Actually, the SEC is considering lifting the limit for companies to buy back their own shares, especially on a drop. Rumor is the Fed will drop interest rates 50-75%. If you buy stock, buy quality. No Yahoo crap. GE, IBM, Microsoft, which are all safe to hold if it drops after you buy it.
Expect airlines to drop like a rock, for a good discount if you have gambleing money. Defense stocks will probably rise so fast, you can't catch them cheap. I think the NYC Comptroller, Alan Hevasy said the NYC Pension Plan is buying big time, but I'm not positive.