Perhaps it's a function of the fears that (Fed Chief Alan) Greenspan has already gone too far (with interest-rate hikes) and the worst news is yet to come.

There seems to be a growing perception that (Fed Chairman Alan) Greenspan is engineering what has historically been so elusive on Wall Street. And that's a soft landing, which is generally good for stocks.

Perhaps as the year unfolds, you are going to see repeat (earnings) disappointments.

It was a very strong report. It shows the rate hikes engineered by the Fed so far have had little or no impact so far in slowing the economy.

It is far better to build a child that?s strong than to repair a child that?s gone wrong,

I think what's happening is a continuation of the correction in the overbought technology sector that began a couple weeks ago.