let's get right to the floor show, we turn to morgan stanley senior vice president jim lacamp and trader scott bauer. jim, can you make sense of this the here? we have three down months in a row for the dow and the s&p, and you start to ask yourself with, okay, should i be betting the farm on stocks? should i be buying selectively, or should i be saving this dry powder for the moment? >> so, liz, look, seasonally this is all playing out true to form. historically, september and early part of october are very weak, and you throw in august if you want to as well. and hen you get to that 6-month time frame between november and april, that's historically do our time frame of year. but we've got issues, and we've got a a lot of lines in the sand that we need to overcome. first of all, the nasdaq and s&p both are sitting right at or below the 200-day moving average. the rally yesterday looked good, but there wasn't much volume. earnings beats are barely being rewarded, earnings misses are being massacred. we've got a new speaker of the house, is that going to be a budget battle in the fourth q

joining us is morgan stanley senior vp of investments, jim lacamp.you telling your clients? >> the stage is set for a short-term rally. we're bouncing off support on the s&p 500. right around 4200. we've done that all week. seasonally we're in the -- entering strongest time period of the month -- of the year, really. mid-october through late january. especially in years where the market's already up. in the last 56 times that the market's been up 10% on the year or more, as we enter this time frame, we went up 48 of those times. and with the market oversold, a lot of hedge funds have sold off, a lot of liquidity in the market, we're setting the stage for a bounce. if you look at the chart on big cap tech leaders, they haven't been going down. even though the market is down five of the last six weeks. i think we have a fourth quarter rally. we have a lot of problems out there. first of all, the jobs number today, don't believe them at all. bls has been wrong all year. they revised every single number down. what good are -- >> they revised the last two