Underwater in the Stock Market

Sleepy Bear
Welcome to the biggest bear market many of us have ever seen.

Wow. The last seven days (really five months) have been tough. Look at this market, really in most people's lifetime this is absolutely unprecedented. Every single time that I thought we were at a floor the bottom fell out. Then it fell out again... and again... and again. Clearly right now even with the weak overall fundamentals much of the trading is going on emotion. It is also apparent that this bailout/rescue package just isn't going to get it done at least not yet. Who knows if the plan which is in the works to buy an equity stake in banks will be successful either.

I was thinking today right now will probably end up being a pivotal time ten, twenty plus years down the road. The reason I say this, there are a lot of people who have kept their money in cash and can buy the deep discounted stocks that are out there. That's what I would like to do is find the good values. However there are two things holding me back. First, is this really the bottom? I don't know, I have a hard time seeing this market go further down, but I thought that the last few times too. Secondly, even if the market starts returning, it will be a challenge to pick stocks that are a good price but aren't land mines which will explode in your face down the road. That is the key. If I knew I would do it. If the finest financial minds knew we wouldn't be in this mess (as much) and we'd be better off.

Right now my goal is patience and hopefully with a little luck I'll be able to get back into the market (with fresh money) at the right time.

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