Louis Nevallier's stance on the current selldown

Louis Nevallier may sound like a online marketeer most of the time, but he can be uncannily
accurate. Rememeber he called correctly the correction back in summer 2006.

“Today’s plunge is simply a short-term reaction to the government’s proposed assault on bank profits that may never come to pass.”“Mark my words—if you run to the sidelines now, you’ll kick yourself in 30 days as the market reverses course and our top stocks pile on the profits.“Here’s how I know. Plus your best move now.”

Fellow Investor:
Please—whatever you do—don’t even think of running to the sidelines.
The government’s assault on banks to limit their size and the risk they can take will never come to fruition.
How can it?
The chain reaction would not only cut bank lending and tighten liquidity across all sectors, but also stifle the recovery in ways you simply cannot imagine.
Truth is, no matter how you slice it, the banks—despite the boogeyman the government wants you to think they are—are partners in the U.S. recovery.
After all, the banks are the ones that distribute the money that the government continues to print!
So please trust me when I tell you this:
The last thing the government wants is the banks to stop lending money, and
Today’s announcement is simply political posturing to take attention away from their health care fumble that will never come to pass.
For these reasons, I urge you—in the strongest terms possible—to take advantage of today’s sell-off to add to your holdings now.