This is from Peter Grandich:

As noted earlier today , I was hoping to see gold close in the $1,185 – $1,190 area. We touched it and came close to closing there. In a perfect world, opening lower tomorrow and then closing above $1,200 would all but do the trick for me. The only hiccup I see near term is Tuesday’s gold options expiration . There were a ton more calls written at $1,200 than puts, so the correction came as no surprise and this fact was one of the reasons I turned short-term cautious last Wednesday evening.

We remain in the “mother” of all secular bull markets and my 2010 target remains $1,300 – $1,500 . I understand why some felt they must email us but please, no more emails about the three gold perma bears who can’t even beat a broken clock – Nadler, Kaplan, and Klapwijk (Sorry Bill but Jeff has actually made a bullish case now and then). This trio makes the NJ Nets look like world champions based on wins. In all seriousness, they can’t hold a candle to Jim Sinclair or Bill Murphy, both of whom have been spot on regarding the long-term movement of gold. And the $800 predictions? Yes, we can get to $800. When we hit $2,400 they split it 3 for 1 .

We’ve very fast moving markets (but junior resources only move fast one way -down). The gold correction I envisioned last Wednesday night could be over if we can wash out here today in the $1,185 – $1,190 area.

The usual no-bid junior resource correction is upon us and while its always nail-biting, I’m sitting through it (and so should you if you followed my advice that any and all capital in this sector must be willing to be partially or totally lost). It’s during these declines that I definitely check to see if my wife is watching that TV show “Divorce Court”.

My point is very simple, this is the day to place your Bids, on Monday Stock Market is closed and maybe today JPMs will see the Bottom, and then after Tuesday up and away. I can't say what will be with other stocks, etc... but Gold and Gold stocks should do well after Tuesday. Today is the right Day to catch some cheap shares or just switch off your PC and enjoy the rest of this week.

GLTA!