Here’s my pick  for trade of the of the week: Send Eli Manning to Washington! Bring in the younger brother to work his magic on the markets, just as he did against the boys from New England. Sit him down next to Ben Bernanke, who by now probably wishes he was in Baghdad and putting together a fiscal plan for 2050. I bet ol’ Archie’s boy  could give him a lesson in operating under fire and coming out a winner.

And while we’re talking about winners: this afternoon I watched the talking heads on TV discussing the markets. One savvy expert after another was dragged out to give America his or her 2 cents on the economy and the stock markets. The truth is that as far as where we are going, at least in  the  short term, it’s anybody’s guess. Still , you can have some fun amid the gloom. Write down comments from each of Wall Street’s favorite market seers and put them away until summer. Then open them and have a good laugh. You won’t be alone.

One of my humbling experience came 10 or so years agoat a business dinner when I found myself sitting next to Allen “Ace” Greenberg, who was then CEO and trader extraordinaire at Bear Stearns . As the evening grew late  and peoplke were starting to head for the door, I found myself alone with the great man. Attempting to make some kind of intelligent comment, I blurted out something brilliant like, “Hey Ace, what do you think the market is going to do this week?”

With the coolness of a riverboat gambler he replied, “Hell kid, I don’t know. Nobody knows. I just buy them and sell them.”

This was a good lesson I’ve never forgotten . Right now, there is one thing for sure: the equity markets  are going nowhere fast  until some of the uncertainties  about the economy are cleared up.

January was nonstop volatility in the nation’s equity markets, where we saw both the best and the worst in five years, before finally finishing off 5% for the month. February isn’t going to give us a chance to catch our breath, either. After a feeble attempt at a rally,  the markets have headed lower once again in the early part of this week.

Murphy’s Money says:

–When investors are faced with the uncertainties that are crippling the economy, it is key that you work through your portfolios and weed out all but hte highest-confidence stocks you own.

–Take a look at how your portfolio reacted to the rally during the last week of January and ended last week. Meet with your broker/planner NOW and put a strategy in place for the next 12 months.

–If you are invested in mutual funds, especially if you are a Baby Boomer and facing retirement, do the same exercise with your fund investments. Too many investors tend to throw away their mutual-fund statements and aren’t aware of what is happening at the fund regarding management changes, performance in strategies, etc.

Now is a good time to get your financial world in order, as there will be opportunities to make back some of the money you’ve lost. But, you have to be prepared when the time comes. I am not suggesting that you start trading in the current market with your 401(k) dollars.

This is a good time to readjust and clean up your portfolio, as you most likely will be able to buy some of your core long-term investments  at very attractive prices.

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