The market is a total mystery to me, and I'm assuming to the majority of the rest of you as well, or we wouldn't be here trying to make a buck or two off it.
One thing I do know is that hope has little effect on it - although luck might! I've only lived through one big bear market, and that was the tech bust of 2000. I had gotten in about 6 months before it all unravelled and I remember quite clearly the unbridled enthusiasm, confidence and arrogance of those who just KNEW it would go on forever.
Make rational decisions based on the knowledge you can scrounge up, and hope if you wish. We've all got our own pain thresholds. Sell if that's what lets you sleep at night. Hold if you have time and patience. Buy if you've got a bit extra money to play with.
Best of luck to you all!
Camino