20 Years to the Second -- Superstitious Children -- Fantastic Opportunity

October 19, 1987 was the real thing. Today, 20 years to the second, the markets' extreme declines are just the reaction of the children pushing buttons and the superstition of not very intelligent people. Just listen to CNBC and all the talking heads helping to push the markets even further as they join the panic. But, this will not be 1987, and Monday things will be much better after the children party and rest over the weekend.

Don't get me wrong. There are some fundamental issues -- credit, oil, inflation. But these are not going away and they also will not take the markets down long-term. Instead of joining the panic, this is absolutely the moment to get into the market and to buy aggressively those stocks that have gone down with all the others, but that offer great opportunities for short term gains come Monday. I am moving, personally, to go in even more strongly into China (FXI and PTR) and into oil (XOM, HAL, etc.). There are just so many good buys, including SNDK, that a list is silly. All I can say is that this is a great moment as a result of obvious and silly overreaction on the part of market movers.