zzzzzzzzzzzzzzzzzzz.........

That's what it felt like watching gold today. After an obvious cap, once again at $930, gold started it's usual 6am melt, and from there it pretty much flipped and flopped around all day. At its low it was down $6 and at up $2 at its highs, before closing down $3. The gold stocks, once again in the face of a strong market, were a nonevent. At least AU was up .70.

The SA mining companies say that by Friday they will be operating at 90% of full electrical power. How that will affect the gold prices, I have no idea. But saying that gold was only up $3 on Friday, when the shortage was first announced, it will prolly be down $30 when the announcement is made they are back to full operation. That's just the way the gold market works.

So tomorrow is the day where we find out how much Ben intends to grease the wheel. The smart money is praying for a half point, but I still think it's only a quarter, as he really wanted to cut a full point all along. Again, if he cuts a half, gold should rally, a quarter and it gets hurt, along with the market. If he does nothing, watch out for gold and the market as both will crack hard.

I think today's durable goods number will have nothing to do with his decision. But is it possible that Ben tells the market that he is no longer their bitch, then says F.U. and does nothing.? It wouldn't shock me.

Sorry, for the short update, but nothing really happened today and I have nothing else witty to add.