Maybe this will help explain it. I have been averaging back into my company PS/401K on down days and I'm about 1/2 equities, the rest cash. I went entirely to cash about half way through the fall in equities. My reason is logical, although the logic has little to do with common sense. My logic has everything to do with the herd mentality. We are being fed a steady stream of bottom forming talk, and statistics showing the rebound out will be short and fast. I know there is a lot of cash on the sidelines trying to time the move so I think any steep down move will be short or unlikely to happen. I think a lot of the "scared" money is gone. Greed, being the nature of investing, will drive people back as soon as they see the market moving, without consideration of underlying economic fundamentals. The herd push will be reinforced by the talking heads promoting re-entry. I also know that there is a lot of institutional money, that has little choice but to remain in equities. I believe that this cash has put a "resilient" (for lack of a better term) bottom in place. I expect to be close to 100% in before inauguration day.
I'm also buying DIG, will be buying TBT soon and a few select individual gold issues, oil and gas issues and a bit of MSFT.
I'm very sour on the economy and think the problem is only going to be worse in the near future (2-4 years). You don't fix a debt driven problem with a new mountain of debt.
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