Prof. Roubini of NYU remains bullish on equities. His optimistic outlook for fundamentals is based the fact that the tsunami and nuclear reactor problems are local events; they do not, in his opinion, affect global growth.

He is concerned, however, that panic could drive this market lower in the short-term. He's probably looking at the VIX with a double-digit increase today. (chart is courtesy of BigCharts.com)

My suggestion, buy equities when the VIX starts to decline.