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And possibly easing sanctions on iran. Josh, kind of a quiet market day here interesting rotations going on what do you make of the action today . This week its just been incredible for anything of value versus growth, anything small over large and theres a tend densy when we see these outside moves. For example, russell up 5. 5 over the last week theres a tendency to look at that and say ive missed it or that has to be the top of something. When you actually go back and find examples of this sort of thing happening in the recent past, actually that always had taken place at notable bottoms in the russell 2000. For example, we had three versions of this in the year 2016 where you have just this incredible week for small cap, for value and it wasnt the end of something or a blip it lully was the end of the selling. You can stay with this trade if youre on and. Portfolio tilt for smallend value. After a really long drought of good news. So a lot of people are happy about that take a look ....
Her Covert Affairs team have no influence or insight into the resourcing over all. I cant comment that we can get back to you. Thank you for your comments, congressman. So thats exactly why we are here. I speak for a section of the pharmaceutical industry that few people actually appreciate, especially given the statistics that i referenced that two out of every three new drugs approved by the fda last year actually originated in companies that are small biopharmaceutical emerging companies. We dont have a voice in washington. Excelixis is not a member of pharma. Where a number of bio. We dont hear the realities, the pains and challenges that are faced to bring an important new drug to market, represent and the debates because i think a lot of people take for granted that its all great Big Companies with huge budgets and throwing a lot of money at problems. You may be an examp ....
And selling today. There are those three stocks, tesla is down again as another firm gets negative on that name, now the worstperforming stock in the s p 500 losing another 5 today and barely hanging onto 160 as you saw, tough day for small caps as the rate is up, the russell is lower, it does take us to our talk, the return of volatility and if investors need to prepare for a pickup, especially with another federal meeting looming, lets ask joe terranova. Hes a cnbc contributor, is that your expectation . Is that what we are trending, its about to get interesting for little bit . I think the market will get very moody and that the day for dangerous place for investors, we have been trading off of a sunny disposition, the personality of the market, now you get into this environment where its about the mood, Everyone Wants to be a monday morning armchair economist which is the most dangerous and worst thing you could be doing right ....