With the ferocious rebound/Sucker's Rally yesterday and a less-bad ADP employment number today, it looks like we may make it into late spring or early summer before the markets threaten to tank again.
I've said this before, but want to emphasize it again - get your fiscal house in order. This is a delusional rally based on expectations that have little foundation on corporate profit, balance sheet health or consumer spending trends.
I am hoping for a few months of optimism, one last positive socionomic wave of positive emotions and belief in the Sugar Daddy Federal Reserve theory, something that will give us all a few more months of reasonable calm in the markets. When people wake up and realize that there is a reason Command Economies like the old Soviet Union failed, then the Fed's efforts to gain regulatory authority over wide swaths of the investment community will be seen in a much darker light. Until then, let them eat cake while you prepare yourself.
I still expect 2008 to be The Year Everything Changes, but you still have time to position yourself economically (and geographically) to prepare yourself for massive volatility and to prepare to take advantage of that volatility while others stand still in shock.