If the rate increases do stall out at 5 percent, I think there's still tremendous upside room for this group of stocks. Rates will be a very key metric that's going to determine whether these stocks make new highs or pull-back.

We still think there's at least 10 percent upside in tech, ... The sector's had a tremendous run, so it's not surprising that it's taking a rest. There will be follow through. When that follow through will take place is anybody's guess.

A good part of the rate increases we're seeing can be attributed to Hurricanes Katrina and Rita. I think it's safe to say everyone's cost has gone up.

Bonds finally showed a little reversal. We put in a high on the long-terms and then dipped off of that. I think the big bond funds came in and started taking profits after the recent run. The real test will be if we can hold these levels.

People are looking for more clarity in terms of Iraq, interest rates, oil prices and the dollar.

It's the Wednesday before Thanksgiving, there's no one here, desks are half-staffed. There are going to be even less people around Friday.