I resisted all urges to change things last minute and waited impatiently for the Fed announcement. No Q3; just more intervention in the bond markets. Afterwards I sold off my Proctor & Gamble (PG) at a loss and took profits in American Water Works (AWK). AWK had been straight downhill for the past ten days; PG has been downhill for the past six months and this morning revised its earnings forecast further downward. In place of these two, I added to positions in Standard Chartered (SCBFF), Vectren Corp (VVC), and Progress Energy Resources (PRQNF), all of which have moved up nicely in the past month.
SGOL opened down and stayed down; gold stocks did a bit better. And there was a good article on steel prices in the WSJ today: