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I think it's a good idea to start or add to positions in major banks (C, BAC, MS etc) when stocks are being dumped and fall under your buying price (which must be outrageousely low).
Like that you won't miss the boat if stocks rise unexpectedly and won't loose all your money it they keep on falling.
Think of your cash like amunitions: Always keep some for the tough times.
MS and other banks are attractive now, but as I said, I will stick to my timetable (3 months minumum).
But if I had more cash available and my portfolio hasn't been torpedoed in last 4 sessions (which could push me to buy other things than banks), I may be buying banks moderately at these prices.
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