clifford davis is next. ♪ alec, for this mission i upgraded your smart pho. ♪ right.he most important feature of all is... the capital one puse eraser. i can rede the double miles i earned with my venture card to erase recent travel purchases. d with a few clicks, this mission never happened. uh, what's this button do? [ electricity zaps ] ♪ you requested backup? yes. yes i did. what's in yourallet? yes i did. at od, whatever business you're in, that's the business we're in with premium servicelike t on-time delivery records and a low claims ratio, we do atever it kes to make your business our business. od. helping the world keep promises. ♪ lou: let's take a quick look at the markets. the dow of 100 points. not bad. the s&p up 17. the nasdaq up 34 points. just a 52 week high. volume on the big board today, 3.5 million shares. the s&p and nasdaq both gaining just about 2%, four straight weeks of gains. consumer confidence rising at the highest level in almost six years. a gauge of future economic activity rising to a nearly five-year high. bloomberg applying former ib

joining us now is clifford davis. good to have you here. >> thank you for having me.me to be in your business. the market just keep going up. that is all i can tell you. the markets have no sign of easing. the only thing i would cauti investors is let's just think about the downsid something catches us off guard. keep that in your back pocket. lou: first of all, i want everyone very worried about this market. that usually ensures that we will have a significant amount of bears to give us some sort of equilibrium. one thing i am a little curious about is how someone gets bearish here. when you are looking at the bank of japan, you have a europe now the party in its own, while conservative fashion. the fed topping $85 billion a month into the system. who will get in front of that freight tra? >> i do not think anyone will get in front of that freight train. that is why you see these huge rallies. the nikkei index is up a ton this year. frankly, what we are seeing is huge foreiin flows coming into the market. the average will go up about 1000 points over the next year. y