OK, maybe not yet.

Yep, September was a fantastic month for stocks - actually the best September in seventy years - and my belief that vastly better times are ahead is unshaken.

Stocks were up about 10% and virtually all portfolios are showing nice gains for the year. 

It is impossible, except in retrospect, of course, to ever identify the turning point. This could be it, but that is unlikely. There are still many, many problems in the economy which will take a while to work out and these may or may not be reflected in stock and bond prices along the way. As I always say, 10% corrections are to be expected (welcomed, actually), and greater declines WILL happen.

The REAL lesson of this past September is, I believe, a reinforcement of what Warren Buffett has always said, that the best thing about stock market prognosticators is that they make fortune tellers look good. ALL the pundits were crying doom and gloom and urging you to hide gold coins in your mattress. As often as not, that turns out to be the best buying signal of all.

The simple reality is that no one can reliably predict the short term fluctuations in the market. The fundamental truths do not change. The Intelligent Decision is to establish a well thought out plan and stick to it.