The stock market must be like sports.  Fans of either one can find a statistic for just about anything.  I say that because, over the weekend, I read a market analysis from Rusty Vanneman of E*TRADE Capital Management. 

Vanneman said September “easily ranks as the worst performing calendar month of the year” and “has the largest average loss.”  He goes on to say that the potential reasons for the poor performance are not “entirely convincing.  Some just write it off as a market superstition.”

Vanneman noted an August investor survey revealed the return of  ”bearish” sentiments.  He goes on to explain a couple of reasons for the pullback.  One being “investors are human and aren’t always rational.”  The other is something called the “recency effect” which “basically states that investors tend to overemphasize the probability that a recent market event will repeat itself.”  He questions whether people are “overstating the risk of another dramatic sell-off”.

Here’s the point of his analysis: September might be a good time to “add to our stock market positions.” 

Of course, this comes with several caveats and disclaimers – which I will offer here –  ”The above Market Commentary may contain certain forward looking statements which should not be mistaken for recommendations or considered an offer to buy or sell specific securities.  None of the investment ideas or statements expressed should be viewed as personal advice.”

Saturday and Sunday look Fantastic! High pressure will build in and bring us dry and sunny conditions. We have several events going on across Central Indiana, just to name a few the Penrod Art Fair at the Indianapolis Museum of Art. Great weather with mostly sunny skies and a high around 80º

And for Sunday, if you plan on Tailgating the Colts game.. you are in luck! The great weather will continue for Sunday afternoon. Highs in the lower 80s and Dry!! Hopefully the roof will be open!!

The dense fog advisory for most of Central Indiana has been extended until 11AM:

Some of our camera locations show the varying density of the fog, but visibilities are at zero in some areas, including Indianapolis:

The fog will slowly burn off through the morning…still a chance of a shower later today.

WHITE RIVER PARKWAY WEST DRIVE TO CLOSE DURING SEWER PROJECT Residents,
Commuters Asked to Alter Routes Northwest of Downtown

INDIANAPOLIS – The Indianapolis Department of Public Works (DPW) is
requesting that residents and commuters alter their driving in and
around the area northwest of downtown. This week, White River Parkway
West Drive is scheduled to close for construction of the Crooked Creek
Area Sewer Improvements Project (Belmont North Relief Interceptor).

CLOSURE LOCATION:
White River Parkway West Drive from 10th Street to 16th Street

CLOSURE DATES:
On or after September 10 through May 2010

DETOUR:
September 10-13: Michigan Street/White River Parkway West Drive to Tibbs
Avenue to 16th Street/White River Parkway West Drive

September 14 through May 2010: 10th Street/White River Parkway West
Drive to Tibbs Avenue to 16th Street/White River Parkway West Drive

BUS IMPACTS:
IndyGo travelers who typically use the White River Parkway and Sheffield
Avenue bus stop for Route 37: Park 100 will need to board at the White
River Parkway and Pershing Avenue bus stop.

Residents of Riverpointe Apartments will need to board at the 10th
Street bus stop.

OTHER CLOSURES:
Additional traffic restrictions will be needed during construction. To
receive traffic e-mail updates or to view project details, please visit
www.indy.gov/CrookedCreekSewer

DPW is constructing the Crooked Creek Area Sewer Improvements Project
(Belmont North Relief Interceptor) to resolve sewer capacity problems in
the existing Belmont North Interceptor. One of the city’s most
anticipated and largest initiatives to improve public infrastructure,
the new seven-mile Belmont North Relief Interceptor will be built from
10th Street/Miley Avenue to Juan Solomon Park near Grandview Drive/Fox
Hill Drive.

The Crooked Creek Area Sewer Improvements Project is part of the city’s
Clean Streams-Healthy Neighborhoods program, which is designed to curb
raw sewage overflows into rivers and streams, address chronic flooding,
eliminate failing septic tanks and improve quality of life in
Indianapolis neighborhoods. For more information about Clean
Streams-Healthy Neighborhoods, visit www.indycleanstreams.org.

You can vote for Angela Buchman.

You can vote for Gene Rodriguez

You can vote for Jeane Coakley.

Just vote in the Most Beautiful Eyes contest.  You will be asked to make a contribution to Prevent Blindness of Indiana.  This is PBI’s fundraiser to help support its essential eye care programs.

In the last few days, I’ve heard a couple of economic analysts make the same prediction: the success of Cash for Clunkers may lead to slow sales at Christmas.  The analysts say many of the buyers of those new cars didn’t have car payments — until now.  That means, now, they will have less money to spend for the holidays.

I asked local financial expert Peter Dunn what he thinks of that prediction.  Here’s his response:

Sure, it’s supposed to be warm, today.  But, in my inbox this morning, I find two signs of changing seasons:

1. The City of Indianapolis is publicizing upgrades to the snow plow fleet.

2. Auditions for a popular talent show have been scheduled.  Downtown promoters want to find performers for the Circle of Lights.  They’re already thinking of the holiday season!

If you’re interested, auditions will be held on Saturday, September 26 — 9 to 11:30 — at the Electrical Training Institute.  Another session will be on October 1, from 4 until 8pm, at the IBEW Hall on North Meridian, downtown.

The rain is now moving through Shelby and Rush counties.  The line extends to the north to just north of Muncie and into Hartford City.  To the south, the line is moving into Columbus and Bedford.

Today will turn out to be another nice August day with lots of sunshine, highs in the middle 80s and moderate humidity. The nearest rain is in Wisconsin. Watch out once again for some patchy fog early this morning. The weather should be great for the Colts-Vikings game this evening.

The weekend will be very warm and more humid with highs in the upper 80s. It will become more humid too. I am keeping in a small chance for a pop-up thundershower on Sunday. We should see a better chance for showers and storms during the first part of next week. Have a great day.

We’re waiting for video to come back from a town hall meeting in New Castle.  It’s no surprise that the host, Congressman Mike Pence, expects health care to be the hot topic.  So, until we get to see what happened there, I’m reviewing notes from Senator Evan Bayh’s discussion of the health care debate, yesterday.

The Senator acknowledged the “strong opinions” we’ve seen expressed in so many of the stories about the reform debate.  He said he’d be “a little upset, too”, if he thought some of the controversial proposals would become law.  But, he said, “some of the bills that have been voted on in Congress simply aren’t going to get done.”  He said there will be no “death board” leading to euthanizing senior citizens.  No insurance mandate for small businesses.  And, no tax increase “for the most successful people.”

Bayh said he hoped to offer “a little reassurance” as he encouraged people to reserve judgment about the proposals under discussion.  Obviously, he’s seen the angry voters at some of the meetings.  He said he’d prefer to see the meetings conducted in a respectful way that does not silence people with differing opinions.  He also seemed willing to look beyond the disrupted meetings.   He said ”it really doesn’t matter whether these are organized protests or authentic, natural protests.  What matters is, at the end of the day, we deliver a result that will work for the American people.”

Here’s what Bayh believes will work — or what he wants from health care reform.  He wants more security and stability for people who have health care — so they won’t lose coverage, if they get sick.  He wants a plan that keeps costs down, “so it’s more affordable.”  And, he wants a plan that doesn’t add to the deficit.  ”If we enact a law that does those three things,” Bayh said, “this will be a success regardless of whether these activities were orchestrated or not.”