One morning before work about a 2 weeks ago I switched from CNBC to Fox News to get a weather update. I was a little early, since Mike Woods usually comes on at about the 8th minute of every ten in an hour (6:18, 6:28, 6:38…) and I caught their quick daily business analysis. The lady reporting was ecstatic about 2 consecutive up days or a heavy up day in the market and exclaimed, happily, proudly, “The bottom is in! Now is the time to step in and buy into the market and the market has presented all the reasons why this is true!” She concluded by plugging her blog. As I finished lacing up my steel toe trading boots, I could only shake my head and feel sorry for the average investor who will go run and that day invest some of their hard earned money because of the opinion of this professional’s comments broadcast on national television.

Not to just get on Fox though, I listen to CNBC every morning and am constantly bombarded by the same statement of “market bottom”. I hear talk of a “bottom being put in” and certain numbers which since have now verified the usage of the dreaded ‘r” word that the next numbers will be that of the “bottom”. Only recently have I heard what I thought is a proper conversation and ideology about our financial crisis: finding reason for our failing economy and addressing those issues specifically. Identifying all of those issues and fixing them one by one will build what needs to be rebuilt: a foundation for our economy which in turn will stem a market bottom.

The thought that our market will bottom and simply turn around was not just adopted by the average investors and random Fox newscasters, but also by members of our Federal Treasury Department. It seems as the first bailout tossed out there by Paulson and friends was done so with the idea that it would show that the government is alive and watching and willing to help. In turn though, it seemed to just confirm the inevitable; our failing economic status compiled by a number of different factors that were never specifically addressed. It seemed that other failing companies were overlooked, as big investment banks heeded the grunt of the losses but we see long standing media companies getting hurt also. All of this has to give way that there are serious problems that still might have not been addressed, since the ideas passed by most right now outside of “STAY AWAY” have been meant with constant selling.

So what am I saying in all of this? I guess I am still issuing a warning not to take a simple level or number or thought that “things are down a lot” as reason to say “things will now go back up”. Adopt the mentality of our failing economy like a failing corporation; different issues and flaws in a once profitable business plan all giving way to other possible issues that all mount a surge of negativity across the board. Until this is all figured out and another failing sector is not a surprise, do not be surprised when the market surges down further to levels below this one now. At the same time, do not be scared with your money, rather be smart with it. Opportunities are presenting themselves everyday. But to dodge falling objects you have to be nimble and light on your feet unless you can bear the weight of being hit. However, to try and catch them as they are gaining speed on the downside will only scar your hands even more.