Many gold — your friendly Gold Enthusiast included — dipped a toe in the long side of the market last week, as gold appeared to be feeling its way along a bottom. The chart of GLD shows what happened pretty well, and may be trying to tell us something.
On the far left of the screen you can clearly see the Friday, Monday, Tuesday action, as GLD made consecutive lows around 115. The usual trading strategy for these situations is to buy in when any sign of strength appears following such action, and set your stop just below it.
That probably worked fine for you, if you (a) bought GLD, UGL or options directly based on the price of gold itself. The chart shows you’d probably still be in the trade, holding a small gain and looking for more.