Markets are nervous right now. A few months ago, anthrax was our big 'A' word, and now it's accounting.

There's a lack of leadership right now. Investors don't know where to put their money. A lot of people are waiting to see what the flood of earnings is going to be over the next few weeks.

We continue to see bias to the buying side, but it's less drastic than yesterday. We're in a wait-and-see mode with earnings, and we're seeing a little profit taking today. ... The jury is still out on how the rest of the earnings will be.

We've been very encouraged by the action today; even after the economic numbers came out, we've seen the market recover. I think it's good that the markets are bouncing off key numbers. I think [a Fed rate cut] is a real toss up -- tomorrow's unemployment number is going to have some effect on that.

Yes, the mood has shifted to something more positive, but we may need a little more continuity and volume for it to really stick.

There has been no panic selling and very orderly trading.