Where did you go? You were spouting doom and gloom and giving us lagging indicators about how bad the economy was and now suddenly you disappear and won't respond to questions? Your TTM PE numbers were bogus, I'm sure you now understand that. You should never judge the future based on what already happened, you need to be forward looking. Thus, you missed the rally from S&P 666 to 1015, and the technicals say if we break 1017 then we move up to 1050. My personal opinion is that we will hit S&P 1200 before 2009 is over, do you really want to miss any more of this run? That would be almost a 100% gain, and hey sure that might be overheated but what if, just what if, the 'recession talk' was overheated as well?
How do you explain over 70% of companies reporting their ESP numbers surprising to the upside? Will you spin this or admit your oversite?
Indeed, if we continue to rise, buy and hold would have been a wise idea if you bought all the way down and all the way back up. It would have been painful, but over time you would make much more if we do eventually get back to S&P 1550.