Friday NY Globex High Was $48.043

Here is an account from a trader confirming silver hit a high of $48.04 on the Globex market Friday night.


All this discussion of where was the price of silver on Friday because of holiday closings, the details:
I trade Forex. Within Forex trading there are 2 metals contracts you can trade. The XAU and XAG. These are dollar/gold and dollar/silver.

I gave up on currency Forex trading, and just trade the XAG. The XAG is a monster. It is 50 to 1 leverage. Contracts are 500 ounces. In theory you can trade 500 ounces of silver (at $46 say) for a few hundred bucks in your account. (things have gone so crazy, i am unsure of the math at this point)

Anyway, the way to trade this is no more than 1 contract of XAG per $1000 in your account. You can stay alive and make money with that rule.

Today, friday April 22, I had a limit order in to sell 1000 ounces silver at 47.56. Someone hit that ask (bought it from me). Subsequently, there was at least one trade at $48.043. (tenths of cents are used).

That is where silver traded today on NY Globex. there were other trades as well, all between 47.5 an 48 I think.

So, Sunday at 6pm eastern, the metals start to trade. Where the XAG opens will be interesting. I think, it opens at $47.50 or so. BTFD within minutes is my guess. This is the short crushing parabolic move that we are expecting. The blowoff intermediate top. $55 to 60 is the likely top on this move , then a pullback. Scary stuff.

Leave a Reply

Your email address will not be published. Required fields are marked *