We think the quarter had more for the bears to grasp onto than the bulls.

The bulls and the bears have been slugging it out for the last day or two in the market and I think some of the bulls went home after the morning and the bears are sticking around to pound the stocks.

We see signs of a turn.

We expect Jones to report total revenue of $1.15 billion, a decline of 14.4 percent versus last year, and earnings of 47 cents per share. Management did not provide quarterly guidance, and this quarter will reflect a decline in revenue due to the sale of Polo Jeans Company.

We see major headwinds for Kellwood, more than any other apparel company. We believe its problems are mostly brand and distribution problems, and we don't expect these problems to reverse.

Sales decelerated in Europe and Asia, futures excluding currency were below expectations, and currency took a big bite out of futures.