A higher top than in 2000, I felt it's turn down could be significant.
(click for larger)
This is becoming all too common place last few weeks, traders don't want to hold over the weekend, or past END of day! Unlike when they HAD to have stocks and rally into close.
37 new lows, still not over 40 and counting. 78% DOWN volume a nasty down day % wise.
JACKSON, Wyo. (AP) -- Federal Reserve Chairman Alan Greenspan on Friday cautioned Americans against thinking the value of their homes and other investments will only go higher, saying "history has not dealt kindly" with that kind of optimism.
Greenspan also said that bloated trade and budget deficits threaten the long-term health of the U.S. economy. *(wasn't HE the Rube that went along with tax cuts and lowered rates causing the bubble??)
MORE GREENBOMB
Greenspan, however, said people shouldn't count on that paper wealth, which can evaporate if economic conditions deteriorate rapidly.
"What they perceive as newly abundant liquidity can readily disappear," he said. "Any onset of increased investor caution" could cause home and stock prices to drop, he noted.
A long spell of low interest rates and low risks for investors has especially encouraged investment in homes. Greenspan worried about what would happen if that climate were to change.
Stock prices and house prices are factors that Fed policy-makers are increasingly needing to consider when setting interest-rate policy, Greenspan said. "Our forecasts and, hence, policy are becoming increasingly driven by asset price changes," he said. (end)
OIL falls, stocks fall anyway. PIXR investigated by SEC
Under Armour going IPO Do you TIVO? or dreaming of profitability.
Traders and volume should be coming off vacation soon.
Duratek
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