I don't think a major top is possible right now - just too much liquidity for that.

I believe we are simply in the November correction before the year-end rally. Normally, if you get a strong Sept & Oct, you get a correction in November. This was way overdue - everything was extremely overbought for a very long time, & the bullish sentiment was also extreme.

The correction was clearly signaled by the bearish reversal last Tuesday and is currently about half-way through. Should be over by late November - downside target for the Dow is 10,700 (good support around there).

I will be buying back my silver stocks, as well as a lot of the (former) high-fliers in a week or so.