That seems to be the common thinking among investors and traders alike these days.
Mixed in with all the mediocre US numbers that came out during the last few weeks, Europe seems to be in the headlines again. This past weekend both the incumbent Greek and French governments were toppled, ushering in new left wing socialist governments in both countries. Funny enough, both socialist leaders have been harking about stopping the austerity measures, and spending their way out of this problem.
In the short term, I expect markets to continue to be choppy. I think from a long term perspective, mid yield stocks continue to be appealing compared with bonds or bond replacements (high yield stocks). If we've learned anything from the Europe crisis in 2011, it was that the most hammered sectors will be financials and banks.
That being said, I continue to believe banks present some of the most attractive long term value in the stock market. Just be prepared for some extreme volatility in the short term.
One thing I've learned in the 5 years that I have been investing is that the best times to buy, are typically the times when things look so bad, you start questioning yourself whether you should buy.