One more rally, then crash?

Increasingly, the general opinion among analysts is that the bull market has come to an end. It is in the charts.

"We believe we are seeing pretty clear signs that the 2009 to 2011 bull market is over and that the bear is just starting to get its claws into the market," writes Mark Arbeter, chief technical strategist at Standard & Poor's, in commentary on Friday. "While we do think a bear market has started, we think we may see one more counter-trend rally, which could be very strong. Once this forecasted rally ends, we think the next leg of the bear market will show its teeth."

Expressing the same view, Jim Rogers commented "I'm expecting a rally when the air clears but I don't think it will last that long. There will be more problems, especially from European and US markets... Still, I happen to think this panic is overdone... people are throwing investments out the window and that's not how stocks, bonds or commodities work. Even if the world is coming to an end, it's not going to happen in a week. Normally, when you have panic in the markets, people don't tend to buy, even when it is usually the best thing to do. It's very hard to get over that psychological barrier but it usually pays off after a while.

Lessons to be drawn: Wait very patiently for the rally, which may take some time to develop, then wait further for peak rally prices, and SELL all my shares, allocate some funds for shorting, and more funds for LONGING at bargain prices when the bear is out in full force. Remember, GET OUT from all stocks once the counter-trend rally arrives and don't overstay the rally.