Stocks had their second consecutive weekly decline. The 1% decline was due largely to uncertainty over the actions of the Fed. Interest rates have begun to rise, with 20 year Treasuries yielding 2.8% instead of 2.5% just three weeks ago. House prices had their largest annual rise since 2006 and are now at the levels they were at in 2003.
I predict that this is the beginning of a 10% decline. Short Gabelli Equity Trust Common Fund (NYSE: GAB)
Disclosure: I am short GAB.