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Our politicians in Washington did what they do best this week by kicking the debt ceiling can down the road until Dec. 16. Until then, we can switch our focus to the Fed’s November decision on tapering its bond purchases. Does anyone have any Pepto Bismol?


It has been a bumpy week for stocks, and it could get worse if you believe the headlines of the financial press. The issue I see is that just about everyone is expecting a nasty period ahead for equities. That makes me somewhat bullish.

I have been surprised by how well the markets have been handling all of these challenges. Markets snapped back on Friday somewhat; however, we will need to wait until next week’s outcome of the Fed’s Jackson Hole Symposium before signaling an all-clear in the short term.