You can always bite at the same entry price as today, when it turns, and comes back up...no need to buy now. The american consumer, and the european consumer, are just now beginning to feel the crunch. It is going to be long and deep. Anyone who thinks that the feds actions are going to save the day are not putting enough thought into the equation - bank's hands are tied, they will not be able to sufficiently lend for at least another two years, and even when they are finally able to lend, why will firms borrow without having a consumer? With our two-tier wage system, where the top percentile, $75,000+ consisting of far fewer individuals their is no buying power to be had for several years, if not decades. Mickey-D's, and Walmart do not produce employees with any where near enough jack!
wadda - do what I do with stocks I'm interested in. Put in good until cancelled limit orders. If the stock drops, then you get a fill. This way you can just forget about a stock. Every week or two go through your orders and decide whether there was any fundamental change to cancel the order.
Personally I don't think we will see new lows (below the Mar 17th low near $36), although it could trade in the $38-$45 range for a long time until we get a better handle of the economy. With the rougly 3.5% dividend yield I don't mind waiting.