Looks Like Another Bad Day

I am sure everyone is thinking about the metaphor of Nik Wallenda walking a tight wire across the Grand Canyon yesterday and the stock markets post Bernanke's speech.  Wallenda did make it across (it was difficult to watch), despite volatile winds and a wire that was vibrating so much he had to stop twice for it to calm down.

Markets are looking to open down over 100 points this morning.  We may also have to stop once or twice to wait for them to calm down.  But I do not think that means going backwards or panicking. Those would have been bad options for Nik and I'd suggest bad options here.

My plan is to do what I have planned.  I will let my dividend stocks re-invest their dividends at cheaper prices. Recall, one way to think about things is to focus on income stream rather than  absolute value.  Then I plan to buy more stocks with my 22% cash pile as the prices become more attractive. If you think about it, higher interest rates are actually attractive for many firms, so I am hoping in a panic that some of them go on sale.