#1 Investing Rule, Buy LOW & Sell HIGH
#2 The market can be irrational longer than you can be solvent
#3 NEVER CATCH A FALLING KNIFE! - IF you want to buy now go for it. Just don't be surprised when you get burned. I bought a GLD $140 put when GLD was at $154 3 months ago. I didn't try to time the top, I waited to show a downward trend. Today my $4 per share put is worth $23. I am not going to try to time the market when I go long. I will wait for a solid month.
#4 Investments take the stairs up and the elevator down.
Sentiment: Strong Sell