Put Money to Work!

I reported minutes ago about the crash in the overall market; whether this was a flood of legitimate volume and selling pressure or not, that has pushed traders into their animalistic mode. Buyers are coming in for stocks and there is a general consensus that if you don’t put some money to work here, you are going to miss out big-time.

I for one went straight into my IRA and took all my cash out and put it to work in high-yield corporate bonds, as well as a little in small cap international and Euro zone stocks. The vast majority went into corporate bonds, which I have been behind for a long time; they are great value and offer great downside protection given their high yields and less voltilie nature.

Rick Santelli just said on CNBC that investment grade corporate yields just widened 100 basis points over the last few minutes. You want in on that; BUY SOMETHING—NOW.