jeff korznick, and mike santoli of yahoo! finances. cyprus doesn't matter? >> no. this is an anomaly of a situation. it doesn't mirror what's going to happen in the u.s. or really anywhere else in europe. and so i think that the market is really viewing this as an anomaly of a situation and it doesn't seem like anyone really cares. >> what's your take? >> i'm with carol. we're going to shrug this off as well. the gdp of cyprus is roughly the same as boise, idaho. it's not a huge risk for the markets overall. >> i guess the bigger issue is, are the headlines coming out of cyprus a recipe for other economies in terms of that whole business, in terms of taxing depositors, and we know that we continue to have issues in terms of the debt crisis. we are not, necessarily, seeing solutions there. >> i think you see -- if that fear were true, you would see it reflected in the peripheral european countries. i think they mark scyprus as a special case. >> mark, how are you investing at this point? you've got $54 million under management there. you've been bullish. do you want

mike santoli. rick santelli and mike santoli. >> never happened before. >> and barbara morrison.to run a tape when you could have done that for us live with some personality. >> honestly, i don't understand it either. >> tv i think. maybe we wanted to show that cool camel hair coat you had on. >> you know, the tricks of tv producers are endless. and i don't know what the reason was they did it that way. >> i do like the camel hair. >> i can repeat it right now. >> i think it's worth it to show how good you look in that thing. it's weird, john, when we -- you know, we do talk a lot about the intersection of politics and business because it's been all the talk b. now we have the supreme court and gay marriage. i don't even think i want to weigh it in necessarily to any of that. so let's focus on the things that, you know, are our bread and butter. will there be a grand bargain? they ate some meals together, broke some bread e. will there be talk the next three months? i think that would help the market if there were. >> joe, i have consistently been overoptimistic thinking that all

mike santoli is certainly wondering what all of this means today. welcome with yahoo! finance, of course, senior columnist we don't want to short change you at all so you've heard the conversation that we've had here with liesman what's your read on what this report today means for the rally. >> i think there's been an outbreak of rationality here so i don't think i have a lot of opposition to what steve just said. honestly i really feel as if the market is going to be too early in starting to worry about these things. and i think we got a hint of that a couple of weeks ago when you did hear those voices. so i feel as if we're not going to have to -- we're not going to take the market's first view but it's going to be a head fake because the fed wants to get a little bit less gene russ here. i would point out one year ago today, 364 days ago we were looking at a third straight month of 200 plus in the payrolls we thought that that meant the treasuries sold off we actually peaked at about 2.4% on the ten year, in march of last year, so we've kind of been there before. i

finance's mike santoli joins us. why are we betting on the bears?> i see this set-up as an incomplete corrective pullback process. joe spoke earlier about how you're seeing defensive bond-like stocks lead. the treasury yields haven't lifted to give you that green light. and all the kind of risky appetite barometers are not really telling you we're off to the races again. that's why i'm skeptical of it up and away from here. >> what sector do you think is going to be the tail? >> financials. i think they are the core at the moment here. they obviously were a leadership group. a lot of bullishness surrounding them. and then the pullbacks in the capital market, sensitive names like goldman and morgan stanley, in goldman's case especially, probably you'd love to see another opportunity lower to pick up more. i think you have to see them start to lead. happened intraday today and you got a rally off of that. i'm cognizant of the fact that the whole story for why the market should work this year, if you're a bull, it really hinges on things that should be

with me right now is michael yoeshcommie, peter anderson, mike santoly, and our own rick santelli. gentleman, good to have you on the program. thank you so much for joining us. michael, let me kick this off with you, as we await to see whether or not this market makes an all-time high. whatever happens in the next couple of moments, you have to feel like this is a victory, given the fact that we have already seen seven days of gains and this market still wont quit. >> yeah, absolutely. but i think you ought to not get too euphoric here. the market is rallying on lots of expectation that the news is going to continue to be positive. i think right now, you need to start taking some profit, rotate out of some stocks. cash out some of the positions that have rallied. we recently cashed out a bit of costco, a bit of baxter. we think it makes sense to take some money off the table. let's see what happens over the next 90 days or so. >> and if you're taking money off the table, where do you want to put it? just raising cash? >> it's partially cash, but also moving into other assets that a

s mike santoli. and we have expert standing by to share their insights including s&p's david blitzer. omega advisadviser's chairman a see, leo cooperman. head of equity strategy, barry knapp, black rock's chief strategist ross, strates, and howard ward of growth equities. for february, you have the adp report sit to hit the tape at 8:15 eastern time. first, andrews has the top headlines. >>> venezuelan president chavez has died after a battle with cancer. little reaction in the oil market. chavez oversaw a decline in oil production during his 14 years as the leader of venezuela. analysts don't expect that trend to change immediately. michelle caruso cabrera is going to be joining us in the next half-hour to talk about all this and what it means. >>> in corporate news, e.u. regulators set to hit microsoft with a hefty fine today. the antitrust chief in europe will be saying that the company broke a promise to offer consumers using its windows system a choice of rival internet browsers. didn't that deb

. >> mike santoli said it feels like the culmination of a move opposed to a new move.aid. a lot of us had the feeling of, you know, they want the new highs. they talk about the new highs. we all speculate. okay. there you are. you got it. okay? are you happy now? right. >> are you happy now? >> well, happy might be too strong an adjective. i'm appreciative. you always want to do that. again, we want to see how this conversation works out. around the kitchen tables and dining room tables, people have got to be talking about, okay, we were very nervous about the market as maybe we should have been looking at certainly the macro, the big picture but stocks moved up, so march, should we get in or not? we'll know the answer to that discussion in probably two weeks to a month. >> right. you said yesterday that's going to happen over the course of several weeks. art, thanks a lot. >> my pleasure. >> macy's and jcpenney fights out over the martha stewart situation. >> it's terribly important we don't lose a case like this. this is a very important case. in fact, we really want