A Chicken Little Day

Markets didn't just dip or slip. They dove for cover after news on consumer prices indicated inflation may be rearing its ugly head. Just yesterday, economists were declaring that rates would not be raised again for another year. Today, they're all declaring the Fed will crank up again. Even the famous bond investor, Bill Gross, is changing his tune about rates. Yes, prices are rising, but it's up to Mr. Bernanke and his crew to decide if the latest news is enough to warrant an official action. They raised rates just a few weeks ago. Personally, I think Wall Street is overreacting. While some investors are heading for the doors, I'm diving IN. After all, I love a good sale! Dow -214.28 -1.88% NASDAQ -33.33 -1.55% S&P 500 -21.76 -1.68%