Labor Day

Happy Labor Day weekend!  Always bittersweet as this marks the traditional end of summer.  Most of us find anymore that summer ends mid-August because schools seem to start earlier each year!  Anyway given the holiday schedule and some business commitments, I won't be posting until sometime midweek.  I'm working on a longer piece that will take a look where we might be by the end of the year.  I want to warn you that I am likely to take the expected price ranges that we've been using in our end of the year valuation analysis for the markets down a notch in that report.  I think I'll be lowering those expected valuation targets for both this year and next based on what we've learned over the last month.  I'm thinking that we'll look at S&P 500 price targets of 1250-1350 for the end of this year and 1400-1450 for end of 2012.  I'll caution you that these are my preliminary ideas and I'll need to think about that a bit more over the holiday!

Look for that piece sometime after the President speaks next week.  I want to see what he proposes and how both the opposition and the markets react.  Irregardless, I'll be back on my regular posting schedule next week.  See you on Tuesday!

*Long ETFs related to the S&P 500 in client and personal accounts.