Wall Street is blaming the retreat in the mining stocks on the proposed Australian 40% tax on large mining stocks. Wall Street can always find a reason for whatever direction "they" want to move the market. Buy and hold for at least three years and don't watch the stock price every day.
Economy is looking good, that's why the market is up today. Copper is down over 2% today, and has been down dramatically over the past week. Until we officially become a gold stock, we will trade with the price of copper if there is no new news on the gold front. If your oil is the oil drilling sector, they are down due to the leak and the uncertainty of drilling in the gulf for the forseable future. I have a lot of oil tanker stocks (NAT, FRO, SFL, and TNP, they should continue to do well on that same fear.