Attention: You are being watched.

But you know that already, since you signed up for Loopt, the new mobile application that keeps your friends—and maybe your enemies—under your watchful eye…and vice versa.

Available today on your shiny new iPhone, Loopt acts as a homing device for your voyeuristic band of misfits. By combining GPS, blogging and social networking, everyone in your address book who you choose to let in (be warned: Choose wisely) can see where you are, what you're saying about where you are and how to get where you are. And it's all laid out in Google Maps.

But it also works the other way, allowing you to master the art of the accidental run-in ("This is so funny, what a coincidence…"), the science of subtle avoidance and the noble practice of saving a damsel in distress.

And when you want to drop off the grid, simply set yourself to hide mode and go about your business under a cloak of secrecy.

But what's the fun in that.

Loopt, now available at the iPhone App Store or on loopt.com