More on this later...

In the past two days, we've had $128 billion in buybacks and buyouts, and the market is down 15 points. This could be the sign of a peak. At the beginning of the year, the bulls were raving about the $2 trillion (with leverage) that private equity was ready to throw into the markets. However, that's only $8 billion per day. At this rate, soon there will be nothing left to prop up the market. Remember, bubbles require more and more assets to sustain growth.