Since the market is severely oversold short-term ($NAMO is almost at the same level as it was during the worst of the Lehman crisis), a decent bounce is very much overdue.

Right now, futures are up as well as oil, copper, platinum & palladium. Gold and $US are down. If the pattern holds, the fear trade should be off for at least a day or two, and the market should rally. I will treat any rally as a selling opportunity (at least for non-gold stocks).