Q3 ended on an ugly note for a terrible quarter. I looked at the Dow up 80 in the early morning and I seriously thought about tweeting the end of day will be down 200. To much hope is being placed on Europe. Right now there is no growth engine for the US economy. The only hope is moving to the Fair Tax. The best thing for the economy was Herman Cain becoming a force in the Presidential race. Unlike Huckabee who embraced the Fair Tax in 2008 the GOP has a real chance in 2012. The 9-9-9 plan would make manufacturing in the US plausible again. Remove the specter of Obama care and some of the burdensome regulations and you would see this countries productivity be competitive with the world.
I have been faithfully predicting the market will start to go up by the end of Q1. It looks like the GOP ticket will in March with all the big primaries being front loaded. A business friendly President and a possible first governing Republican majority in many generations will be very bullish for the market. I will adjust my bottom. I think it will be the Mid to upper 9000's on the Dow and the mid 950's on the S&P 500.
Its October. Still time to sell. This is historically a bad month for stocks
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