we have bryan piskorowski, who is wells fargo says time to rebalance. chris necessary letter, has three ways to play a pullback. sandy smith is here. mash sebastian from the cme. mark, let's start with this question, is this market now oversold? >> it is interesting. we were, you guys were talking about the fact that s&p picked up a little bit yesterday, the dow picked up a little bit yesterday. one index that absolutely got plastered and gave everything it made yesterday, the vix, volatility index. what you think about the vix is cost of insurance. how much it costs to hedge a portfolio. on a day where the vix, where the s&p sold off 40 points the vix rallied three points, so a little over 21. on a day where we picked up 13, they gave all of that back. traders are basically saying, you know what? we don't need lots of insurance here. these selloffs have been orderly. if you sold out in the morning you missed most of the real trouble. it doesn't look like the market thinks there is a huge risk of us taking a massive, massive dive lower. so, is the marke