Three back-to-school stock bargains

(MarketWatch) -- It certainly has been an exciting summer on Wall Street.

The stock market was choppy in June, surged in July and swooned in late August. The result is that the major indexes are more or less back where they started after the market correction in early May.

And unfortunately, it looks like Wall Street will continue to move sideways in September -- mostly because consumer spending remains weak and unemployment is persistently high.

There are more challenges ahead for the economy as retail sales are poised to decelerate and inventories start building once more. From a top-line perspective, underlying demand drivers look soft and margins look thin. That all adds up to continued trouble for consumers, retailers and the broader economy.

But don't think this means it's time to sell off everything and run for the bomb shelter. The most important fact to remember in a time like this is that we are investing in a market of stocks -- not "the stock market." There are always good companies doing well in the worst of times, and even in the heady days of a raging bull market there are losers that are bad for your bank account. (more)