The market is pausing for breath. Mergers and acquisition activity and speculation has slowed slightly, which is probably slowing the market down a little.

This should induce some slowing in housing market activity, but we expect the housing market in 2006 to be strong, nonetheless.

It was a little overbought, ... It's pausing . . . it's probably going to make another run at 10,000 in the next couple of days.

It was a little overbought. It's pausing . . . it's probably going to make another run at 10,000 in the next couple of days.

In general, this should be a mixed quarter, ... Clearly, M&A is strong but the IPO market has slowed down, the equity market is weakening and the fixed income market is limping along.

Again it's all driven by mergers and acquisitions activity, and telecoms are in the limelight.