The "extreme" in your name must really stand for "extremely desperate short". Did you get brain-washed by the media into thinking gold was a bubble and go all-in on the short side thinking you were going to clean up?
You can post all the charts you want but the bottom line is: gold is going higher. Massive printing of money, debt ballooning, sovereign economies on the verge of default. Gold is the safe haven no matter how much the pundits want you to believe it isn't.
You maybe right but many are taking a good portion of their holdings off the table this past month. Are you stating their all wrong for doing so...mind you their left over holdings will still make money if gold rises.
Don't you think too many retailers have jumped on gold lately?
"So if you predict GLD will drop to $145, do you assume the stock market will rally?"
Gold often and usually moves in the same direction as oil and the markets. 3 years ago gold fell to $700 as the market crashed.
Sometimes in the early stages of an coming return to recession folks pile into gold for hoped-for safety but they drive the price too high. Gold is only a safe-haven at lower prices.
As the economic downturn continues and markets fall and commodities fall, folks sell their high-priced gold at a profit to cover their other losses and to raise cash to buy other things that have gone on sale. This starts to collapse the price of gold and folks start dumping to avoid losing all their gains.