Frankly, earnings season has been good maybe better than in the last couple of years, so to blame it on earnings is looking for a scapegoat. I think most, if not all this move to the downside, has to do with the rhetoric were hearing and pete and dan can speak to this a lot better than i can when you see the vix up 44 and for the first time in a long time, not giving any back during the day, that leads me to believe that people are more concerned about geo Political Risk they are about earnings risk so, you have a vix up 44 and it hasnt happened a lot the fact that the s p was only down 1. 5 was a little curious it also speaks to what you just said the way lot of funds have been b trading volatility. Helping fund other bets hee, so this is a bit of an unwind and investors caught off guard the s p 500 three days ago was making new all time highs. Its down about 2 from those levels obviously, theres things that guy has been watching. Small caps, russell is down about 5. 5 transports roll