The market opened higher, after some good economic numbers. However, we're seeing a pullback due partly to volume being lighter than usual.

Markets are basically in a holding pattern. We had some good economic numbers, but it's Friday ahead of a long Christmas weekend so people aren't going to make much a commitment.

What we're seeing is the opposite of two years ago, when every Tom, Dick and Harry was in the market. Now, everybody is shying away from that.

Accounting and other issues are still overriding the market. There have been some reasonably good economic numbers but the earnings situation hasn't gotten as good as it could. You could make a case for the bull and the bear.

We're still seeing fairly good volume.

The market is a bit nervous going into the OPEC meeting, but the real nervousness stems from the fact that we got some more earnings warnings which is making the market quite defensive.