I think what's happening is we're having a struggle between very strong earnings (and) the counterbalancing force is the concern of rising interest rates, and so it's the fight between those two things that I think is keeping pressure on the market.

The Federal Reserve does not want to have to raise interest rates. The next best thing is to have the market do it for them and that's exactly what happened.

They're not done. They're giving us another present in January. You can't lay off [people at] company after company after company and not stimulate this economy. I think the Fed is scared to death.

I think what's happening is exactly what the Federal Reserve Board wanted to happen. They wanted to change their bias from neutral to tightening to slow down the markets - and that is what's happening today.

There was a concern that capacity utilization would be a little higher because the auto production has really been up a lot and there was concern that number would spook the market.

The predicament that we're in with our economy is the mistake the Fed made two years ago. I believe they know they made a mistake, and they have to give it back to us.

I think [earnings] are going to surprise on the high side. Our expectations were much lower for earnings because we thought the economy was going to be very slow in the third quarter and that didn't happen.

I think that the next move with interest rates is going to be up and, quite frankly, ... the numbers we saw this morning were stronger than expectations and so we see that the consumer is not slowing down at all and you have the bond market a little on the edge.

When you get these top-line blockbuster deals, they will guarantee that we will have future deals coming as a result of this, and so I'm telling you the landscape will change as a result of this.