The first month of the year has flown past. A 3.95% gain and beating the S&P500 is nice. I will be happy with a high single-digit gain in 2026. I think a correction of some sort is inevitable and will give me the opportunity to deploy some spare cash or even CPF-OA.
Silver
The last trading day of the month was significant with a 25.5% one day correction in silver. Which to me seems totally reasonable since Silver prices had gotten out of touch with reality. With the amount of derivatives out there, who knows whether there was a 'pump and dump' performed by hidden actors, especially since commodities are traded on different exchanges and under different regulators.
Can day traders beat algos?
I'm always on the lookout for investment books to borrow at the NLB and came across this book Flash Crash. Highly entertaining (I have already read Flash Boys and Dark Pools, also available from NLB and highly recommended) look at HFT and algorithmic trading, in this case, spoofing of S&P e-minis. Hence I wonder if the recent Gold/Silver price moves involved predatory algorithms (now powered by AI) trading with each other.
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