Beware the ides of March -- and the two weeks preceding it. Just as the market had become complacent about risk (which happens when there are seven or fewer worries on the wall, for those of you keeping score at home; see last month), we got a bell ringer of a wake-up call reminding us that volatility is alive and that fear is more powerful than greed. We come into April with 11 worries on the wall, and the news -- U.K tensions with Iran, subprime auto-loan defaults and Iraq destabilizing -- points to more concerns in coming months. A choppy market, Wall Streetspeak for downward sloping, will likely follow. But there is a silver lining: Stocks are getting cheaper at a pretty fast clip. Although we are nowhere near the flood of value that comes with panic selling, stay alert, because the next rogue wave that hits the market should be seen as a signal to start buying.
