[palmer]

sitting on a pile of cash

Let me know when you decide to pull the trigger, I am curious. My market analogy is the 1970's where there were interesting buying opportunities but a series of upside-down "U"s. So you had to get in early because you never knew when the rally would peter out.

[expat_panama]

www.investors.com has a darn good approach of defining trends.   Their research has found that when we get a jump of a percent or more in at least one major index, and it happens after 4 up days, then we can call it a "confirmed rally" and we can start working our way back in.

Click on their  IBD TV - their "Market Wrap-up" with Ken Shreve comes out every day spelling everything all out.  Over the years my experience has been that they've been both consistent with themselves and good predictors of market movement.

Keep me posted on your take...