Stock Market Snapshot as of Oct 10, 2008

"Markets in free fall" was a common headline this past week.
The S&P 500 is now down about 40% since October 2007.
It is difficult to stay on the sideline and not go bottom fishing.
Once the panic selling will be over, once everyone who must capitulate will have done so, then the short sellers will start covering, the buyers will start buying, and the bottom will be in. Until then I will try to wait patiently on the sideline.