We expect further escalation of Internet technology competition in 2006 to $2.7 billion up from $1.9 billion in 2005.

We expect Amazon, eBay and Expedia to continue to invest in technology and content in 2006 -- which could pose a near-term risk to 2006 street margin expectations.

Technology stocks could possibly come down more. I think they still appear to be vulnerable, including some of the Internet top stocks, including some of the stocks in the software field.

I think [with technology] we had a two-year run that was fantastic and the Internet is off the front burner. It really is in trouble. You look at the top three market caps -- AOL, Yahoo!, and Amazon, the technical trends are very mediocre to negative. And that's true of most of the others as well in the Internet area. So I wouldn't be so hot on tech especially at this time of the year when risk taking is really not a good idea. This is the worst seasonal period of the year going into late September and October. Now we may have one more little move up to the summer rally highs, but I wouldn't be chasing it,

You can't be global without leveraging technology and the Internet.

This kind of technology is such a fundamental part of the Internet that to try to have a blanket ban against all technology like this is essentially saying people on the Internet can't exchange files with each other. You just can't do that.