response. is this a sign that more stimulus is priced in? take a look. we'll talk about this here as we go into this segment. here is the response. you see at 2:00 the markets started moving higher. we were down about 50u6 plus points and now in decline of 19. this after it looks like the fed is in kleined toward more quantitative easing. not much of a response there, or is it? the nasdaq back in positive territory, and the s&p is now positive as well for the first time today with a gain of 2 points at 1415. with many translating the fed minutes saying fairly clearly that more stimulus is more likely than not, and soaper rather than later, the market not exactly getting a huge bounce. >> it is coming off of the lows, let's get a reaction in the closing bell exchance. we have steve leisman and rick santelli. and liz, do you think we will see it? >> we have had the law of diminishing returns. if you use the stock market as a approximaty for if it's working, the impact is large. it was less when we got the announcement of operation twist. i think we're getting used to the notion that the fed will be there. >> steve, we know that they hold the majority on the federal reserve board right now, but what do you make of the minutes from the last meeting three weeks ago. . >> i think they raid a lot of questions. what i see first is that extending the guidance is 80 or 95% probably in september. that looks like they're on track to extend guidance in 2015. i think i disagree a bit, and they gave us a bar or litmus test. they have to show that it's sustainable and better than it has been. the only question i have, why i don't give it the 80% that bill does. is that it's fairly soon. it could be september or later. >> when have they ever been precise on timing anyway? >> they were precise about making a decision on extending the iens in september. so i just make those two distinctions between those policies, qe 3 is coming now unless there is a big, big change in the data or the forecast. >> this federal reserve has never been as precise as they have have been recently. rick. let's get your take on the minutes. >> interest rates had such a small reaction. i'm convinced on how they move that the safe harbor trade is what moved interest rates higher, and that's just run it's course while august comes closer and clubhouser to the end, the dollar index held on to a lot of losses, and the stock market is down. but still down. the real question is it's almost impossible now to look at the equity markets or the foreign exchange markets and draw conclusions because i think we're so far down the rabbit hole, we can't tell a real rally from a faux rally on liquidity. >> liz, i know you're not a fan at this point, the markets with so enthusiastic the first two times out, and the third time might not have an impact. >> and i think the market is reflecting the possibility that the economy may be about to operate through it's own engines. we have to remember that the minutes were from a meeting before the recent batch of better economic news. that could have an affect of half a percent on gdp. >> liz ann, that's what is interesting. all of that data, you just said it, gives us another half a points on gdp, and when i hear the fed talk, i hear them say unless we're going ahead. we're not getting the green light. >> what are you telling clients? >> you've had diminishing returns. i think there are a lot of coiled springs in the economy. and the absence of any forward movement for hiring capital investment is more uncertainty between now and the election and the fiscal cliff. as we talked about, i think that's a bigger issue hindering businesses. i don't think the problem making our economy is that interest rates are too high. i would like to see whether at least past the election we can start to move without the drug that has been -- >> where do you put money to work? >> we have a bit of a barbell approach. >> in equities? >> we have outwmplperformed ratings -- we had under performed believing we would see this pull back in commodity prices. we recently put a note out that you could get fierce rallies. a lot of the derisking as occurred, and i think you could see fierce rallies. >> just not today. we're not getting a fierce rally. >> we got a little lift, but it was a strong move already. >> some people say it's overought. today is 125 and tomorrow it could be 115. if the ecb gets down with the fed when it comes to interest rates. >> that would be nice. thank you, guys. >> thank you. >> and from leader to laggard, the telecom sector continues. bertha coombs has that story. >> with that move up in the market we have six of the ten. the safe haven plays earlier this summer continue to be the laggard today. telecoms seven out of eight days, and they're higher today. utilities are down seven of eight. telecoms down now for their longest losing streak in over a year, and the wireless carriers are under pressure after t-mobile introduced a unlimited data service. and you see they're both suffering. the housing sector is adding. existing home sales came up short, but the home builders index today is at a four-year high after toll brothers reported the highest sales since the recession. toll brothers at a new high today. health care today in reits, acquiring sunrise senior living for a 60% premium. they're making a bet that seniors will ultimately want to move into assisted living facilities, you see they're up. let's go now to courtney reagan. >> thank you, take a look at shares of green dot. a smaller market cap company. $377 million in market cap, but shares are trading higher because it struck a deal with sally mae. they make prepaid debit cards so schools can give financial aid refunds easier. >> thank you. we have about 15 minutes left in today's trading session. a market off of the lows. down about 14 points. >> yeah, and do not go away, we have a very big show ahead on "closing bell." coming up. -- journalist may try to end iran's nuclear ambitions as early as october. and chinese millionaires are flocking to the u.s. and computing profits, instant reaction and analysis of hp's earnings as soon as the company reports. one is for a clean, wedomestic energy future that puts us in control. our abundant natural gas is already saving us money, producing cleaner electricity, putting us to work here in america and supporting wind and solar. though all energy development comes with some risk, we're committed to safely and responsibly producing natural gas. it's not a dream. america's natural gas... putting us in control of our energy future, now. 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[ yawning sound ] welcome back, oil prices staging a come back today after a higher than expected decline in supplies. jackie de angeles has that story now. >> inventories fell 4.1 million barrels. analyst were expecting a drop of more than 400,000. on the floor they were expecting a build of 1.2 million. the eia report was in line saying there was a six million barrel slide. traders were expecting a rally on this. we saw it pair some of the gains and turn positive, and where we really saw some stick is where the fed minutes came out awhile ago. i want to point out that wti now above the moving average for the first time today. >> investors may want to prepare for even higher oil prices if our next guest is right. we have a defense reporter for channel ten in israel and he reported that benjamin netanyahu is determined to attack iran before our presidential elections. ilan, you first, why are you so convinced an attack will happen? >> i didn't say that, i said the prime minister seems very determined to lane much a strike between now and october. the time to act is now. he believes if he waits and passes the november elections, no one, including the u.s. will do anything in order to stop iran and the next time it will have the operational conditions to launch a strike against riir in the coming spring will be too late. he still needs to pass some very significant obstacles. >> so you don't think the u.s. would support such a move after the election? and he doesn't think so? benjamin netanyahu, that's what you're saying? >> yeah, any promise made by barack obama will not be fulfilled after. clearly there is a distrust between those two gentleman, and he believes the u.s. will be forced to stand by israel only before the election. that is why he and defense minister are advocating for an attack now. and the whole military believe otherwise. we should not rush into a strike. >> ali, i can't imagine this is sitting well with allied forces right now. what responses have you heard and what do you make of the idea that they would not support israel after the elections. >> they are saying they're trying to buy as much time as they could until the elections and possibly make a deal with obama in his last term. also, iranians think they can't take it out unilaterally. i was speaking to one iranian analyst saying that americans voted for obama to stop two wars, not start a third one. this is just rhetoric to maintain pressure on iran, but there has been hair raising preparations taking. so there is still a lot to play for, and that time between now and november is still a very tentative time. the oo iranians don't seem to be taking it that seriously. >> and we watch the markets for anticipation of anything like that, and while oil prices have been drifting higher, they don't look like they anticipate there would be an impending attack by israel on iran. what do you make of that? >> i see the consequences of the fear from an imminent attack on the economy. you see foreign invest wants fleeing the country and the rate of unemployment is going up. there is very little optimism, it's hard to find investors when the leader of the country is promising we'll be in war in the a few months. i have to say i think it's still hard for him to transform his determination into actual action when the president is against it, the chief of staff is against it, and the united states is against it. so between his determination, and i have to say, my impression is that he is not expecting anything from president obama between now and the elections, he is not even planning to meet with him in the u.n. asassembly. so he is not expecting anything from the u.s. can he translate this into action and that still needs to be proven. >> indeed, thank you both for a provocative conversation there. >> what a story. >> and that would have implications on the election here as well. >> absolutely, but again i point to the oil markets and they don't seem to be acting like they're anticipating any time soon here. the markets still drifting here. >> jim cramer fed up with facebook. >> who is zuckerberg? i don't know him. where is he? the cfo, he was great and worked well with morgan stanley on the price. where is this company? >> retail investors taking a 50% haircut since the ipo, who is to blame for overvaluing the stock. we'll get into that and more coming up. >> plut, almost as bad as facebook, hewlett-packard lost a quarter of their value this year alone. we'll look at the talking numbers trade next. l 1%, there's big news. presenting androgel 1.62%. both are used to treat men with low testosterone. androgel 1.62% is from the makers of the number one prescribed testosterone replacement therapy. it raises your testosterone levels, and... is concentrated, so you could use less gel. and with androgel 1.62%, you can save on your monthly prescription. [ male announcer ] dosing and application sites between these products differ. women and children should avoid contact with application sites. discontinue androgel and call your doctor if you see unexpected signs of early puberty in a child, or, signs in a woman which may include changes in body hair or a large increase in acne, possibly due to accidental exposure. men with breast cancer or who have or might have prostate cancer, and women who are, or may become pregnant or are breast feeding should not use androgel. serious side effects include worsening of an enlarged prostate, possible increased risk of prostate cancer, lower sperm count, swelling of ankles, feet, or body, enlarged or painful breasts, problems breathing during sleep, and blood clots in the legs. tell your doctor about your medical conditions and medications, especially insulin, corticosteroids, or medicines to decrease blood clotting. talk to your doctor today about androgel 1.62% so you can use less gel. log on now to androgeloffer.com and you could pay as little as ten dollars a month for androgel 1.62%. what are you waiting for? this is big news. looking for a better place to put your cash? here's one you may not have thought of -- fidelity. now you don't have to go to a bank to get the things you want from a bank, like no-fee atms, all over the world. free checkwriting and mobile deposits. now depositing a check is as easy as taking a picture. free online bill payments. a highly acclaimed credit card with 2% cash back into your fidelity account. open a fidelity cash management account today and discover another reason serious investors are choosing fidelity. welcome back, developments on apple, we have courtney reagan with some of that for us. >> hi, bill, apple just pennies off of the session high. it's raising it's price target to 750 from 620. the world's most valuable company going at it again posting new highs, bill. >> yesterday we had a downgrade, today we have a upgrade on apple and it goes higher there. a quick market stat check. at the moment, the major averages getting a boins after the fed released mntss from it's last meeting of three weeks ago offering hope for additional stimulus. the dow down 33 points. and at the low of the day, the dow was down a few more points. in the meantime, consumer discretionaries and materials have been leading the gainers today. industrials the laggards. >> hewlett packard down almost 4% as dell plunges on disappointing numbers last night. with hp reporting numbers tonight, will investors get a chance to jump in here. on the fundamental side of the story, crawford delpret, crawford, what do dell's numbers last night tell us about the quarter hp is about to report? >> they're not an exact match up but the pc pressure was significant. they came out today with our numbers for the industry and we cut our growth for the year from 5% to 1%. our expectation is that the people stalling waiting to get to windows eight and the apple factor is putting pressure on pc demand. and that should come through. >> a lot of people talking about that, what is it about this chart right here. >> the burden of proof is on the bulls. the drops in caps are ominous, these are typically bad news reports and it's a well defined strend. it left us right up against trend. more important is not only it's own performance but it's absolute performance. the next chart is very telling. it shows hewlett packard against the other stocks. the thought is that apple is maybe pulling this up, but i adjusted for that. this is an equal weight index. it nets out the apple impact. so it's the bears that just stay the course. not a good situation. >> and regardless of what happens on the numbers tonight, crawford, will hp's decline continue from your standpoint as well. >> i think going forward, you want to look for a bottom here. hewlett-packard is still a company in turmoil. going into the fourth quarter they could start to see a bottom. going forward, you have to see what happens in q 4, and take a wait and see approach here. >> the stocks are up tonight, does that play -- >> that's a difficult to get out, and i just resist the temptation. >> thank you for being on the program pe be sure to keep it here after the bell when we will have analysis and investor reaction to hewlett's latest earningings. >> as we go toward the close. a little over 30 minutes left. financial uncertainty has many millionaires thinking about leaving the country. we're not talking about the united states states. we're talking about whooi in a, chinese millionaires leaving. what does that say about the economy and what would it mean to the u.s. if those millionaires continue to stream over here. we'll look at that. plus, you think the economy is bad now. wait until next year. why a major government money office is warning of a big-backed recession next year. tdd#: 1-800-345-2550 when i'm trading, i'm totally focused. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and the streetsmart edge trading platform from charles schwab... tdd#: 1-800-345-2550 gives me tools that help me find opportunities more easily. tdd#: 1-800-345-2550 i can even access it from the cloud and trade on any computer. tdd#: 1-800-345-2550 and with schwab mobile, tdd#: 1-800-345-2550 i can focus on trading anyplace, anytime... tdd#: 1-800-345-2550 until i choose to focus on something else. tdd#: 1-800-345-2550 trade at charles schwab for $8.95 a trade. tdd#: 1-800-345-2550 open an account and trade up to tdd#: 1-800-345-2550 6 months commission-free online equity trading tdd#: 1-800-345-2550 with a $50,000 deposit. tdd#: 1-800-345-2550 call 1-866-294-5412. to experience the ultimate expression of power... control. [ engine revs ] during the golden opportunity sales event, get great values on some of our newest models. this is the pursuit of perfection. so stocks staging a bit of a come back on hopes of another fed bailout, but the dow still slirting with that losing stream, mary thompson, what's the mood on the floor? >> we were talking about the risk off trade being in focus. once the minutes rerr leased, risk on came back into view. there was a nice rebound the s&p materials sector was one of the weaker sectors. as you see it's rebounded and one of the best performing sectors. there is a big bounce there and providing support to the s&p, and the dow still weak. >> forget about the 1% looking to leave america, it's chinese americans looking to leave. this year more than 3,000 chinese nationals were granted special investor visas. it's only for foreign investors with more than a million dollars to spend on a enterprise. so why are so many people in china looking for the second door? we have peter novaro who has a new book out called "death by china." and also with us is robert frank. give hits, runs, and errors. >> china has more millionaires than ever. it is coupled with economic slow down and political uncertainly. you have the chinese wealthy seeking to put their money and families abroad in schools and real estate. they're driving a lot of the top end real estate in new york, canada, and the west coast. >> isn't the economic landscape in china partly the story. >> yes, you can look at these things as the leading economic indicators. you see very smart people looking at a real estate bubble, and europe and the rust not buying the exports. there's also the leading political indicator. we have these campaigns about taxes the rich. over there, that's on steroids. changing the political climate. they could take their money and wind up in jail. >> go ahead, robert. >> it's jail the rich there. if you're on the chinese rich list, you're three types more likely to be investigated or wind up in jail. so it's really not just economic uncertainly, it's personal security for a lot >> you saw the tycoons in jail in russia now. we go to 49, we have the distribution is even. right now 1% of the population control an amazing amount of wealth and people are really, really mad, particularly in the country tide about that and there's no way to get the peasants to elevate their income. >> what does the exporting do to the chinese economy anyway? >> it's slowing down, and what's interesting here, i'm from orange country, california. we're seeing millionaires and boat loads of cash coming in, they're buying 40 or 50 houses at a time. that's good, but that's 50 houses off the market for american homeowners, and it's part of this idea that now we owe 3 trillion in this country, and we look at this as a big picture and there are good things but we have to look at our own balance sheet. >> i want to look at our own balance sheet, but also the idea of rich people getting jailed. ever since we read that story about the wife who killed the british businessman. in russia we hear about them going to jail, but in china you don't hear about them. >> you go back to the original resolution and it was the academics and the wealthy put on the camps. and china is a very elaborate system there who have a few criminals. these people are coming here and they do not want to send those kids to colleges in china. they're comes to places like uc irvine. what does that say about the two competing systems. >> fascinating. >> it continues to evolve. good luck on your new documentary. >> out friday, we look forward to that. we have a market off of the lows but still down 30 points here. >> signs of another fed bailout get not get wall street rocking today. are we heading for a fall this autumn? >> after the bell, president obama has been bashing private equity firms, so why did they lobby a private equity firm to help him. first, before we go to break, the dividend, which company stock with earnings out tomorrow morning has climbed the most this year? big lots, diageo, or hormel foods? mamama [ male announcer ] how do you trade? with scottrader streaming quotes, any way you want. fully customize it for your trading process -- from thought to trade, on every screen. and all in real time. which makes it just like having your own trading floor, right at your fingertips. 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[ all ] i'm with scottrade. you know, ronny...n more investors are saying... folks who save hundreds of dollars by switching to geico sure are happy. and how happy are they jimmy? i'd say happier than a bodybuilder directing traffic. he does look happy. get happy. get geico. fifteen minutes could save you fifteen percent or more on car insurance. just before the break we asked which company's stock with earnings out tomorrow morning has climbed the most this year? now the payoff. diageo, which is up about 20% year to date. welcome back, here is something we have not been able to say much lately, it's a good day if you're a zynga investor. julia boorstin has the story. >> their shares up are nearly 10% earlier today, now it's up about 8%. a $4.50 price target. mark harding writes that despite disappointing gains, he thinks it will continue trading better in the second half of the year. they're still down about 65% year to date. >> julia, thank you very much. let's look at the markets now, more room to run for stocks? sure say one of our new stocks? sure says stephanie links. we have stephanie and doug coate here with us, what did you take out of the minutes today? >> well, it seems like we're going to, but i don't think we should. the latest statistics are all good. retail sales, housing, corporate profits, and i think this next meeting, qe three may be off the table. >> if that's the case, stephanie, this is hardly a resounding response. >> i like the market right now. i think we have a backstop no matter what. i don't think data has been good. so maybe we just need an extension of twist or that kind of thing. should data get worse, and clearly they're worried about the jobs, that was obvious, right? so i think at this point, we had a backstop, and we had decent earnings, the ecb likely to ease. so we're up 10% since the lows of june. we could see some value political ti. >> how do you do that? >> we've been looking at themes we've been buying, housing is one. the housing market is very strong. and they said florida has seen the best results they had seen in six years. some of the consumer stocks like a coach, we like nike, still like the industrials and i think they are under owns. >> where are you putting money? >> if you look at the last five weeks we have be in a bull market since march of '09, and even this year it's not commonly understand that not one asset class is negative for the year. it's been impossible not to make money. i'm addizivising to debt in a diversified way. we don't think it's over. >> even with all of ease uncertainties out there. you're not expecting a pull back? >> no. because what i think is this market is mispriced. right now we're assessing global risk up here. when it comes down, the market will have legs from the reduction in global risk. it's overpriced in the market. >> that's what you say we have been under valued because of this reverse premium. >> that's right, the u.s. is not going back into a recession which is what we were concerned about. >> no, based on data, the retail sales, the pmi reports. >> even their ceo comes out today with reports about going over the fiscal cliff and seeing a recession in 2013. >> and i think the fed will be quick to react. some people are concerned about the pandemonium. that causes uncertainty and causes the consumer to pause and business investment to pause. i think the fed will be quick to act and respond. stocks are trading about 13 times toward estimates. we have very low interest rates, earnings are okay. margins have been very impressive, i think 13 times forward is not extreme. >> inflation, at what point do we start to talk about that? oils -- >> remember the drought implications as well. >> food costs are going up. >> with all of the slack in the economy -- we agree that inflation will not be a problem for the next few years. politicians are not in charge of the fiscal cliff, markets are. they will punish politicians. >> and labor costs pressures are very tame at this point. and that's a big part of the component. >> much to the delight of traders. >> yes. we have about 15 minutes to go to the trading day. >> congress is still on their five week vacation, but they getter get their act together soon. we have details on this dire warning just ahead. and all eyes on hp tonight with their earnings coming ut. lcome o learning spanish in the car. you've got to be kidding me. this is good. vamanos. vamanos. vamanos. gracias. gracias. gracias. ♪ trece horas en el carro sin parar y no traes musica. mira entra y comprame unas papitas. [ male announcer ] get up to 795 miles per tank in the 2013 passat tdi clean diesel. that's the power of german engineering. see your local dealer for special lease and finance rates during the autobahn for all event. welcome back, as if a huge tax cut expiration was not enough, congress has more incentive to fix the fiscal cliff problem now. >> hi, the cbo report that's out today has some good news believe it or not that the nation's deficit will only be $1.1 trillion for fiscal year 2012. that's gown from an earlier estimate of $1.2 trillion. the same report looks at what happens after we hit the fiscal cliff in early 2013 and those numbers are grim. take a look at the downside here. gdp is saying we'll contract by 0.5%. that will produce a recession similar to the one that we had in the early 1990s, and they say unemployment would rise to 9.1% by the fourth quarter of 2013. that is a disastrous economic forecast. there is a upside here if you're a deficit hawk, and that is that it goes down dramatically as taxes come in, spinning declines, and spending would shrink. and unemployment would rise to 9.1% by q 4 of 2014. bottom line this is the fourth straight year of deficits with over $1 trillion. >> amazing that we're spending $1 trillion more than we're taking in every year. here we are in the middle of a presidential election. the president is saying we don't want to cut anything, can we really not cut anything? >> of course, not, we have had this conversation. they will aleave wait some of the issues that the cbo brings up. i think they will go into the recession in 2013, and i think they will find ways to fix the fiscal cliff -- you're not going to please everybody on an issue that is so dire and important for the economy. but i think they will find a way to solve the crisis and alleviate and revert. >> and you think this happens right after the election? >> i guarantee. i think they're working on whatever it's going to be right now just in case. how can they not? >> amazing. here we are with a market that has not been focused enough on it. the market discuss is focused on the central bank. down about 27 on the dow industria industrials. >> coming back with a recap of the day on the cloz books count down. why are americans throwing billions of dollars worth of good food in the garbage even as prices sore. we throw nearly half of our customers food away. stay with us after this. there's big news. presenting androgel 1.62%. both are used to treat men with low testosterone. androgel 1.62% is from the makers of the number one prescribed testosterone replacement therapy. it raises your testosterone levels, and... is concentrated, so you could use less gel. and with androgel 1.62%, you can save on your monthly prescription. [ male announcer ] dosing and application sites between these products differ. women and children should avoid contact with application sites. discontinue androgel and call your doctor if you see unexpected signs of early puberty in a child, or, signs in a woman which may include changes in body hair or a large increase in acne, possibly due to accidental exposure. men with breast cancer or who have or might have prostate cancer, and women who are, or may become pregnant or are breast feeding should not use androgel. serious side effects include worsening of an enlarged prostate, possible increased risk of prostate cancer, lower sperm count, swelling of ankles, feet, or body, enlarged or painful breasts, problems breathing during sleep, and blood clots in the legs. tell your doctor about your medical conditions and medications, especially insulin, corticosteroids, or medicines to decrease blood clotting. talk to your doctor today about androgel 1.62% so you can use less gel. log on now to androgeloffer.com and you could pay as little as ten dollars a month for androgel 1.62%. what are you waiting for? this is big news. take the privileged investing tools of wall street and make them simple, intuitive, and available to all. distill all that data. make information instinctual, visual. introducing trade architect, td ameritrade's empowering web-based trading platform. take control of your portfolio today. trade commission-free for 60 days, and we'll throw in up to $600 when you open an account. coming up as we head toward the close here, a visual test for you now maria. can you tell when the fed minutes came out today? that would be the dollar index. >> was it 2:15, bill? about 2:10. >> i think the anticipation of lower rates putting the dollar lower. let's look at the ten year yield. not as big of a move, but we have been coming lower anyway this week. now we're back to 1.7%. they tremendous volatility for that. and here is the dow. it moved higher. we had a little move there, a stutter step, higher, and now we're driving along there. >> how why not a bigger response if we're anticipating kwaun d quantitative easing. >> i think with the fed actually coming out and saying something specific, and saying probably by september there will be a policy in place, i was expecting a bigger move. >> are we not seeing the anticipate? the end of summer? why are we not seeing a bigger reaction? >> every reaction we see is very muted. the market is just a lot of people sitting on their hands with cash, not deciding what to do, and no one wants to go in and take a stand. >> is it easy to trade a market this thin or not? >> we can make money in now volume. >> you certainly can, but does it call into question the trends that we see. people are saying we can't just this market because volume -- is all of that lower? >> the bigger issue is that it's more institutions and hedge funds straiting verses retail. you don't have the retail investor at the market at this point. should we get the confidence back, you would have better volumes and the way it stops trade would be different. in terms of making money or not, you have to pick stocks, right? >> i can't imagine it's going to be good. 30% is pcs, it's a restructuring story. i feel like the head winds are very real. >> and i know you will have those numbers after the closing bell and analysis like nowhere else. >> yes, last night we had dell, and a big drop off. i'll see you at the other side of this break, good to see you both. >> now, some other numbers we watch today. the price of oil continues higher after that supply short fall was itemized. and we said this before, it appears as though the price of oil is sniffing out $100 a barrel. gold at a four month high especially after the fed numbers. here is the price of oil right now, and there is the fed minutes when they came out. watch gold and what it did today. that's a four month high now for the price of gold after it broke above $1630 the other day and has not looked back. as for sectors, the pest perfbe performers are the technology. do you like any inflationary sectors right now? >> it's basically more the china trade. if they ease, it be l be good for energy prices. these companies make money if they stay above $75 a barrel anyway. we have been adding to some of the stocks. ally was down over 1% today and rallied at the end of the day, cheap and low expectations. >> oil has been a leader of this market and it's still going higher, our market is stumbling here, is that significant? >> i think -