According to Merriam-Webster's dictionary ambivalence is "simultaneous and contradictory attitudes or feelings toward an object, person, or action." For Dan Fitzpatrick, the President of StockMarketMentor.com, it's all about the ambivalence-trade right now in the stock market. "There's no real conviction one way or the other," the former trader and hedge fund manager says. "There's just this ball of confusion going on where most traders are waiting for the next catalyst."

And if you're looking to Federal Reserve Chairman Ben Bernanke's speech on Friday morning from Jackson Hole as a catalyst, make sure you're positioned to the downside. "I don't think that anything that Ben Bernanke says will be by itself, a reason to buy stocks," says Fitzpatrick, especially if we have rallied before hand. "The worst thing to happen would be to rally right into Friday and the Bernanke decision, because almost irrespective of what he says... the market would sell the news."

While labeling the current investment climate as a really difficult time, Fitzpatrick suggests investors "zoom in on a few stocks or sectors that you know and that you really like because you're probably going to get a really good buying opportunity.'' And he says the same will soon hold true for gold, specifically if it dips to $1600 or less.

"I am one of those guys that says the long-term trendline will support the price of gold," adding that this "hasn't been a blow-off top." Fitzpatrick calls himself a "buy and never sell gold guy" who agrees with Louise Yamada, well-known technical analyst who discussed gold on Breakout last week. Both think gold is headed significantly higher; up to $2,500/oz. next year then upwards of $5,000/oz. longer term.

Nothing ambivalent about that call!

Finally, a note from my co-host Jeff Macke updating his "Sell Today and Go Away" column from yesterday:

In yesterday's column I discussed selling off my trading positions, not to be confused with long-term holdings. In my case, I refer to "core holdings" as names I've held for more than a year with fundamental stories which remain unchanged. I still think the bottom was put in at 1,100 on the S&P 500. But with the market over 5% higher than that point, the "easy money" trade may be done.

It was fun while it lasted, but it looks as though the gold trade is finally unwinding. The precious metal booked a record high close just two days ago, settling at $1,891.90 an ounce on Monday. Today it took a fast and furious 5.6% dive to close at $1,757.30/oz; its biggest single-day drop since March 2008.

What's been curious about the recent rush to gold is that gold mining stocks weren't taken along for the ride higher. "There's long been a knock on the miners," says Ryan Detrick of Schaeffer's Investment Research. "Gold is making multi-year highs but the miners aren't."

A simple comparison chart shows spot Gold leading the Market Vectors Gold Miners ETF (GDX) by about 30% on a year-to-date and 1-year basis. But as relative strength in miners improves and the world's favorite safe haven plunges, Detrick says it might be time for "a catch-up buy."

There are many theories as to why the miners have lagged at a time when Gold and gold-linked funds like the SPDR Gold Trust ETF (GLD) have soared. "We're seeing that negative sentiment on gold miners in the options market. Analysts are wishy washy...by no means are analysts extremely bullish on miners. So there's contrarian thinking there," says Detrick. He points to Royal Gold (RGLD) as a favorite.