We are in a healing process which will take a couple of months.

We are finally starting to come to those stocks that haven't given up ground yet. This is the first time that these stocks that are priced for perfection have shown some imperfections.

If you are a competitive investor, you've got to assume the Fed will succeed in re-igniting the economy.

I think we are in a correction that was way overdue. There has been tremendous complacency by strategists about the Asia problem and even up until last week everyone was raising their targets. The Asia problem is real.

Anybody with a long horizon has to be in the Internet one way or the other. The one they would pick which I would reiterate is America Online ( AOL ). It is a real company, It has real earnings, it sure ain't cheap, but I think that 21 million subscribers will pay off down the road.

This is a very anemic recovery. It has a lot of problems with it, and we don't have dirt-cheap valuations. I firmly believe the bear market is over, but this is not going to be a roaring bull market, and I think we're going to see a lot of interruptions and halting and starting before we get a consistently better market.

There are these little bursts of good news in the tech area.

Amazon has perhaps the best franchise in the sector and they are having trouble meeting revenues estimates ... and that hurts the entire tech sector.

More and more strategists are of the opinion that the Fed may be completely through.