There is no such thing as buy and hold, the next 10 years will be flat to down, any returns you can grab on a daily or weekly basis should be taken. In my opinion you will be able to buy stocks at s&p 1000 today and s&p 1000 5-10 years from now. Stocks arent going to zoom higher like they have for the next decade. There isnt any earnings growth at the time being, cost cutting and laying off employees to meet your bottom line will only sustain itself for a few quarters after that growth has to come from somewhere and I highly doubt the consumer is going to come back and spend like they did just 2 years ago.
All the talking heads saying the bottom is in and that the recession is over will be completely wrong, this is a bear market rally. Back down the markets will go in due time.