kenny polcari joins me from i cap. are taking your head there. >> if market closed down what are we talking about, down a quarter percent is not closing down s it negative? of course it is negative but wouldn't look for anyone to get nervous the market seems to be churning this 1450 level trying to build a base which i think will let in it move higher into the end of this month. >> why higher? >> because we are coming to quarter end, i think a lot of churning and shuffling as portfolio managers adjust, upward pressure to that next, nonfarm pay rolls, next friday, thank you a lot of anticipation into that. then, you know, the presidential election next week, certainly got the u.n. this week. the common side of placer, bernanke saying rates throw 2015. placer saying not sure. half the fed came out said they were against qe 3. why can't people say hang on a minute, particularly that, let's book profits, sell now and the market goes low? why do you insist the market goes higher? >> i just think it is building a base here a

kenny polcari joins me, once again thank you for sharing your memories on this very poignant and sade do appreciate it. >> thank you. >> transition me to the market where we are up 92 points. >> right. i think what the market is telling you, expecting good news out of germany tomorrow, the germans are going to at least support it, may be restrictions around it but the basic part is that they will there will be some clarity finally and if germany supports it then the plan can go forward. whether or not the country is coming out will be another issue, they are there if it happens. >> some of the things the market is telling me are a few mixed signals, the gold market is moving higher, we had record demand in the three-year note auction today ahead of the fed meeting what does the fed do? >> i think what the fed is going to do they are going to come out and do more job money. i do not think they will come out and launch another program. here is the thing, i think the fed is very worried about what is going to happen in january, if the legislate ers doment do something about it the fed w