Fugly Times

Strange how we get a big rally today. What exactly is the market pricing in? A better than expected Christmas perhaps? I doubt that will happen but who knows. I am dealing with massive losses and wondering if indeed that long term investing is dead. I doubt that we will be seeing average annual returns of 10% in the future, unless foreign growth can remain strong. If the Gov does decide to tax 401k's, as unbelievable as I think that will be, look for a massive selloff as that style of investing will be badly damaged, in fact I believe that the stock market is badly damaged as shown by the performance of the S&P500 over the last 10 years. I fear we are heading toward a Japan scenario.