Initially it was just shocking that this stock would be downgraded. But it looks like we're really starting to get this 'buy on dips' crowd and that's good for the market.

The recovery is going to take longer than anyone initially hoped for, and (Nokia) is the biggest name to warn so far. I think it was wishful thinking that the turn would happen overnight. But it's not a bad assumption to believe that things are going to get better -- it just takes time and maybe investors haven't been realistic.

I think most folks know what they want to buy. Certain stocks are starting to creep higher and you want to be ahead of the curve.

The stock looks overpriced,

People are starting to understand this is not your father's Astroturf.

I think that whole idea of the calendar starting in September is really eroding.