There's been a lot of activity in restaurants and stores on fears there will be damage to their operations.

Look for it in the earnings of discount retailers, restaurants and travel sectors. Start to look for GDP to be impacted, earnings in the third and fourth quarters, especially now because we're starting to approach the home heating season. This is not good. We haven't seen anything like this in the better part of 25 years, where you start to have people thinking about gas lines.

A jump in durable orders is also a plus.

It's mostly just celebrating that Rita didn't turn out to be as devastating to the Gulf as feared, and energy prices are down, ... Almost all sectors benefit because people have more money to spend.

Nasdaq had a pretty big pull-back yesterday, so Intel's helping today,

In general we try to cut our positions at the end of the day and even more so on a weekend. Ahead of an event like this, you're going to be a lot more conservative than normal.