If you read the WSJ and other financial press, there are many stories about bottom of the subprime mess. While I don't think we are there yet, I figure it we are within 6-9 months of the bottom.
My strategy: strategic buyer of equities. I am buying on days when the market is down as I move my portfolio back into the market.
Sample story: http://online.wsj.com/article/SB120976475747763607.html?mod=hps_us_whats_news