much better. if you think about the last month, 1 1/2 months, think about bitcoin. think about the craziness we saw there. there was this period where investors were chasing momentum. this is a very big emotional rally. at some point you can t keep going. this kind of correction is really not all that unusual. there s been corrections of 3%, 4% like we saw last week in times in the last number of decades. so all of those corrections neil: you re right about that, the expectation that it doesn t go up forever. normally there s a telegraphing of trouble, this seems to be good news. no, no, not always. interesting. think about 1999. everything was great. think about 2006, 2007. everything was great. bear markets are things that don t necessarily telegraph and sell well.
on earlier, your warm-up act, and he was saying i m buying citigroup and bank of america, they have been beaten down enough they have to be great guys. guest: i think it is a huge mistake. the market is, with all due respect to donald trump, the market is a lot smarter than him at this point. and, again, average bear markets go down about 25 percent on the dow, and 35 percent open the nasdaq and i don t think we are there yet and the way this is acting right now, it is vicious, and it reminds me of bad bear market and i hope i m wrong, but, all evidence in now is very worrisome and i think we will see it soon because things are much quicker than they used to be. neil: there is a flip side to the low rate environment, mortgages have never, ever been cheaper but the only problem is they have never been harder to
market, but it will be short term head to head on the libyan front. the stock market just finished its best week of the year. why did stocks end up going up after they d gone down, before seemingly chaotic period of weeks? interesting to put it that way because chaotic was exactly what it was. when you have a stock market that s strong and then corrects on headline, it indicative of a correction, not a bear market. bear markets start out of the blue when everybody thinks p the market is just going to keep going up. we ve digested all the headlines. we have very good economic numbers at home, jobless numbers down, solid numbers housing n and corporate profits have been strong. i want to ask you about the job market at home. a recent survey from an hourly job site, called snagajob.com. i like that. 55% of hiring managers plan to hire workers this season. seasonal workers this season.
people at the steinbeck center for this. and this wonderful steinbeck prize that i ll be receiving. it s a cup of water. but it s cold and there s a mice with a man brain attached to it. that s a bad pun. we are living in a modern day grapes of wrath. sadly for so many of the people watching this who don t know if they re going to have a job next month or pay the mortgage this week. for the democrats to not understand who they re supposed to be fighting for. even if you lose the fight, the theater might get you re-elected. so what if you lose the fight, you fought for what was right. did you hear that? harry reid, are you listening? congratulations on the john steinbeck award and congratulations for coming in and not destroying the show. thank you very much. appreciate it. ever heard the story of goldie line and the three bear markets? congressman anthony wiener in his congressional hearings.