I think we are transitioning from a bearish mood to a bullish mood,

We have been and we remain in a very powerful bull market, ... in near term basis, the market has come long way in short period of time? and odds favor a bit of a time-out in the next week.

Applied Material's multiple is bound to -- down to something like 15 times forward-looking earnings. The multiple less in the overall market and it's a great company with dynamic growth prospects.

The economy is growing at a reduced but healthier pace. We don't anticipate any inflation problems, and corporate earnings are going up, up and away. So, yes, we're still bullish.

The best stimulant you can have for a market is an 'up' market, and it feeds on itself. The market is 90 percent emotions, and the mood shifted.

(Intel) is down but not out. We have a very nervous market and it's the dog days of summer. We are short-term overbought so we're giving some of it back with the excuse being Intel.