I am looking at stocks on an individual basis. With gold continuing to climb and many of the gold stocks up yesterday I am starting to accumulate some of the beaten up for no reason names.

I don't think they will get to the extreme valuations they reached in 2008 as that was caused by days on end of margin call selling but I am keeping a good amount of powder dry just in case.

I also see a danger of being under invested. In a market this volitile there is a posibility of a major up move in the pm's that could leave people that are waiting for the bottom in a position of having to chase prices higher if they wait too long.

We live in interesting times and extreme volitility is just something else we are going to have to live with. As governments are constantly changing the rules things can turn on a dime.