The markets bounced back on Tuesday following a steep sell-off on Monday, but the major indexes (^DJI,^GSPC, ^IXIC) are still well off their highs. Should investors buy the dip? Interactive Brokers chief strategist Steve Sosnick joins Market Domination Overtime to share insight into what investors need to know if they want to buy the dip. “Not every dip ultimately proves to be the buying opportunity… That’s why I’m still looking to see if the carry trade has more to go. One of the things I’ve been watching is the Japanese Topix bank index, which has underperformed the Nikkei (^N225), it was down double digits both days. And then yesterday when Nikkei was up 10% it was up 4%. So I still think that if the Japanese are worried about their banks, maybe there’s something out there. So there’s a there’s a push-pull,” says Sosnick. “Yes, stocks tend to go up. And, as a result, dips tend to be good buying opportunities, but they’re not 100%,” he adds. He reminds investors, “If a day like yesterday freaks you out, you’re carrying too much risk.”
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