Another leg down for this year at least.

What you alluded to earlier about selling now, to capture possible lower tax rates in America (Selling winners) in addition to tax loss selling (Selling losers) makes us see a lot more selling across the board.

Those are real reasons for selling, but when combined with the media and news stories about the fiscal cliff and Eurozone problems and the economy weakening, "supported" by the markets going down already (see real reasons to sell now^) we'll see a spiral effect downwards for the rest of the year.

Predicting a dead cat bounce early next year, continue downward a bit and then trade within a range being volatile like I had said earlier, being highly news driven. Gold plays with its all time high early next year.

I hope we're done by the end of the year because I'd like to take advantage of it with CUU earnings added to the fact I don't want to see us going any lower with the market.