As I recall in listening to Financial Sense Online when JP was interviewing Prechter a month or so ago, Prechter thought that it was possible for gold could run up to the $1600 level this winter, and that would not throw him off. He said if it was that high next fall, he would have to rethink his position.

No, Prechter never made that statement. He thought gold could run up to $1100- that was his line in the sand for gold and his B wave count. He continues to call it a B wave even now when it's far surpassed his original count. Likewise, you can't call this a blowoff top in gold because it doesn't meet the definition requirements for a blowoff top.