REIS Vacancy Rates, Kass (Bottom's In), UBS Cuts S&P Target to 1,150 from 1,350, Overnight Gold Chart

Below are interesting articles and the Fast Money video from tonight featuring Doug Kass vs. Brian Kelly (of Kanundrum Capital see Seeking Alpha articles). Kass thinks the market bottom's in for the year while Guy Adami still thinks the market is headed "significantly" lower, with 1040 as bogey level. Dow $1,000 anyone? I'm watching GLD and SLV here, they are both at serious inflection points (ceiling resistance/uptrend support are meeting). They held the 2008 uptrend today, we'll see about tomorrow. Overnight, GCQ10 (Aug Comex Gold) is testing the downtrend line from 6/28-7/1 peaks. Links, chart and CNBC video are after the jump.

GC_Q /Aug Gold on Comex

Mortgage Applications Rise 6.7% (refinancing) - Bloomberg
REIS: Apartment Vacancies in U.S. Drop From 30-Year High - Business Week
REIS: U.S. Shopping Center Vacancies Approach Record High - Business Week
REIS: Office Vacancy Rate in U.S. Climbs to 17-Year High - Business Week
Japan's Machinery Orders Slump 9.1%, Most Since 2008 - Bloomberg
UBS's Golub Cuts Year-End S&P 500 Forecast to 1,150 From 1,350 - Bloomberg
(2010/2011 EPS $84/$91 from $87/$87)
Jim Rogers: Sell bonds, buy silver, rice, sugar (precious metals/agriculture) - Bloomberg
Wells Fargo to Cut 3,800 Jobs, Close Financing Unit - Bloomberg
Market Manipulation Live - Evil Speculator
GMO's Jim Montier Destroys Kartik Athreya (Fed researcher who dissed bloggers) - Zero Hedge
RBS seeks 'pioneering' approach to selling assets that are key to UK property market - Telegraph
RBS sale signals big exit from property loans (£3bn ($4.54bn) property debt) - FT.com
BoA's Bartels Drops Bullish Forecast, Sees Losses: Technical Analysis (7/6) - BusinessWeek
Why is gold going down? (Video) - Market Club blog
Is it time to short S&P? (Video) - Market Club blog
Housing Double Dip Appears To Be Underway - Forbes
No Double-Dip Recession: JPMorgan Strategist - CNBC
Facebook's Market Cap is... Interview With Jeremy Smith from SecondMarket - Benzinga