CLIFF

These politicians need to jump off the cliff-

WASHINGTON (AP) — The No. 2 Republican in the House leadership says he opposes a Senate-passed measure to avert the so-called fiscal cliff.

Virginia Rep. Eric Cantor told reporters after a two-hour closed-door meeting Tuesday with his GOP lawmakers that he did not support the bill.

He said House leaders were looking for "the best path forward" and that no decisions had been made.

The Senate passed the measure early Tuesday by a sweeping 89-8 vote. House passage of the measure would send it to President Barack Obama for his signature. The bill would increase taxes on family income exceeding $450,000 and delay across-the-board spending cuts for two months.

House GOP leaders were considering amending the measure and sending it back to the Senate, but that step could produce a deadlock.

NEW YEAR!!

Happy New Year. Now 2012 is of the past. Let us look back with thanks and move on. There were good times and bad. Give thanks for both because there were a lot of lessons learnt from the bad. Now it is time for a New Year and a New. Leave all negativity behind and embrace 2013 with great optimism and just focus on positive vibes and just loving one another as God wants us to. This is the year that the Lord has made, let us be glad and rejoice in it. 2013 is a gift to each and everyone of us, that is why it is called the "present". Enjoy.

1430

1430 was the S&P year end target by JPMORGAN and Goldman for 2012.
We got 5 hours to get there !!!!!!!

Mercy!!

I guess we are at the mercy of these hard headed politicians-
Bye Bye market- geez- when will this end!

The Rest of year

Hope that everyone had a peaceful and warm holiday. News out this morning on the retail front is that this has been the weakest holiday season since 2008. Funny enough Monday I went to the mall for a household gift and text my wife and said the mall is empty! that should have told me that sales weren't brisk at the brick and mortar. I expect January and February retailers will have huge sales to balance their lack luster holiday sales.
Since volume has been extremely low the last couple of weeks, I don't expect much to go on here till the New Year as we have the fiscal Cliff issue dealing with. Now we could get a huge spike if some news comes out but I am thinking non of the market movers are doing anything till be get some resolution on taxes.
In the meantime have a peaceful and spiritual New Year.

WOWOWOWOWOW

DOW Futures was down 500 points- Fiscal cliff news

Bonds

Bonds negative here with oil- that was writing on the wall the last two trading days-

Expect more downside