[Note: One is quite fortunate in life to have a mentor or mentors, and more fortunate yet to recognize them. A favorite and beloved 'mentor' has requested 24-font, so that will be SOP when I bcc: him on my rantings/musings or however he may characterize what I inflict upon him from time-to-time. This SOP remark segues neatly into today's stating the obvious.]
For years it has been Standard Operating Procedure (SOP) for the Cartel to paper-raid and smash Gold and Silver on-and-around the NFP release the first Friday of the month.
- Unsurprisingly* with only four days to go to the big election 'beating expectations' was the very transparent order of the day (never mind that the numbers will be quietly revised closer to reality later on, a 'great' headline number was obviously required today), even if the 'longs' had to take a beating.
If it ain't broke...this SOP has worked so well for the Cartel they see no point in 'fixing' it. It will work, until it suddenly doesn't.
- Only then will the 'fixed' game be fixed.
Today's anticipated waterfall raid (a continuation of yesterday's) is just the Cartel's effort to trigger stop-losses and scare the Muppets.
- It has nothing to do with ground-truth or fundamentals.
*I had my calendar marked in advance for Cartel paper-raids yesterday and today, while the 'regulators' at CFTC did too....only their calendar was noted: HawaiIan shirts, sunglasses, free donuts - casual Friday. I think I'll send them a copy of my commodities calendar (Same Sh*t, Different Day).
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