Bailout Doesn't Offer Market Clear Direction

"We're trying to tune out some of the day-to-day market noise that occurs and focus on what our long-term economic and market models are telling us," says Albahary. Still, "it is very hard to predict what's going to happen. What's going on now is kind of unprecedented."

Backshall says all types of investments may suffer until several economic headwinds facing the consumer improve. Otherwise, rising unemployment, stagnant wages, high inflation and the degradation of household wealth will continue to push up foreclosure rates or cause defaults on other types of loans, from cars to college educations.

The government plan is "by no means a sufficient solution to start a new bull run," says Backshall. "Ultimately, the market needs the greatest of all healers -- time -- to do its thing."