>> well, i think the fundamental backdrop, becky, is too strong we're seeing it in the earnings easonck a lot quicker. we've been surprised by that if earnings are going to surprise by 10, 15, 20% like they have been, it will be difficult for markets to hold back that far unless we get that rate shock that would be the one thing that could throw us off the bottom line, it's a bull market a lot of good stocks out there people are too focused on the index and the real opportunity at the stock level. >> the stock level which is still on the cyclical stocks, energy, banks, if they were stronger in the last two months of the last year and all of january and the last week as well. >> that's right. this is part of our quality. we felt like that's the right place to being it needs to consolidate and that's what's happening. some of the cyclical areas have pulled back the most and maybe that pause is over now we don't want to get too cute here, right? we're in a cyclical bull market. new economic recovery. trying to call corrections is a fool's errand. it's our job we try to do that the best w