After soaring past 14,000 for the first time in history last week, the Dow fell 226 points today to close at 13,716. I wanted to get in touch with you, as I always do, to provide you with my take on the market's latest events.

Today's drop was a textbook example of profit-taking. The market had a great run last week, and it's simply consolidating its gains. I'm not concerned about today's correction, and you shouldn't be, either.

Weighing Wall Street down today were disappointing earnings reports from several Dow components, including DuPont (DD), Texas Instruments (TXN) and American Express (AXP). Continued woes about the subprime housing market also factored into the selloff.

For instance, Countrywide Financial (CFC), a mortgage lender, reported a 33% decline in quarterly profit today. And, as more homeowners fall behind on their payments, the company said it must slash its guidance going forward.

The subprime problem is primarily a banking problem, and it's also a hedge fund problem. The housing market's problems are helping to facilitate the market's "seismic shift" from value investing into growth investing. As more investors flee subprime-related value investing, growth stocks have emerged as an oasis amidst the crisis. Today's selloff will only help investors gravitate towards my style of investing