But on the other side, you have Morgan Stanley, leaders in the brokerage world, putting up huge numbers.

We also like, believe it or not, Morgan Stanley, which is our top pick in the brokerage field, although they may have another quarter and some stuff to wade through. It's selling at a very steep discount to the group. It's our top pick,

We're likely to see a sharp and meaningful correction that lasts a few months.

We're starting to get little pockets of softness, which causes people to worry about (the Fed) going too far and causing recession.

With the way the precious metals and the oil continue to soar, I think the market may be just a bit worried that the Fed may signal it indeed has a little bit of work left to do.

You look at Morgan Stanley and its peers, you see a lot of reliance on their proprietary trading desks and a willingness to take on more risk. If the markets are reaching a cyclical peak, which I think they are, profits are at risk when the economy slows down.