SHORT

Shorted 1000 shares of IWM @77.82 put stop/loss at 78.08. I do not usually cover gold but it should make a small dip may 695 ounce then a strong push to 730-750. If gold makes this high it would make a great short.

Crash?

55 days in 1929 from peak to crash; 55 days from peak to crash in 1987. Is September 12, 2007 this decades crash date? The corrective C wave topped at 61.8% of A. If this count is correct, the next few days/weeks will be UGLY. Stocks should see persistent downward pressure with momentary sharp but short relief rallies, and volatility will rise sharply, higher then we saw in early August. Panic will likely not set in until below DOW 12518 (SP1370), the August low, at which point we find out if the floor is around the 2000 high (Dow11.7K) or the low which ended around DOW 10k.