This buisiness of not trying to time the market is ridiculous. Buffet always claims not to be a market timer but what's he doing now? He said he's not buying, holding more cash than usual and waiting till the market is undervalued and he said it's not yet. He said he's waiting for some bargains. I call that timing.

Jim Rogers also claims not to be a market timer yet he's said he's been bailing out of the US market entirely since last summer or earlier. Why? Because he thinks it's topped out. Call that what you want but really, he's timed his exit.

I have been watching these guys on CNBC yap for months about how you can't time the market. That there are fantastic deals in banking stocks and that you have to consider that a year or two from now these stocks will be higher. Maybe, but in 3 months they'll be lower and possibly much lower.

Timing is critical to investing. You have to buy at the right time and sell at the right time. Can you get tops and bottoms correct all the time? No. But the closer you get the better you'll do.