"The third quarter of the year has historically been the roughest on the stock market," notes advisor Kelley Wright, a specialist in dividend paying stocks.

In his IQ Trends newsletter, he notes, "One could argue that a correction and consolidation would be healthy and is long overdue." That being said, he adds, "The opportunity currently exists to acquire high-quality companies with long-term rising dividend trends."

Within this framework, he sees opportunity in two favorite blue chip retailers -- Wal-Mart Stores (NYSE: WMT) and TJX Companies (NYSE: TJX).

He says, "It seems like every summer we hear analysts agonize over weak retail sales from May and June. I've often wondered if any of these folks have heard of the phenomenon known as 'vacation.'"

He continues, "After a long school year with the seemingly never ending number of trips to pick up the dozens of items that the kids absolutely have to have, I know that my wife doesn't want to go anywhere near a store unless it is a medical necessity."

Says Wright, "The calendar cannot be ignored so I suspect that when Uniform Day (as they call it at my kids' school) rolls around in mid-August, parents across the fruited plain will be descending en mass to pick up clothes, shoes and the requisite supplies for another school year. And, he states, "I believe both Wal Mart and TJX Companies will be potential beneficiaries of this impending spending spree."

Wright explains, "Both companies are ranked A+ by S&P for their earnings and dividend quality. In addition, both stock have excellent dividend histories. It is a fortunate circumstance when quality and value intersect with opportunity."

Each day, Steven Halpern's TheStockAdvisors.com features the latest investment ideas and market commentary from the financial newsletter community.