I’m going to go ahead and deploy a little bit of that this morning…
This morning brings us a retest of the lows. The traders/investors are, as I noted repeatedly the last couple days, feeling very emotional after the recent volatility. And that’s got them, as I’d paraphrased Janes Addiction in saying, “jumping out of their flesh because it hurts so bad to hold it in”.
I’d also noted earlier this week that, “Point being that now, after we’ve gotten back to where we were before the idiots at S&P downgrade the US, is the time to panic over that very downgrade…not last Monday when everybody else was.”
The same point hold true now — while the markets already down 500 points today, it’s decidedly NOT the time to panic.
As you guys also know, I’ve got some cash on the sidelines waiting for just this kind of another sell-off…and I’m going to go ahead and deploy a little bit of that this morning buying some Cypress, Google and Apple common.
