NEW YORK (TheStreet) -- Increasingly, investors have been asking that I put more cash to work. This includes new clients who have been sitting on the sidelines. It also includes current clients who are depositing checks from their banks into their brokerage accounts.
Guarded optimism and restrained greed have returned. It's not the kind of euphoria that, if experience serves, tends to accompany the end of bull markets. Nevertheless, the new-found enthusiasm is coming as global stock assets are hitting two-year highs. In some emerging markets, in fact, prices are logging all-time record peaks.
In this environment, there are those who are hoping for a 5%-10% correction here in November. They're hoping that excessive bullishness and 10 weeks of vertical movement will give them a better "buying opportunity." The problem is they may not get it.
Here are three reasons to buy 2%-3% dips for the ETFs on your Buy List:
1. Treasury yields are much lower than they were seven months ago. When U.S. stocks hit their April 2010 highs, the 10-year Treasury note was near 4.0%. Today, it is near a ridiculously low and historically undesirable 2.5%. Money will continue to leave Treasuries for higher-yielding bonds, preferred shares, partnerships and, yes, stock assets.
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