After I recommended a bearish position in RCE on Friday, the markets surged like a rhino on cocaine. Typical! Still, it's better than a hot-death sandwich, if only because A) we kept the position small and B) my other services, which are longer-term, retain their bullish stance on gold, energy and agriculture.brbrAnd the markets are looking to open well up this morning, but Friday showed us how quickly these things can turn around. Keep an eye on the dollar ...brbrimg alt= style=width: 480px; src=http://local.content.compendiumblog.com/uploads/user/7e88b461-578b-47f3-88ec-038e212ad053/aa0ff38d-9bb9-44a5-bba5-8be30d8f6977/dollar.pngbrIt seems to be heading lower. If the US dollar breaks below 84.5, it could go to 82.65 or stronger support at 81. A weaker dollar should be supportive of gold (it has been so far this morning -- gold is up by about $24 as I write this) but it doesn't have to be.brimg alt= style=width: 480px; src=http://local.content.compendiumblog.com/uploads/user/7e88b461-578b-47f3-88ec-038e212ad053/aa0ff38d-9bb9-44a5-bba5-8be30d8f6977/gold.pngbrHere is the news I'm reading ...brbrGLOBAL MARKETSbrbra style=font-family: verdana; href=http://biz.yahoo.com/ap/081208/world_markets.htmlWorld markets surge on global stimulus hopes/abr The ...

This post is a guest contribution by Niels Jensen*, chief executive partner of London-based Absolute Return Partners.

It is time to move on. Not that the crisis is over, by no stretch of the imagination. But it is not going to make one iota of difference if I join the blame game bandwagon. It is what it is. Allow me instead to focus my energy on what is likely to happen next. That is more productive and definitely more useful.

A can of worms We are dealing with a rather large can of worms. The lid is off and the worms are all over the place. Let’s focus on what these worms might be up to. For all the

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India's inflation accelerated again at the end of June, reaching the fastest rate since 1995, raising the posibility that the central bank will need to increase borrowing costs for a third time this year as early as its next meeting. Wholesale prices rose 11.89 percent in the week to June 28, after gaining 11.63 percent in the previous week.

India's central bank next meets to review monetary policy on July 29. Last month the bank raised its benchmark interest rate twice to a six-year high of 8.5 percent and lifted its cash reserve ratio to 8.75 percent, in an attempt to slow the rate of increase in the money supply.In a sign that the tightening may in fact be working liquidity seems to have been under pressure all week in the Indian banking system as banks had to

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