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Marking Time

October 12, 2012 – 5:21 pm

As the elections approach and finally becomes old news when they are over we will see some movement in dealing with the fiscal cliff. Whoever becomes the next president will no longer be running for the office and can get to work on dealing with pressing issues that are currently being ignored by both the President and Congress.

The stock market will struggle until clarity is achieved. It does not need complete resolution to all the big issues, just movement and a direction. Once we have that we will see the next big move for stocks.

Meanwhile a slow correction is currently stressing investors. October has a history of marking the bottom and demonstrating the beginning of a new bull phase. However, just because it has that history does not mean it will repeat it. On the other hand history does tend to repeat.

Good Trading
Steve Peasley

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