Tech companies in general are going to have a multiplier effect versus the GDP. So as long as the GDP stays relatively strong, tech earnings should be a multiplier of that. If we see the GDP slow down markedly, then we could have a real problem in technology. But we don't see that yet.

Tech companies tend to do tech best.

We've actually had a bit of a stealth rally here in August. As many people have been away for vacation, the market's done fairly well in here. We still are pretty favorably disposed toward the technology area, and as we go into the Christmas season we'll see probably more activity there.

The ruling itself really had no details that were completely surprising to anyone. The final ruling won't come for at least a year here. So we have a period here through the summer where the stock will have no significant news other than fundamental earnings announcements.

The market has clearly accepted the notion that the Fed will back away.

We had to have some kind of frequency multiplier,