Gold miners sold off hard this morning, as the market waited for the statement from the Fed's Open Market Committee (FOMC).
Guess what happened when the statement came out?
Gee, that was hard to see coming, eh? All that bad news being priced in, when the Fed telegraphs what it's going to do from a mile away, and they gave no hint of bad news. And guess what. There was no bad news!
Yeah, we'll have to wait and see how the day ends. But so far, feeling pretty good about the gold miner positions.
Now, I need to figure out why energy is getting hit with a 2x4 between the eyes. Shrinking margins or building supply. What's your guess?