We knew the ending of the movie before it even started.

It sure was a light trading day. London was closed and it's the last week of August, which tends to historically be a light trading period.

The big fear, and the cloud that is overhanging the market is inflation. Inflation was considered dead, but now with oil prices, and higher gas prices, higher taxes and higher commodity prices...all of this with higher activity, eventually it's got to show up.

It's not surprising -- they had a rapid move up and now there's a correction. This is the first major correction for this group and it's healthy.

It was a bit skewed because a lot of the participants south of the border were away, but it was a pretty broad-based rally.

What everybody was hoping would be a temporary situation may well be a protracted legal affair. That has provided the opportunity to this market, which was already nervous, to look at the worst case scenario: weeks of uncertainty.

Old economy: 1; new economy: 0. Yea for the dinosaurs.

It's the same old (story). Growth and inflation. That's what's bothering the market.

Unbelievably strong market. There was definitely a catch-up.