Buy now?

9 36 am Oct 8th 2008: Udayan Mukherji is advising us to sell our furniture to buy stocks now and then don't look at the screen for two years...want to take that advise? Will we regret not taking/taking his advise?

Last time I took Udayan's advise and bought some more Reliance Capital, was when markets had come down to 17000. Sensex closed at 11695 yesterday, and a gap down opening is expected.
I remember when Congress came to power in May 2004, the Sensex had crashed and there was this one person buying stocks dirt cheap, when everybody else was selling. Nobody thought that was a time to buy.

May 17, 2004: Sensex dropped by 565 points, its third biggest fall ever, to close at 4,505. With the NDA out of power and the Left parties, part of the UPA coalition government, flexing their muscle, the Sensex witnessed its second-biggest intra-day fall of 842 points, twice attracting suspension of trading.

He must, even in this market, be a rich man today :)

My Take : Wait & Watch. What do you think?