The market seems to be turning North as of late, and after the wild ride over the past couple weeks, a solid trend to the upside is a soothing feeling.

The Fed held rates at 5.25% today, but those who pull out the magnifying glass to read the report will tell you there is more than meets the eye.

Again, it’s what was not in the Fed statement that is important. Evidently, the phrase “additional firming that may be needed” was dropped from today’s statement, leaving me to believe Big Ben may be leaning towards lowering interest rates later this year.

On the other hand, the Fed is still very much in tune with the inflation numbers, and I would understand if they’re still not terribly comfortable with the stability of the markets. So I wouldn’t count on a rate drop, or at least bet the farm on it.

My GLD position is starting to climb again, and I think the influence of the Yen carry trade may be dwindling. I’m still in negative territory, but I’m happy that the metals are starting to stabilize.

PVX is still strong with oil climbing, and the 11% divy is still a thing of beauty!

Investing