Time 9:32

Market Comments:

The G7 met and as I thought tried to talk up the dollar and metals were down until the Wachovia loss was revealed and it was worse than expected. So this week we have a real cross current, G7 intervention threat vs earnings disasters. Over 120 financials will be announci9ng EPS this week. I want to error on the side of caution with my Gold and Silver hedge. Try and forget about the possible news and just follow the charts. As long as GLD & SLV can't get above resistance and are on a 60 min. sell signal then we will remain in the position.

Bad Wachovia news but financials don't go down? The market open was quiet. Everyone calling for terrible EPS numbers. Question: is there to much pessimism right now? Watch how the markets respond to the bad news this could set up the next market move.