From the comment made by President Bush to Prime Minister Tony Blair yesterday, picked up by a microphone accidentally, - or was it?
The US seems to be taking some pleasure in Israel's soldiers not being released and the hell being beaten out of the Lebanon. He probably, President Bush, would like to knock out the key nuclear facilities in Iran and chase some of the Taliban taking refuge in Syria and indeed all those Iranian missiles being brought into the Lebanon and bomb making materials into Iraq, from there.
This does look like being a long-term situation which will zigzag its way through 2006. If you'r a bit of a speculator these markets should be enjoyable, but keep lots of your money in cash in case the pack of cards come tumbling down.