11:45 AM That little cliff dive in stocks in the last couple of minutes? "No substantive progress" has been made in talks with the White House, says House Speaker Boehner. S&P 500 back to flat after being ahead 0.5%
The cliff will be eliminated soon. The market will enjoy a big (though temporary) rebound. HPQ which currently offers a yield of 4.3% is trading at an astounding P/E of 3.1. THis may actually go lower to the low 2's, which is unheard of in a major company like Hewlett Packard, But the loss in 2012 which was a shock, should be corrected in 2013 and should recover to earlier levels by 2014.