Precious Metals Slammed

Precious metals getting smelted today with gold down almost $90 and silver off by nearly 15% (!). Obviously my small venture into SLV yesterday wasn't the best of timing...

Support for GLD looks to correspond to the multi-year uptrend line which corresponds to 152ish.

SLV looks to have support right around here at 30, although it doesn't feel very strong. Stronger support may reside below at 25-26ish.

Have taken 'placeholder' positions in both metals and will be a better buyer lower.

positions in GLD, SLV