Laissez le bon temps rouler

How did you like the market plunge yesterday? Everything had the bottom drop out. The gnomes have been calling for this for some time now and it had to happen. All that money on the table in profits was just too enticing to leave there for someone else to take.

This is a great time for those with a strong spine and capital to invest. If you own some dogs that have been under performing, perhaps sell them now and taking a capital loss, use that money to buy some bargains that are sitting nice prices, particularly those that pay hefty dividends, like Ford (F) and Exxon Mobil (XOM). Ford pays $0.68/share quarterly and can be had for the price of a couple of frappawhattas at Starbucks. Look at it this way. You’re not going to become the next J. Pierpont by slurping up a couple of dark roasted each day.

The metals bounced around too. They were not in the usual flight to safety zone; most of the money strolled over into bonds or cash.