You can make a fair argument that they were undervalued. Some were priced for bankruptcy so it's not that surprising that we've seen this bounce.

We're already starting to see valuations get stretched again. It's not unlikely that we can get back close to 1,700 on the Nasdaq, but I don't think that's necessarily justifiable. That's just a function of trading psychology in the short run.

We're fair priced, and all our entrees come with choice of soup or salad. They also come with vegetable and potatoes.

It is very troubling, but not surprising.

A quicker-than-expected recovery in capital expenditure spending will probably be the biggest catalyst, if one occurs at all.

Valuations remain a little stretched, and we could see some further weakness into the early part of the year.