[lasereye]

If you have nerves of steel, you could be buying instead of selling here. But only use money you don’t need any time soon.

[claudiustg]

The best time to buy is when things start going up again. You may miss a few dollars profit, but avoid a lot of pain.

[astounded]

This is, indeed, a buying opportunity for those with nerve and some free cash. Look for solid dividend payers that are good defensive plays (eg, Altria, Dupont, Coca Cola, GE, McDonalds, and so forth) that provide 3-4% returns on top of growth.

[chimera]

Look for solid firms that have been irrationally beaten down by the general panic selloff. People are always going to need things like gasoline, food, personal products, etc. I see no fundamental reason for selling out of companies like XOM, P&G, ADM, etc. Everyone I know who has made a lot of money in the market has this in common: buy when everyone else is selling, sell when everyone else is buying. That way you fulfill the primary goal (buy low, sell high). Just make sure you are emotionally equipped to ride out the drawdown, and don’t need the money for everyday living expenses.

[MoMagic]

If you have nerves of steel, you could be buying instead of selling here. But only use money you don’t need any time soon.
I'm fortunate enough to be in a position to do that. At my age, I am buying up land.

[listenhillary]

Bulk distributions for 401K profit sharing accounts should be hitting the markets soon. At least mine will be in the next week.

[kenth]

But only use money you don’t need any time soon.

---

That line should be required reading for anyone who wants to invest.

One of the biggest problems with the market is people treating it like a lottery instead of a long term investment. Part of the reason is the ease with which anyone can invest these days; i.e. availability of brokers, small investments, Internet, etc.

Any investment should be with money that you aren’t needing any time soon. Too many people think like day traders.