Up From The Ashes

Stocks will slump further, but not for long. It's time to revive an old rule: Buy on the dip

Just a day after the World Trade Center was flattened, tens of thousands of New Yorkers gamely hopped a train or a cab or walked to work as usual. What else were they going to do? Quit? Not likely. Similar pluck will mark the national economy. Sure, there will be economic tremors from the terrorist attacks. But the likely net effect--purely in economic terms--will be to hurry up and shorten a slowdown already in place and bring a quick end to the bear market that has gripped Wall Street since the Dow peaked in January 2000.

Much hinges on things we...

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