[ indistinct shouting, bell dinging ]. Youll bust your brain box. All onhinkorswim from td ameritrade. Liz large and in charge, the bulls taking the dow to its highest level in more than five years. Breaking 14,000. Can it stay there for the next hour . Leave the shot there for a second, yeah, were just one point below here. Good afternoon everybody. Im liz claman. It is the last hour of trading. Countdown to the closing bell begins right now. Will we see a super close going into Super Bowl Weekend . Look, either way, stocks ending the week with a touchdown. Stunning traders earlier in the session by charging past dow 14,000. The dow less than 200 points away from the all time closing high of 14,164 and for those of you. 53. That level goes back to october 9, 07. Incredibly strong, green arrows practically everywhere except merck and exxonmobile. The drug giant for its part down more than 2 . Quarterly earnings beat street estimates but sales disappointing for investors. That one is in the red. In terms of the dow jones industrials, you have the banks leading the pack. Bank of america, nice move, 3 1 2 . Jpmorgan 1 3 4. You have verizon, at t, microsoft not bad at all. Verizon got an upgrade by piper jaffray, going to outperform from neutral. At t up 2 percentage points. Microsoft is up 1 3 4 . What is fuelling the gains . A whole bunch of things folks. By the way the small cap russell 2,000 at a new high as well. Part of it tactical. Fund managers as we know have to take some of the cash that has come in and they have to put it to work specifically in the market depending on their mandate. That typically happens in the first few days of a brand new month which is what we have. But also helping the bull case, some economic data, Manufacturing Activity picking up last month. The ism Manufacturing Index rose to 53. 1 in january. Up from 50 in december. Remember, any reading above 50 equals expansion. Thats always a good thing. Consumers started also feeling better about a few things. We got the confidence rising last month in the form of university of Michigan Sentiment index. That came in at 73. 8. Economists were looking for a drop, so not only was it an upside surprise, they expected a drop there, didnt get it, not bad. And then guys as we bring in our floor show here, two upward revisions, november and december that came in with the january jobs report, close enough, lets bring in the floor show traders. They are hiding. Here they are on your screen. Keith, will we stay here and will we close above 14,000 and i know it is just a number. Got to always say that; right . A number and an important number. I like you added the 53 cents in on the alltime high. That is important. We are at an incredible point right now. I could make a bull case, a bear case. I know a lot of technicians that say theres no reason we wont get up to 1550, 1560 but by the same token, there are a lot of people looking at the broken down aspects of intermarket relationships. Theres correction in the air. Heres where i am today. We met pretty strong resistance at 1514 on the s p. Im going to reevaluate over the weekend. We have a pretty light Economic Calendar next week. We rallied up here pretty well this week. And remember, were up 12. 8 from the november lows. Might be a good time to take a pause and see where were going to go from here. Liz let me get to kevin. You tell me if this is something where we pass it and then all of a sudden people wake up and say we had a great 2012. We had a fantastic january. At some point there has to be that pause that refreshes some type of correction ive heard everything from 4 to 7 to 10 . Will people wake up and say this is too much too fast . Absolutely. Weve come really far really fast. I think my biggest concern is we move into february and really up through april is the debt ceiling and what congress is going to do about that. And particularly, one number that was interesting this week was personal income and spending. It was a great number, but when you look forward, my concern is the new tax policies that are in place. And that amount of money may not be in consumers pockets going forward. So its been a great rally here in january. But i look for a pullback and i think we could see a 5 pullback when you look at Interest Rates hovering around 200 basis points, cant really pop any higher than that from a yield standpoint. I agree a correction is in the air and it is something we have to take a little pause, see where were at and where we may go going forward. Liz yeah, i mean, we cant ignore the fact i want to check it because it changes moment by moment but the vix just at 13, straddling there . I mean alan you are looking at an energy and commodities picture over there. But when there is very little fear, and rising stocks, rising commodities, and a falling volatility index that just looks i mean were showing intraday here, which is a little useless, you know, weve spread it out and you can see especially if we took a two year or one year, you can see how far weve fallen. Does that become disconcerting or do you still say 100 is the next weigh station like our guest did yesterday . We are in overbought territory for crude oil. However, we get a settlement above 98, i do think we get to 100 to 102 dollar level. What im seeing right now is were starting to get some more rhetoric out of the middle east and some more issues out of the middle east. That might give the boost that the market would need to get it over 98. I do think it is oversupplied. If we dont start to get some of that and dont get settlement above 98, down we go. Liz hes looking at settlement above 98. Were looking at settlement above 14,000 at the moment. Keith, do we close above or at 14,000 today . I think were going to close a little above 14,000. Theres a lot of money chasing these equity returns right now. The fed wanted us to do that. We have seen a last couple of sessions buyers come in at the close, i think we will see that today. I think we close above 14,000. Theres a lot of momentum in the equity market. I think we push above there today off this jobs report. Liz alan, how about you . I do think we close above 14,000. I think we get a little bit higher and then we have a pullback. Liz alan is sitting there wondering why didnt she ask me about heating oil . The distillates. Have a great weekend, good to see you all. Thank you. Liz certain media stocks have been doing beautifully the entire year. Earlier this week and this is what got us thinking about this, Mario Gabelli told us about his best performing fund, the Gabelli Multimedia trust. So we pointed it out. Its up 25 over the past year. So impressive so we said lets bring in the portfolio manager. One of them is joining me now in a fox business exclusive. While everybody is talking about the month of january, you have been doing beautifully for the entire year. Well, actually its been from the bottom of the market, liz. Were up i think about 24 compound from in the last four years, and whats happened is were lucky. Which beats being smart. We invest in great industries, technology is basically causing people to consume more media. The companies are figures out a way to are figuring out a way to collect revenues from this, valuations are reasonable, cash flow is there. Companies have been responsible allocaters of capital, almost a perfect storm on the positive side. Liz what you just articulated to me is extremely important because you said were just buying Good Companies and being lucky is being smart. Its not hard to do. When you look at a company through good times and bad, these companies have done beautifully, but lets pull out some of your best and your favorites and your widely helds here. And among them, some of them to me are very interesting because youve got some gamers in here. And that is a particular play on the asian gaming picture. Is this just a macau story once again . Its asia in general, macau, singapore, vietnam is going to open up, the philippines are going to open up. We think at some point gaming is going to take place in japan. The folks in asia just have an incredible to gaming. The planners in macau got it right and the planners in singapore got it right. They had different ambitions but they have arranged for the intelligent expansion of gaming. It is nonpolluting industry. Its helped the tourism industry. Led to phenomenal increases in employment. The gdp of macau since gaming has been over 12 compound. Liz isnt this an industry that depends very much in part on the high rollers and this would then depend on the economies of some of these emerging markets remaining stable and growing of course . Well, there are two forms. Theres the high rollers and the mass market. And the mass market is pretty high end. You go into these casinos at nighttime, and its very hard to find a table under 25. These people like tables. They dont like to play slots. Liz i have to ask, you go there and you look at each of these and you watch the action there, like the james bond movie . Yeah, i think ive lost my last nine games. Very hard to do that. Liz i wont even play the penny slots, forget it. When you were looking because you have been so cautious and so smart with a little luck thrown in, when youre looking to commit money to a certain stock to put in the fund, what are the things you look for . We look for basically businesses that grow, especially businesses liz thats quite simple actually. Businesses that generate cash. We like the cash to come out sometime or another. A good example of a business we dont like is amazon. Cash never comes out of the bottom of the spigot. If you look at a macau as an example, the government said there are going to be six concessionaries. Thats an absolute barrier to entry. Liz how did you know for example im not just bringing this up, im bringing it up because it is a strong stock, thats news corp. , the parent of our network, along with directv and time warner which owns cnn so were being fair and balanced. How did you know . What you got in both of these companies and for Different Reasons was responsible capital allocation. For time warner, first thing jeff did when we came in was make a bad acquisition, 750 Million Dollars, almost instantaneously down the drain. Since then no bad acquisitions. A lot of share repurchases. Big help from technology and things like hbo go. And the combination slow and steady cash flow growth, tremendous Free Cash Flow generation, purchasing the stock, raising the dividend, just a wonderful recipe if youre the owner of the business. Liz now heres a call youre making. You believe, everybody listening, apple, all you apple lovers and faithful, that the stock price has the potential to double. In what time frame and what would get it there well i think what gets it there is really easy and the time frame is harder because you dont know when it is going to come. But it is basically responsible capital allocation. Theres 137 billion by now a month into the next quarter theres easily 140 billion of cash there. Its the shareholders cash. It is not managements. Its not the boards. One way or another, it has to come back to the shareholders. When that happens and if they start running their business like john malone and most of his Industries Run his business, like time warner did, like news corp. Is running it right now, the stock is going to go from a 5 multiple which is way way low for a company of apples business quality to if you give me a time warner multiple a double in the stock price. Liz that would be 900 at this point, around then. So he believes everybody listen here it could go to 900 if they put that cash to work. What they are forced to quickly through a shareholder lawsuit, where they are saying what are you doing with all this money . You are not acquiring companies . I was just astonished that there was no special dividend in the Fourth Quarter. Got special dividends from wynn and Las Vegas Sands and a lot of other companies and apple was the most logical and we didnt get it. I dont know what the board is thinking. Maybe they will be pressured by someone in court, who knows. Liz or you larry. Good to see you. Thanks a lot. Liz love having you. Larry haverty, portfolio manager. Closing bell ringing in 48 make that 47 minutes. Manitowoc at the heart of the u. S. Made in America Industrial economy making cranes, equipment for restaurants, right now business is looking good. But which part . It may surprise you. Quarterly revenue jumping 10 . Manitowoc ceo, fox business exclusive, telling us whether the economy is gaining ahead of steam, regardless, his company is doing very well. Again a fox business exclusive. Hes only talking to you and us. First though super bowl xlvii, forget the game; right . It is all about the commercials, but no matter who wins, niners or ravens, some Technology Companies will shine. Which ones . Were going to talk about that when the closing bell returns. Twins. I didnt see them coming. I have obligations. Cute obligations, but obligations. I need to rethink the core of my portfolio. What i really need is sleep. Introducing the ishares core, Building Blocks for the heart of your portfolio. Find out why 9 out of 10 large professional investors choose ishares for their etfs. Ishares by blackrock. 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Side effects may include unpleasant taste, headache, dizziness, and morning drowsiness. Ask your doctor if lunesta is right for you. Then find out how to get lunesta for as low as fifteen dollars at lunesta. Com. Theres a land of restful sleep. We can help you go there on the wings ofunesta. A talking car. But ill tell you what impresses me. A talking train. This ge locomotive can tell you exactly where it is, what its carrying, while using less fuel. Delivering whatever the world needs, when it needs it. After all, whats the point of talking if you dont have something important to say . Liz the power mover of the hour is all out of shape today, not a pretty chart for lifetime finance. Fitness. Shares are falling 22 here. What would cause Something Like this today . Well heres what happened, sinking to a new low after preannouncing lackluster Fourth Quarter earnings. The exercise and Recreation Center operator also cut full year outlook, on many levels that this one has had trouble. If you look at the one year chart, you could see it was just starting to make its way up here, to the 52 week high, and then to the far right of the screen, the big plummet today. Horrible. Analysts hated it. Imperial capital slashing lifetimes rating and price target. This is now a 39 stock at the moment. Investors are filling up on tyson food. The stock rising to a new high today, ahead of sundays big game. Lets head over to Nicole Petallides on the floor of the new york stock exchange. Nicole i love how were talking about chicken again; right . Two days in a row. Lets take a look at whats going on with tyson, liz. As we are seeing the stock up over 3 . We can call this a 52 week high, but if you chart it out, it really goes back to the summer of 2007. These are really five year highs here for tyson foods. They came out with their quarterly report. Theres a couple of factors in this. You know, its a sluggish economy, they are not really seeing the demand, their sales volume actually dropped 10 . However, they had to raise their prices on their meat and their beef and their chicken because it costs more to feed the animals because of the drought. They have paid more to feed the animals. They have had to raise the prices. This is how they were able to come out with profit that beat the street and have these margins that helped the stock along today, to move it to the five year highs. Back to you. Liz nicole thank you. One company is hoping that super bowl viewers increase their appetite, for new ways to get in on the action of the game, net app is the official data storage provider of the nfl and is rolling out new feature sunday. Fox businesss Shibani Joshi spoke to the vice chair of net app. Shibani net app is ensuring that all this tremendous amount of data, the feed on your television screen, even the Communications Inside the actual stadium, every single detail actually ends up data that needs to be managed. The nfl decided to team up with net app and i spoke to the vice chairman earlier this morning. He said they have been testing like crazy the last 30 days because you dont want anything to go wrong with this. They are testing on a lot of different fronts. I mean everything from communications to photographs to even security is being used and evaluated right now by net liz speaking of pictures, look at what we have got here. Closing bell ringing in 39 minutes. Shares of manitowoc hitting 52 week high after reporting better than expected Fourth Quarter earnings. Coming up the chairman and ceo of manitowoc will join me in a fox business exclusive. I will ask him the other ways the company is manufacturing profits. You dont want to miss that. Theres a gorgeous stock chart. And, yeah, as we mentioned, the picture. Thats right. Hes not in the super bowl, but you know what . He was nice enough to show me how to hold a football. Although i got it wrong. Thats when we got to meet tim tebow. train horn vo wherever our trains go, the economy comes to life. Norfolk southern. One line, infinite possibilities. Liz heres your fox Business Market check. So the s p 500 will end in positive territory as it stands firmly above the 15,000 level. S p is not 15,000 it is, of course, 1500. 1511. As a cousin of this weeks winners. A close race at the top as of the companies have seen quite an earnings bump. How about little sydney bows which has not been making a lot of noise, but of more than 13 for the week. The business equipment maker give up the top spot today as shares are falling, coming down from yesterdays gains, surging as high as 19 to the upside after the company beat earnings expectations. You can see, it is just kind of moving around at the top, still a good story. Second place on your screen, activist investor Elliott Management taking the largest independent state in the company as it puts forth plans to shake up the board. Also to separate assets. Also reporting strong earnings this week. All this uping shares to get up above 15 percent every year my kids get the toy. Yes. The holiday season. You have to get it. Best snb performer this week, valero energy, shares hitting a new 52week high, about 2 , seeing a jump in share price after help from earnings reports early this week, shares up 17 for the week for valero energy. We flipped over. Impressing investors in its Fourth Quarter, showing that in the market today, jumping, as you see, for and a half percent right now. 18. 38, well above your 52 week high. What do they have planned . Lets find out. The chairman and ceo joining us now in a fox business exclusive from green bay, wisconsin. Again, look into the program. We want to bring you back. Talking abut your two very separate businesses. You are in the foodservice business, but which part of the business takes the about today for these numbers . Both of them. I mean, it has to become an that think that is the strength of the business. You can see what happens when both do very well. Crane had a great quarter with their sales of over 12 percent, and foodservice of 7 percent after two quarters of nearterm flat growth. So both of them deserve a lot of credit for what they did in the Fourth Quarter. Liz look at that number, and it was not in the past couple of quarters. Sometimes it was, sometimes it was not. To see that i look and say, who is buying . A Big International part of your business. Which regions are showing real strength . Purchases in the delivery. This is a great window and our economies are doing around the world. The strength of the Fourth Quarter, i think a good portion of the year was in the americas. North america with both u. S. And canada, south america, but you look at the rest of the world. I would say other than europe and china, it has been an okay market. He looked at the middle east. You look dead parts of asia and greater asiapacific. So it has been a good, Broad Spectrum of positive growth. Liz do you see any improvement . Focus on europe. To you see any incremental growth there . I think our projections for the year are pretty flat. I think many positives that you will get in certain areas could be offset by further weakening. Maybe even some of the, you know, whether it is a certain portion of france or germany, but in the u. K. Is still suspect. No, i was going to call the flat and then held for the strategy, but there has to be hope. Liz be happy. Something good happens, even though you say that china looks not as healthy as it has been in the past, you are striking some partnerships. You must be a believer. You will be doing a Partnership Involving mobile crane. Would it be assembly . Tell us about the relationship. We had a joint venture in track cranes cause of this is changing a partner that we had. So windy partner now, a large Construction Equipment manufacturer for the Chinese Market and probably one of the largest, those of manufacturers in china, there are a lot of things that we can use and distribution, sourcing, some things once we get china done and some technology, we can take some of those trains into the emerging markets. For right now is going to be simply based upon truck cranes up to 25 and 50 tons. Liz this just popped into my head about the price of metal fluctuating. Do you hedge . What is the main battle the you are most interested in when it comes to creating a crane . Well, it is really the heightened self strength steel, and so, yes, we can hedge a little bit with some of the suppliers, we tried said it longer Term Contracts with them. Liz are you buying mostly from u. S. Steel . Who has the best prices . When it gets to the steel there are only four or five suppliers worldwide. We have some out of canada and some out of europe. A little bit out of the united states, so it is a small number of producers. Liz okay. You learn something every day. We get the jobs number today. Some of provisions which were encouraging for november and december. Are you guys hiring . If so, where . Well, you know, across the board we are hiring in most regions. I would not call it a substantial growth, but i think when you look at some of the professional positions that we need with respect to engineers, you know, i tea, some of the other some of the changes were making in mexico. We have the new facility down there. Some of the consolidations were making into service from Southern California to tijuana. It is across the board, but i would not college substantial anywhere. Liz thank you for the honest assessment. The company doing beautifully. The stock breaking through the ceiling of the 52week high. Nice, nice year for you. Thank you very much. In queue for having missed. Liz anytime. When closing bell ringing in 27 minutes. A star in the Hedge Fund World is doing something that is raising a few eyebrows. Traders do not know what to make of this. You have to hear what it is and what Charlie Gasparino has been finding out as he works the phone. He is rushing down here with all the details. I dont know what calotype he is wearing. We will find out. All stations come over to mission a for a final go. This is for real this time. Step seven point two one two. Rify and lock. Command is locked. Five seconds. Three, two, one. Standing by for capture. The most Innovative Software on the planet. Dragon is captured. Is connecting todays leading companies to places beyond it. Siemens. Answers. Liz a Company Called the red is soaring. The first day of trading, talking about the animal house spinoff of pfizer. Lets talk to nicole at the nyselisted looking at this is a nice move. Reporter im looking at the zoetis post. A 3133. A stock we will be watching closely. A spinoff from pfizer. Obviously for animal health. Over 70 countries. We talk about zoetis, yet another ipo. Very special because it is it is the largest ipo after what we sell its facebook. That number one spot. Another thing we should note, pfizer retains some shares. They give up these zero animals. The volume has been extremely heavy on the floor of the stock exchange. This one off and instead nutrition business. Liz it as an extraordinarily well. Embosses industry. This is at least, something has been the other kids. Thank you very much, Nicole Petallides. You cannot have food tonight. Always fun to read dead days of tepper tea leaves. A Billionaire Hedge Fund investor who runs the gigantic Appaloosa Management fund. Bullish on financials, but a recent move in the market as some traders scratching their heads. You should listen to this. Charlie gasparino, financials. Reporter one trade may not mean anything. We dont know, but it was kind of interesting the way he put up the bid for a hundred Million Dollars in what is known as hybrids, securities that act like a bond and stock at the same time depending on how you hold and trade. Companies put them out all the time. But what happened with tepper, and we hear this from sources that are in the bond market. He went up, and this is after he has been very public that he is bullish on financials. He likes city. He went out and put out a bid, 400 million hybrids for three, three companies essentially, three financial companies, a spocks, the banking arm of lloyds the lloyds of london insurance, bank essentially. While bank of scotland and commerzbank. Pretty interesting. Its not like to salute your there. A lot of Hedge Fund Managers trade because they want to cover their tracks. He put out a bid, and there are banks that picked up,. He is doing this just as he is talking about financials. Why are we telling you this . Well, maybe put it into your investment mindset, you know, a guy that likes financials may be turning a little bearish. Why . You heard dick did something the other day. Liz 14 years. Never gone down in value or had a bad quarter. He did not quite say that, but very bullish. Financials could have headwinds. European problem starting to creep back. Morgan stanley put out a note that said be wary of the european economies. The ability of certain countries to pay back debt. Spain obviously a big one of the worries and parties, and, by the way, if youre worried about the countrys you have to worry about the banks. Even here, the bank sold some of that talks to stop. The banks hold some of that toxic stuff. But when appaloosa, wed sit around talking gusty all the time. Appaloosa is one the best. Liz of the usually covers his bets, maybe hes trying to create a diversion. Reporter maybe he just wants people to kiss his ring. You want to do business with me. A hedge fund. He sells a lot. To do a lot of trading activity if you want to be our friend and business, you better put up some. Liz improve the lot. Reporter from when i understand some of these bonds were in sovereigns, euros. A european bank, royal bank of scotland. Commerzbank is that german bank. Commerzbank. Springtime. Liz [speaking in native tongue] thats all i know. That was this tree we stayed at. Reporter did you ever see that mel brooks . Springtime. Liz missed it. Charlie gasparino chemicals and building in that 17 minutes. Money is flowing into stocks. I did not have ceased to get tickets for that. Kind of like it did in 2000, more than 75 billion in january alone. A bull market in treasurys officially over as money flows back into stocks. Liz coming up next in a fox business exclusive, head of u. S. Strategy a twist on this one. You have to hear what he has to say. He was ready yearandahalf ago. You have to hear what he thinks now. Twins. I didnt see them coming. I have obligations. Cute obligations, but obligations. I need to rethink the core of my portfolio. What i really need is sleep. Introducing the ishares core, Building Blocks for the heart of your portfolio. Find out why 9 out of 10 large professional investors choose ishares for their etfs. Ishares by blackrock. Call 1800ishares for a prospectus which includes investment objectives, risks, charges and expenses. Read and consider it carefully before investing. Risk includes possible loss of principal. Liz at fox Business Market check. Im keeping an eye. A little bit comfortably above that 14,000 level. The market at its best levels in more than five years. Fortytwo stocks now, the s p 500 hitting alltime highs today as we look at a few of them. Google hitting a record, up 811 from its ipo back in august of 2004. Among this was to hearing back in . A nice move up more than 800 . When it opened back at 85, 85 per share. Media giant disney getting a boost after better than expected Consumer Sentiment reporting. Gilead is one of the six Health Care Stocks hitting an alltime high today. Similar story for travelers, honeywells, nice moves all around. Alltime highs. With the market at its best level in more than five years, suddenly people are starting to of supposedly feel comfortable. The number of new highs growing by days. I guess it makes sense to keep your money parked in treasurys, especially when yields are just around 2 . That 10year. Lets bring in George Goncalves, managing director Nomura Securities managing director, and here is his title, head of u. S. Rates strategy. Fascinating me. When you wake up in the morning what is the first thing as you fire up your laptop or computer, youre croupier, whenever it is to know what is the first thing you check . What is the first thing you look at . First off, we dont sleep in the bond market. It is 24 hours, so we are on all the time looking at what is going on in the overnight sessions, the currency markets, getting information from all angles and trying to decipher, is there be a trade in farm and what we have before, the day prior, and you looked at the currency, euro, yen, what is going on in the futures. Both the bond market and the stock market. Liz the euro today, 137, maybe 138, what does that immediately tell you . Some type of whiplashed domino effect . Well, again, not everything is 1for1. You have to put into your head what you think will translate into your respective markets price behavior. And in the bond market we can talk about valuations, a lot of different things. It is the support by the fed, but keeping rates low and by doing too weak, so hard said like we used to, really both for markets and the mental. Liz so a big discussion over the past several weeks, the socalled gray rotation out of the safe havens like treasurys and back into equities. Back into stocks. Do you believe . Is a real . Is it happening. Said of the degradation. There is a great catch word to kind of put out there. I believe what we are seeing is enough to go everywhere. With the fed keeping rates low, it is going to be hard to see bond markets liz is this number significant, 75 billion cash flow into stock mutual funds . In the past we have seen draws. It is definitely in the right direction. The question is, coming in after a pretty big move in the equity market, my biggest fear is that we brought in Retail Investors near highs. He knows where they really are. If there were to sell for two or three months drawdown the other way, i know why dont go to the stock market because there is this kind of behavior, risk behavior. Liz Corporate Bonds have been popular among the smart money over the past two years now. Menem. But the question becomes, if rates start to go up, the debt markets could face a substantial possibly repricing or even a liquidity squeeze. How would that manifest itself . How can people protect themselves from that . The committee squeeze is still off the table. Remember, all this money out there. Liz its still there. That does not mean prices can change and valuations cant change. I think that more of an interestrate risk than an actual spread risk because the economy is we feel were in for a second half of the year, the recovery will continue. So the corporates are based more on that grows phenomenon. The markets like treasurys and mortgages are being manipulated, speak. So there is support for the credit markets over time. We just think that rates, spreads are tight. Corporate bonds probably it is where you want your money right now. Liz okay. What is the strategy that youre recommending . We think, especially for more broadbased investors, having the ability and flexibility to have some cash available, rates go back up and yields that spreads right a little bit you can put money to work. Having a very at the approach , having very shortterm treasury so you dont experience the interestrate volatility and get hurt from the duration perspective. And then when rates come back up, they present themselves as buying a virginities. In a very real. Liz that is why you have the cash so you can immediately put it to work. That is right. And that is something that if youre not used to, treading the bond market, think of them as longterm investments. Were entering into a world where we left that have to learn how to read the bond market. That is why the rotation does not resonate. Youre going to have to do both. Liz when you talk about what to avoid the images that i would be a little cautious about reading too much in corporate sites. If you are a longterm investor, and you have had large allocations you can probably move down. That is what most people have. You know, looking for where there is still valued. Oversees emerging market bonds, although there is always the emerging market connotation, the dynamics are bad better than the u. S. The dynamics, so the bond market, there is always a many rotation. Greg rotation. The risk. Liz George Goncalves of nomura, the head of u. S. Rates strategys never sleeps. The bond market never sleeps. Thank you. Closing bell ringing in six minutes. A quick clarification on something we talked about with Charlie Gasparino. Hedge Fund Billionaire investor tepper put out bids for hybrid bank securities, hybrid bank securities. Just to clarify that. Six minutes away. We are at 14,009. Closing above, okay. We need to close above 14,163, 64 if we really want to get excited. c. [ indistinct shouting ] [ indistinct shouting ] [ male announcer ] time and sales data. Splitsecond stats. [ indistinct shouting ] its so close to the options floor. [ indistinct shouting, bell dinging ]. Youll bust your brain box. All onhinkorswim from td ameritrade. Liz here we are. Lets get ready. Im liz claman along with david asman. Nicole to