street. this is the first time in history that we've seen the dow close with a net change of 400 points or more for a few days. you can see the volatility on the screen there. taking a step back, what stands out most to you about this week? >> reporter: how many were participating in it, jenna. volume, which is an indication of how many people are buying and selling shares will almost assuredly hit a record or close to a record that goes back to the october 2008 meltdown. that shows you the volatility and just the skittishness that was here and everywhere. this is a global phenomenon. what was going on here was going on everywhere, particularly in the european markets. they were far more volatile than our markets if you can believe it. all on growing concern that despite the gains we saw yesterday and today hope they continue, knock on wood, there is a real concern we are not out of the wao*dz. we cling on good information that shows that not all the news is bad, retail sales up, what have you. in the middle of that then we get some consumer sentiment numbers, how folks are feeling in this country. that's tumbled, so that's kept the gains so far to a minimum. i think what will decide trading at least today, jenna is a lot of issues have just really got even into bargain basement territory. many cut 30% or more, some cut in happen. we notice unusual buying activity in cisco, june a per networks, at&t, wal-mart. big names, people kind of fish around and say all right, we think that is over done. we'll see if it continues. jenna: i would like to talk to you about volume. you mentioned how many people are participating in the market. we've heard a lot of talk about electronic trading, and when the market hits certain levels and a certain funds sell off. how much do you think computers have been in the volatility we've seen in the last few days. >> reporter: i think a lot. when i was a kid they did it with an abacus. i think it does heighten the volatility and put it on steroids. the normal swings are punctuated annex average rated, not necessarily for the whole day but within the minute, that's why you see these huge multihundred point swings, sometimes within just a couple of minutes. they've tried to contain that, particularly in europe when it comes to banking shares, financial shares, that you can't sell short, in other words, bet against banking stocks just to contain what they felt was mindless carnage. i don't know if that is a good idea because you can't cut a natural capitalist trend to sell. you might slow it down but you can't sell it. they were going after the big computer program trades that sell in bulk and mass within seconds. it did the trick this morning in some of the capitols. in france and italy and spain where the program curbs were put into effect on the sell side. those stocks all moved up, the banking stocks all moved up, all the markets moved up. i do think that is a band-aid on what could be a gaping wound there. i don't know how long it lasts. again, let's just look at today and it was received favorably today. jenna: when you were a kid did people talk about being on the brink of the abyss? >> reporter: i didn't know what abyss meant when i was a kid. i thought it was like a soup. it is, we are still in the soup. that's what we're after again. jenna: we're looking forward to the special. i know you'll be live tomorrow. 10:00am eastern time, on the brink answers from the abyss, that sounds better than being on the abyss. thank you very much, we'll see you, thanks. jon: he has a couch here, he sleeps here all the time. fireworks in iowa. republican presidential contenders are fighting hard to score points ahead of this weekend's straw poll and they used last night's debate to take aim at barack obama and each other, in particular the two candidates from minnesota. but the eight candidates on stage last night are bracing now nor another gop star to might try to swoop in and steal the spotlight. steve brown live in ames, iowa for us, steve. >> reporter: yes the two minneapolis st. paul newspapers describe the interactions between the minnesota presidential candidates this way. one described it as duking it out. another described it as long knives out. a verbal fistfight or knife fight it was certainly bachman versus pawlenty center stage. >> she says she fought for less government spending, we got a lot more. she led the effort against obamacare. we got obamacare. she led the effort against tarp, we got tarp. she says she has a titanium spine, we are not worried about her spine. if that's your few of effective results, please stop, because you're killing us. >> when you were governor in minnesota you implemented cap and trade in our state and praised the unconstitutional mandate and called for requiring all people in our state to purchase health insurance the government would mandate. third you said the era of small government was over. that sounds a lot more like barack obama, if you ask me. >> reporter: not surprisingly the propawlenty supporters thought he did great, the probachmann supporters thought she did great. if there was any surprise newt gingrich, a lot of conservative bloggers liked how he stood up and got his back up last night. criticizing the super tkpheut tee is nuts. one that will be cutting down government spending as a part of that debt ceiling deal. all in all it sets the stage very nicely for what comes up tomorrow. that will be the iowa straw poll. this is an actual measurable contest between candidates. now, no 4, mitt romney is not actively participating. no, rick perry soon to get in the race will not be actively participating. amongst the rest this will be a very important battle set up right here and we'll be bringing it to you tomorrow. john. jon: steve thank you. who came out on top in this big debate last night? that's the topic of today's power play. chris stirewalt fox news digital fox news editor and the host on foxnews.com live. are you picking a winner, chris? >> reporter: the winner of course is people who love america if you're at the iowa state fair today, because they love america and it is awesome out here, jon. the winner of the actual debate last night just in terms of how you score the round, maybe it's bachmann, maybe it's pawlenty, maybe it's gingrich, but the winner of the debate overall in terms of how it changes the election and what it effect has going forward is pretty obviously mitt romney. he looked good, he stayed cool. he put jabs back when people came after him without seeming to get down in the mud. it was a technical and tactical win for mitt romney. a good rer form answer and just what we needed. jon: our presented today sesers were opening up the question to viewers. it is an unscientific poll obviously, but 50% of their people who responded say newt gingrich won. >> reporter: well, look he gave, in terms of what we've seen from speaker gingrich he delivered what people have been expecting from i'm all along, a tart tongue, a focus on policy, a brashness, a confrontationalness that he's none for that we haven't seen from him because his campaign has been so beleaguered by the problems on the trail and with his organization. people got to see a glimpse of the real newt last night. they loved it. i will stand up for chris wallace right now and say that was a totally legit question. what he was talking about was basically this. if you can't run your campaign, if you're having trouble running your campaign how do you run the executive branch of the federal government? it was fair and eupl bounds. but everybody likes it when you work the efs in a boxing match and that's what he did with chris and it was effective. jon: for mitt romney it was an important performance. he has not worked real hard in iowa, as i understand it. i haven't been there myself. he hasn't worked real hard in iowa but he did well enough in the debate, do you think? >> reporter: i think he did well enough. i think what he has done, and this is so information, is get moderate republicans to coul republicans to stick with him. rick pe perry is going to try to unite the right and take people away from tim pawlenty and michelle bachmann. they'll say he's the guy that can do it and he has the cool under fire and toughness that he needs to get through an arduous nomination process and confront barack obama. when he said he wasn't eating barack obama's dog food you could feel it in the crowd, mitt was here to play. jon: we'll be talking to ron paul a little bit later in the show. thank you very much, chris stirewalt. >> reporter: you bet yeah. jenna: a little bit more coverage by the way on what happened in iowa. chris has his online show live on foxnews.com. he's going to be talking to a couple of the key players, so you can tune in to live.fox news.com for that. looks like kids were having fun at the fair a as well. jon: always a good time at the fair. a little funnel cake. jenna: they tern lee meant no harm. that's what they say. one of three sibling fugitives, also saying she should have been shot. an update on the dangerous trio now behind bars, truly one of the most bizarre stories of the week. with wall street roller coaster happening keeping everyone guessing what should you do with your money as you're going into this weekend, any tips you should know about? we have that just ahead. later in the show as jon just mentioned, congressman ron paul. harris we always know when congressman paul comes on a lot of people have a lot of questions. >> reporter: they do, we want to take everybody to foxnews.com's home page. it just popped up in red letters, jon and jen, our live chat, town hall america's asking, just beneath the big picture our top story about the debate. you click on that it takes you to "happening now" home page. and a comment from gary, how quickly would you pull our troops out from around the world and how much money would you save by doing this. your questions for our guest ron paul. we are putting them in que. right now on "happening now." we'll be right back ♪ and so the conversation turned ♪ ♪ until the sun went down ♪ jenna: right now new information on crime stories we're keeping an eye on for you this friday. a woman caught with her brothers after a nationwide manhunt. telling colorado authorities she deserved to get shot. court documents say lee grace doughtery made that statement after she was shot in the leg by a police chief. despite her saying that she meant no one any harm the chief says she pointed a gun at him during this pursuit. the three siblings made their first court appearance yesterday by video from jail. in the meantime the f.b.i. releasing new information on a bomb scare in oklahoma. we told you about this yesterday. the agency may be close to an arrest now after a possible pipe bomb was found wed in the eastern part of the state. they say it was attached to a gas line with a timer, a mystery there. a man convicted of killing eleven women and dumping their their remains around his home will get the death penalty. that was the recommendation from jurors who convicted anthony sowell. the judge had the option to reduce the sentence to life without parole but decided against it. jon: congressman ron paul is coming up live later in the show and asks for your comments. harris is at the wall with what some of you had to say. all sorts of questions any time that congressman paul gets on. harris. >> reporter: a couple of our viewers are wanting to know specifically about our role in the wars. he talked about that in the debate. one viewers writes. what would you do if you ended the wars worldwide? would you bring those troops home to unemployment. very specific questions about that. another viewer is expressing concern about how much money you'd save and how would you do it without spending money to end the wars and where would you put the cash, so on and so forth. that that really is a theme, jon of people on the live chat. a lot of them are saying they didn't hear enough talk for their flavor about the war and ron paul had the only real angle on this in the debate last night. go to america's asking and we will include your voice in all of these. ron paul coming up in a little while. some of you are getting very detailed and very focused on your questions. jon: harris faulkner thank you. jenna: the economy was the major theme of the debate last night and certainly this week proved the point that it's still very much in the forefront of our minds. a wild ride on wall street triggering major whiplash for all of us, stocks moving up or down by hundreds of points each day. we have the founder of imperial wealth management. kimberly, let me share a story with you that i think many americans probably experienced this week. one of my friends said to me, i just checked my 401k, i lost thousands of dollars and i said, don't check your 401k, what do you doing check being it during such a volatile week? i thought about it, maybe i gave her bad advice. should we be checking our 401k, our allocations, is this a good time to do it. >> it's such a volatile market. professionals don't even know which way to go. everybody was taken off guard. you've got to be in the game in order to win the game. i tell my clients this week, basically allocation is the first and foremost important attribute of your portfolio, houp to stocks and how much to bonds. 90% of the variability or noise going up and down tells you the performance in the long term. how much do you want to stocks, how much to bonds. you might have 30% to bonds or 70% some stocks. if you're older you may have like only maybe 20% to the stock market. jenna: age is something important when you're thinking about financial planning. >> it is. jenna: the volatility is something that regardless of your age is tough to watch. how long do you expect -- how long do you expect this to last. do you think it will repeat next week? >> i think that volatility is the new normal. i hate to say it. you better get used to this. this is going to be the new normal. we don't have a lot of certainty in regard to what is going on on a geo political front or the united states front, and we have the super committee of 12 now, they are going to try and solve this budget issue, so we've got a lot of uncertainty, and of course the market doesn't like uncertainty. if you have a hundred thousand dollars in your portfolio and you're up 50% one year and down 50% the next year your rate of return goes from a hundred thousand to 75. if you're only up say 10% one year and 10% down the next year you're at $99,000. that volatility tells you what your rate of return is going to be for the long term. that is really important to be able to be able to have the allocation to go through these ups and downs in the market. jenna: it would be nice to have a million dollars in any t fund. there is one question we should be asking, whether it's ourselves if we're in control of our own retirement or a savings fund or a question we should mow tension alley be asking a financial planner. what is the one thing you see people missing when you talk to them about how they are planning their own finances? >> i think people are scared. and if you're scared have the allocation. if you can't say emotionally in the market have an investment adviser. ask them basically what is the allocation of my portfolio, and if it's too volatile pare that down a bit for the long term. the bottom line is you have to be in the market to win the game, and in the long run we're going to get through this, jenna, we are. we are all going to get through this. it's going to be tough. that's why we get the great rewards in the long run. keep your eye on the prize, it's the long term return. over the next two years it might be tough, but we will gain the reward. jenna: always nice to have you, thank you for coming on again. jon: optimism is good. and elite u.s. skier in trouble with the law after some very bad behavior on an airplane flight. the fallout today, plus a brand-new study offers promising leads in cancer treatment. we told you about it yesterday, and coming up we'll talk with the woman behind a project that seems to be paving the way for a major breakthrough in the cancer fight. 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"who let the baby into the bar?" and so on. can your anti-aging makeup do that? ♪ simply ageless from olay and easy, breezy beautiful, covergirl. jenna: right now anee limb make hopeful in big trouble. and he got into it on a cross country jetblue flight. sometimes, harris, you know you wonder how you're going to actually tell this story. there are no words, really, right. >> reporter: no, the only thing that comes to mind is when you've got to go you've got to go. no criminal charges against this guy, but he's in a host of trouble with the u.s. olympic ski committee, because listen to what happened with robert veits. he's 18 years old. he's among 75 elite skiers in the nation. his name at least information now as been bumped from the team's developmental roster after thins dent at jfk. we don't know what that means for his standing on the team, but you don't want to be pulled in any regard from anything this close to competition. he had got even back from mount hood in oregon. he was on a flight from portland to jfk. he has admitted to police that he consumed eight alcoholic beverages before boarding that jetblue flight 166. and what happened on that flight is what jenna says there are just no words for. there was an eleven-year-old girl about five rows up from beets the skier. apparently somehow or another he thought he'd reached the bathroom but he hadn't, he reached hero of seats. and the child was sitting there by herself, according to flight attendants and many other witnesses and even the admission of the skier he resraoefd himselrelieved himself on the child. he said he was drunk, he didn't know what he was doing. there won't be any charges against him. right now the u.s. olympic committee is looking at his role on the ski team. the father who was traveling with the child were making their way to go to new york and the dad was suffering after having treatments for cancer. that dad and skier got into it on the plane, everybody is okay. after relieving himself on the $1-year-old he's going to get into some sort of a scuffle with the dad, can you imagine? it's all over now but the team decision. jenna: harris you handled that well by the way. there are no words but what a story . i don't even know what to say. thank you very much. >> reporter: sure. jon: anybody did that to my daughter they would be feeling some pain, that's for sure. there could be one of the biggest advances in cancer research in decades. we told you about this experimental treatment yesterday. it made cancer absolutely disappear in two of the three people treated. but it never would have happened if not for one woman. barbara netter cofounder for the alliance of cancer gene therapy is our guest. tell us how it is that you came to fund the alliance? >> all right. well, my daughter-in-law had breast cancer and she struggled with breast cancer. after that my husband and i founded the alliance for cancer gene therapy. he is now deceased. we met two doctors who practice at mt. sinai hospital and we each went with each of them at another time to a seminar. when we came back we were so excited about the thought of gene therapy as a cure and treatment for cancer that we decided to put our resou