Not sure I completely buy that, yes there are some, but also the DOW hasn’t completely dropped significantly yet, and a DOW 9000 is all I ever expected. Will more aggressive selling happen before Dec 31 is the big mystery.
For example ... The increase in tax rates on dividends isn't likely to result in huge increases in taxes paid by "the wealthy." It will simply cause publicly-traded companies to re-assess whether they even pay dividends at all -- and how much they pay. A company like ABC, Inc. that is profitable and has lots of cash on hand may simply opt to buy back its own stock -- thereby driving up the value of the remaining shares that are held by shareholders. Those shareholders can then sell their stock later at a higher price and pay any capital gains tax on that sale. Even at the higher capital gains tax rates they won't pay any more in taxes than they would have under the "Bush" tax rates on the dividend they would have been paid before.