Editor's Note:

On your mark! Get Ready! Now Wait!

Stocks have stalled as we wait for the midterm election results, the conclusion of the two-day FOMC meeting on Wednesday and any QE announcement. Plus we have the jobs report this coming Friday. There are plenty of opportunities for stocks to see a "sell the news" reaction and spark a much needed correction.

We don't want to launch new bullish positions if we suspect the market could be 5% to 10% cheaper in a week or two. Look for strong stocks and plan your entry points on a significant pullback near support.