The S&P 500 is flat after falling by as many as 8 points.
Perma-bear Bob Janjuah, from Nomura, says stocks are ‘open to’ a spike to 1500 in the 3-6 months after the fiscal cliff is sorted out. But first, his major initial target is 1300. In the longer term, he expects the S&P 500 to fall to the 800s.
