Well, gold had a nice aggressive run from $1,100 to $1,250 in the space of a month. And now, in classic fashion, gold is experiencing one of its nasty bull-market corrections. It's down about $16 today. Yet another indication that you should sell gold when CNBC announcers are getting hysterical about it, and buy it when they forget about it. I think nailing the bottom of this particular gold correction is going to be very difficult. Gold is entering the third and final stage of its majestic bull market, which will result in a parabolic rise. It's going to be wild from here on out, and I don't think $50 intra-day moves are out of the questions. That being said, this may be your last chance to get in before price movements become too big to stomach. Where do I think you do that? The typical pattern has been for the correction to retrace 50% of the prior move. As I mentioned the last aggressive move was $150, so you could reasonably expect to retrace half of that, which would yield $75, down to $1175. But in this case, we might not get that far down. Due to the accelerating nature of the gold chart, I think there may only be a few days to buy it in my "buy zone," which is between $1175 to $1200. I would love to be buying more gold in the green circle identified in my chart below. My stop would be $1150. I really, really doubt that we will get down as low as $1150. Now, if you don't own any gold, it's a little more tricky than if you've been riding this move up and sold off some of the gold into the strength. If you are trying to establish a position it may be wise to just wait a few days and see how this correction pans out. The first say you see a decelerating decline at or below $1,200, that's the time to give it a shot.