we welcome kevin mon, bill nichols, and our own rick santelli. kevin, you acknowledge that this has been a market that's been led higher by the defensive sarcastic for the most part. do you stay with that group as we continue higher here? what do you do here? >> i think that's been one of the untold stories of the market rally of 2013 thus far. just looking at morning star, the leading sectors year-to-date have been consumer defensive, health care, utilities, and perhaps the biggest gainer thus far has been real estate. while we've seen some momentum in recent days in technology and financials, those defensive sectors are still holding their ground. >> so bill nichols, what are you seeing from the trade desk standpoint? are you still seeing the conviction on the buy side here? who is it that's fueling this market? institutions? >> well, maria, i think it's a little bit of a seller's strike. people that want to sell stocks, they are not rewarded. if you sold stocks a couple months ago, you're looking at these prices and saying, what am i doing? th

bill nichols, you agree with that? how are you allocating capital? >> i agree with that as well. at the end of the day, with this wig market move to the upside, there's no reason to change the formula. people are looking for yield, get a little stock performance on top of that, that's going to be a formula for success. >> so do you want to be putting new money to work right here? >> i'd a little cautious short-term. a little bit overbought. you know, rsis on both the nasdaq and s&p are at 74, 75. if you're looking at it over the next couple of weeks, pimight g a better entry point. >> ron insana, valuations, you've got to look at them as attractive still. talking about a 16 pe, right? >> maybe a 16 pe, maria. because revenue and earnings estimates are going up on a going-forward basis. and so we may be overbought in technical terms, not only the rsi, but we're trending at the very top end, so we can be overbought, but not overvalued. we need a new book called "tuesdays with money." and then maybe we're due for some sort of pullback. right now it's a hated secular bull market. not

bill that the president and the senate negotiated back in 2009. we would very much like to see action on that in the u.s. senate. mr. nichols. >> as the president believed the relationship with congress is fixable or does he think things have reached the point where confidence and between the two has broken down, and is that largely the fault of the republicans? i think that the president believes the attorney-general is doing a good job and the president has confidence in the attorney general. there are a variety of matters that fall under the umbrella of the question. the president is committed and has made clear to every member of his cabinet and every member of his team that we cooperate with legitimate congressional and will continue to be the case. it is also true that depending on the issues that there are some time attempt to politicize matters that in the president's view should not be politicized but should be focused on by both parties when there is a problem that needs to be fixed. that is the president's focus. >> the president is going to chicago to do some fund raising. -- is it aabout when good use of the pr