WAIT AND SEE

"ONE DAY YOU EAT THE BEAR, THE NEXT THE BEAR EATS YOU" - DAVID FRY

Futures are deep in red and market appears to be bumpy to start this hot and hazy week. Commodities continue to be in the positive swing, particularly energy. There might be a trade in selective energy and commodity names and a couple of shorts in the technology. However, it is never a good idea to jump in at the beginning of the week. Better to wait and see.

Nickel price dropped significantly due to Inco's agreement with its union. Galleon (GO-A.TO) cut its production guidance and the market does not like it. This is a high flyer in the junior sector and it could get ugly, which could provide a buying opportunity. ProEx (PXE.TO) on the other hand, increases its production guidance and it could pop a bit this morning.