Once we get through the uncertainty, we could have a real powerful move on the upside.

In periods of uncertainty or crisis, markets do tend to perform together. Over a time frame of five to 10 years, that volatility would ease and diversification between markets would become more visible.

It's more of the same: uncertainty and energy, ... Throw in inflation and the possibility of slower growth because of the hurricane, and we're all out of sorts. There's no good news out there.

The markets are capable of rallying. But whether they can maintain the rally is more important, particularly with the Nasdaq.

I actually think that, a few months from now, we're going to look back at last week and maybe even this week and look at it as the low. I really think the damage is done.

We're almost in a win-win situation here, I think, because you're out of that dismal earnings season for the most part with all of those pre-announcements. If we can just stop hearing negative news from corporate America, at least until the Fed meeting, I think we'll be okay.