In the last several days we have seen surprising strength in the equity markets. Although they have been strong for over a month, we have been expecting a correction in order to establish new positions. In the face of US dollar strength, the grains, metals, energies, and livestock have struggled. Although we may see continued weakness in many commodities if the US dollar continues to rise, it still may be time to buy into energy weakness. I would not be in a hurry to rush out and buy natural gas, but I do think that the crude oil is looking attractive at this time. We are advising new option positions in January crude oil now. At the same time, we are recommending risk reduction in bonds, currencies, soybeans, and cattle - roll your put options to lower levels.