quincy crosby and anthony chan from chase, michael guyette from pension partners and winner, by the way, of the 2014 dell aware and samir samano and jim lacamp from ubs and gordon charlotte from rosenblatt securities gives us a traders eeye view. gordon, what's going on and let's take it back a few days beyond that? you know, this selloff is accelerating, if anything else. why? >> aksccelerated through friday and into the morning, bill, but, you know, almost get a sense that maybe we're starting to stabilize a little bit certainly off of the dead lows from a couple hours ago. we're sort of in no-man's-land until we get to earnings season, and i think what you see generally is a little bit of a risk-off situation, and you were talking about that, kelly talking about it before with the ten-year. the rubber meets the road when earnings comes out and we'll see what this market has. >> michael, how are you positioning? rotating into value along with it seems the rest of the market? >> we actually rotate it had to treasuries. bill, you mentioned defensive plays. mother of all defensive sector