Valuations still remain high in the European technology sector. I see about 10-15 percent further downside in the sector before prices begin to get interesting again.

The dollar has strengthened notably versus the euro in the past week, which will undoubtedly help provide a well-needed boost to European profits.

The recovery is not off the ground yet and there's a danger it could be nipped in the bud in its infancy. I think a lot of economists who have been very cocky over the last month, revising expectations up to ridiculous levels, are starting to backtrack.

If Nasdaq got involved, there would be more momentum for a tech market in Europe.

Technology made the world a very small place.

If people have the technology readily available to them they will use it, but they aren't going to go out and buy it.