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For the first time this month, the market has seen a fair amount of selling as it fell back below the 1,130 breakout level on the S&P 500. The question on the minds of the bulls is whether to be concerned or to use it as an opportunity to buy stocks on the cheap. The best approach is to take a step back and look at a few charts.

From the end of August to its highs on Monday, the market has rallied over 10%. So the bulls shouldn’t be too distraught when they see the market pull back a few percentage points. With that said, the best strategy moving forward is to do your research now so that you’re ready to pull the trigger when the market resumes its upward trend.

Keep reading to learn about the stocks that have been on the front lines of this market rally and whether they are long or short candidates.

BHP Billiton Ltd.’s (NYSE: ) $130 bid for Potash Corp. of Saskatchewan (NYSE: ) isn’t going to be enough. If they want this company, they are going to have to up their bid, which could bring about interest from the Chinese state-owned chemical company Sinochem. There is a strong possibility that POT will go up to the $170-$190 range as a result.

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