Historically, these types of declines haven't really been bad news for the market because they force the Fed to take action.
More Quotes from Charles Payne:
I think it could have been a lot worse (at the open). But I think it's important that the Dow stays above 9,600 or we could see another wave of selling.Charles Payne
The resiliency of this market is amazing. We're really seeing the individual investor coming back and buying on the dips.
Charles Payne
I think it's a little too late to really tout short selling. These aren't strategies you can employ and not be able to watch the market.
Charles Payne
On down days it's been light, and on up days it's been huge, so that's a sign that investors want to buy this market.
Charles Payne
I don't think anyone expects any fireworks from the Fed tomorrow but it's normal to have a pause before a Fed meeting.
Charles Payne
The bears came out this week and didn't spook everyone off. When the market was too weak, there were buyers and as long as there are buyers on weakness we're OK.
Charles Payne
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