I've pretty much recuperated what I lost in the August correction. Market sentiment is terrible, if Italy doesn't hit the rocks, it looks like it will go up next year. Most of the leading economic indicators in the US are still positive. Most likely flatline until next year before it continues upwards. Since I pick from the bottom up, market direction doesn't really make a difference. It's funny how the markets work. A lot of times bad news is ignored if the underlying economy is doing ok.
The jargon for it is called climbing the wall of worry.