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sam stoval is here, chief equity strategist with s&p capital.volatility chalked up to president's remark in europe, a disquiet, and volatility as you said. what is going to here? >> i used acronyms to help me, chum. in sense that the concerns about economic cite, china, concerned about ukraine, one of those momentum stocks, home building, biotech companies like net blix, we're in the end of the quarter, portfolio managers engageing in window dressing to make sure they have good stock on their list, dump those on question. lou: and the m ? there momentum -- lou: fascinateing, you think this we'll see then any improvement in attitude in the market? come the first of april. >> well, no fooling, but i think that as we head into april, investors of talk about fact that second quarter, of the midterm election year is the worst of the 16 quarter presidential cycles. lou: excellent. just when visitors wantd to hear, averages they are not don much talking peanuts from the first of the year. where is there so much anxiety percolateing right now? >> a lot

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sam stovall is here from l.a., the shaken town where that 4.4 earthquake was felt. burt dollman.nk this market is topping out. >> it's nice to be with you again today. our view on the markets is really the weight of the evidence. that's what's important. and it's not a gut feel. gut feel is only good for telling you if you have indigestion. but the weight of the evidence is negative. we look at money flows. that's the only thing that can change the price of an investment. earnings are history. money flows tell you what is happening now. >> where is the money flowing right now? >> it's flowing out of the emerging markets. china is having a big problem. china is going to be the contagion factor for the emerging markets. first asia, then the rest of the emerging markets. >> isn't all that money going to come to u.s. equities, not to mention the trillions of potential cash on the sidelines and the money that could come out of fixed income. >> kelly, that's what the bulls say, that the money will come into the u.s. markets, but in today's world, all the financial markets are interconn

we have sam stovall with us. tim leach, marty patel, steve liesman is with us, so is rick santelli. we are ready to go here. steve liesman, i will start with you. we haven't mentioned janet yellen's speech today. she made it clear exactly how dovish she is, didn't she? >> which is a key issue for fed and fed policy and what she said is that there's an awful lot of slack in the labor market as far as she's concerned. she mentioned people working part time for economic reasons, people unemployed for longer than six months. she talked about five different metrics and if there was any doubt how dovish she was on the issue of labor. i think the thing that moved markets was her saying that this required the fed to remain easy for at least some time. didn't walk back the six-month comment, but in a subtle way suggested maybe it was longer than six months. also, bill, taking a very populist tact for a fed chair. she mentioned individual americans by name and their experiences in the job market and later in the day maybe we can bring you this after her speech, hopefully we'll be able to brin

. >>> after crunching the numbers, standard & poors sam stovall said it's better to buy than bail. back to break even, on average. sam is chief equity strategist at s&p capital iq. he's chairman of the investment policy committee. he comes from a long line of famous stock market people. my generation it was bob stovall. >> that's right. still around, pop turned 88 in mid-february. he and i are going to be doing an event in late may for the executive forum, a program part of nyu. >> i remember him, was he chief market strategist at dean witter? >> if you go back to e.f. hutton, reynolds and company, my grandfather was the first employee of reynolds and company that later became dean witter reynolds, et cetera. >> that's amazing. three generations. okay. it's been good to be long since the bottom of right in the middle of the crisis. you basically have been. >> yes. >> i remember as you've come on. you get criticized to are that. you sound look a permable. it's hard to criticize someone when it's gone from 666 on the s&p. >> devilish number, wasn't it. >> it was an oman. are we in a s