Gold is setting up a major short sale right now, if it can just rally a bit more and have the commercials go to the short side, it will be about as good a sell signal as there can be. Gold has never been a hedge against market declines and never will be. Just study what it has done historically during stock market declines. It is in a downtrend so selling rallies is the correct trade. I could care less about his opinion, as a trader his track record is not good even though he has been right occasionally. Remember he was about 4 years early on housing.
SP 500 600 I do think will happen before this decline is over, but do not know the timing of that. I am hoping for a sharp rally to short. The PPT last hour move on Friday means nothing big picture.
