The overnight was not friendly to metals; I was already out of the gold at a small profit. The Silver contracts went under water (approx -$400), a long long way down from the position high (+$3200). I had decided to get up for the pit open (5:25am pacific time) which shows a surge in volume, and, sometimes, closes some of the gap between their close and the overnight prices.
The pit opened pushed the price up quickly. Within a minute, I sold the two contracts @12.03, for a small profit.
I’m still a little skittish in these markets, and today was an example of seeing a little downward pressure in the overnight market and getting scared.Silver, for instance, is up .05 from where I sold it as I write this.That said, it would have reached my “regular hours” stop price before now, anyway.
Still, when one is skittish, it’s probably best to trade light – ie, fewer contracts.
