MARKET SELL OFF GOOD FOR MY STOCK PURCHASE PLAN

The news media is buzzing with doom and gloom over today's drop in the stock market.  More European woes, a bad auction for Spanish debt, ADP reporting less new jobs, the Fed bowing out of another round of quantitative easing, it all sounds like too much for the market to handle. 

However, this works out great for me!  I'm making at least 4 new stock purchases this month.  I've decided to put off my purchase of CLX, for my IRA account, in favor of a couple of high yield issues, one paying monthly dividends.  I'm also planning to add two high yield stocks to my taxable account, one quarterly payer and one monthly payer.  The drop in stock prices couldn't have come at a better time for me.  With the completion of the above purchases I will boost my number of dividend payments by 32 per year (12 x 2 + 2x4).  I'm currently receiving 136 dividend payments per year.  Adding 32 more payments with this month's purchases will give me a total of 168 dividends, meaning I'll only have to get an additional 197 payments to reach a dividend for each day of the year.  This may sound like a lot, but it would only take 16 more monthly dividend payers plus 2 quarterly paying stocks to exceed my goal.  

All this will be a lot easier if the stock market prices are down.  So rather than doom and gloom, I'm excited about a pullback in stock prices.  Once my dividend a day cash machine is in place, I'll be looking forward to a rebound.