Paul Cherney Drop Quotations

Shorter-term momentum traders are taking their profits right now, and longer-term investors are sitting on cash waiting for a better buying opportunity. The problem is, to get a better buying opportunity, prices have to drop lower.

It should be a positive for the market. The decline was more than expected. It probably has to do with the drop in energy prices that we've seen. To come in down 0.7 is less inflationary pressure.

It's a bigger (CPI) drop than expected. I think this serves to reinforce mounting concerns that we could be seeing some deflation,