Riding on a previous correction, investors were willing to build positions in consumer electronics with rosy prospects.

Obviously it's been a massive correction. Investors should focus on companies with real products and late-stage pipelines.

Investors in early trade locked in profits, taking note of the weakness in some regional markets.

I think the Nasdaq is playing catch-up, because we have had a full blown correction in most of the major indexes, but the Nasdaq hung up there I think toward participating fully,

We've climbed very quickly and strongly so prices are ready for a correction. The fundamentals haven't really changed. The crude market in the Atlantic basin is well supplied.

The fact that we have gone three years without a correction tells me we are overdue for one. Markets don't go in one direction without interruption.