I'M A BUYER LOOKING FOR UPTICK IN METALS MKTS

[morganman]

Gold got clobbered from $1960 highs to yesterday around $1830, so passed thru 50 day moving
avg $1850 to become quite oversold, as investors on sidelines looked for value entry points
As sellers gained control, which pushed Gold down through 3 suport levels, in typical wave support
fashion, astuit investors waited for the short position holders to begin taking profits and exiting, thus
having to go long to exit. This is where mkt bulls take advantage and enter long side in oversold mkt

I followed in buying GOLD/SILVER/PLATINUM commodity options to the tune of a bunch of bucks,
as i believe my risk is low with potential of high rewards. Placing stops on all positions which takes
out the stress associated with market volatility, and sets my trading plan into motion.

As in past if i make money i typically invent profits into physical bullion as its a darn good savings
account to have, liquid and non taxable if done using non reportable denominations
If i lose money, it is simply re flected on tax returns,lessening my tax burden

At 68 i enjoy trading, as much easier and less time consuming than trying to do coins or
other investments, which are not easily liquidated. Just today sent a pot full of coins to heritage,
and working on even more which are nice vams to consign for upcoming vam sale/auction

This mkt post to hopefully help a member/members get a drift of open mkts and trading, if but
only some trading lingo , or better yet to keep someone from making huge money mistakes by
NOT using protective money Stops then Profit Stops when applicable.

Happy Vamming/Collecting/Investing

[UNCLE BINGO]

Scott, please share the auction lot number from heritage when you figure out the details . always looking for stuff , ya know

[mark]

Nothing about VAMs here. This page is for selling VAMs not updates on the metals markets.

[UNCLE BINGO]

this seems silly to me , if he is legit , let him speak , if not , as most of you claim then so be it

[Longstrider]

@ UNCLE BINGO Hell yes. Personally I appreciate Scott's incites. I know now that stops are crucial. If one thinks he is full of it, don't read his stuff. Simple. Thanks Scott. I have enjoyed the Morgan VAMs I got from you. That's right, I have some Oregon Collection VAMs. I guess I am insane.

[mark]

Some of are trying to sell coins here and it pushes our listings down the page.

What is he trying to sell? What is the commercial nature of the post? I guess I won't bother posting here anymore since metal market updates are more important.

[UNCLE BINGO]

sorry man . i thought he said in his post he was shipping a lot to heritage ,,,,I guess he could put these posts down in the testing thread , that might help everyone find a compromise. hint , hint

[mark]

Sorry, after he told me to repeatedly messaged me to go fuck myself I don't think there will be any compromise.

[UNCLE BINGO]

maybe there is no fixing this . I have just seen this kind of stuff destroy these message boards before .

[Kurt28]

I'm not sure I understand the problem.
A discussion about metal prices, past present and future, is a logical extension of our collective interests. After all, I did not see any objections to other topics that were not VAM related.
Threads have been posted concerning the structure of the mints, the employees and engravers, the machinery employed, legislation involved and the distribution of the coins.
Other threads have been posted on Third Party Graders that include history, fees, turn around time, artistic evaluation of the holders, collectability of the holders and credibility of the TPG.
Then we have accepted with open arms discussions of coins that are not Morgan or Peace. Trade Dollars, Halves, Buffalo Nickles and assorted others. Plus Carr coins and new pseudo-coins in the form of eagles.
And could anyone suggest that threads on collectible shopping carts were VAM related?
None of which I objected to, and in fact I enjoyed learning from the posts.
And if you think an honest discussion about the metals market pushes your advertising down on the list, it might be because no one is interested in your advertising (via Pat aka PeaceVamJunkie) .
Personally, I enjoy a discussion of the metal markets. And am learning.
If you don't like it, don't read it.
But if you think you should be able to silence another man's views just because they make you uncomfortable, you are no better than the mean girls in high school that choose someone to pick on.

Well... I guess I do understand the problem.

[keilg1]

Amen, Brother @Kurt28, amen.

I'm tired of people reacting uncivilly to things that brings joy (and growth) to others. And complaining about things without offering up solutions.

One from me: If you're trying to sell something here and your post starts getting relegated to the bottom because of new posts, simply "bump" it to the top by adding a reminder or additional information. No need to demean or belittle anyone in the process.

[Longstrider]

@Kurt28 @keilg1 Well said. It just baffles my mind what is going on here. Just don't read what pisses you off.

[mark]

I'm not sure I understand the problem.
A discussion about metal prices, past present and future, is a logical extension of our collective interests. After all, I did not see any objections to other topics that were not VAM related.
Threads have been posted concerning the structure of the mints, the employees and engravers, the machinery employed, legislation involved and the distribution of the coins.
Other threads have been posted on Third Party Graders that include history, fees, turn around time, artistic evaluation of the holders, collectability of the holders and credibility of the TPG.
Then we have accepted with open arms discussions of coins that are not Morgan or Peace. Trade Dollars, Halves, Buffalo Nickles and assorted others. Plus Carr coins and new pseudo-coins in the form of eagles.
And could anyone suggest that threads on collectible shopping carts were VAM related?
None of which I objected to, and in fact I enjoyed learning from the posts.
And if you think an honest discussion about the metals market pushes your advertising down on the list, it might be because no one is interested in your advertising (via Pat aka PeaceVamJunkie) .
Personally, I enjoy a discussion of the metal markets. And am learning.
If you don't like it, don't read it.
But if you think you should be able to silence another man's views just because they make you uncomfortable, you are no better than the mean girls in high school that choose someone one to pick on.

Well... I guess I do understand the problem.

Give me a break.. this does not make me uncomfortable. It's just irrelevant to VAM's which is what this site is supposed to be about. I won't bother replying anymore so post away.

[morganman]

Mid Feb 2023 Update: Metals mkts continue to struggle in terribly oversold
conditions, as U S dollar gains strength then falls yet
again, struggling to find short term direction in a
already downtrending direction. Statements from Fed
on interest rates also apply pressure.

No new dramatic news either way has traders simply
trading off recent highs & lows, typical of all mkts.

I am positioned Long with Gold,Silver, Platinum Options
which looked ok when placed but turned south over
one weeks time, and im losing a good deal of money
on paper, from my premiums margins i put up to trade
a shit pot full of contracts. With my trailing stops set
i am committed to simply ride it out and hope mkt
does not stop me out with losses.

Gold dipped past $1850 50 day moving avg and
has moved toward $1800 around $1830 which is
way oversold and negative. Silver did same and
dropped below $22 which is feelingthe pain as Gold
is, and i am as well. This is what trading is all about,
simple Money Management with trailing Stops that
ensure a pre determined risk, so one can live to trade
another day. If you cant handle the heat, stay outta
the fire.

Most all traders are only right on mkt direction 50%
of time, so Stops /Money Management is imperative
if one is to survive. unfortunately few small traders
spend enough time to learn about Stops/Resistance/
Supports thus losses mount and accounts decimated
This applies to Both Commodity Futures as well as
Stocks.

Withot a money management in place one is
simply gambling away funds and doomed to fail
Heres hoping mkts turn positive as losing money
is not fun, as mkts humble any Ego you may have.

Will follow up with whether i make or lose one these
expensive options.

[Longstrider]

So Stops are crucial. Thanks Scott and good luck to us all.

[mark]

Triple top on the gold chart is not your friend. Gold will probably retreat to low 1700 levels IMO..

I'm personally buying stocks since most are way more oversold than gold/silver.

Don't believe this will have any impact on VAMs though.

Gold chart.jpg (66.36 KiB) Viewed 508 times

[chgolaw1]

Hi everyone. Is there a reason that PeaceVam Junkie was mentioned on this thread?

[morganman]

The triple top gold is very scary to Long position holders for sure
This AM im getting clobbered more with 70k PAPER losses on my options
Only positive is mkts way OVERSOLD and due for correction
If i get closer to break even on a bounce i might just reverse directions
Not sure just yet - Worst trade ive done in months-Im hanging tough

[Kurt28]

chgolaw1
"Is there a reason that PeaceVam Junkie was mentioned on this thread?"
Yes. Just shooting from memory, about 10 years ago Pat made some suggestions on posting in the discussion page of VAMworld 1.0. And one of the comments he made was something to the effect of "people may not be responding to your post because it is not interesting." It stuck with me, and I did not want to plagiarize.

[morganman]

3-8-2023 Metals took a dead cat bounce in oversold conditions about a week ago.
My paper losses became about 1/2 of where they were, so i took losses on all three
Gold, Platinum & silver options positions, and because of severe mkt weakness,
i reversed from long to short position commodity option PUTS, now betting on mkts
to fall in price.

As of today the mkt has really fallen and my new PUT positions are making up for
my prior losses and more, so bailing out was a prudent move. Because im showing
nice profits im covering my prior losses plus a fair profit, using my profit stops on
all positions. If i would have stayed long i would have been losing about $150k +

instead i lost 37K and now protecting 75k in paper profits thus far. Again money
management the key using STOPS. Where we go from here is anybodys guess
I said earlier i would update if i made or lost money so thats it so far.