Bleeding badly

My account has been bleeding badly as I'm sure yours has to. A few days ago I put a bunch of 3% lowere stops on many of my positions and they have been selling off. I also bought some more gold and silver. My account is in transition from one brokerage to another and I have a more limited view of my account. It has a lot of cash in in now and I'm planning on keeping more "real" assets for the near term.

I wrote an e-mail yesterday to my dad about my thoughts on the current market problems.

So, if this is as bad as everyone is saying which is that it is the worst market conditions since the great depression I decided to do a comparison to then and now and maybe try and figure out where this thing will bottom out? (if it really is that bad?)

http://finance.yahoo.com/echarts?s=^DJI#symbol=^DJI;range=my

October 1, 1929 343.45
April 1, 1932 42.82

A drop of -88%

July 1, 2007 13,895.62
January 1, 2010 1667.47

Let's hope it's not as bad as everyone is making it out to be!

My guess was that it would drop to 7500. 1667 seems inconceivable, but I'm betting it seemed pretty inconceivable back in 1929 as well.

The one thing that really got me thinking about this was seeing Bank Of America stumble yesterday. That set off some alarm bells for me.

I found this to be a good article after I wrote this e-mail.
http://en.wikipedia.org/wiki/Wall_Street_Crash_of_1929