Simmtann really hits the nail on the head, much like W Buffet's ' Be fearful when others are greedy but be greedy when others are fearful'. I hope to employ his strategy soon.

Fishing for the market's very bottom, if we find it at all, can be immensely rewarding. But it's like looking for a needle in a haystack. More often than not, we'll end up buying near the base, which is still creditable - if only we can pluck up the courage to "go solo" against the herd. Because in a falling market, sellers are out in force, frantically selling while the buyers are rapidly diminishing. Buying is the last thing on your mind when the whole market look like offloading their stocks at vast discount. It's so much easier to go along with the bullish crowd who seem poised on buying everything on sight. And most punters appear to breathe more easily buying overpriced stocks in a rising market than they do discounted ones in a sharp tumble. If you choose this reverse psychology strategy, be prepared to eweat your guts out. You'll start feeling very edgy when the soaring market is in seventh heaven 'cos you know it's reaching the end of the road pretty soon. Conversely, you spring into life when the market is dead and buried 'cos you know you can finally get to buy stocks at bargain-basement prices yet again. To start with, you'll need to locate where the major support levels - and resistance - are with the aid of the charts. Bear in mind that it's virtually impossible to ride the market's short-term waves - the day trading or hit and run short bets. You win some, you lose some but will almost always end up in a deficit. It's just not worth your time, effort, the paltry profits, if any, and the high levels of anxiety that come with it. So go for the medium or long-term trades if you don't want to meet your Waterloo. Best of luck to one and all!