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Lets bring in our guests today, arguing that stocks might not be so close to new highs for very long mike wilson, Morgan Stanley, back with us good to see you. Glad to be back. 10 correction is the most likely outcome why is that . Its a continuation from the call we made in september where we got a 10 correction. We walrallied back all this comes back to our framework. We look at the valuation its pretty full volatility has picked up because of the events they know are out there, whether its the virus, the second wave, or the election the premium we believe is a bit understated from where it should be thats all were saying. Its full here these risks are not going away for the next 30 days theyll be with us so, look, the range we put out in august, 3,100 to 3,550 holds. Were still bullish on the vshaped recovery, the call we made a while ago we think its a new bull market. But its risk reward and the risk reward for the upper end ....