>> good morning it's 8:00 a.m. at apple head kwartds aquaters 11:00 a.m. on wall street and squawk alley is live. ♪ ♪ good monday morning and welcome to squawk alley. kayla is out today. we're at post 9 on another record setting day for the markets. dow is up 88. joining me is roger from

elevation partners. good to have you with me as well. ceo tim cook speaking at length with the washington post over the weekend. talked about a ton of subjects including the iphone, the fight against the fbi succession and some of his biggest mistakes as ceo. on the iphone he says overtime i'm convinced that every person in the world will have a smartphone. that may take awhile and they won't all have iphones but it's the greatest market on earth from a consumer point of view. he also says running the world's most valuable company is a lonely job but he's not looking for any sympathy. we'll start with you here. people have been dying for cook to be introspective for awhile. this is about as close as we have come. >> it's an interesting time to do it. right before the big iphone launch. it's normally a slow season for their products. we now have the washington post piece. it's tim cook setting the table for how apple thinks about things. what kind of a company apple is. can you imagine if you're an

apple buyer on the sidelines but you like the company, this might spur you to go to an apple store and walk out with something. they're being a lot more strategic in their pr and communications, perhaps reflecting the services revenue that they're trying to grow and this is why that could work. >> why do they feel cook should be personalized now? >> it's as simple as we're now at five years of tim cook being the ceo of the company so it's a natural point to look back and reflect. as john just pointed out there's really serious issues that investors and employees have to be asking because the world looks different today than it did. and it's better but he is a

really compelling character. it's hard to imagine the company would have done as well with stooe jobs in place. you have to be a diplomat to be the ceo of apple now and in many ways i think tim cook was the perfect person. what about the substance of what he is saying about the iphone. he has to walk this line by saying you have an amazing magical product in your pocket but also saying we he can do more with it. remind people of how good it is already. >> i think this is going to be a walk he will have to walk in a long time. this is the biggest product cycle in the history of anything in business and it's propelled apple from a large scale, being

the largest most profitable business in the world and there's no second act that follows that. there is no way to sustain the kind of growth that they have had. he has grown the company and there's going to be a period of time here where we consolidate and i to think he's right in the sense that they will eventually sell smartphones to everyone at lower prices probably with lower margins but they can build services businesses that are very attractive and there's no reason to believe apple will not remain both huge and immensely profitable and be thought leader in the american economy. those goals are there and we'll have to get used to it being a value stock for awhile. >> what you say about there not being a second act there's something i saw in that piece that i thought was interesting. he's referring to the apple watch and he says we're still pulling that string. we've got the base technology. pulling that string is a phrase

he used to talk about apple tv. i wonder if he's setting us up to see the iphone as a world apart. smartphones as being a once in a generation, maybe once in a lifetime type product that each person is going to have one but the watch is not going to explode the way the iphone did. it's a spul of the string. we'll still be talking about it that way four or five years from now the way we still are about apple tv. >> i'll put it this way. that would be great news if we're still talking about it because it will mean that somebody has bought it. from the beginning you may recall that i viewed the apple watch as really being part of their services environment and a driver of things like apple pay, their palt system and i do think the apple watch's best days are still in front of it but there's no way for a product of that type at that price point to put a dent in apple's income statement any more than it's possible for apple tv to do the

same yet they can each play really important roles in driving the services for the apple ecosystem and i will point out that apple tv is a terrific product. it took them forever to get there but it's a great product today and i can't live without it and a lot of other people feel the same way and i will be surprised if they don't eventually make the apple watch compelling to the people that use it. it may not be 100 million people or a billion people using it but for those people that do use it i suspect they'll get huge value and that it will drive other things in apple's ecosystem that are valuable to everyone. >> looking back to when cook took the job someone wrote his greatest invention may have been tim cook. to your point roger. on another topic, 13 filings are out and there's a lot to talk about in tech stocks. kate kelly is back at hq with that. >> good morning. big tech moves here bullish and bearish. both sides of the equation

starting with leon cooperman $5 million hedge fund. they took a new stake in netflix of more than 370,000 shares during the second quarter. netflix having a tough year so far. down about 16%. cooper man wouldn't discuss exactly what his thinking was so it's up to us to imagine whether he's taking advantage of a cheap price. at the same time facebook having a great year so far saw lots of activity. bought almost 4 million shares. no comment on that one either which compared this market to game of thrones and added portfolios matter as much as stock picking. dissolving a stake of 1.6 million shares is worth some profit taking. that was a relatively short-term trade. the fund that's known for its activism jumped into a couple of

new names adding about 2 million shares of expedia and 4 million of hewitt packard enterprise and elsewhere on tech increased his take and sold off a large position in vm ware. possibly capitalizing on a stock up 26% so far this year and the filings are still flowing in. >> that's a lot of good information. thank you for that. >> it comes as the nasdaq is hitting new intraday highs. roger you have been arguably net cautious on markets for the past couple of years you went through a period where you said technology was taking a breather from massive innovation. what explains this rotation? >> it's as simple as we have central banks around the world, particularly europe pumping new money into the system and

there's nowhere for it to go because companies are not investing. governments are not investing and it's all going into the capital markets and with a predictable outcome it's going into things where there is some and things like facebook and google and amazon and i look at this and this is against the backdrop of weakening demand in china and europe and the u.s. is a place of relative strength but still our companies also globally and as a consequence when europe is weak and china is weak that's going to keep the numbers in check so it's just going into valuation which in the long run is going to make for some trouble and this is great news.

i'm glad stocks are going up but the wall of worry is very tall. >> what i also think is interesting is i'm looking at this list of tech stocks here. i'll call them the dirty 13 yelp is up and a lot of them are relatively unloved. there's linked in. etsy, gopro. gopro is up 27% for the last three months. >> when you look at stocks like that doing that well in this environment, what is that signaling. >> the market has been going up now for six months since the february low and you have to have people rotate out. those were some of those names but also m&a has remained relatively active. certainly in tech. that linked in deal got a lot of wheels turning in peel's minds in terms of where else there might be value but something you

didn't mention is semi-conductor stocks have been a leadership group for awhile now and that's really something that usually has more of a fundamental basis in it. it's not just the sentiment shifting related to facebook's long-term earnings streak for example. >> does this make you want to double down on your net cautious call? >> no it makes me more cautious. that's all. politically the world is in a very awkward situation. when the market is giving a lot of sunshine as it is today you make hay and then you want to be prepared to move quickly to the sidelines if your risk tolerance tells you things aren't going to get better for you. i look at this market and i'm glad it's going up. i can see why it's going up. central banks are pumping a lot

of liquidity into the system and the fundamentals are not going to support much higher valuations so you have to have an appropriate time. these are trades and i like the trades. let's hang in there and keep your fingers crossed that they remain accommodated and they up tick before they down tick. >> collectively. >> those are markets. those are markets my friend and that's what it is all about. that's why we get paid the big bucks. >> good to see you talk to you soon. >> welcome back. i want to see you samba. >> as we wait let's take a look at the broader markets. still trading at record levels. tacking on gains across the board. you see there the dow s&p 500 they have obviously never been there before.

sal shares seeing a nice gain and upgrade to neutral. >> when we come back twitter and it's live nfl coverage could be coming to apple tv. stocks jumping on that news up almost 7%. we'll talk about that: we'll talk to the times reporter that broke that story. plus usain bolt and ryan lochte. the headlines out of rio and then headlines warning trump to step you or hand the nomination over to mike pence. more squawk alley in a moment.

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since live stream nfl games on sunday night they signed similar agreements with others. mike isaac is a technology reporter for the new york times that broke the apple tv story and joins us now. good morning mike. >> hey, how are you? >> good, good. so you mentioned in your story that the google search placement deal seems to have teetered out a little bit in terms of its growth impact on twitter. is there reason to believe that an apple tv deal might have more legs for them? >> i think twitter is really betting on many platforms as they can right now to get this sort of big streaming push for

them out as widely as possible. i spoke with anthony, twitter cfo when i was reporting this story a few weeks ago and one of the things he talked about was there's a bunch of things they could do to deal with the google stuff which includes keywords against searches for the nfl game where you can find it streaming online and this apple tv deal, which i found out later on which could just bring that audience, widen that audience up to a million more people that wouldn't otherwise be watching it. >> now, mike does this solve any of what you see as the fundamental challenges that twitter has? i guess some might say if they wanted to expand it to video they need broad distribution. organic growth isn't giving that to them so another platform could help but in terms of the way people treat each other on twitter, around the way these different services may be

periscope are sbi grated into the core product is this going to fracture twitter or bring it closer together? >> that's a great point. right now they're trying to get people in the door anyway they can and they can sort out the abuse issues later that they seriously have a problem with and have had a problem with for a very long time but, you know, their pitch right now is they have an audience of more than 500 million users. probably potentially more than go facebook in some cases because they have this huge logged out'd yens of people that don't come to twitter.com to see the product. so the question for them is how can they put twitter into experiences that people know? whether that's watching traditional tv or, you know, these other sort of apple tv or xbox is another one that they have actually announced and get them to see the value in using twitter along with that tv experience. and in this case, that means literally putting twitter on top

of streaming game and, you know, frankly no one knows if it's going to work but it's a pretty big bet. >> one thing i like about your story, mike, is some of the history and the explanation of how the debate of what twitter's evolution should look like goes back interest well into the ten year. has this been a tortured process or not? >> i think everything in twitter is a tortured process to be honest. no, it actually has. there was, in there i read about i think it took like 18 months for them to actually decide we're going to build a video product. we need a new player but one of the things the former ceo did was make this phone call about 18 months ago saying we need a content strategy. what is that going to be? are we going to produce our own? with buying this new site that

they ended up not toidoing? and ultimately they did the licensing deals and twitter has a pretty young audience. some 72% is 18 to 34 and that's pretty attractive to advertisers and the big audience that snapchat is really sort of positioning themselves to be speaking with. >> does the fact that they actually set up and have to do the licensing deals and made moves in this direction indicate that management at twitter is no longer settling back on this idea that it's just this essential service for civilization? they had a very elevated sense of what twitter's mission was in the world without having that much of a business punch line attached to it. >> folks like us see the value in twitter. we're moving along in any

presidential debate or basketball game or whatever but normal people don't know why they should use twitter and don't get those instant sort of fun -- carl and i are bffs on twitter. it's hard for a normal person to come in and see that value. so i think there's a business case at least in getting these streaming deals lined up but really, something else i noticed was this hopefully trickled down to sort of surface the underserved content on twitter which is all the other moments that are out there, really every single day. >> i like how you said it's hard for a normal person to come in. >> we're not normal carl. >> but quite a twitter bromance you have going here. >> thanks for joining us. >> when we come back, google parent alphabet is rethinking plans for google fiber.

where could it be headed? we'll discuss that when we come back in a moment. aying] [crickets chirping] [owl hoots] announcer: if you don't fix them, sparks from dragging tow chains can cause a wildfire. and that could be scary. bye, smokey! only you can prevent wildfires.

google parent alphabet is rethinking plans for google fiber. live in san francisco with the details. good morning. >> good morning, that's right. the wall street journal reporting that google is, quote, rethinking it's high speed internet business because it's proving too costly and too time consuming. google fiber is in six cities nationwide. alphabet's high speed internet arm launched six years agatha offers web connections up to 100 times faster than their current internet connections. the company reportedly spent

hundreds of millions of dollars digging up streets to lay fiber optic cables in it's subscriber cities and is trying to cut cost by leasing existing fiber or asking cities to build the networks. google says we're continuing to work with city leaders to explore the possibility of bringing google fiber to many cities. this means deploying the latest technologies in alignment with our product road map while understanding local considerations which takes time. and the cfo reiterated the commitment saying we continue to see fiber as a huge market opportunity. we're focused on creating abundant connectivity on networks that are always fast and always open. fiber is part of alphabet's other segment that's come under scrutiny with a string of departures from google ventures and it's self-driving car project. it's been a year since they announced the creation of

alphabet. designed to retain key executives but the recent challenging are raising eyebrows. guys, back to you. >> thank you. this is so interesting. especially in light of the way the telecom industry responded to this. i should mention that cnbc is owned by comcast that has a dog in this fight but at&t executives and others are looking at how quickly google was able to get approval for the fiber projects and now google is running into some slow downs. we'll see where they go from here. thank you. and coming up, new claims about donald trump's campaign manager and his ties to russia and ukraine. walter is going to join us on that when squawk alley comes right back.

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. >> more than 100 homes have been destroyed in a northern california town still recovering from a devastating blaze just a week ago. it's about 90 miles north of san francisco. 1,000 firefighters are battling the blaze that's only about 5% contained. >> at least two people have been wounded in a bombing that targeted the afghan military. it took place at a main square

in the u.s. embassy. >> it recaptured several villages freeing civilians two years after the militants took control. more than 100,000 people have been displaced. and japan, marking the 71st anniversary of the end of world war ii. about 7,000 people attending a national memorial ceremony in tokyo. the prime minister abe among the japanese leaders that were present. that is the cnbc news update at this hour. let's get back to squawk alley. carl back to you. >> thank you, sue, we're counting the european close about a minute or so ago. sarah is back at post 9 with that. >> european stocks going strong into the close as well finishing at the highest level since may. energy companies leading as prices jump. the dax actually turning positive for the year. just barely and an interesting call to tell you about. jp morgan says that the ftse 100

and the u.k. post brexit rally has more room to run. saying that the weaker british pound is a big positive for stocks. especially the exporters. 72% of the ftse 100 revenues are generated outside of the u. k. and on that note the pound sitting at a three year low against the euro. but j.p. morgan says we're not suggesting that it will be all smooth sailing. and h&m among today's winners. better than expected sales and julies up 10% a year ago and that comes after they reportedly have a sales miss back in june. one other mover, ucb biggest

gainer on the stock 600 today. the district 4th judge upheld a valid ruling for the epilepsy drug can go through and then a lot of u.k. data coming up this week. this is the first hard data after brexit for july and starting with inflation tomorrow and jobless claims and retail sales. we'll tell you about that earlier in the week. >> thank you, sarah. new headlines on donald trump for the wall street journal not exactly positive. john harwood now joins us from new mexico. hey, john. >> >> the question for republicans is what do we do about donald trump? he is trailing nationally and in battleground states and keeps saying and doing things that clean up the damage. >> are you the clean up crew? >> i couldn't be more honored to be campaigning shoulder to

shoulder with a man that i believe is going to be the next president of the united states. >> you do have to clean up and explain the things he says. >> we have different styles but we have exactly the same convictions. >> now the consequences aren't just for donald trump. the house majority is safe for now and pick up four seats to win and republicans including jeff session acknowledge it's going to be very different. >> there's no doubt about it. we are so exposed. we have about three times as many republican incumbents up as dell cats so it's going to be a battle. >> now the question for republicans they're big donor and the republican national committee is whether they begin to divert resources toward the

house and senate races. hasn't happened yet but you can bet that's going to be considered seriously if in a couple of weeks and put out adds saying i would stand up to donald trump. i don't much care for him. the distancing process is one to watch guys. >> john harwood in new mexico. thank you for that. the media of course in focus this election cycle almost as much as the candidates themselves weighing in from beautiful aspen is the aspen institute president and ceo walter issacson. great to see you again. >> thank you. >> i got the mass e-mail saying i now have two opponents. namely clinton and the media. what's behind this and is there a possibility that it is effective? >> well, every losing candidate

blames it on the press but nowadays you have all sorts of outlets ranging from fox and msnbc or others that are more on the left so it's not like there's just one media these days. if people don't like what they see they can click something else and change the channel. >> walter, you are a scholar in american history. how do you place this election and this cycle in historical context given the part of the base of the he electorate that donald trump is trying to appeal to and given the final turn out we saw in the primaries. what is that signal about what is likely to happen in the general and where we go from

here? >> but this is a very real election. >> and the prorussian fractions in ukraine. and interfering in our electoral process. and what trump has begun to make about if hillary clinton wins pennsylvania it will be because of cheating. given the concerns peel have about things being rigged whether it's the stock market or the economy or so on, is there any hope in bringing things together whether you're donald

trump or hillary clinton having won in january. how does that process take place historically? >> it always happens. i remember being at time magazine when that happened. we were all prepared for people not to accept the various court ruling that might be in conflict but today it was decided at the supreme court level. very resilient station. you're starting to see a rising sentiment to get things done. request and i think one way this could play out is probably better for conservatives than the republican party if donald trump is defeated handily but they retain the senate. then you'll have a hillary clinton that has to work with the republican senate and maybe the country rights itself pretty quickly. >> walter i'm curious, you ran

time and this past week they ran a provocative cover called melt down with a image of trump's face melting. is that appropriate? would you have signed off on that cover? >> yeah, i mean, they have done probably as many covers on donald trump as anybody. some favorable. some unfavorable: the incredible shrinking presidency and those are just visual things that i'm sure donald trump would understand well and indeed it is the news of the current period and his campaign is melting down. that doesn't mean it will continue to melt down. it just means here is what the news is but as i say we're entering a period where even whatever party you're in, you're starting to see the russian

involvement in the election. the fact that we don't know the financial situation that happened with paul manafort or the trump taxes or how much of any was refinanced of his debt by russia. he's giving a speech today in which he talked about being partners with russia. he has undermined the credibility of nato and the threat if russia invades the balan balkins. all of these are not part of the democrat republican usual divide we have. maybe we'll see a realignment. >> you talk about the mood of this campaign right now or this election, is it possible, a lot of folks now saying there was a fundamental miscalculation by donald trump in thinking that the country more broadly was as angry as his supporters were. does that make that comparison with the uprising of andrew jacksons a little bit less

applicable? >> wrae. you're right. that's a good point to make. however given the primary season that was not a real understanding of resentment. the trade deal and globalization. technology. all of the things that have effected our economy. that doesn't mean that necessarily building a wall and some of the things he says is right but it does mean that it's useful now to focus on the fact that even if the anger isn't quite as bad as people are saying, that at least the resentment and the fear and the feeling that my job is not secure, that is there. so maybe we should look at everything from infrastructure to trade deals to immigration think the lenses of good american jobs and that would help us refocus on a stronger job with good wages.

>> you talk about this resentment that was misunderstood and underestimated with that in mind when you see polling now, are you skeptical about the numbers given this that trump has tapped into. >> yes. i've always been skeptical. the brexit polls maybe more skeptical. these days polling is a less fine art the fact that most people don't use landlines anymore and just secondly, when you have a time of resentment you probably can't poll it that accurately so i'm just looking at what's happening in the election and i'm not believing every single poll that comes out. >> walter it's good to get your point of view. that live shot behind you is gorgeous. even if you said nothing we'd probably take it. >> how does it compare? >> a little construction behind

john's shoulder but they're both good shots. >> we don't do that here in colorado. >> walter, thanks. >> when we come back, and plus we go live to rio, the domination of usain bolt continues. more on that in a moment.

coming up today on the halftime report, stocks hit new highs or are the bulls just getting started. why we may be in for a big post labor day rally and a bold call

on oil stocks today. we're naming the names that could soar no matter what opec does an an analyst move on valeant we haven't seen in quite sometime. john we'll see you in 15 minutes. >> looking forward to it. an interesting move for ibm. work day announcing a 7 year deal to use ibm's cloud for testing and developing. something they had been using amazon for. this comes after reports that ibm was losing ground in competitors like microsoft and amazon. it possibly shows that ibm is is willing to cut deals to get cloud business from major players. we're in the stage now whether i'm talking to oracle or microsoft where they want to move beyond into getting these larger enterprise players to run their production business in the

cloud. who are these folks signing up for significant deals that will be significant workloads overtime. that's why you saw microsoft and ge talking about the ability for ge's critics platform to run on microsoft. there could be business coming in from that that amazon now tends to get but we'll see. >> i notice sales force, one of the worst performers today. it's not related to the work day deal is it? >> i wouldn't think so. sales force not in the infrastructure game. it's more on the application side but there's questions about where these players are going to end up. whose camp whether it's infrastructure or platform. >> meanwhile we continue to keep our eye on the markets and week two of the olympics. let's get back to rio. andrew ross sorkin is live again. >> there is no question here in rio that the athletes competing are the best in their sport of course. but we wanted to know what other sport they would compete in if they had the option.

give credit where credit is due. we'll now give it to you carl. this is a presentation ask the athlete. >> i think golf, you know, it is a very skilled sport i guess. it's not -- coming from swimming it doesn't look too physically challenging to us and i think as a swimmer that's very appealing. >> rugby. after watching rugby the last couple of at as i'd like to try it. i'd like to try it now. not very many people have gone to the olympics in two different sports in the same games. maybe i can do it in 2020. >> if i wasn't swimming i'd play baseball. big bulls fan. >> i have never played tennis in my life but i think i would be a good tennis player and i would like to play tennis. >> if i wasn't a fencer i would love to try soccer or tennis probably. i think the uniforms are cool.

>> and we have got a number of these we're going to be rolling out throughout the week. we have been talking to a lot of athletes. carl, you back end points on this idea of the ask the athletes segment. >> you would know more about that than i would andrew but it is a great platform to give athletes views about things other than sports. this is what we have asked them what they would do with a million dollar endorsement. what their favorite social platform is. they have a career to manage that goes beyond the field of play. >> we got some fun ones. we talk about politics with a couple of them and some people don't want to answer it of course and a couple of other fun questions including one for binge. so we're trying to work it carl. >> that sounds good. boxing would be your sport if you're an olympic athlete. >> fencing, maybe? >> fewer broken noses. >> i watched some boxing on the

over. brutal. >> even with the head gear and the rules and everything else it's no joke. >> what i like about the feature too is they're so single minded their entire lives so if you get them to say well maybe you have something outside that one single one single thing you've tried to do for years. >> talented athletes, for sure. >> raising my hand for table tennis. >> you practically are an olympian. >> we'll be having fun table tennis. ping-pong, coming up tomorrow. we will roll some of that for you as well. >> thanks, guys. >> looking forward to that, andrew. good stuff out of rio for sure. coming up, an animated film about sausages hosting the best-ever debut for an r-rated . is the stuff that matters? the stakes are so high, your finances, your future. how do you solve this?

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ant in the summer when the total box office is down as a number of big-budget sequels have fallen flat, audiences flocked to something that felt totally different. a raunchy comedy about hot dogs and other foods. julia boorstin joins us with a look. >> sausage party, the best-ever debut for an r-rated animated moec movie, considered risky for studios. scored the biggest august ever for an animated film. the raunchy comedy as food products avoiding being eaten, co-written and starring seth rogen. that's about twice what was

expected. the film reportedly cost just $19 million to produce. sony's columbia pictures sharing the cost with megan ellison's pictures. this gives a much-needed boost to sony, lagging with just about 7% studio market share so far this year. sony scored a win by allocating nearly half its marketing spending online. that compares to just 12% on average. this is sony's largest digit's marketing ever. and with others to drive buzz. "sausage party" cams in second to "suicide squad," though "suicide squad" box office performance dropped nearly 70% from last weekend. a negative review and negative word of mouth. "sausage party" should hold up far better than "suicide squad" did. it has an 82% critics rating on rotten tomatoes chaired to "suicide squad"'s 27%.

sony's first seth rogen movie since the interview. this seems to be working out better than the film. >> giggling uncontrollably at the number of time julia said "sauce sasage party." >> yes. >> "sausage party." >> when we come back, another look at markets. dow holding on to gains up narrow range. up about 77 points and hitting new intr dtra day highs. can a toothpaste do everything well?

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keeping our eye on the markets in a week you might think we're on august doll drumdrum doldrums. 13th record high since just july and oil helping out constructive, bounce of $45 a barrel as we keep our eye on that september meeting of opec, and your list of, i thought, tech names was interesting, because some of the gains are sizable. >> they are. not just off those february lows. even if you look over three months for example, up 68%, seagate, semiconductor name

including sandisk, groupon up 70%. mike, your assessment? >> a rally rolling a little while. people feeling confident, stable about the market. feels safe. part of it here, and looking for something that hasn't participated. s&p, something like half still down 10% from the high. a lot of instinct seeing who hasn't participated with the market all-time highs. >> and russell a frequent guest on the list. looking to set a new high. still about 5% away? >> exactly. a true bear market and not come all the way back. >> i think people are too confident we know the fed is sidelined a long time. inflation data followed by janet yellen speaking next week is at least a guess what could upset things. >> hearing from lockhart,

dudley, cpi could raise eyebrows in addition wednesday. >> filtering in leading up to that jackson hole event next week. >> all right. see if these gains hold through the course of the afternoon. right now, dow up 75. over to headquarters and scott wapner and the "half." carl, thanks. welcome to the "halftime report." i'm scott wapner. top trade this hour, the market melt up, all three major averages hitting new highs again today with at least one wall street strategist now growing more optimistic on stocks. but despite the near daily records, a large group of investors remain unconvinced with cash on the sidelines sitting at record levels. brings us to this question -- is a flood of money about to buy into the rally? if so what could that mean for your money in the months ahead? pete, i want to ask, are we witnessing a change sentiment? people are starting to like this rally a little