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are afraid of inflation. now the fear is deflation. what the deflation trade? if we go into an era liie that how do we trade stocks and bonds. we ll deal with all the issues on after the bell which starts right now david: let s get to today s action. we have john tooy, usaa head of equity invery muchs. investors he says, don t panic. there is no apocalypse coming. there is still time to buy. david: todd horowitz is in the pits of the cme. we talked about inflation, deflation. a lot of people go to the grocery store. they say what do you mean there is no inflation. i m paying more for beef and more at the gas station but commodities is telling us. certainly gold trade. silver and some of the beans is telling us deflation may be on the horizon, right? it is still a concern. we re still substantially away from it. when the action the way the fed is acting and markets acting it certainly has to be a concern. we re seeing gold, 6%, 7% down. look at crude oil down 3%. loo ....