Check out this chart below, for what it's worth...DOW AND THE VIX.. While I still think we have another leg lower in commodities and another leg higher in the USD, which could spell another move lower in equities, I think that we have probed a bottom and could be in for a substantial bear market rally. MAIN POINT - I believe crude and gold can make new swing lows, and the USD can make new swing highs, all while the equities DO NOT make new lows (or if they do it wont be by a substantial amount)... With the Dow/Gold ratio hovering at 10, this is a substantial technical support level, and should bounce us to the 15 area over the next 3-6 months... Bottom line, in the short run, you should buy equities and sell gold. Anyways, remember that one thing is certain - volatility is cyclical. I would look for vol to move back to some normal level and perhaps even swing low before making a new move to break all time highs in the VIX.