PM's Update

 GLD 2 min, it looks like there was an intention to take profits in GLD today as the early 2 min chart shows a negative divergence and then GLD started pulling back. The divergence went negative leading, very bad and this BEFORE the Silvio rumor came out which caused the decline in blue. Since there's been a slight positive divergence and GLD has moved off the lows (at the white arrows).

 The 5 min shows the same thing, it looks like profit taking or some other reason was in place with the negative divergence, again it went leading negative BEFORE the rumor out of Italy.

 The 15 min chart in the intermediate term is what would cause me some pause and keep the trailing stops I recommended last week in place.

 On an hourly basis, that is barely confirmation

 Stops are hard on this one, a 50 bar 30 min chart should allow you to catch any bounce that GLD may have, but it won't hold a major consolidation or pullback and a 60 min is just too low and leaves too much on the table.

 SLV 1 min did pullback on what may have been profit taking or related to MF Global positions being liquidated, but it looks like it wants to bounce from here.

 The 2 min chart agrees.

 At 15 mins, like GLD, it looks more like a consolidation is coming and my guess would be that a bounce might hit the resistance level at the red trendlne.

 Again the hourly chart is barely confirming, so I'd keep trailing stops in place.

 A 50 bar 60 min gives you some room for consolidation.

a 30 min will capture more profits, I don't think a 50 bar 15 min is realistic, unless you are trading very tight on the bounce.