makemoney18, it's good to see that we both agree on roughly the same time frame. I began investing in this bull market, so I feel that is why I'm defensive. Understanding and looking back on the past bear markets is different than being present during a bear market. I can understand and focus on the past, however experience is no match. I know what to look for, but I don't know what to expect from the outcome. I'm sure you understand where I am coming from.