I believe we are going to see a general bottom in the S&P 500 in the area of 1340 give or take 10 points up or down in the coming weeks or month. I don't think we are going to fall off of a cliff. From there I believe we can and should rally back to 1500-1550 in the S&P 500, a gain of about 15%. From there all indications would be for the beginning of another stock market crash.
This is the time I truly fear for investors working with other advisors. Most advisors have a terrible track record (or don't even believe in the notion) of sitting out of the market during market crashes. I fear it will be 2000 or 2008 all over again. At times you just need to take your gains and get out of the market and protect yourself.
"Those That Do Not Learn From History are Doomed to Repeat It."