Assuming the December contract ultimately corrects down to our Hidden Pivot target at 1291.60, or perhaps even to 1278.70, we should remember that gold was down a whopping $15 on the day it was disclosed that QEII would be more like $200 billion than $2 trillion.  Thank heaven we were not privy to this information on Tuesday, since we’d have been sorely tempted to hock the family jewels to raise money to short precious metals with reckless abandon.  We’d also have been looking for a drop of $50 or even $100 in gold’s price rather than the piddling $15 we got. For now, we’ll continue to use the “soft” peak at 1358.90 to signal a resumption of the major bull trend, but otherwise the two targets given above will remain in play, the lower of them our very worst-case scenario for the foreseeable future.