Fund managers don't want to hand investors high dividends in the year 1999 but if they take them over the course of the year 2000, it doesn't hurt as bad.

We're not at the stage yet where investors are panic-stricken by any stretch of the imagination. Concerned perhaps, but certainly not panicky. I think from a volume standpoint, safety and quality (is where) the money was moving into and moving out of what we call lots of P and no E companies - lots of price and no earnings.

I think there's a lot of underlying buying interest, a lot of cash on the sidelines in this country. The Canadian dollar mustering some strength here should bring some foreign money watchers back into this country.

We began with a bang today and suddenly the sellers came out of the woodwork. Certainly a lot of hot money flowed into the tech side recently and that hot money moves so quickly. We may be close to a final sell off on the tech side because it went down a lot faster than it went up.