"We have problems with overbuilding, high interest rates and a sharp run-up in prices of single-family homes."
The dollar declined yesterday as traders took profits following Friday's sharp run-up.
A sharp run-up in the bond market propelled stocks to their best performance of the year yesterday, with several averages setting records.
It should have come as little surprise, then, that the first reaction to Citicorp's brave statement was a sharp run-up in its stock.
"But because of its sharp run-up, we would no longer recommend the stock on a short-term trading basis."
Now, after a sharp run-up, prices show signs of topping out.
Yesterday's sharp run-up in technology stocks was largely responsible for lifting the Nasdaq index.
Stocks had some down days after the sharp run-up of the previous week.
Continuing a trend that could deepen after a sharp run-up, oil stocks tumbled for the second day.
Drug, financial and technology stocks - among the leaders of this bull market - were all tempered yesterday, after a sharp run-up on Tuesday.