From Sean Brodrick: Gold is trading at its lowest level in a month. The bearish mood on the Street is palpable. Good! That, in turn, is dragging down the shares of otherwise great miners.
I knew an old Wall Street trader, Charles Belida, now deceased. When he started his first job on Wall Street, he still had an outhouse. He had a great saying for times like this:
“When the paddy wagon comes along, it takes the good girls downtown along with the bad.”