heather hughes from sun america funds is with us today. so is bill mcveil from the turner small cap growth fund. john smith from d.t. investment parters and our own rick santelli. welcome to everybody. heather hughes, we talk about this change in tone of the market. we've really felt in the last week or so the momentum stocks are going down. technology is taking a hit. even as the blue chips were going higher. what's going on? is there a rotation going on or what are you sensing here? >> yes. you're right. it's very interesting that the advisers we work with were saying look at the cyclical growth plays in industrials -- or technology, biotech got crushed yesterday. we're not seeing that happen. investors are going back to the large cap value. those dividend grower names. if there is such a thing as a safe haven asset class aside from bonds, they're looking at those blue chips again. it worked the first half of this year. i didn't think i would be saying it again. that's where we are today. >> bill mcvail, what about you? in terms of small

. >> joining me now, heather hughes from sunamerica funds. dick burr ij. zachary carabel from river twice research. our own mandy drurry. good to see everybody. mandy, let me kick this off with you. gold climbing today on the heels of the yellen commentary. what was your take? >> gold liked what yellen had to say. basically as bob was saying it's going to be qe continued. still too early to pull the plug. all of those comments put together was making a good day for gold. you mo whknow what, maria? gold has had a pretty tough year. also you had today the world gold council coming out and saying demand is around four year lows. it cut its gold forecast for india. really big consumer of the yellow stuff. and yet all despite that gold latching on to what yellen had to say. i would put this out, maria. if indeed equities also feel that yellen's commentary, and hopefully it stands going forward, if equities also feel that's positive for them, that could also be bearish for gold, right? gold in the past has been sort of an alternative to equities in terms of a sa

heather hughes, renee nourse and jim lowell. we're going into probably the most important holiday season -- most important time of the year for retailers. seeing some of these numbers come out, it has been mixed at best. renee, does that tell you anything about the fundamental story out there? putting interest rates at rock bottom levels aside. >> i do think, maria, at this point that we're seeing that big divide between the low end of the market and the high end of the market. so there's more upside as far as some of the luxury retailers still are concerned. not so much now, i think, in that middle market area because they've not really been able in a lot of instances to clearly define their business market, their marketplace in general. i do think that there's still some upside there. >> all right. we want to keep getting these earnings out fast and furious here. stick around. stay right here, everybody. we want to get to julia boorstin. pan dor dora is out. julia, what can you tell us? >> that's right. pandora's earnings per

joining us now on our "closing bell exchange" to talk more about investing, heather hughes from sunamerica. john doyle. keith fitzgerald. good to see everybody. thank you so much for joining us. >> thank you. >> john, let me kick it off with you. would you buy into this rally right here? very strong day. broad based rally. you want to put new money to work? you think this goes higher going into year end? >> i think the fed has been giving us a little mixed signal. i think moving forward we're going to be looking at a very accommodative environment for a number of months. we don't think that tapering is going to happen in december. we're looking at at least march if not later. i think that buying into this rally is not a bad idea at all. >> heather, you're looking all the way to january at this point. which is not that far away. you think we'll see a change in the market tone at that point. why? >> well, tone and as far as change in the markets, i guess we grind higher over the next month. if we did taper in january. but then again, as you and maria went over, yesterday we might taper 6.5%