With all of the talk about the economy possibly coming in for a soft landing, I can't help but think of an important component in skydiving; Like most jumps or falls, the severity of the impact depends on whether or not you "Bend You Knee's."

If what we have been experiencing the last 44 months is a cyclical bull rally, then eventually the next leg of the bear market will resume. When it does, the magnitude of the decline, and the severity of the damage in your portfolio will depend on whether or not you are prepared. In essence, will you Bend Your Knee’s?

Market declines, like skydiving, have a similar feel. Tell me if I am wrong, but not looking at the ground in skydiving, or not having a potential downside target may lead to disorientation. There is nothing more frustrating than being a disoriented investor.

By identifying a downside target, and reinvesting at pre-determined price levels, investors can enjoy the rush of a free fall, and enjoy the scenery on the way down. Eventually, a bear market will end, and a new bull market will take its place.

Here are some thoughts on how we can do this;