Typing fast to post this while the site is up...
All is (relatively) quiet this morning as the markets await the Fedlines and Bernank presser at 2:00 p.m. EDT. http://www.reuters.com/article/2013/03/13/usa-fed-statement-timing-idUSL1N0C5D9Q20130313
It's always fun when The Bernank issues statements after the Comex closes and it's going to be a very wild ride again today.
Coincident to that, our pal Santa will be hosting his "chat" in NYC this afternoon. You can bet that, if given the chance, The Gold Cartel will try to jam prices down while Santa is talking, if anything just to remind him that they are still in charge...for now.
So, anyway, expect significant volatility this afternoon. On the bright side, though, is this: In between outages, I've posted two separate quotes/interviews from The Brenank's lapdog, Jon Hilsenrath of the WallStJournal. Hilsenrath has twice emphatically stated that the FOMC will not be swayed, that QE will continue ad infinitum and that The Fed will keep "hitting the gas" in order to wring out as much growth as possible from the moribund U.S. economy. With that in mind...maybe, just maybe...we'll actually get some UPside volatility. Maybe. Just be sure you're paying attention at 2:00 p.m. today.
Lastly, about the outages. It's not just my site that has been hit. You likely noticed that Max's and some others have been having trouble, too, and this appears to be related to the attacks on KWN, SD and others last month. The Tech Team is working overtime to try to fix things and we all should be extremely grateful.
I'm hoping that a forensic investigation will yield actionable results because I am fully intent upon pressing charges, if possible. These malicious attacks are designed to disable this site (my business) and they are doing significant financial damage not only through the downtime but by the cost of repairs. If this were to happen to a brick-and-mortar business, authorities would be called and arrests would be made. However, because this is the internet, the hackers feel safe behind their anonymity. Not if I have any say so in the matter, they're not. I will keep you posted in my efforts to bring them to justice. It may take a while but I'm going to try.
That's all for now. I will be traveling again today so, even with all of the Fedline volatility, I won't be able to make an updated post until this evening. Remember, nothing of significance has taken place until gold moves through $1626 and silver moves through $29.40.