The market is going to be terrible. The last couple days ? with all the earnings warnings coming ? investor sentiment has been shot combined with the summer season.

The type of companies are not as exciting as we've seen in the past, mostly because the deals coming out are not in hot markets.

For the most part this really attracted income-oriented investors. Shamrock's business is relatively stable but there are some risks involved. The company depends on Ultramar and increased delivery of oil.

California's problems bring these deals even more to the forefront. There are headlines of the rising price of heating your house. This will help ATP in the sense that they are leveraged on natural gas.

Investors were looking for direction and Yahoo was the catalyst to make them more optimistic.

Investment bankers were being a bit too optimistic in terms of deal flow. The market has stabilized but I don't think there is a lot of enthusiasm yet. We are not yet in a strong, up market. Putting in 30 deals, when a couple of weeks ago there was hardly any, may have been too much to bear.

The IPO market is still relatively weak. Next week there are no deals expected to price.

The mindset has shifted from one of wild optimism to that of conservatism. The party is over and people are starting to sober up.

It's a good start in the sense that they're more subdued type of offerings, so less pure speculation is involved.

They're both in same industry but in different line of work. ATP is affected more directly by oil and gas prices.