We all know the relief madness over the past week or so: oil got denied when it almost tapped $150 and dived to $123, taking down the rest of the commodities world- metals, agriculture, coal...you name it. Meanwhile, banks hit a trampoline and the XLF rebounded some 50% off the lows. Yes, it's great to see gas here down to $4.59 from $4.89 just 2 weeks ago. Sure, maybe it's the speculators the regulators have now caught, or maybe it's money coming out to chase the banks off their lows.

But- what if it's because China has halted a big chunk of it's manufacturing to clear the air for the Olympics that starts exactly in 2 weeks? I haven't figured out the effects yet. Just thinking what will happen starting September, when the Olympics are over, and the China manufacturing beast roars to life again? Devouring commodities for breakfast, lunch, dinner, and a midnight snack 7 days a week - because the Chinese are workaholics and wouldn't know what to do if they had a day off?