let's bring in jeremy siegel. professor, it's great to see you today.f setting this up as you having a different market call. you want to explain what's going on? you've been very bullish for a long time but you do sound more skeptical at this point. what your thinking? >> let's take a look at what happened. even i've been surprised in how rapid the markets come back. but in january and early february there were two major negative forces on the market. one was the total collapse of oil prices. down to 26. the second was a threat, a very real threat of a big devaluation from china which could set off a currency war in the far east. now look what's happened justin last s -- just in the last four weeks. oil is above 40 and china punished the hedge funds with a clam dunk. we'll ride the yuan downward, put a million dollars and they said no you're not going to tell us what our currency is. those two deflationary forces have spadissipated that. this week the fed i thought being much more dovish than i think the market expected. so now looking forward, if it w

let's bring in david seaberg and jeremy siegel. guys, good to speak with you.rofessor, you are known to be a bull and you sort of walked it back because last november you said that dow 20,000 was a real possibility. february you said, i have to revise that. now you say dow 19,000 by the end of the year. what's changed and has the factors disis sy pated in the first quarter? >> well, i think 19,000 is still possible by the year end but i think we're going to be in a range from 17,000 to 18,000. i really want to see the earnings increase. i mean, we had a very severe earnings recession last year and when we had the deflationary forces of crashing oil prices, you know, we were worried about a chinese devaluation and that produced the panic that we saw in late january and early february. now, those two worries are very much alleviated now. i mean, oil is back to 40, seems to have found some sort of a base there. china's actually appreciating its currency lather than devaluing its currency so those deep fears of deflation which weighed so much on the market have bee