The possessed kid in 'The Exorcist,' whose head spins around.

The fundamental news and the inflation news remain quite positive. We had that big six-week rally in October. Stocks at this exact moment just don't seem ready to stop this correction.

The futures are flat this morning. We've had eight days of a good rally. The short-term momentum is still up for Wall Street but stocks are looking extended.

The economy is growing at a reduced but healthier pace. We don't anticipate any inflation problems, and corporate earnings are going up, up and away. So, yes, we're still bullish.

The economy is showing definite signs of slowing down to a healthier rate of expansion. I think the reason, good or bad, could be laid at the feet of the Fed.

A high level of employment is not a negative, it's a positive?. The problem arises if, in fact, it creates wage inflation. And we're not getting that,

This is long overdue profit taking in the momentum stocks.

This is normal and overdue. But we've probably not seen the bottom.

This is not a bad day. We started up and we turned around and now we're doing better.

The market got itself deeply oversold after six months of correction. Now people are looking at fact rather than fiction and seeing the economy has already slowed to a healthy and sustainable rate.