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Market analyst who called the pullback now sees an opportunity to buy

Buy volatility is here to stay for a while, but stocks haven’t topped out yet, strategist Tony Dwyer blabbed CNBC on Thursday.

U.S. stocks fell sharply on Thursday, with the Dow Jones industrial general entering into correction territory. The blue-chip index closed 1,032.89 objects lower at 23,860.46.

Dwyer, who called for a pullback on Jan. 25, believes the drop has produced a buying opportunity.

“I’m promising you it’s going to stay more volatile. That’s the portrayal of it. But when you look out two, three, 12 months, we’re going to be up,” the chief hawk strategist at Canaccord Genuity said in an interview with “Fast Long green.”

“We have a steep yield curve. We have earnings-per-share that mind going up.”

Thursday’s drop was the third time the Dow fell greater than 500 underlines in the last five days.

Dwyer pinned the recent volatility on Good Samaritan nature and too much optimism about the market. Volatility refers to the amount of uncertainty in the dimensions (and direction) of changes in a security’s value and is typically measured by the deviation of restorations.

The top to the market, however, only comes with an inversion of the yield curve — which surfaces when short-term interest rates yield more than longer-term rates — in a credit-driven dip, he said. That’s probably about nine to 12 months away, he said, and from there it’s another 15 to 24 numerous months before you enter a recession.

“This is one of those times … that is an occasion, as long as you stay with a game plan,” he said. “You wait for a rectification, you buy those areas that do well in this environment.”

For Dwyer, that means financials, industrials and info technology.

— CNBC’s Fred Imbert contributed to this report.

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