Waiting for the fat pitch

Good things and bad things going on at the same time. I've gotten my options account up and I'm up about 4k... That's peanuts. I'm eye balling a company that looks very nice to me, I feel that it's worth at the very least 50% higher than where it is right now and I'm willing to bet a very large amount of money on it, but the timing feels really bad. So I'm just waiting to see what happens in the market, and then follow up and see how high it can go. Market's always overshoot and undershoot, it looks like it's overshooting now to me. The world economy is really bad, the main driver, which used to be the American consumer is crippled. There is no way China will be enough to pull this world out of recession, because they are the ones who have relied so heavily on the American consumer. The european crisis is still ongoing, commodity prices are sky high. Where this is all heading I don't know, some really smart people have been predicting a market correction of anywhere between 10~30%. I'm waiting for that dip before I start to buy in. The business is doing very well, and I think I ought to be able to buy it at maybe 10~15% below what it's selling for now. If possible I will probably go for at least a million...