While the fourth quarter may show signs of weakness, most firms are far enough into their fiscal year and business cycle to avoid any widespread negative impact on 2005 results.

We continue to be concerned with the weakness in the online business, particularly among dial-up customers,

Dollar/yen has responded to horrific weakness in data which has continued over the last business day in Japan. Machinery orders were a bit of a horror story.

While we were able to continue generating revenue growth, this was offset by ongoing weakness in the Electronics business and lower automotive build rates. Additionally, earnings were impacted by a strengthening in the U.S. dollar, employee benefit expenses, rising raw material costs and the impact of the cash repatriation from Europe.

Given the positive sentiment...it would hardly be surprising if the market does take heart from any dollar weakness even though it ignored the move higher.

Selling is simply the transfer of inthusiasm.