the vehicle, xlp >> my colleague and your former colleague and good friend herb greenberg always usedo say know what you own. it's so true you're buying five stocks. you think you've got good exposure you really don't what is the trade here, if any, on the consumer and the xlp? >> i think that's a really good point. actually, when you start taking a look at the sector, you recognize that the same thing that carried this whole group higher is a handful of names, then presumably it could cause some weakness for the sector overall. when we look at xlp, the etf, one of the things that you'll observe is that consumer staples are not typically high data, high volatility stocks when you group a bunch of them together, the volatility tends to be even lower that said, xlp has an implied volatility of about 20%. that's nearly double what it was at the tail end of last year we understand that given the current market conditions. this isn't exactly a high growing sector either. we take a look at the multiples. you might say in some areas 23 times earnings isn't that expensive, but for this sector