Head Fakes
Elevators and StairwaysThe Name of the Game
Get Your Vig
January ES Charts
January Jitters
January prices rose up and down as did the temperatures across the country. Silver and Gold took center stage, with a tumultuous ending that probably shook out many of the early monthly buyers or left them deeply underwater when Circuit breakers “failed” (Ha!) (Left click on charts to enlarge them.)
Risk and Reward Trading
Gold and Silver’s Epic Fail: The Panic and “No Bid” Chaos of January 29, 2026
On Friday, January 29, 2026, the precious metals market witnessed one of its most dramatic collapses in history.
After a blistering rally that pushed gold beyond $5,600 an ounce and silver to a record $121.78, the bubble burst in a frenzy of panic selling. Gold plummeted more than 12% intraday, its worst drop since the early 1980s, slicing through $5,000 to hit lows around $4,852.
In physical markets, dealers reported “no bid” conditions for retail silver, refusing to buy back at any reasonable price amid the panic.
Speculative fervor, driven by AI and solar demand, had compressed the gold-silver ratio to historic lows, but the reversal exposed the fragility of the surge.
Analysts warned of bubble-like dynamics, with silver’s 298% annual gain unraveling in hours.
For investors, it was a gut-wrenching reminder: euphoria can flip to fear overnight. While some view it as a healthy purge, others eye manipulation or forced liquidations. Precious metals’ volatility reigns supreme—January 29 etched that in stone.
Our Edge
Sell Greed, Buy Fear
“The Trend is our friend, until it comes to an end.”
“Trees do not grow to the sky”
