It was basically not a good day for the tech stocks in general and that's the main reason why we saw the 144-point drop.

A Combination of Nokia saying it wouldn't do well in the third quarter, which seemed to hit all of the tech sector, the end of the Nortel Corning talks, and I think the market overall got nervous about what might happen in the future.

There's a lot of strength in technology names that are high-quality companies, particularly those related to optical networking,

This kind of swinging huge amounts from hour to hour suggests that people are not looking much at the fundamentals and not grounding their trading decisions in what's really going on with the companies.

This is the time to be buying integrated oils.

They got what they wanted, but they weren't particularly excited about getting it. That (half-percentage point cut) was already built into prices.

Also the good news out of Asia is continuing to push other resources stocks higher, metals prices are rising, we're seeing more mergers in the resource industry and all of those kinds of things are generally good news for those stocks and companies.

Any nervousness about Cisco translates into Nortel and all other high quality technology stocks and into some of the smaller riskier ones as well.

Any little signal like this can lead people to sell first and to think about it later ... and it's partially a response to nervousness over whether the good times can continue,

Depending on what the CPI shows and what Greenspan says, the market has pretty much decided that we won't see a rate hike at the end of the month or through the rest of the summer and, therefore, there might be a quarter point (hike) some place but the Fed's pretty much done,