Many investors were likely grinding their teeth yesterday, as the markets shed early gains to drop firmly into the red. Like Danny Bonaduce tossing Jonny Fairplay over his head, the indices took a turn for the ugly and didn't look back.

But not everyone was wincing. In the CAPS community today, CAPS player EPS100Momentum writes "thank god for yesterday's correction," adding that the drop presented good opportunities to pick up stocks that had gotten a little too hot.

He specifically points out China Finance Online (NASDAQ:JRJC), which fell 11% yesterday. China Finance may be a questionable example, though, since the stock carries a lousy one-star rating on CAPS. Many of CAPS' top players have been solidly negative on the stock -- including chk999, who thinks that it's part of a bubble in its native country.

However, it still rings true that when the market goes down, you can do that Mr. Burns thing with your hands (eeeexcellent), rather than wringing them. A number of highly rated stocks on CAPS also saw their prices decline yesterday, including five-star favorites Cognizant Technology (NASDAQ:CTSH), GameStop (NYSE:GME), and Freeport-McMoRan (NYSE:FCX).

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Fool contributor Matt Koppenheffer does not own shares of any companies mentioned. You can visit Matt on The Fool's CAPS service here, or check out his blog here. GameStop is a Stock Advisor pick. The Fool's disclosure policy thinks Jonny Fairplay totally has a case.