that's a smart paererson's game. when you see the sort of volatility in the mid to high 50s this is not great volatility. the ranges we had after a 50% drop over 5 months so i think you have to be careful with energy stocks right here. >> we saw energy move and materials move sharply but then also some of the higher beta areas like technology when we saw the markets rip they ripped even more. >> probably because that was the only place people figured if you were going to get high beta you could go. that was the place to go. as far as energy is concerned it's interesting because a lot of the equities have been very hard hit but some of the fixed income side may not have been hit hard enough yet. i think we have seen the rate counts drop and a lot of things that suggest the energy space is starting to contract but i don't know that it's necessarily contracted enough. if crude doesn't rally significantly from here that's not a spot with any earnings at all. >> we have the chart master at the smart board. let's go to you