This time five weeks ago......

When the Bear Stearns bailout was announced, gold was up some $30 in Asia, I was very worried that the gain would not hold. It turned out I was correct.

Now flash forward to tonight where the G-7 verbally masturbated everyone in believing that the dollar is going to have some huge turnaround and gold is down $9. I have absolutely no faith whatsoever that gold is going to rebound. However, I am scared shitless that when I first check into gold in the morning it will be down at least $20. Actually I have no doubts whatsoever that come 7:30am gold will be close, if not under $900.

All this and things keep getting worse. F'ing amazing.