For the first time in 2013, European sovereign debt issues will be at the forefront again. Cyprus Bailout Crisis Slams Breaks on Risk–On , CNBC reports on the Cyprus bailout terms that will tax bank deposits 6.75% to 9.9% of bank deposits in order to qualify for a $10 billion euro bailout. These terms are expected to create volatility in the stock market next week. The expected direction of the market will be down.
I see this as the first buying opportunity of 2013. I will watch the market early in the week and will consider the purchase of various stocks late in the week, since I believe the decline will take several weeks to adjust.
The correction may finally come : -)
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