Warren Buffett on buying stocks

I read this Op-Ed piece by Warren Buffett on NY Times today about his investing philosophy during the financial crisis.

He wrote,:

"A simple rule dictates my buying: Be fearful when others are greedy, and be greedy when others are fearful. And most certainly, fear is now widespread, gripping even seasoned investors...In waiting for the comfort of good news, they are ignoring Wayne Gretzky’s advice: “I skate to where the puck is going to be, not to where it has been.”.... In short, bad news is an investor’s best friend. It lets you buy a slice of America’s future at a marked-down price."

So looking at the stock market, who's feeling as if they are walking into the mall and everything is on sale?