If the economy is growing, companies' earnings are growing and that moves the market.

It just reflects Wall Street's manic-depressive mood. In the meantime, you have some selective cautious buying, but I think people are much more cautious and not just jumping in on any dip.

Individual investors have to separate the statistical noise of week to week numbers and focus on the big picture.

The market has done well in the year following a recession. We think the recession has ended.

Take IBM out and the market looks pretty much unchanged on the day.

The market is nervous. We're in a transition period as we get through all the accounting issues.