There is such apathy toward investing.

I think there's apathy in the market. The cruel reality is that earnings do matter and, in the absence of any new catalyst, you're going to get days like this.

A lot hinges on the numbers. If they're good, the market rallies. If we get any suspicious numbers, or more accounting-related stories coming into the fray, we're looking at lower prices again. It's a time of caution and some confusion.

Profit taking will be key words today (Thursday) and over the next couple of weeks. The Fed's rate cut yesterday bodes well for the longer term but near term it is an excuse to take profits. Cisco's story is another excuse to take profits in technology.

There was rotation out of the strong sectors into the weak sectors. Techs really got hammered. Volatility, up and down, means there are just as many sellers as buyers, and people think the (semiconductor) sector might be a little pricey, especially as we come into an economic slowdown.

The situation is very tenuous on the equipment side and any slowdown in demand in the equipment side of the equation, when you are priced to perfection, means these companies are still very expensive,