$EWJ: Just Thinking Out Loud

$EWJ is the ETF for the Japanese stock market. There is widespread fear and panic. There is blood on the streets.

I recall someone saying that absent trend lines, charts, Elliot Waves, candlesticks, and MACD histograms, "blood on the streets" is the time to buy.

Granted, this is potentially more serious than Toyota's breaks failing or GM getting a government bailout. But, still. And on the other hand, if the containment structures hold, it's all a bunch of nothing. Just the media sensationalizing and playing on peoples' fears.

In addition, the NDX (QQQQ) is another possibility if there is sympathetic selling in the US.

Not saying I will do any of it, either EWJ or loading up on the NDX. Heck, maybe this lingers on a while. But darn if it doesn't have my attention. History rewards, and punishes, risk takers.

Your thoughts?