While I wish this stage would end, I think the market will continue to be volatile and choppy for an extended period, before it finally has a major decline. Here are my reasons:
Right now, the current situation feels a lot like early 2002, with some still confident of a rebound to come. I was still actively buy stocks on the dips, which had worked well up to 2001. However, 2002 turned into a bad year for me and many other investors. While I hope I am wrong, 2008 feels a lot like 2002 to me right now. At this point, my plan to is to continue to hold what I own and not initiate any new positions.
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This is not financial or investment advice. Please consult a professional advisor.