let it drop few more and start buying stocks of good companys ie that has positive earnings. Do not panic in this stock market crash .. you can make good return. See the value line report and try to find the company that is losing money or in bottom line for last several years. They will go up in next few years ( so called momentum effect). If you need some advice on chosing the stocks following are my suggestions. Look for following numbers. BETA < 2. PEG ratio <2.. Low dividend payout ratio (compared to competitiors) ... But compnay that is paying some dividend. May be this will help you guys