Dumbness, take 2
Like Britney, they did it again. I was annoyed because the 4-day wait imposed by Fidelity on my IRA contribution caused me to miss out on last week's dip - but stocks obliged me by getting dumb cheap again. Got more AAPL at 363, more BWLD at 54.93, more INTC at 19.63.
A lot of money came out of the market today, sure.
Where's it going to go? Gold? There isn't that much in the world. Synthetic gold derivatives? Maybe - maybe not. Money market? To get 0.1%? I doubt it.
Lot of attention being paid to known lagging indicators. Hey, we're in a recession. No kidding. Doesn't mean that stocks will never go up again, or that they have no value. Look at your time horizon, and if it's long, look at fundamental valuation and margin of safety - and you'll never go wrong.