i think there is a question now as she tries to lead the way on capitol hill, ifat is going to be enoughfor some people in a progressive lien on the party. but, i definitely think she is on the shortlist. >> ron, i would like to turn to you, and talk about the tulsa rally, actually, that is happening tomorrow. president trump is planning to have this big rally, despite fears vi the coros and an outbreak. i am curious about why you think it is so important for him to ha an impressi rally, when he is a master of getting his message out through social media, and through the airwaves. >> first of all he loves of these raies, they are fun for him. they energize him, they make hihefeel the way wants to a feel, asnational leader and as a candidate for reelection. secondly, he sees them as some kind of a unter narrative, to what were otherwise heard about his prospectswhich are series of polls going against the president. he has fallen from his highs inf march to some the lowest numbers of his presidency, some of his approval polls are below 40, that is a real danger zone for an incumbent presid

but over the weekend, i was reading about the fed model, ifating around an idea that you use the fed model, equities could march higher than where they are right now. that is a note in the midst of some of the optimism, that catches my attention. romaine: jack, let's pick up where taylor left off, specifically around this idea of how you evaluate market and whether some of the core metrics for valuation really matter in the timeframe we are in. into this next earnings season really paying attention to some of those more traditional metrics? jack: i think some of those more traditional metrics make sense still as long as you compare them to other metrics. i don't know if the core price to earnings ratio on the s&p 500 tells me a whole lot at a moment. you also have an earnings number that has completely fallen apart as a result of this unique environment. can we actually think about valuations as a standalone right now as a particularly useful guide? towe compare large-cap small-cap valuations, that starts to tell a little bit more of a story. isbe the fed is there and it implicitly s