Operation twist, where we just had a liquidity dynamics last time i was on we talked about Earnings Growth bottoming and reaccelerating of course the rate of change is what boosts the multiple so were this one of those periods where it should extend not just through end of the year, but into the beginning of next year as well. So if you think about when those rallies stalled out after qe2, that was the point where everyone realized all that liquidity didnt really boost earnings all that much and by then stock prices were ahead of fundamentals but between now and then, i think that the path of least resistance is still higher lets take a quick look at treasury yields. The fed operations is a large part of why. The ten year is yielding 1. 73 and meanwhile Chinese State media, remember on sunday the pro democracy candidate scoring a landslide victory winning almost 90 of the district down can still seats. And now beijing is calling the election a setback for hong kongs Democratic Developm