I don't think we are in a recession at least not until unemployment rate begins to climb.....thus far this hasn't happened except for in the financial and housing sectors.
The major determination if the rest of the sectors fall is if the American consumer stops spending, with this the consumer confidence index is very important. Benarnke's comments to congress this afternoon will in the vain to support consumer confidence.
If consumer confidence falls, then recession will follow and qid investors will make money. If not, then we maybe at or near the bottom of the market drop.
We are nowhere near a bottom. Housing what was leading the economy and that went bust. How long to recover, who knows for sure? People losing their homes, people losing their jobs....markets go down until we see a silver lining or stocks get irresistibly cheap.