Repeat after me: The economy is not that bad

• Buy 200 shares of Clorox (CLX, news, msgs) at the open.

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Just kill me now. The day-to-day declines and the increasingly negative tone to the market is incredibly painful to experience. Let's just get it over with -- drop an additional 300 to 500 points -- then get on with the business of rebuilding the bull market.

From what I can tell, conditions really aren't as bad as the marketplace depicts them. I don't know many people who have lost their jobs, their homes or their cars. I also don't many people who are seriously tightening their purse strings. I don't see it happening in my area or anywhere else I've traveled to over the past few months. Consumer spending is still pretty strong.

So let's quickly get to a level that more investors feel represents extraordinary value, so we can stop with the slow, steady decline.

Does Garmin deserve its beating?

Speaking of painful, one of my stocks -- Garmin (GRMN, news, msgs) -- took a beating over the past week, falling 4.2%, despite three positive developments:

• The company beat the Wall Street consensus earnings estimate.

• The company raised its outlook for the current year.

• The company said it would buy back up to 5 million common shares.

Apparently, despite the company's success, investors are concerned that margins will get squeezed and that sales won't keep pace with estimates. Is management being too optimistic?

Consider this: The company has beaten The Street in eight of the past nine quarters, and it has a slew of new products to drive sales.

I'll stick with management and bet this stock rebounds sharply over the next several months.

I'm adding a smart stock: Clorox

Also, I'll add a new stock to my portfolio, one that normally would be attractive in a skittish market: Clorox (CLX, news, msgs). This maker of household products has seen its stock fall to new lows amid concerns that higher costs will pressure margins and earnings.

Though costs are definitely on the rise, Clorox has a history of adjusting to these new realities by raising prices and improving operating efficiencies. The recent acquisition of Burt's Bees and a handful of new products should also help. This company isn't going anywhere no matter how ugly the economy gets, so I'll add 200 shares at today's open.