Banking in Europe has come to a halt. One of two things happens from here. The ECB prints money or there is a total collapse that will also affect us. Stocks in the US are set to make a large move in either direction. If the Fed or Europe can print we go up/ If they don't we go down. I am still long gold and silver and they did well yesterday. Today everything is starting off weak - my feeling is that they will print but it may be a rough ride first. http://www.ritholtz.com/blog/2011/12/european-banks-remain-reluctant-to-lend-to-one-another/