The jump in trading ranges has given me some truly *fun* homework, and should result in an improvement in overall algo performance -- for one model, pretty easy, for the other.... maybe more subtle than I can pick up right now. Certainly attention-grabbing.
Steve - We should have all learned this in the financial crisis. Gold has behaved very similarly to Oct '08 when it crashed along with the market and then rebounded quickly by the end of year. It was the result of a liquidity crisis, which the Fed has backstopped (probably having learned a bit from '08). Gold actually sank less this time around.....
With 0% interest rates and QE infinity dozu might actually become right that taking out a fifth mortgage and buying QQQ might actually eventually turn a profit.