we have david lutz, still nicholas managing director. he will tell us the top places to put your money right now, and lincoln ellis in the pits of the cme. lincoln, start with you. a little bit of retrenchment to the downside at the last second of the markets. tell us what the real feel in the pits today as we look at the last month ever trade. >> david hit it on the head and it is risk reversal. if you see equities sell off on good news, that is one piece of the puzzle. two, small caps outperforming to the downside veries is large caps that is a key trader risk reversal. three, when you see people squaring up or not squaring up actually on the close like we saw behind us in the pits you really get a sense normally on the first day of trading you get stocks higher with new money coming in from 401(k)s with that kind of buying. when you don't have that positive momentum it, could be further downside in weeks ahead. david: david, we have to remember, december is usually a terrific month for a market particularly if it had a good year. howe

joining us is jim paulson from wells capital management, david lutz, jim, i imagine you hoped a taperwednesday just for the sake of not having to deal with when will the feds taper questions anymore? >> yes, i do. i think it's been long overdue in my book and the data has been there for a while to at least at a minimum suggest that maybe we should ease less aggressively. that's the only decision that has to be made. not like we're going to tighten right away. ease less aggressively when the unemployment rates drop 3 percentage points, back growing, when the global economy is arguably the broadest and most synchronized it's been. i'm hoping they'll taper and if it's a controlled taper, methodical slow taper i think the markets will be fine with it and actually will probably go higher in the early part of next year. >> to that point, is it possible by taking away the uncertainty factor by giving us a taper this week, it would actually be a positive for the market? is that a possible scenario? >> absolutely, mandy. at the end of the day, the market does not like uncertainty. it can handl