The time to come back into the market is when the charts tell that the market is moving in the direction your strategy needs it to go. A trader or investor has got to feel the sentiment and watch the charts. What 'they' say may just be hype. Investing in hype or hackneyed adages could be dangerous to account health. Develop a feel for the market, plan a strategy, stick to the plan, and don't worry about 'they.' 'They' is just a mysterious, mischievous, ether-like ghost who'll try to take your money before you have a chance to spend it on something personally pleasing or necessary.