Low volume tends to exacerbate any moves, and I think on Friday everyone on Wall Street is going to have skeleton crews on staff.

I think this choppiness is definitely going to continue over the next few months, ... The Street is very indecisive about what the economy is going to do, what the Fed is going to do.

I think this choppiness is definitely going to continue over the next few months. The Street is very indecisive about what the economy is going to do, what the Fed is going to do.

I think that the S.E.C. has been pretty feckless when it comes to reigning in reckless behavior on Wall Street.

Sir Gerald Moore: I was at dinner last evening, and halfway through the pudding, this four-year-old child came alone, dragging a little toy cart. And on the cart was a fresh turd. Her own, I suppose. The parents just shook their heads and smiled. I've made a big investment in you, Peter. Time and money, and it's not working. Now, I could just shake my head and smile. But in my house, when a turd appears, we throw it out. We dispose of it. We flush it away. We don't put it on the table and call it caviar.

Given the severity of the downturn, I would think we'll get a little more of a bounce over the next few weeks, but I wouldn't expect much beyond that. I think it's going to be a long, hot summer.