Again we are in the best months for small cap stocks here in December and January. Overall its very hard for me to expect a sharp decline in mkts , but if we get one it should happend now into mid December as rest of December is usually extremely bullish.

1. Coal stocks looks like maybe have found a near term bottom, however KOL must hold 15.5 level if true.

2. Gold looks ready to rally higher after a short term pullback – still expecting a strong rally into year end and rally above 1220+ next from here.

3. GDX looks like formed a bottom and expect another big rally higher in gold miners GDX from here to 24 level

4. VIX remains low and could see a bounce , however I would not expect anything big.