I would argue that you really have very little knowledge of how the markets work. Being bullish in the face of the biggest bear market we've ever seen shows a total LACK of knowledge.
Market slipping because of bailout uncertainty.. hmm does that mean when it is passed by senate the market will surge 4% or more? http://finance.yahoo.com/news/Wall-Street-slips-amid-auto-apf-13809184.html
"But the markets are already 20% off the lows and the econ data hasn't showed any signs of improving. When times finally appear bullish the markets may be 50% off the lows. The recovery is priced into stocks long before it happens so you need to be bullish when things appear at their absolute worst. When an economic recovery is confirmed most the potential upside gains are gone." (Stock_Trad3r) "But the markets are already 20% off the highs and the econ data hasn't showed any signs of worsening. When times finally appear bearish the markets may be 50% off the highs. The selloff is priced into stocks long before it happens so you need to be bearish when things appear at their absolute best. When an economic downturn is confirmed most the potential downside gains are gone." (re-w3rded) I think this shows stock_trad3r gave some very good advice in his quote, however he failed to apply his knowledge during the strong DOWN move over the last 8 months. Taking his idea and shifting it around could have made him a FORTUNE........instead he chose to advocate buying dips and holding onto long stock while prices cascaded down.
buyers stepping in at the magic 2:30 mark. ..cover all shorts now could see a 150 point or more rally in the final 70 minutes.