again, we mentioned olson and brian chu, but want to thank our union membership. i see floyd from 78. i see marty from our police officers association. michelle and don from our sheriff's unions. ~ 798. i also want to recognize chief hayes white, and sheriff mirkarimi, thank you all for being here and for showing your support. i want to introduce someone i felt was really important to make sure that we connect how this is going to affect the members of our first responder department on an individual basis. and i want to introduce someone who has been a part of the sheriff's department for ten years here in san francisco formerly a cadet here in city hall, now part of the investigative services unit, has been renting in san mateo, i understand, for the last five years and is looking to purchase a home here in san francisco. and one of those first responders that we are proud to have not only working for us as a city, but someone that we want to encourage to live within our city limits. allow me to introduce to you mercy ambat. (applause) >> first of all, i want to

to the great leadership of our mayor ed lee, his office of housing in particular, olson lee and brian chu who are here with us today and my colleagues on the board of supervisors, together and with the voters of san francisco, we passed proposition c, the housing trust fund initiative, to create and approve affordable housing city-wide and to provide loans to assist with the down payment towards the purchase of homes here in san francisco. the passage of the housing trust fund was and is a huge win for all of san francisco and our residents as one step in the right direction towards continuing to solve our city's ongoing housing needs. we are here today to announce the launch of a renewed down payment assistance program for our first responders here in san francisco. statistics will say that the majority of all of our first responders live outside of our city limits, and i for one believe that our communities and our neighborhoods are strengthened here in san francisco by the men and women who put their lives on the line

chu. >>> let's get news from brian sullivan, regarding the s.e.c. >> yeah, carl, thank you very much.ms with short selling while also participating in the public stock offerings of certain firms. basically, rule m. it's against the law. you can't short sale within a five-day window, and also participating in a public stock offeroring. the s.e.c. announcing enforcement action. however, in the same release, it is also announcing it has settled with 22 of those 23 firms. some of the names out there, d.e. shaw, well-known hedge fund, the teachers plan, also on that list, g-2, private investment firm, the one firm that did not settle, as well, carl. there you go. can't short sell within a window while participating in the stock offering. s.e.c. saying this is part of the continued push to go after firms short selling in restricted windows. >> very interesting. thank you very much, brian sullivan. back at hq. >>> meantime, app sl releasing a reminder that ios7 will be available tomorrow and its new products are set to roll out on friday. the company has still not released any preorder figur

chu, these are some heady stats. are they big red flags on their own, however? >> well, they could be red flags or they could at least be yellow ones, rate, brian? stocks have been in a holding pattern so far. one of the big reasons why has to do with momentum. something bob pisani mentioned earlier. traders are wondering if the rally has gone too far too fast. this is the third time this year that the s&p has hit a near-term peak. the other times back in august and back in may. now, each of those other two times stocks have pulled back. a common element between all of these three occurrences is that the reached a statistical level that indicate a pullback could be coming at some point. it could be do you, in other words. that upside momentum may actually be exhausting right now. now, that momentum has to do with something we are also looking at, which is how many stocks are hitting fresh highs, 52-week ones. we've got 126 of them right now, brian. 52-week highs in the s&p 500. that's a lot of stocks with momentum. some traders, though, look at this as a contrarian indicator. during the market peak in august, we saw 123 new highs before the pull