Bullion Markets Update

[morganman]

END Nov 22/ into DEC
Markets weak due to options expirations and U S Dollar re gaining some
from recent sell off to around $106, which is still a very lofty level.
Silver just hovering above $21 after hitting $22 ++
In retrospect, a very boring nothing mkt, however the silver drop from
$22.40 to $21.10 equates to $6500 per contract for traders to take profits
.. on short positions entered a few short weeks ago.
Traders making money selling into rallies has been the norm for several yrs
My call options are still making money but much less than when silver
rallied past $22. This is why i kept my Stop Loss Orders in place on my call
options, so as not to get stopped outta mkt.


Sucks, as one feels like wasting time in a mkt doing nothing, however is
a strong sign of a larger impending move. if feds only raise int rates by
.50 basis pts in Dec, it will support metals prices. Overall, trying to call the
direction of these metals mkts is a crap shoot at best.

Im reserved to be very hard headed with respect to my call options
positions, as i will hold em until i see something more substancial
equity ways. Sit down, shut up, hold on and only punt when really in your
favor. LOL

[Longstrider]

Yep. I'm going to continue to sit on my hands and keep my mouth shut. Thanks!

[morganman]

Fri dec 2, Very volatile trade session in metals. Gold had around $5,000 trade range per
contract with silver closing well over $23, propelled by weak dollar but sellers
appeared early due to strength from employment figures.

Personally im loving this setup as my Call options really jumped in equity,
to levels that are nicely substancial, so i decided to move my profit stops,
thus protecting a substancial profit on my Calls. Sure takes the pressures out
of trading, and makes for fun times, as one sits back and watches.

Silver has no major mkt resistance until $25, so lets hope traders push this mkt
toward that figure in sessions to come

[morganman]

Dec 5 Update: A review of the under workings of the metals markets.
A tried and true gauge of strength or weakness in metals,
is directly tied to the U S Dollar index, which carries the most
weight for determining metals mkts direction.

So to put recent U S DOLLAR moves into prospective we need
to analyse the USD commodity contract recent mkt moves
The dollar hit a 25++ yr high of 116 + change with 71 being a
dollar low yrs ago. So now the dollar has dropped to $104 &
change which is a 1200 pt loss at $10 pt or $12,000 per contract
Thus falling thru 100 and 200 day supports.

With this weakness the trend looks likely to continue making
our dollar worth less as it plumments. A long term projection
equals high 116 + Low 71= 187 divide 2= say 94 which is 50%
long term retracement off 116 high. That takes another $10,000
per contract off value, which in total off 116 high would be $22k
per contract , which is a huge huge hit to economy & financials
around world, which will and is making ordinary working citizens
struggle as costs of everything increase faster than wages etc

Any folks holding hard assets like Gold/metals should see
huge appreciation, but this time around could be somewhat
different as worldwide, people have much less expendable income
The impending housing downturn just makes all this much worse.
Hold on, its likely to get nasty and much worse around the corner

Cash will be even more King IMHO

[morganman]

Opening night trade 1-2-2023 The 1st session night trade of 2023

Metals open much higher with a volatility Bang, then quickly retreat as computer models
send sell signals to capture nice profits from run higher.
Silver ended year at $24.20 basis march 2023 futures and opened 1-2-23 $20,64 or .44
higher which is $ 2200 per contract higher than previous close, so profits are taken
immediately to sell off march to $24.28 or so. A huge quick profit made for large &
institutional traders including Fund players

Going to be interesting to see where we go from here, probally dependant on U S Dollar
2023 opening trade. $25 silver march still overhead resistance, but mkt is making higher
highs & higher lows , so pointed in upwards trend. Seeing silver at $30 would see my acct
equity for my options increase to abut 1 mil, which would make this Morganman's face
pretty dang happy. Who needs a job with numbers like these. LOL

[morganman]

My purchase of a total of 340 oz of platinum bullion 1 oz is progressing exceptinally well
Gaining almost 30% in a few short months, i am happy to lay back and keep it under
secured un disclosed location, as i believe price will approach $1500 oz in 2023
Has gained $ 300 + in a few short months as palladium became to spendy for converters
topping at $2300 and now $1800 + change, with platinum replacing some of that premium

Im a seller around $1500, not to get to greedy, so monitoring will be the play

[Longstrider]

"secure undisclosed site". That's pretty one way of you. hahah!

[morganman]

1-2-2023 Wow the mkt in silver & especially Crude oil took a real S only 1 trade day
after gold & silver posting 7 mo highs. Crude also took a real crushing with
the China Covid news, amid expectations for lower usages. People dying in
hallways as no beds etc, and even then China pissed because U S requires
proof that each U S entre is covid free.

My profit stops proved successful as the 2 above mkts tanked, but my stops
survived and now both mkts are seeing a jump from nasty selloffs, so yet
more vindication for using stops at every step of way while trading.
I call all this "Living to Trade another Day", as im thankful to still be in the game,
which would have wiped most traders asses for em. LOL
This is why i have survived 35+ yrs trading in this cesspool of volatility, with
my winning trades about 55% and losing about 45% Key is to minimize losing
trades and allow winners to run. treat this like a religion/dedication and you
will live to trade another day

[UNCLE BINGO]

1-2-2023 Wow the mkt in silver & especially Crude oil took a real S only 1 trade day
after gold & silver posting 7 mo highs. Crude also took a real crushing with
the China Covid news, amid expectations for lower usages. People dying in
hallways as no beds etc, and even then China pissed because U S requires
proof that each U S entre is covid free.

My profit stops proved successful as the 2 above mkts tanked, but my stops
survived and now both mkts are seeing a jump from nasty selloffs, so yet
more vindication for using stops at every step of way while trading.
I call all this "Living to Trade another Day", as im thankful to still be in the game,
which would have wiped most traders asses for em. LOL
This is why i have survived 35+ yrs trading in this cesspool of volatility, with
my winning trades about 55% and losing about 45% Key is to minimize losing
trades and allow winners to run. treat this like a religion/dedication and you
will live to trade another day

Now all you have left to do in life is somehow to teach people from California to NOT drive 64MPH in the fast lane