People have been shying away from high-tech issues, which are vulnerable to changes in external demand. But they are bullish on those dependent on domestic demand.

Can anyone believe that today's rally suggests a change in the trend? We are not that optimistic.

We all know stocks are starting to look cheap. But it's like staring into a bottomless pit right now.

There was a sense of overheating. For the market to advance further, we need some new supporting factors like strong gross domestic product numbers or a supplementary budget.

Big institutions are preparing for the fiscal year end, so there are few sellers in the market.

The bad debt overhang has this market trapped in a range. It flew on hopes for (Prime Minister Junichiro) Koizumi reforms, but has little chance of breaking out until he maps out a more concrete plan to clean up the mess.

The market's...been braced for political uncertainty in Japan and in the U.S., ... Sellers cannot be too aggressive because a consensus now is that the Nikkei below 15,000 could be a bargain.