How sad is this? The diligent investor who started investing into the SPY in 2006 is now staring at a loss or break-even at best. There are some scarier charts such as the DVY and the PEY. Both of these ETFS were bandied about by the CNBC stock pumpers for the last 24 months as the safe plays that everyone should get into to protect them from market downside. Now the PEY and the DVY are both experiencing their year 2001. I will actually invest into the PEY and DVY in the future, that is, when they have lost a bit more of their value. I say probably by the end of this year or middle of next year might be a great buying opportunity for these ETFs. As for right now, LOOK OUT BELOW!!!