We continue to believe the company's assumptions appear to be somewhat aggressive given the recent softening in demand trends and the weak orders in the quarter.

There's already been a considerable softening in housing demand which preceded the recent rise in mortgage rates. Which leads me to believe that the weakness at a minimum will continue, and may likely accelerate.

This would seem to indicate that those trends have not reversed course, and perhaps have even accelerated to the downside.

We believe the high pace of construction activity and softening demand will lead to increasing inventory levels through 2006 and less price appreciation.

If we see softening figures for demand, then it could take the market down. Hurricanes affected supplies and the demand side was roaring, but now production is coming back online and we're seeing demand erode.

It is somewhat unusual for conference sessions to completely sell-out, but I believe the demand for IP training is so great, that it necessitated that we add another and that one sold out. We have a waiting list for future dates.