We should find a temporary bottom here. I've been watching the news ever since the market sold off yesterday. Everything is negative. Everything!

It bothers me that the price went up.

By the time companies make announcements that things are better, stocks will already have bottomed.

The stocks that have the strong earnings are in tech but you're not getting any leadership in terms of group movement out of the technology sector and I think that will likely be the case in the fourth quarter.

What would be more impressive would be see a day like yesterday and then follow through from that move. Let's see if the Nasdaq composite can advance for more than two or three days and on volume. Every rally we've had off the low has been on below-average volume.

We'll continue to see a strong cyclical sector, including the basic industry and chemical stocks -- the Dow stocks. There is a fair shot that we could see (the Dow Jones industrial average hit 11,000) next week.