I usually don’t spend too much time worrying about New Year’s Eve, but unfortunately I was up at 4:30 AM sorting through the various news services on the chance some information would come forth on the status of the “Cliff”. Well it is 10:30 am in Washington and no real substance has been presented. The good news is the market is up and holding firm which is somewhat confusing based on all of the worry emulating from the uncertainty. I doubt we will hear anything until after the market closes so now I get to spend New Year’s Day sorting out whatever happens or doesn’t happen.
I have been asked constantly over the holidays what I think the market will do in 2013 and have started several articles on my observations since I have an aversion to predictions. However, until some clarity from our “leaders” in DC is presented I am maintaining my investment discipline until I see the “whites of their blood shot eyes”.
If something does happen today I will get some info out. I wish everyone a Happy New Year and I am sure you will hear from me early Thursday morning. If you need to talk I will have my cell phone available all day today and tomorrow so please do not hesitate to call.