Who cares about the Indonesian stock market.

The stock market, believe it or not, is finally acting rationally. The market itself, which is a collection of what everyone thinks at any moment in time, is doing what it should be doing... I think it's a very healthy correction.

People are cautious. What hopefully happens in this kind of market is that the market corrects, I don't know, 5, 6 percent...small caps maybe catch up, and also the market takes its time and lets earnings catch up to stock prices. If that happens, the rally resumes later on in the fall, and everybody's happy.

In the middle of a correction, the market seeks to find a bottom and a top -- some kind of range that it can operate in comfortably. So you'll get wide swings as traders try to feel out where's the top, where's the bottom, where's support, where's supply.

The market is struggling with the fact that its biggest prop, the bond market, is not cooperating. Bonds are in a slightly downward trend. Until that works its way out, we're going to be in for a choppy market.

People are cautious. What hopefully happens is that the market corrects ... takes its time and lets earnings catch up to stock prices. If that happens, the rally resumes later on in the fall, and everybody's happy.