"I think there will obviously be some activity in the last few days leading up to the 31st August, but I don't think there will be a mad rush of players going to clubs."
"The thing that might stop it going crazy is the lack of money. If the clubs were cash-rich at the moment they would be spending now, not waiting until the last week of the window.
"The reason the market is so quiet at the moment is because there is no cash.
"It was interesting to see what Keith Loring, the chief executive of Derby County, said last week - that there are 500 or 600 players out of work at the moment, but if clubs were allowed to release players that were on contracts for this coming season that they didn't want, that would probably double overnight.
"So clubs are not looking to take players in at the moment, and you will find that there are more clubs looking to offload players that are under contract.
"And that is not just in the first, second, and third division, but in the Premiership where players are in squads that clubs would release if they could.
"But they are not going to because they are contractually obligated to the players to stay with them."
To this end, he does not anticipate making any deals himself - which means the ideal of bringing in a physical forward has had to be shelved.
But if he does make a move, either a late one this week - which is unlikely - or when the window opens for a month in January, he says he will be extremely cautious.
"When the financial situation is as tight as it is right across football at the moment you can't afford too many mistakes - you have to be as careful as you can," he stresses.
"Even the shrewdest operators do make them, though, but you have to cut them to a minimum."