I agree with herewego, hold off on the financials and builder shorts, every one of them jumped 10% on the subprime bailout news yet the program is voluntary and has no real benefit for either group. They were flat today but are jumping in after hours, expect good days for them early next week and by the following week, reality will set in. The market is so desperate for good news they will jump at anything that isn’t bad news. The fed can’t lower below zero, so there are only so many bullets in the gun and they are wasting them right now. Personally I don’t see how the financials benefiting from freezing rates on their best customers who were paying them and having their worst go to foreclosure. That piper will get paid eventually.

As far as gold, it’s as good as….gold, the ultimate inflation hedge and we are going to have inflation, so go with it.

My disclaimer, since any position I take turns to crap i pledge that I will not buy gold or short the builders on Wednesday of next week, that way you can all have a fighting chance.