The Internet, ... is the place to be, especially on the retail side in the fourth quarter.

The fundamental picture is still strong. No one has said technology is dead.

For (the fourth) quarter, there's just nothing to get excited about. Now, the question is: Where do the companies see things going?

If you think about what has really led the Nasdaq for the past six months, ... the answer has been exceptional growth rates. If you're a company with these phenomenal growth rates, your stock has gone to the moon; if you actually make money, you've languished. That's been a reversal, and that is good for right now. So if you look at areas such as semiconductors, enterprise hardware, software and wireless I think these types of companies are all going to all deliver strong earnings.

Internet companies tend to do extremely well during earnings season because most of them aren't earnings stories yet,

Institutions and the smart money out there has been owning a lot of these higher P/E stocks, to participate in the good earnings, and they've been getting the good earnings. But the problem is that the stocks haven't been running up into those earnings. So they're not getting paid for that higher P/E risk.

The chips that are going into these kind of equipment are absolutely phenomenal. These guys are seeing their lead times extend. They're seeing pricing starting to firm. And again, just like everybody else, their biggest issues is capacity. They're having to build out every single month and it's going to be a pretty amazing run.

Excellent acquisitions, ... Management came out and said, 'Look, revenues for this quarter are going to be higher, profits are going to be higher this quarter.' The fundamentals are very strong. To us, they look great. So I think the stock is poised to do well.

It's called the Santa Claus effect, ... The holiday period is traditionally a strong cycle.

It's going to take a turnaround in the earnings picture, ... I think the upside begins when we get our next rate cut.