A coupe of questions for the protagonists:
(1) Agip, I am on record here is being officially flat in the S&P Futures as of May 22, when I pointed out that there was a key reversal in the market (see my thread from back then), which is probably the most negative single chart patter there is. I predicted either a correction or a 2008-style top, and I called it exactly--a correction of 5.4% followed immediately after the signal. If Klondike's missing 5% is so bad that you're LOL that he didn't cash in his chips and get long, a month after my signal where you LOST 5.4%, why didn't you sell? The rhetoric cuts both ways, doesn't it?
Bottom line, whether you're a buy-and-hold, value, or technical investor with a long-term orientation, a little statistical noise doesn't mean much. Does Warren Buffett worry if a company he buys through Graham-Dodd methods is underwater for a couple of years? Of course he doesn't.
(2) Klondike, while you claim to have gotten out in 2008 and missed losing 300K, I was SHORT. I MADE that money you didn't lose because I was using a tested, structured methodology. I went short at 1401 and long at 976, stayed long until 1630 using trend-following methods. If you just sold somewhere around 1400 and didn't buy again, you could end up like the people in the 1987 crash who were "unlucky enough to get their broker on the phone so they could sell at the bottom"--and many of them didn't buy back because they were too scared because of what they lost. This is the kind of thing that often happens with seat of the pants investing/trading styles, and any good broker can tell you that.
The market is not a gambling casino, just like Smith and Wesson does not design products for Russian Roulette. It becomes what it is because of how you use it. Now buy-and-hold no load index funds has been so successful this decade that Bill Gross has beaten the Vanguard Total Stock Market ind Index 500 funds for almost 17 years now with an actively managed bond fund, and there a multiple strategies that have worked over time. But even in futures trading, there's a saying that "the big money is made in the big moves." The people who make the big money in the long run are people who have structured methodologies proven to work over time by back testing.