[Market] bottoms take time to form, ... some visibility on earnings.

If I can get money from you, there must be some earnings there.

The Dow is more a barometer of the economy and not so much the stock market. The photography sector isn't all that crucial to the economy.

The market is in denial about earnings. The story about small caps is that the Russell has consistently outpaced the growth rate for big caps since the second quarter '97, and the margin is widening.

I don't think we're in for Armageddon, but there's not going to be any visibility on earnings. So we've got months of trading fun and investors can go to the beach.

I do not see any earnings visibility in Amazon and in fact, I noticed how they are getting rid of some of their employees and starting to do the things that other companies that have problems do,