3 Strong Buy-the-Dip Candidates in a Volatile Market Each one of these stocks has something different to offer investors and could be viewed as a bargain by the end of the year when compared to current p...

There are plenty of people out there that always say "I'm waiting for a big market dip to get fully invested in the market", yet when the dip actually occurs, they lack the confidence and plan of attack to take advantage of lower prices. Instead of sitting idly by while some of the best companies in the world go on sale, it can really pay off to use market weakness to your advantage. Buying the dip is known to be a very successful strategy over the long term, particularly when you use it in tandem with concepts like dollar-cost averaging. However, if you don't have conviction and an idea of which names you would like to add during market corrections, it's quite intimidating to actually execute during periods of volatility.

That's why we've put together a breakdown of some strong buy-the-dip candidates to consider adding in a volatile market. Each one of these stocks has something different to offer investors and could be viewed as a bargain by the end of the year when compared to current price levels. Let's take a further look at each one below.

Alphabet (NASDAQ:GOOGL)

It's a lot easier to buy the dip when you are considering adding shares of one of the best companies in the world, which is a big reason why Alphabet should be at the top of your shopping list. As the world's leading internet search provider and the largest generator of internet advertising revenue, Alphabet's business model is dominant and not going away anytime soon. Investors can count on global advertising spending to steadily increase over time, which directly benefits this company given how marketers are continuously opting for online versus traditional approaches to advertising. Consider the fact that Alphabet has over 80% of the market share in the online search market, which is why advertisers are so interested in spending big to have their products show up on Google.

There's also plenty for investors to like about the company's YouTube video platform, which is growing fast and saw its advertising revenue increase by 83% year-over-year in Q2 to reach $7 billion. To put that in perspective, fellow FAANG stock Netflix earned $7.34 billion in Q2 revenue. Finally, the way that Alphabet generates loads of cash each quarter allows the company to continue to reinvest in high-growth opportunities including Google Cloud, self-driving vehicles, quantum computing, and more. Alphabet hasn't provided too many dip-buying opportunities for investors to take advantage of over the last year, which means it's a great option to consider amidst market weakness.

Edwards Lifesciences Corp (NYSE: EW)

Another quality name to take advantage of during market weakness is Edwards Lifesciences Corp, a stock that has rallied over 29% year-to-date and is still trading above its 50-day moving average after Monday's sharp selloff in the market. Buying companies that are global leaders in their respective industries is usually a sound approach to investing, and when the market pulls back investors have an opportunity to add shares of stocks that might not have provided an attractive entry point in recent months. Edwards Lifesciences is a global leader in medical innovations for structural heart disease and critical care monitoring. Heart disease is the leading cause of death in the United States, and this is a company that designs innovative medical devices and equipment to help patients with advanced stages of the disease.

Keep in mind that as the global population ages, there will consistently be a need for products like the surgical tissue heart valves which Edwards Lifesciences produces. The company is also rebounding nicely from the impacts of the pandemic, as in Q2 it saw sales grow 49% year-over-year to reach $1.4 billion. Edwards Lifesciences also raised its 2021 EPS guidance to the high end of its previous estimates last quarter, which tells investors that the company expects an increase in the number of patients receiving treatment with its innovative devices throughout the rest of the year.

SPDR Portfolio S&P 500 High Dividend ETF (NYSEARCA: SPYD)

If you are a dividend investor or simply want to start adding some extra income to your portfolio, adding shares of this ETF during the current market pullback could pay off in a big way. The SPDR S&P 500 High Dividend ETF is designed to provide investment results that correspond to the total return performance of the top 80 high dividend-yielding companies within the S&P 500 index. That means you can buy the dip in some of the best dividend stocks in the market without having to select individual stocks.

Some of the top holdings in this ETF include Baker Hughes Company, Metlife Inc, Franklin Resources, Marathon Petroleum, and Walgreens Boots Alliance. With a current dividend yield of 5.18% according to MarketBeat and an extremely low expense ratio, parking some cash in this income-generating security makes a lot of sense, particularly when the market is at such extreme oversold levels. The SPDR Portfolio S&P 500 High Dividend ETF is trading around its 200-day moving average after Monday's selloff, which might be a nice entry point for long-term buyers to consider.