Jeff Kern's Ski Index is showing a further decline as well. I'm ready for anything at this point. I think we've all been dead wrong on more than 1 occassion on this board as well. I have no idea when the bottom will come or when we'll see a true valuation, all I know is I'll likely be surprised when it happens as I have been about 6 dozen times in this bull market already. I still believe were much closer to the bottom than any top so whether we decline another 50% from here or not it only affects my buying not my selling.

I'd like to worry about selling decisions at some time but I'm confident I'll have as tough a time calling times to sell as I have buying near the bottoms.

http://www.321gold.com/editorials/kern/current.html