The rest of 2006 will be flat to down. Then January will come and the real sell off begins. I dont need to rehash the reasoning, you can go to www.safehaven.com and you will find a list of articles with a lot of technical facts/opinion. The one thing I have not read yet in any blogs is the margin interest. I have looked through the NYSE website and I am under the belief that more margin is being used now then at any other time in history. It appears very similiar to the year 2000. Even the slightest fear will bring down the market now and it will be worse then May. You will see folks running to sell out of their positions because they are overleveraged. The only thing holding it up now is the fact that people are clinging on to gains into the new year and will sell once January hits. I am currently short Apple and going to research some obvious shorts right now. I see a lot of plays in puts that would be good as well. I say the S&P500 and DJIA issues will fall about 10-12% on average. The Nasdaq issues will probably go anywhere from 20-30%. The S&P100 will fair well, but will probably still have a loss of about 6%. I can only find a few stocks that would probably be good longs. Only a very few. The large cap value issues do appear to be VERY overbought as well and trading above their normal P/Es.