You are correct but we are fighting guys with heavy weapons. Few have the resources and patience to wait it out but in my opinion this is the ONLY option. There is incredible risk in virtually all markets now. The Fed has intentially made this incredibily difficult as your options are to assume optimal risk or accept virtually no return. Most speculators refuse to wait for the eventual leveling of all markets and in the words of Chuck Prince (CEO of Citi during the crash) keep dancing as long as the Band in playing. The Fed is to blame for all of this but they and the big banks (who BTW own the Fed) will walk away fat and happy. Good luck......we need it.