During the course of 2007, I read on many occasions that we were in a "Goldilocks" stock market, meaning that while some stocks might be too hot and some too cold, most in the overall market were just right. The overall market had a great run from early winter to mid-summer before it took a big dive.

We saw some recovery from those low points until the credit markets tightened up and billions of dollars in losses and write-downs occurred, bringing down any stocks related to banking, lending, housing, construction and the like. Now consumer debt and consumer spending are frightening the market in the midst of the holiday shopping season.

I started to think about all the fear and doubt forming like dark clouds, speculating on a possible recession in 2008, though I am not convinced of that outcome. I happen to believe that even in the worst markets there are good stocks to buy, maybe even more of them. So I offer up a new metaphor for our current market --- the "fluff & fold" market, when almost nothing is just right.