It looks like the most recent economic data has been equity friendly. That gas prices have come down so much I think opens the door to some good retail sales for Christmas. To me, this creates a tail wind for stocks.

I have repeatedly laid out a bearish case for 2006. And while I do not plan to change that outlook, there is no reason that equities can't go up. I will be in there until my exit strategy triggers again because markets do not have to be logical. It is for this reason that I do not try to out guess or out maneuver big shifts in the market. They may never come.

I think too many people, pros and do-it-yourselfers, get too caught up in trying to time these things based on gut. Realistically I think you might be able to be right about this sort of thing once or twice. The rest of the time not. I think it is just simpler to let the market drive the bus.

No one needs to be out at the very top nor in at the very bottom.