A good time to buy now, or in the near future?

Just a thought, but some have made fortunes when the economy or a market segment was down.  The best I have ever done in the stock market,  real estate or some other investments (sports cars, rare coins..etc.) were buying when those, and other "things", were down.  But, as has always been true, speculation should only  be done with "play" money...not the money for you and your  families living expenses and safety.  
Perhaps trite, but the old buy low, sell high is so much wiser than buying anything at it's market peak.....that is the time to sell. 

Do any of you feel that now is a good time to buy, or is that bottom yet to be reached?