We better be getting there, Cold Heat. This is getting painful even for people who have largely been on the sidelines for the last few months.
Personally, I will be looking to get back into equities in a big way when I think that credit markets show any signs of stabilization. I’m ignoring all stock market action as just noise. Just my opinion. Good luck to ya.
The thing is, that the entire planet has to de-leverage. It started with the brokers, spread to the banks and then to the blue chips and down to the small caps, and as that occurred, the investor has de-levevered.
There is still perhaps some more to go. We are only back to 2003-04 levels. But, there are some great buys out there. To get in now you have to hold your nose and jump, expecting to take some more downside. If you can do that and you think we will have a turnaround in the medium to long term, 1yr-5years, then I would be a buyer and just not look at it every day.
As my savings are pretty much gone, I won't be buying much, but I will be dollar averaging in as time passes.