Buying Gold

Just picked up GLD at 159.35.  Definitely a risky play with the sell off today, but I like these deep sell-offs for a quick flip.  If the economy is going to the pits, GLD will be bought up again, and it finally hit an area I was looking for when I posted the chart a couple weeks ago.  Here's the current chart, not real time so this is before it sold off even more.