Additionally, it looks like the $900 to $925 support is still in play re the Cup and Handle reversal chart of last week...not that that is any consolation on a day like this.

Sometimes I wonder if we are getting royally set up with all the charts seemingly falling in place for gld's next take off. Fundamentally everything PM should be a nail-screetching buy.

Somehow, there are just too many of gold's former detractors including Goldman, JPM, IMF etc. that have been gold positive lately. Sniff, sniff. Hope I'm very wrong.

I'm pulling for that $1240 target in spite of my trepidations.

What a day for the general markets. There will be many very unhappy and concerned folks around the dinner tables tonight.

How about, "In like a lion and out like a lamb" for the bears?