I have a feeling the Bush-Greenspan meeting will go something like this. "Hey Al Baby, given the disaster that have occurred in New Orleans and along the Gulf Coast, I think it would be in everyone's interest that you consider stop raising interest rates for a while. After all, you are going to retire pretty soon, and you don't want to people to blame you for tanking the economy."

So, expect an announcement soon that the Fed will temporarily halt its tightening of short term interest rates. We should see a psychological boost in the market as well as a nice rally in Financials and the Homebuilders.

Also, look for a pop in selected Gold stocks and the S&P 500 Index. If you want to speculate a little, look at Newmont Mining (NEM) for a potential pop.

Also, Wal-Mart (WMT) reported a 3.3 percent increase in sales for August. I have got to believe that WMT will be a big beneficiary as the economy softens. When times get tough, consumers do not shop at Saks 5th Avenue and Nordstrom's, they shop at Wal-Mart. Here in the south, WMT is an American icon. When people get bored, they go walk around Wal-Mart, and rarely do they leave empty handed even when they had no reason to go.