Look for Opportunities to Buy Later this Week

It was starting to look like we might have a sustainable rally on our hands early last week. Then, Ben Bernanke went to Capitol Hill and the market has been down every day since. Friday was especially bad with the DOW down over 300 points or about 2.5%. After a selloff like that, you would hope to feel good about buying. However, I think we need to wait until later this week when the jobs report comes out. It's not a big stretch to predict that the jobs number will be weak. I think this will give us a better buying opportunity than we have today. So, make out your shopping list and get ready to buy if we get the pullback that I'm predicting. But, remember to stay disciplined and buy in small increments on the way down. It's hard to pick the bottom in a stock and you're much better off having not bought enough by the time the stock recovers as opposed to having bought too much before the stock bottoms out.