O/T METALS MARKETS

[morganman]

Updates 3/30- April 2023

Falling US dollar, Banking crisis issues, Ukraine, & many more
various issues, help GOLD pass $2,000 then some profit taking
as $2000 oz now resistance with $2060 key overhead resistance
Silver makes $24+ today with $25 a key resistance which if reached
and holds provides for open door to further gains.

Silver has gained about $3 + per oz in about 30 days which
accounts for $15000 per futures contract increase of value
So at $24 oz a 5,000 oz futures contract is worth $ 120.000.
Investors love futures trading as thehuge leverage can make
huge profits, but also huge losses if on wrong side of market
This leverage is why its imperative to trade using STOP LOSS ORDERS
or DONT TRADE PERIOD

Amazingly Top Stock Brokers as well as commodity Brokers,
for the most part, do not use STOPS TO PROTECT clients money
This incredible lack of disipline leaves the Poor Investor simply
gambling with their funds that was supposed to be deemed a
investment. Lazy people taing the easy fees or commissions
Beware of advisors/brokers who say it ot necessary to use Stops,
as these are the idiots who will help you lose you ass in mkts

Longer term metals gurus-LOL-point to $38 oz silver which
is ok by me, as im profiting on my physical holdings but not
very much, going back some 4 yrs with some.' Hope to see
$50 silver again before i croak LOL

[Longstrider]

Scott, How many Oz. are in a single silver contract? Same question for gold. I'm making sure my stock company users Stop Loss orders. Thanks Buddy.

[morganman]

A silver futures contract is 5,000 oz and Gold contract is 100 oz
Part of learning to trade is getting to know the size of various futures contracts

Example- Crude oil = 1,000 barrels
42,000 gallons- gasoline
5000 bushels - Corn,wheat,soybeans
30 tons- Cocoa
37500 # - Coffee

Every contract size X the price= Total contract value 1 contract (one)
Example- Crude oil at $70 barrel X 1,000 barrels = $70,000 i contract
Talk about leverage- Say one contact costs to trade is $2500 - you must have
$2500 minimum in your brokerage acct to be able to trade 1 contract
the trade calls it posting MARGIN - If your Margin in acct goes negative you are
put on a margin call to put more money in your acct or liquidate the position
Stops prevent a trader from EVER receiving a Margin call, which means you are
not playing by the rules- if on call Being or receiving a brokerage margin call
suggests the trader is un aware of how the system works and under funded

I realize i bring up stops a lot in my posts, because they are the backbone to
the trading business, so that the trader protects from financial ruin, yet tons of
brokers dont provide them to protect their clients money Like a total crime IMHO

Happy vam picking and lets hope silve price escalates as Morgans value increase
as our Morgans contain .77 oz of silver. Silver at $50 put a junk Morgan dollar worth
$38.50 /conversly $20 silver translates to $15.40 Junk Morgan value

[morganman]

My post said COCOA contract 30 tons- should have been 10 tons
Didnt proof read before hitting post button LOL

[Longstrider]

Thanks. Knowledge is power. I am going to be checking my financial lace to make sure they use stops.

[morganman]

New Month/New Quarter 2023

With all the underlaying fundamental reasons for Gold & metals to rise in price,
along with super strong Technical indicators {chart patterns), metals bulls
and bears are really fighting it out, but Gold finding strong buyers on dips seems
to indicate very strong bull camp moving forward.

Gold continues to breach $2,000 and it seems a matter of time until we see $2,000
gold in the review mirror. Silver is trailing natrually, but $25 is major resistance not
far away and $30 a huge 3rd wave resistance which could take months to see
Silver guru's say $38 is main target???

I'M pretty content with my core silver holdings, as im beginning to see real serious
paper profits/equity. Profiting around $3 + per oz on lrge volumne makes for
a Happy OLD Geiser. I have paid the price of admission as my holdings go back
4 yrs and until recently the gains have been dismal & worse, so HURRAY, I seem to
be out of the snowbank with sun starting/trying to shine upon my position LOl

[morganman]

Hooray for us hard money believers; Fiat currency issues continue to be large issues in US & Europe
with confidence dropping in polls to lowest levels in yrs.

So as internet fraught with Banking crises every day for 2 weeks, the trade had heard enough and pressed
Gold & Silver past overhead resistance points in super bullish fashion. At this am Gold around $1027 & silver
$25,10 - a solid 87 cent per oz gain.

I will simply watch this all unfold and monitor to see if i need to take any actions toward end of day to
protect huge profits by way of beloved PROFIT STOPS. My stops are in place but moving them up to protect
dollars gained seems prudent, just want to see how mkt holds, as i dont want to place stops to close to the
market and get stopped out, only to see mkt advance further with me not there. All in the game of trading.

Some here say i talk money a lot- Damm straight as its a challenge to make and darn fun, so for those who
dont like my money posts, go back to work and be sure to punch the time clock. LOL, AND SIMPLY dont read or
answer my posts negatively. Thanks

[Longstrider]

I'm a proud to say I read your post. I have learned a lot. I don't know enough to act alone on them but I now know some educated questions to ask my money guys. Thanks Scott.