I think we are likely to remain in a trading range for some time.
I think Greenspan basically said the obvious, that long rates are too low and against his desire for the economy to grow ... His comments indicated that the Fed will remain in a tightening stance and that we should see further raising as the year progresses.
As the major indexes move near four-year highs, there are some risks for stocks. But the economy is growing at a solid pace, as the payrolls number showed, bond yields remain low and there is still excess of capital out there, looking for good returns.
I think now that that is digested, people are looking at some reasonable values; our view is that crude oil prices are going to remain high.