O/T New 2023 Bullion mkt POST

[morganman]

1-8-2023 Metals seem to be strong with Gold $1885 & Silver basis Mar continuing
$24 plus, after many sell off's below $24. $25 next resistance then wave #2
tougher at $30 which if held could open pandoras box to much higher, especially
if Gold could maintain $1900.

China central bank buying more gold and their inventory reaches 2000 ton
Others are following china footsteps which is positive for 2023
Some experts predict $3-$5 k Gold but neglect to guess a timeframe
which could be a gazzilion yrs LOL

Im laying back watching my options in silver doing well with my Crude options
gettin clobbered, still making some bucks but look real vulnerable to downside,
after the 1st yr mkt rout which saw futures lose 9% in 2 days, now healing a bit
but still very weak, as i lost some 60% of my equity profits on the rout.
If i survive maybe i will take profits if Crude recovers a bit heres to hope

With my stops at least i will make some money and not lose orig investment
The typical ups & downs of futures trading.

[Longstrider]

Still going in the right direction.

[morganman]

Jan update- After crude taking a huge hit this 1st days of 2023, I was still alive with a
small profit, thanks to my stops in place on options i have. As i had plenty
of time before expiration, i decided to see if the mkt overdid to short side
Sure enough the mkt started gaining and today went up 3% for a total 5.7%
in two days. My options spiked to better than before the rout so i moved my
profit stops up tighter to protect a nice large profit. I am very leary of this
messed up mkt, so will keep stops kinda tight in case of a downturn, as
taking a nice profit sooner than later would not hurt my feelings

If i stop out with a handsome profit i believe i will not re enter mkt as to
many mixed signals within this super fickle mkt.

I may do about the same with my silver options as $24 + seems to get
clobbered with profit taking each time. $24 basis March has been made
at least 8 times only to be crushed each time, so keeping stops tight as well
might be best plan. Im guessing these mkts want me out as their both a mess
LOL LOL

[morganman]

Wed Jan 18 2023 A. M.

Now this is really super crazy- I was short both Gold & Silver going into last night,
with sizable paper losses as both continued to go higher. Stops in place im gettin clobbered
I knew i was in wrong direction but convinced mkt way overbought and correction due, so
try to relax and suffer through. At 170,000 paper loss my ass is feeling the pain and im
questioning my self deeply but the stops are set quite a ways from mkt, so i hang tough

Golds banging around $1922 & silver $24.50 or so. Im coming off a huge Silver & Crude
options wins so im trading with mkts money, so to speak, sitting watching mkt clobber
me bad. Its very late PM so i decide to rest my eyes and take a break and return in 2 hrs
Trade volumne in gold was getting weaker, so i thought i may have a chance, but knew
i wasin wrong direction overall. Very restless i set alarm for 3 hrs later and slept until
clock woke me. Nervous i opened computer to see gold $1911 , $11 oz less than 3 hrs ago,
and 170 k loss was now a $70k win, so the watch was on, as gold continued to lose value
At $2005 gold and almost $270,000 profit i decided $1900 support would probally hold as
dollar was weaking, so i pulled trigger, taking huge profit and reversing my position to
100 contracts long, (betting to go up)
As of this post, amid a sleepless night my beloved gold held support and has moved to
new highs around $1932 which puts my $1905.50 long position in profit almost 300k
Moved stops to protect 225k and well see what happens

Unreal volatility of around $6,000 per contract from High to Low and back to high again
overnight trade & A M Crazy- and i have really beenin the grove and it feels awesome
Watching close as i will take profits on weakness, by way of my stops

[morganman]

Gold mkt moves into fast trade in profit takings stopping me out of mkt and
my long positions, securing 225k profit crazy

[Longstrider]

Scott, Way to go. I THINK I am starting to get this crazy language and understand what you are doing. It is interesting for me. I can't imagine how you are getting any sleep. Carry on Buddy.

[morganman]

t are super volatile and swapping directions from resistance (going up) & support (going dwn)
Even with stops its mighty stressful when big money at stake

[morganman]

Sun night 1-22-2023
Very frustrating as Gold hits new highs $1940+ and Silver lags way behind
go past $24 and retreating again to around $24. Stuck in mud i call it.
Talk about patience needed-seems like a lifetime of nothing happening.
All the U S negatives, yet Silver not performing, leaves one suspicious if
silver rallies are sustainable.

Im to deeply invested in silver bullion to quit now, so like silver guru David
Morgan says, patience my friends, its coming. Platinum is trading $650/700
cheaper than Palladium at about $1060, so sure looks cheap and David agrees.
Im outta all futures and options with my physical silver and platinum bullion.
With bank acct looking pretty great, im happy to sit on sidelines and watch.

[Kurt28]

I heard some where that gold moves first, but silver moves farther. I can see some reasoning behind that assertation. As usual I could be all wet, but my concept of the uses of gold is primarily for international settlements of debt, and jewelry. With the current saber rattling, I perceive an increase in demand for gold for the purpose of international settlements. If economies turn sour, the demand for gold jewelry will decline, but that market is lesser in scale. An emerging demand for gold will come from oil producing countries demanding gold in payment. Nixon's petrol-dollar is dead. Actions against Muamar Qaddafi and Saddam Hussein were clear indicators of how the US felt about anyone rejecting the petrol-dollar as the basic world currency.
Then comes the silver, which I believe is undervalued. Not only does it have a great industrial demand, but is more likely to be purchased by individual with limited resources. Silver, unlike gold, is consumed. It goes into an industrial market that makes chemical catalysts, medicine, solar panels and electronics.
With metals, I'm not a speculator as much as a stacker. And I'll not cash in on silver until market prices exceed those driven up by Bunky Hunt. Gold much longer.
For those of you that can make profits on shorter term holdings, my hat is off to you. I hope that someday I may join your ranks.

[morganman]

Mon AM- 1-23 Dollar gets rebound past 102.00 and dive with silvertaking a brutal $1.00-$118 beating
Gold losing about $10 to around $1926/8
As silvr couldnt hold $24 for 2 weeks now,any sign of weakness being sold steadily
Sure sets mkt back hard and puts the mkt in Oversold area
Now $24 becomes resistance while $23/22.50 support

damm glad i took profits last week and did not re enter mkts

[morganman]

Brilliant or IDIOT; Thinking silver oversold and dollar rally to fail i saw Mar silver hit $23 +a bit below,
so i decided its time to take a calculated shot/risk and enter the mess

Went long Mar 2023 silver futures $23 with trailing stops $22.48
So one contract lost $6000 value or $1.20 this am, which is overdone
and seemingly way to early in trade session i hope. LOL

Before writingthis post a quick peak shows mkt $23.22 which is way cool, but
long day to go before close. When youtrade as many contracts as i do the
equity or loss adds up super fast.

Crossing fingers on this one

[morganman]

OH MY FREAKIN GOD; Just finished prior post and pulled up my new mar silver positions to stare
at mkt of $23,41 which shows me a 41 centper oz paper profit of $200,000 +
Never had one like this, lightning speed- fast tract mkt

Called broker verify and yep- were golden it seems
IF it all holds i am a self appointed GENIUS LOL
Going now to monitor this mess and likely raise stops if mkt holds

[Longstrider]

Scott with the Midas touch.I think I may hate you. No, I like you. WTG! Are you long?