Seems like it may be a good time to buy GLD.
I've also been seeing that mining companies of precious metals can be strong in bear markets. They look really volatile, but timing is everything.
I was up Elk hunting two weeks ago near a major Nevada gold mine. My friend builds drilling sites and reclamation. He's been crazy busy this year working for the mine. They are moving some serious dirt up there and drilling for new mines constantly!
I like what Buffet says, don't ever lose money. If we put ourselves in a comfortable position, many times, we can wait for the right timing. It can take 20 years, but... And I think that's been what you are trying to express all along.
I like some buckets that flourish when the market sucks. I have a majority of $ on the flip side. My whole premise here is to be prepared to find ways to take advantage when the tide goes out. Why not hedge some money on the down cycle? You know it's coming someday.