Well What Happened?

Market has been extremely volatile so far this morning........and I think it is actually up now! lol..... You never know what to expect. As far as yesterday's predictions:

1/2) Gold is up slightly along with natural gas and oil.

3) Insurers are hardly down at all and I would not be a buyer here.

4) BBY is down, but I have not entered trade on that one.

So far this morning I have done the following:

1) Sold NEM mines position as 39.50 for loss of $3 per share. I will comment on this later tonight or tomorrow.

2) Purchased 41 shares of Frontline (FRO) at $43.72.

3) Have limit order for Purchase NEM mines September $37.50 call options at $2.20 for 10 contracts.

We will see how this turns out - I am thinking gold will rally more just on the expectation that the Fed might lower rates or stop raising due to the disaster. Frontline is a buy based on the havoc that Ivan did to Florida and the Gulf last year and the effect on shipping rates. Will have to keep a close eye on this one.

-BG