With the mood of the market, people are going to be looking for stocks that haven't yet taken part in recovery and I think Nortel would be an obvious candidate because it's still fairly close to its lows.
Overall, fourth-quarter earnings growth will be weak because the economy has slowed much faster than people had expected.
People are still paying a lot of attention to the data. I would not say investors are being bearish. But they are taking profits when they can.