Soaring food prices.

"The current dramatic world food situation reminds us of the fragility of the balance between global food supplies and the needs of the world's inhabitants, and of the fact that earlier commitments to accelerate progress towards the eradication of hunger have not been met," FAO Director-General Jacques Diouf said ahead of the summit.
Governments put off hard decisions and overlooked the need to invest in agriculture.
The food issue could trigger a cascade of other crises, affecting economic growth, social progress, and even political security around the world.
Urgent measures are required to boost local food production, including the distribution to small-scale farmers of seeds, fertilizers, animal feed and other inputs through vouchers or smart subsidies.
Climate change, which is hitting developing countries hardest, could threaten future agricultural production.
The growth of biofuel production, especially in the United States, the European Union (EU) and Brazil, is a factor contributing to higher food prices.
Tracking Dow's Index Movement on Monday,02/06/08

9:30am--Bearish 50.0 points gap down.
A shaven top having received the news that S&P cut its debt rating on a number of banks, and Wachovia and Washington Mutual announced management shakeups.
10:30am--Long Black Candlestick.
It's now close to a 150.0 points nosedive.Any rebound will only be shortlived.A small graveyard doji at this moment.Avoid any position
11:30am--Two hangman.
No sign of recovering or covering the opening gaos as the distance is too far.It's doomed.
12:30pm--Mid-session bunggy jump.Morning star seen
The low being set.Now it's safe to bet for a technical rebound.Open a buy - long position.Add the High & Low divide by 2 to get the MAV.Try clearing off position at mid-point of Low + MAV.
1:30pm--A spinning doji star.
S&P said it was cutting its debt rating on Merrill Lynch (MER, Fortune 500), Lehman Brothers (LEH, Fortune 500) and Morgan Stanley (MS, Fortune 500) to "negative" from "stable" and cut its long-term outlook on JP Morgan Chase (JPM, Fortune 500) and Bank of America (BAC, Fortune 500). The changes followed S&P's conclusion of its review of the securities industry.
2:30pm--Flat base,Bearish hammer.
Bad news digested.Still directionless.
3:30pm:--Spike up,evening star.
Clear position as time constraint.Lock in slight profit.
4:00pm--Two bears.
Reversing to upward trend.
A house cleaning Dow,wiping-off the whole of May's profit to start the musical chair again.It's the mid-year dressing again.Triple witching will be the 3rd Friday of this month.Look forward to the extreme volatility again.