Patience is needed

I have to admit that, the current wave 3 down leg caught me of guard in terms of its strength. However, based on the time cycle, a rebound should be very very close.  All we need is a little bit more patience and don't be shaken out before the rebound.
Always remember to keep a lot of cash and only use a very small amount of the cash to do any bottom fishing if you want to. Even with that small amount of so called "gamble money", we should put them into action lot by lot, never in a whole trunk. MARGIN IS POISON AT THIS TIME. After all, this is still a very dangerous bear market.
I will also take this rebound to reshuffle my portfolio.
The worst is yet to come.

[股帝]

This is a wave 3 down leg and it's far away from over even if it drops to 7000. It will rebound and resume again. Never year, there could be some strong rally. However, I do believe the down trend will resume after that.
I have been expecting a long deep bear. But this down wave did surprise me.

[HappyQueen]

Thanks!

[egghead1]

I think this market surprised everybody, including the bears. If S&P drops all the way to 800 and Dow to 7000, would you think it's the end of the bear market? Or do you still think there is more downside next year?