And what kind of person celebrates when people lose money in the market? 
The person on the other side of the equation. For someone to lose in the market, someone gains.
The market is due for a correction for quite some time. It hasn't been able to due to the Fed and ECB interfering, simply put. Gold is still strong which says it's either over bought (unlikely) or there's more to come in this song and dance. There's still tremendous turmoil in the EU and the surging debt of the US is what has everyone shakey. The S&P downgrade was just a small kick-off to this.
With this much volitility and moving into a bearish market, for the average Joe, it's not a good idea to make any moves to jump in right now. There's just too much uncertainty with the major banks which is what's going to determine what happens.