There was plenty of elbow bending in March, but much of that came from grown men wiping tears from their eyes. The Federal Reserve Board–led bailout of Bear Stearns Cos. rocked the markets but likely averted a free fall in equities. The Wall stays in the land of fear, with more than a few naysayers and shorts left standing. Potential worries include leveraged loans, commercial real estate prices and the looming U.S. presidential election. Still, many individual stocks have been hit harder than the indexes have, so choose carefully and exercise patience. Most important, best wishes to our friends at Bear and to others struggling in these difficult times.