Gold miners have been the worst performing sector in the last six months. The charts on stocks like Randgold Resources Ltd. (ADR) (NASDAQ:GOLD) and Yamana Gold Inc. (USA) (NYSE:AUY) are truly scary as they have seen drops of over 30% in that time frame.

George Soros is the founder of Soros Fund Management. In 1970 he co-founded the Quantum Fund with Jim Rogers and Christoper Ink, which created the bulk of the Soros fortune. Legendary was his currency speculation against the British Bank of England:

The next couple of days in the stock market could be on the quiet side. You see, the Federal Reserve is holding a two day FOMC meeting on Tuesday, and Wednesday. Many institutional traders are going to be on hold until they hear what the Federal Reserve Chairman Ben Bernanke says. As you know, most institutional traders and investors are just dying to hear the words quantitative easing three (QE-3). The likelihood of this happening this time around is very slim.

The Ben Bernanke's comments were just released before he testifies in front of a Joint Economic Committee. It should be noted that gold, silver, and gold mining stocks are declining lower. This tells us all that the Federal Reserve is not looking to implement another quantitative easing program at this time.  ...

This morning, after the U.S. Labor Department announced the disappointing non-farm payroll report gold started to surge higher. The catalyst for the rise in gold is the anticipation and speculation of another quantitative easing program by the Federal Reserve. Today, the SPDR Gold Shares (NYSE:GLD) are trading higher by more than $5.00 from the pre-market low to $155.49 a share. 

Earlier today, the major stock indexes were trading sharply lower. The highly followed SPDR Dow Jones Industrial Average ETF (NYSEARCA:DIA) was trading down to the $122.82 level. This afternoon, the DIA is rallying off of the lows to to 124.12 a share. This is still a very good intra-day bounce especially if you happen to be a scalp trader.