Gray days

1. We do not like the level of shares increasing and increasing.
2. We do not like this: the nation's second-largest homebuilder said a year-long housing slump is unlikely to end this year and the Federal Reserve cited slowing growth in several local economies.
3. We do not like this: Almost 1.7 billion shares changed hands on the Big Board, 8.9 percent more than the three-month average.

S&P: -3.44%

Imagine 3.44% less in major economy on Earth! It is too much.

Could this mean a near bear market? Or could this mean the next day rebound? If you compare 1.300 points one year ago, with +100 points today, the S&P is making 7.5% return.

In days like this, we want to be a small fly around Warren Buffett: who last year generated a 24 percent return for Berkshire Hathaway Inc. shareholders, may this week tell investors and followers to lower their sights for 2007.