By Jeff Clark in Growth Stock Wire:

Buying into the stock market after a 1,000-point rally is like trying to wrestle a skunk. There's lots of risk and not much reward. The decline over the past few days has taken a lot of the stink out of that idea, however, and short-term traders can start nibbling on stocks right here.

There's still risk. My downside target for the S&P 500 is 725. But stocks are now in an intermediate-term uptrend, which should last several more weeks at least. A few small stock purchases now ought to pay off well over the next month or two - even if there's a bit more short-term weakness. And you'll want to make several big bets if the Volatility Index (aka the "VIX") breaks down below 39.

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