Did it ever occur to you that 300-point rallies are weird? That it seems like we have more wild swings than ever before? And furthermore, did you ever attempt market timing in this kind of market? The hardest part of portfolio management from my perspective is trying not to get rattled when the markets have strong up days. As it turns out, there has never been a 300-point rally during a bull market. Yep, that is correct. Those 300-point days only happen during bear markets. It has happened six times in this bear market and it happened twelve times in the last bear market. Does that mean we are still in a bear market or are we moving into a bull market? It is too early to tell if things are changing but for now, we need to assume that this is possibly a bear market rally. Personally, I don't see how it can be any different. Until we get closer to the end of the recession and the financials start to stabilize, we probably will only see further erosion of capital. Be prepared and be willing to pull the trigger fast.