My mentor in this business made a fortune buying stocks when there was blood in the streets. Over his 25 plus years in the business, he made the majority of his gains in the aftermath of complete devastation.

The reliability of his methodology was like a Swiss watch. You could count on significant out performance in his portfolio in the year or two after a severe decline in stocks.

Because of his longevity, we have many different data points covering various economic and market conditions. Starting with the 1970s and the era of stagflation and ending with the terror attacks of 2001 and the dot-com crash.

Through it all, he made money and lots of it. In fact he had no fear as in many cases he was willing to borrow money to buy stocks on the cheap. It may seem crazy, but his track record speaks for itself.

So here we are today in the midst of another market malaise. Blood is in the street, pessimism is at a peak, and the economy is receding. Even worse, unemployment is on the rise, inflation is heating up, and banks are in full retreat on the heels of a credit collapse.

I guess we should all just pack it in!

Not if you are an opportunist or a ChangeWave enthusiast! There is gold in them there hills, and Tobin Smith and his team at ChangeWave Investing have the treasure map to show us exactly where to dig.

Stocks are cheap, and there are bargains to be had in nearly every segment of the market. While it would be very easy to be fearful in this environment, investors need to resist that urge that says wait, and dive into the water with both feet.