

 

[new_trader]

More Government won't keep us safe

Hi Travis,

I can’t say that I am completely in the “false flag” camp. However, what I have noticed more and more is that the establishment media always has a convenient label for crimes because it fits their agenda. The most recent example is the mass shooting in South Carolina which has been labelled a ‘hate crime’. For the establishment media a crime is no longer just a crime, it is either ‘hate crime ’or‘ terrorist act ’or‘ ‘right wing extremism’.

Politicians will never let a crime go to waste! They always use the opportunity to get on TV and promise to keep us safe by taking away more of our rights and freedoms.


”Any society that would give up a little liberty to gain a little security will deserve neither and lose both.”
-Ben Franklin

U.K. Anti-Terrorism Laws Will Be Well Debated, Government Says
http://www.bloomberg.com/news/artic...ism-laws-will-be-well-debated-government-says

“Because this is about some powers that are very significant, about intrusive powers, it has for example to intercept people’s communications as well as access data about those communications, we want to ensure that we have a proper time to discuss it,”

Was the gunman a terrorist or just a local nutcase? The Government doesn't really care, they will use any excuse to grab more power...More power, more intrusion...no safer! Wasn't this supposed "War on Terror" intended to make the world a safer place? That's what they said when they got rid of Saddam Hussein and Osama Bin Laden...






55,709

 

[new_trader]

Target hit - again!

ES @ 2095.75 just as I thought. I will be watching the price action to see if this downtrend continues and the market ends up back to where it was just prior to the FED meeting 16-17 June which was 2077.

Target hit and more!

This decline has nothing to do with Greece. The market doesn't need a resolution to the Greek 'crisis', it needs Q.E.4, and when it comes it will make Q.E.3 look like Q.E.2!


ES @ 2073.75
GC @ 1177.3






55,814

 

[new_trader]

Trust in gold

Greek banks prepare plan to raid deposits to avert collapse
http://www.cnbc.com/id/102809081

Greek banks are preparing contingency plans for a possible "bail-in" of depositors amid fears the country is heading for financial collapse, bankers and businesspeople with knowledge of the measures said on Friday.

The plans, which call for a "haircut" of at least 30 per cent on deposits above €8,000, sketch out an increasingly likely scenario for at least one bank, the sources said.

Who do you think is more worried right now?

• A Greek citizen who has their life savings in physical gold.
• A Greek citizen who has their life savings in Euros in a Greek bank.

I know this man doesn't own gold!

...Some numbskulls think gold isn't a store of value..





56,212

 

[new_trader]

The real elephant in the room.

A pictures says 1000 words!

ES @ 2062.25
GC @ 1161.5


56,429

 

[new_trader]

This is NOT a joke!

THE ABSURDITY OF FIAT MONEY!​

I saw this on a website and I thought it was a joke until I searched Amazon and discovered it isn’t!

http://www.amazon.com/Learning-Reso...id=1436522442&sr=1-1&keywords=plastic+pennies

If you want to teach your children about the value of real money, then all you need to do is 'invest' US$3.99 and buy 100 PLASTIC TOY PENNIES that are almost as “good” as the real thing.

That’s right! TOY MONEY is worth more than the real thing!

If you want a store of value, don’t buy gold, buy PLASTIC TOY MONEY that’s probably MADE IN CHINA!



56,444

 

[new_trader]

Diary of a trade

Stops hit, new positions added.

Status:

• Position Size: 61.0%
• Profit Target: 0.054%

ES @ 2070.50
GC @ 1162.3





56,578

 

[new_trader]

Political correctness

This video is dedicated to all the insufferable meme loving left leaning liberals who think they can invent a newer, more peaceful, happy, loving, prosperous, environmentally friendly, compassionate, caring, sharing, economic system where nobody is poor, nobody is rich, nobody fails, nobody succeeds and everybody is equal! A Socialist utopia without the Socialism apparently...

"I'm not a Socialist...not that there's anything wrong with socialism!"

56,612

 

[new_trader]

Failure of Keynesian Economics

Oil Dominates Market Story in November as Stocks Advance
http://www.bloomberg.com/news/2014-...rket-story-in-november-as-stocks-advance.html


The current propaganda surrounding the fall in oil price proves how diabolically contradictive Keynesian economics really is, and how destructive the Central Bank practitioners of Keynesian economics really are. The drop in gasoline/petrol prices is now seen as a huge 'stimulus' to the economy because consumers, now paying less for energy, now have more disposable income to spend on other things!

WTF?!?

• Haven't the Central Bankers been trying to terrify us into thinking that falling prices (what they call deflation) is an ogre that must be defeated?
• Haven't the Central Bankers been trying to terrify us into thinking that falling prices (what they call deflation) will cause consumers to "Hold Off purchases"?

ONLY A RETARD WOULD BELIEVE IN KEYNESIAN ECONOMICS!! And the falling oil prices prove it.


The truth, that the Central Bankers will never admit, is that falling oil and gold prices indicate WEAK DEMAND because the world Economy isn't improving but instead, headed for another recession.

Q.E.4 is coming and it will make Q.E.3 look like Q.E.2​

new_trader continues to stack gold!


GC @ 1165.8
ES @ 2066.75

Stocks Slide as Global Growth Angst Deepens; Treasuries Climb
http://www.bloomberg.com/news/artic...l-more-losses-with-markets-bruised-by-selloff

“We have renewed worries about the global economy,” Dirk Thiels, head of investment management at KBC Asset Management, said by phone from Brussels. “We are a bit worried. You can’t really call the bottom of the market at the moment.”

As I said:

The truth, that the Central Bankers will never admit, is that falling oil and gold prices indicate WEAK DEMAND because the world Economy isn't improving but instead, headed for another recession.






ES @ 1928.50
GC @ 1142.5




58,351

 

[new_trader]

10 years ago

10 years ago today, I joined this forum. Always trade with a stop.


ES @ 2035.75
GC @ 1060.5




60,946