Bongo - when we were pulling out of the bear market five or six years ago, that's a question that was being asked a lot. But we only knew the answer months after it became clear that the recovery wasn't yet another 'bear market rally'. The Dow has had a good run recently, but it there's a case which says that the Credit Crisis has gone through its worst, the Fed are hinting at another 50 basis-point cut, and unless another bank/credit market blows up, what's left to provide the downward catalyst? Maybe a recession if it takes hold, but will it? Unfortunately, if I knew the answer in these types of situations - rather than all the questions - I'd have retired years ago :-)