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Should You Buy This Dip? Depends on This!
05 Mar 2012 EST - CNBC.com

On Monday investors were trying to determine if the decline in the market presented an opportunity - or if it was the start of a bigger sell-off.Materials led the decline, after China cut its growth forecast, suggesting China's commodity-hungry economy was slowing.

Although declines in every sector are bearish, declines in the materials sector are often considered a greater cause for concern because materials have led the rally long-term.

Considering the turn of events, should you buy the dip?

According to the Fast Money traders, it depends on what you expect from the next jobs report.“Jobs are the engine that are moving US stocks,” says trader Josh Brown. As long as the employment picture improves – Brown thinks stocks market marches higher.Of course, that begs the question - will it improve? Brown thinks it will. He points to the flood of other economic data, most of which suggests the US economy is improving.

As a result he believes risk in the market is to the upside. “If we get a stronger than expected jobs number you won’t want to be in Treasurys,” says the pro. His comment suggests with the market sitting around 1360, a strong jobs number will trigger a rotation into equities.Trader Steve Grasso agrees. “Lately all the dips have been buying opportunities,” he says. “Equities are still the best bet in town.”"I would (also) recommend buying on dips because I think we will continue to see jobs growth showing improvement," adds Peter Cardillo, chief market economist at Rockwell Global Capital in a Reuters interview.And if you fear that the market is on the brink of a bigger sell-off Steve Grasso also has some thoughts - watch 1354. “That was the level where we bounced last week,” he says. How the market behaves at that level should be telling.What do you think? We want to know!

______________________________________________________Got something to to say? Send us an e-mail at fastmoney-web@cnbc.com and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment, but not have it published on our Web site, send those e-mails to fastmoney@cnbc.com .

Trader disclosure: On March 5, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders: Terranova is short GOOG; Terranova is short April gold futures; Terranova is short May silver futures; Terranova is long VRTUS; Terranova is long NXPI; Terranova is long IBM; Terranova is long MCD; Terranova is long LQD; Terranova is long EMC; Terranova is long MSFT; Terranova is long GS; Terranova is long JOY; Terranova is long OXY; Najarian is long WYNN call spreads; Najarian is long KERX call spreads; Najarian is long FIO call spreads; Najarian is long P call spreads; Brown is long RAX; Brown is long CLNE; Gartman is long corn; Gartman is long an “Asian” short term government bond; Gartman is long Soybeans; Gartman is long GoldGartman is long Copper; Gartman is long S&P 500 Index; Gartman is short Euro; Gartman is short Swiss Franc; Gartman is short Yen;For Michael HarrisCampbell and Company is short NYMEX Natural Gas, long NYMEX WTI Crude Oil and long ICE Brent Crude Oil.For Itay MichaeliCitigroup Global Markets Inc. or its affiliates beneficially owns 1% or more of any class of common equity securities of Goodyear Tire & Rubber Co. This position reflects information available as of the prior business day.Within the past 12 months, Citigroup Global Markets Inc. or its affiliates has acted as manager or co-manager of an offering of securities of Goodyear Tire & Rubber Co, Johnson Controls Inc, Delphi Automotive PLC.Citigroup Global Markets Inc. or its affiliates has received compensation for investment banking services provided within the past 12 months from Borg Warner Inc, General Motors Company, Goodyear Tire & Rubber Co, Johnson Controls Inc, Magna International Inc, Delphi Automotive PLC, Tower International, Inc..Citigroup Global Markets Inc. or its affiliates expects to receive or intends to seek, within the next three months, compensation for investment banking services from Goodyear Tire & Rubber Co, Johnson Controls Inc.Citigroup Global Markets Inc. or an affiliate received compensation for products and services other than investment banking services from American Axle & Manufacturing Holdings Inc., Borg Warner Inc, General Motors Company, Goodyear Tire & Rubber Co, Johnson Controls Inc, Lear Corporation, Magna International Inc, Delphi Automotive PLC, Meritor Inc, Tower International, Inc. in the past 12 months.Citigroup Global Markets Inc. currently has, or had within the past 12 months, the following as investment banking client(s): Meritor Inc, Tower International, Inc., General Motors Company, Goodyear Tire & Rubber Co, Delphi Automotive PLC, Borg Warner Inc, Johnson Controls Inc, Magna International Inc.Citigroup Global Markets Inc. currently has, or had within the past 12 months, the following as clients, and the services provided were non-investment-banking, securities-related: American Axle & Manufacturing Holdings Inc., Borg Warner Inc, General Motors Company, Goodyear Tire & Rubber Co, Johnson Controls Inc, Lear Corporation, Magna International Inc, Delphi Automotive PLC, Meritor Inc.Citigroup Global Markets Inc. currently has, or had within the past 12 months, the following as clients, and the services provided were non-investment-banking, non-securities-related: American Axle & Manufacturing Holdings Inc., Borg Warner Inc, General Motors Company, Goodyear Tire & Rubber Co, Johnson Controls Inc, Lear Corporation, Magna International Inc, Delphi Automotive PLC, Meritor Inc, Tower International, Inc..Citigroup Global Markets Inc. or an affiliate received compensation in the past 12 months from Meritor Inc, Tower International, Inc., General Motors Company, Goodyear Tire & Rubber Co, Delphi Automotive PLC.Analysts' compensation is determined based upon activities and services intended to benefit the investor clients of Citigroup Global Markets Inc. and its affiliates ("the Firm"). Like all Firm employees, analysts receive compensation that is impacted by overall firm profitability which includes investment banking revenues.For Joel SimkinsLas Vegas Sands (LVS) is an investment banking client of Credit Suisse.Wynn Resorts (WYNN) is an investment banking client of Credit Suisse.CNBC.com with wires.

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