Clearly we're starting to see a pattern. The job that they're (the Fed) doing is starting to work.

Clearly investor confidence has not come back in the market.

I think we're clearly in summer vacation mode, so we're going to have low volumes -- which has a strange effect on equity valuations and tends to exaggerate moves,

They were less forceful in their rhetoric and that shows a little light at the end of the tunnel, ... Clearly they're at a point where what they say is more important than what they do and that's playing itself out in the equity markets.

We need some capitulation in the economy and if we get any sort of turnaround in the economy we can turn this market around on the Nasdaq. We're clearly in a market searching for a bottom.