MOTLEY FOOL ASKS "IS THIS THE MARKET BOTTOM?": Of course, no one knows, they just want to pull you in with a title like that.  Lotta love for Buffett, but they do make some solid points:

1. It's very difficult to time the market bottom.
   
2. Market timing isn't necessary to achieve great returns.
   
3. Stick to a proven stock-buying strategy. 
   

You can't time the bottom, but many think we are close.  If the stocks are "cheap" and you are willing to be patient, then this is probably the buying opportunity of a lifetime.

As a friend of mine said, this is a time to pick the survivors and then be willing to be patient.  When things turn around, the survivors will perform well and you should be rewarded.

Another interesting insight from the article is:

Remember, we're now 14 months into this recession -- not at its starting point. So for the sake of symmetry, let's ask how long it actually took new money invested 14 months into the Depression (January 1931) to break even. According to number-crunching I've done using rare Ibbotson Associates data, the answer is less than five years. And an investor who continued to purchase stocks on a monthly basis would have broken even in little more than two years.

Not a get rich quick strategy, but those days are over (at least until the next bubble) and that whole mentality is a big part of what got us in to this mess anyway.