There's some nice symmetry because now we've taken back the 75 basis points Greenspan gave us last year. The Fed has been saying steady as she goes for the last few years if you add it all up, and maybe this is where we will stop.

You're fighting to a stalemate between those people worried about interest rates and high valuations and those people excited about truly good earnings. I think you're going to be in a trading range for most of the summer until some event that we don't yet see takes us out of that - either the Fed stops raising (rates) or there's bad inflation news.

If AT&T, for example, is any indication, the shareholders have a lot to gain (from this effort). The executives?have the belief that the parts are worth more than the whole. And to get one piece of that sexy Internet business in this kind of a market, they could very well be right.

I still think we're in a consolidation mode. I think you'll see some profit taking still for the next couple of weeks, but then we're in line for a summer rally.

That will surprise the Street and lead to a higher stock price.

This Microsoft news is going to be terrific for all those PC companies that have been taking it on the chin lately -- Intel being one, but Dell and Compaq and others, I think, will certainly benefit today.

It's an under-followed classy insurance stock.

I think that's a terrific buy right now.

Microsoft could very well be the next Microsoft.