Stocks off 5%

We are close to the lows for the day, as investors panic-sell on the S&P downgrade.  Again, this is not new news!  We have known since April that S&P would downgrade the US if Congress did not reduce spending and/or increase revenues by at least $4 trillion over the next 5 years.  Treasuries are actually up in price today, which shows that the U.S. has not lost its place as the most secure place on the planet to invest.  This is a panic blow-out sell-off, which is a very attractive opportunity to buy.  I assure you the world is not coming to an end.  If you have been following my blog or my other commentaries, or have listened to be on the radio or read my articles in the News Press, you know I have been extremely reluctant to buy anything up until now.  I have been sitting in cash for months and months, waiting for this to happen.  Investors have been completely ignoring the problems both here in the U.S. and across the globe, with regard to the mounting debt issues and slow GDP growth.  Finally investors have recognized the reality of the situation, and are overreacting to it.  This is the opportunity of this year and possibly the next few years, to buy high quality companies at great value.  Yes things could go lower.  The chart shows we could go to 1,040 on the S&P 500.  That's ok!  We are not going to get the exact low.  I can't say for sure when investors will feel that prices are so low that they need to start buying, but it will happen, and when it does, stock prices will bounce very quickly - far too quickly for you or I to make our purchases before prices rally.  Don't miss this opportunity!  They just don't come along all that often.  If you are concerned, buy half of what you want to own and wait to put the other half to work in case things go lower.