(11-20-13) It starts off with comments by the Notorious Corporate Raider Carl Icahn who says "markets could easily have a big drop" because he thinks that equities are overbought and that could be subject to a hit. But he's not the only one saying that.
So who else is saying that? Just about everybody they try to keep off of financial media. You can see the desperation on CNBC, for example, by having hordes of what I call Retail Wirehouse Touts to say that the markets are going to continue to go to the moon.
Then there's Fed Governor Bill Dudley who said, "However, the notion that the economy will grow more swiftly remains a forecast rather than a reality at this point. As is always the case, there is substantial uncertainty surrounding this forecast. Moreover, there is always the possibility of some unforeseen shock. Thus, we will continue to monitor U.S. and global economic conditions very carefully and will adjust our views on the likely path for growth, inflation and the unemployment rate accordingly.