Fundamentals haven't changed enough to substantiate worries that the Federal Reserve will cut back on quantitative easing yet, Josh Brown of Fusion Analytics said Monday.
Noting that stocks took a leg lower following a Financial Times article that said Chairman Ben Bernanke would likely signal this week that it would draw down its $85 billion-per-month asset purchase program, Brown brushed off the claim.
(Watch Video: The Incredible Shrinking Rally)
"They don't know anything," he said. "No one knows what's going to happen."
On CNBC's "Fast Money," Brown added that he didn't understand how such a headline would change an investment thesis.
"I'm not sure what your time frame is," he said. "I think the big boys did not move. Look at volume-weighted average price. You didn't see a huge change-around in what was happening throughout the course of the day. You saw players at the margin lighten up a little bit, maybe some shorts come on, but really I don't think this is anything for us to freak out about."
StockMonster's Guy Adami said it made perfect sense to him that investors were reacting to every news article.
"I think people are terrified that the next headline will derail the rally," he said.
Stuart Frankel's Steve Grasso said that a dip in the market was welcome.
