Well, I started with a short in gold and I am currently up over 20%. I was a big buyer at the end of August, however with the recent breakdown in the industrials (AA, Cat etc) my view has changed. I am now in three positions: Long USD, TLT, and short GLD. After further analysis, I have new downside targets. I will not be even going near any longs for another 20-30%. There is a STRONG possibility that S&P 500 will be touching 900-950. We could see Alcoa touch $5.75. This is not the exception, but just one of the majority of stocks which i fell will be down 20-30% in the next 6 months (maybe even faster). I am ready for the ride, but at the same time I hope that America can end the political instability to correct these problems.
I do think the SPX can break 1000, been saying it for a while, but on its way down to sub 1000 levels it will be bouncing and rallying hard 2-3% on certain days! So get ready for insane volatility! Trading around 1108 right now!