I think part of what has driven the market today are fluctuations in oil and interest rates and the bond market.

There will be just too much risk of geopolitical shocks in 2006 for oil prices to fall sharply and insufficient inventory to really take the props out from underneath oil prices.

China Black Oil Well Services moved a work-over rig on the leasehold and began working today. We hope to have several more wells producing oil in commercial quantities in the next sixty (60) days.

I suspect that interest rates must increase considerably more than is currently expected or has been built into forward markets.

In the end, there's just not enough oil and gas within our territory. And if we want to break our dependence on foreign oil ... we've got to develop new sources, fuel cells, cleaner more fuel efficient cars and we've got to get back to conserving and using energy more efficiently and wisely.

The dollar is a mess, interest rates appear to be on the rise, oil prices are going up and some earnings are looking weaker - it all adds up to bad news. I'm taking some profits on certain stocks, but it's not time to go running for the exits just yet.