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Why Investors Should Still Buy on This Dip: Market Pro

US stocks fell sharply on Tuesday as the dollar rallied against the euro amid worries about the European debt crisis. So how should investors prepare their portfolios? Dan Fitzpatrick, president of Stock Market Mentor, shared his insights.

“The market’s overacting and the underlying fundamental data points are looking more positive,” Fitzpatrick told CNBC.

Fitzpatrick said he is “surprised” that the markets hadn't already seen a correction.

“The headlines today could have been the headlines yesterday and last week,” he said. “The market’s been a little slow to react and that gives me the sense that there’s still an underlying bid to this market.”

Investors should look to step in and buy this market dip, advised Fitzpatrick.

Opposing Views:

Watch Fitzpatrick's Previous Appearance on CNBC (May 3, 2010)

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More Market Intelligence:

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CNBC Data Pages:

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Tuesday's Dow Laggards (as of this writing):

Caterpillar

Alcoa

Hewlett-Packard

Chevron

United Technologies

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Disclosures:

No immediate information was available for Fitzpatrick or his firm.

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Disclaimer