Has it paid to panic over the EU crisis headlines?

It’s a very ugly open this morning…because of new concerns that Spain and Italy are to join Ireland and Greece as problem children of the EU…again. Each and every time we’ve seen the markets get hit badly here in the US over some concerns about some smaller countries in Europe who are going to bail out their bankers and cut social services to kick the can further down the road, I’ve reminded you guys that we should use such catalysts as buying opportunities. And that has indeed been the right approach. Look at the recent trends of concerns about the EU and their budget over the last twelve months:

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