In Today's Post:

1. Commodity Watch
2. Earnings Calendar - Week 2
3. Earnings Watch
4. Stocks We Care About Today Watch
5. Odds & Ends

Commodity Watch:

Crude Oil fell 11% last week turning in its single worst one week dollar drop since trading in crude started on the NYMEX. This morning crude is trading up $2 to $3 as the tropics heat up and Iran shockingly appear to be unwilling to give up its nuclear enrichment program.

• Iran Is Stalling For Time Watch: Iran must be thinking the price band for oil must be $130 to $150. In the high $140s they are willing to talk about giving up their centrifuge program. Oil takes a little numbers and its "we'll call you in two weeks". Talks in Geneva stalled before they really got started with the U.S. envoy never obtaining a one on one meeting with his Iranian counterpart. At least a phone call would have saved the U.S. their gas money. 

Natural Gas also fell 11% last week, in part due to technical trading but also due to an anomalously large gas storage injection. This week's number will be crucial for gas…another big injection in the face of the hottest weather of the week and people have got to start thinking that increased shale production is finally showing up in the weekly numbers despite a dearth of imports. This morning gas is trading up with the thought of the first storm of the season for the Gulf and hot weather next week.

• Weather Watch: Cooling degree days for last week eased by 1 to 79. The early read by the CPC for this week is that CDD's increase to 90, the hottest level of 2008 to date and far warmer than year ago levels.

• Tropics Watch: Tropical Storm Dolly formed in the Caribbean on Sunday. The storm is slipping neatly between the Yucatan Peninsula and Cuba allowing it to strengthen more than it would have as it enters the warm waters of the Gulf of Mexico (land would have sapped some of its strength). Click here for the latest advisory.

Earnings Calendar Week 2. The full calendar is updated on the calendar tab, here is Week 2 which is as you can see contains the first reports from E&P, the Majors, Coal and lots more oil service names. This is not a comprehensive list but these are the calls I plan to be on or in case of schedule conflict listen to later.