Is this the Great Stock Sale?

Dow Jones - Down 7.6%
S & P - Down 8%
Dax - Down 8%
FTSE - Down 6%
Hang Seng - Down 9.4%
SSE - Down 13%
STI - Down 5.2%


The Straits Times article today noted that some blue chip stocks are at bargain basement prices. Will the stock market sell down more? Most probably, but should we follow the rest and cut loss?

Stock market bear Michael Lombardi has acknowledged that "After a sharp decline of 926 points by the Dow Jones Industrial Average from May 2, 2011, to June 13, 2011, and given the sharp rise in stock advisor bearishness, I believe that the odds strongly favor a stock market rally here from severely oversold market conditions."

And finally, the fengshui index indicates that June is the month for getting value for a song.

Therefore, the gut instinct must be to BUY, not SELL.