I thought gold stocks were a 'buy', at least in relation to broad stocks back when this ratio was around .38; so let's get that clunker out of the way first.
In relation to the SPX they declined further and have already crashed similar to 2008. This has notable analysts calling for buying US stocks above gold and I would assume, gold stocks as well.
They can call for that, but here we will make a different call based on the RPG potentially becoming fundamentally favorable once again and increased pressure on our policy heroes to stop all pretense that they are stewards of the currency and in favor of anything resembling fiscal prudence and austerity.
The most recent shaded yellow box has brought the sentiment backdrop in the gold 'community' to register what I'll call an EPIC reading on my Sentometer.