The problem with this theory and every single other Apocalypse-a-day theories somehow involving astrological phenomena is simply that they take a long ass while to happen, and then take an even longer ass while until they're done happening.
- A geomagnetic reversal, for instance, takes 5000 years to happen, not a single day, and it won't mean that we'll be stripped of our magnetic lines either, magnetism doesn't simply vanish into thin air because you're spinning a magnet around.
- Planetary alignments happen like every 30 years, and we're still in the same damn orbit we've been in for the last million years or so. Nothing is going to change our orbit.
- Planets within our solar system are pretty easy to detect and study nowadays. All you dumbasses talking about a mythical planet coming out of nowhere to smash into earth within 3 years can shut the hell up.
- The chances that our planet will catch an asteroid or comet or whatever at this point is so small that you might as well hope for the horsemen of the apocalypse popping up and doing whatever other end-of-the-world things people have been whining about. The only actual threats would be objects outside of the ecliptic merging into our orbit, but there aren't a whole lot of these left and having an asteroid hitting the earth is like taking shots at a pin head with another pinhead from across the road, except in slow motion since there aren't allot of objects moving at the speed of light these days. There are only about 2 asteroid threats out there right now and they might maybe not-really come this way. They won't make it in time for 2012 though.
A possible exception to the long-ass while rule would be the effects of a very close, unfortunately well oriented Gamma Ray Burst, but the expectance rate of these is one burst per billion years, so don't bet on it.