From The Big Picture:

Is this the real thing, or just another Bear Market rally?

So far, we've had 4 runs of about 20% each.

Here are 3 things to keep in mind:

1) Follow the Playbook: The smart investor's playbook is very different in bear markets than bull markets. In a Bull Market, you buy the dips. Lower prices are an opportunity to buy into equities at cheaper valuations. Most sales are disappointing, as prices eventually go higher. Buy & hold is the simplest, most cost effective investment strategy.

Bear markets call for a very different set of plays...

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Crux note: Some more bear market survival posts:

A stock strategy that works in a broken market

Income alert: A safe strategy that will yield over 15% this year

Profit from the next major industry crash

Short Selling - The closest thing to REAL free money you'll see this year