We're not at the beginning of a decline. We don't believe you're about to enter another horrendous down phase in the market measured by the Nasdaq. We think there are some tough times ahead over the next one to three months. But if you take a longer view of that, many of these companies in the Nasdaq big cap are starting to come down to levels that look fairly attractive on a growth basis.

There is also a little bit of nervousness ahead of tomorrow's employment report, which is expected to be strong. It just focuses investors on the higher interest rates that are still in the offing.

There are no major positions being taken ahead of the Fed. I think people are just being very short-term oriented - you see a stock that has a good story and you invest. But you do have to be careful - you don't want to overstay your welcome in any stock.

The market is just reeling from all the impediments ahead of it. There doesn't seem to be any meaningful reaction to any news on the earnings front or meetings that company's are offering to tell you that things are not as bad.

There are still tough times ahead in technology, ... Wall Street wants to see only greater-than-expected earnings.

I think there's still more upside ahead into next week, and as we look at the market beyond near term, I think the surprising strength in the economy is going to help us in the first half of 2006.