$SPY $GLD $JNUG Really don't understand bullish bearish mentalities under current monetary policy. Overvalued doesn't apply when when your policy is to deflate your currency to reduce trade deficit in an economic war. Its not mysterious at all, its genius. Make the poor pay for the war through reducing their wealth, while inflating the markets for those looking to retain wealth, reducing trade deficit and promoting american production. Every country has done this and ... it works. Real question is how much you believe the rich want for themselves and less for the rest while passing this under the flag of stimulus help for working class. My guess is a lot.