For you short term traders, being in a bear market can improve your returns. If the bear market lasts long enough and forces you to hold your stocks for more than one year, you will be eligible for long term capital gains of 20% instead of being taxed at your marginal rate. In addition the account churning that costs you in commissions and spread costs will also be reduced. Of course, this assumes we come out of the bear market, eventually and we will.