The Rotation Is Coming… Here’s Where The Money Goes Next w/ Mel Mattison

Summary

Mel Madison joins John Gill to break down the macro outlook following a pivotal FOMC meeting under new Fed Chair Kevin Warsh. Mel argues that falling oil prices and a durable Iran peace deal will push CPI negative, forcing rate cuts later this year. He sees this as a major tailwind for gold, silver, and mining stocks, and urges investors to rotate some AI/memory profits into beaten-down cyclicals, emerging markets, and Latin America while maintaining core positions in names like Micron and new IPO SpaceX.

• FOMC held rates steady; dot plot split but Mel expects cuts as oil-driven deflation arrives.
• Gold dropped to $4,000 on Iran panic; Mel called it a buying opportunity, now up ~10%.
• Silver offers both monetary beta and underappreciated industrial demand (solar, batteries, weapons).
• Gold miners (GDX, Newmont) are a high-conviction play thanks to rising metals and falling diesel costs.
• AI memory names like Micron still have 50% upside potential on powerful earnings momentum.
• SpaceX is a long-term option on hard-to-replicate tech; accumulate on pullbacks to $150-170.
• Emerging markets, especially Brazil (EWZ) and Latin America (ILF), are bottoming and poised for a second-half rebound.
• Rotation into materials (XLB) and industrials (XLI) from extended AI winners is a smart rebalancing move.