Just read the Gartman Letter. A couple things he said: ( a bit of paraphrasing for brevity)

There are good times to panic, this is one. This is very, very serious and will get much much worse. (he used 2 muchs and 2 verys!)

They think oil is the one commodity that has sold off that should be bought on weakness.

They wonder if there is some lying going on. (What? Gov't lying about the seriousness of a disaster? Sorry, I'll be serious now) The US moved it's fleet so it would not be downwind of the radioactivity even though they said the levels were very low. Why would they move the fleet if it was ok? Helicopter crews came back with low levels of radioactivity.

He congratulated Obama for saying that nuclear will remain a big part of US energy future. (he RARELY likes ANYTHING Obama does!)

My thoughts. The Urainium co's will rebound from this but picking a bottom will be more luck than good planning. I bet that of the hundreds of reactors on the drawing boards, many won't get built, and those that do will be delayed. That said, probably many would have been dropped or delayed without this the way those things seem to go. I think that it speaks to the very bullish sentiment that the markets didn't drop even more. The VIX is sitting at about 24 which isn't historically high, and yesterdays close of about 22 meant that VXX-NY closed just nicely above it's 50 day MA. The last tim the VIX was at this level was the end of Sept. the last time VXX-NY crossed it's MA line with much conviction, the SP went from about $80 to $140. This isn't a reccomendation, but I bought a bit more today.

Grain markets are taking big hits, as are most commodities except nat gas (how much lower could it get?) and rice.

Anyhow, Good luck to all. Especially those with friends and family in Japan.