here to discuss, paul hickey who's most at risk >> within the technology space among groups, software is one of the lower internationalrevenue exposures versus some of the other groups like semiconductors and tech hardware. admittedly, microsoft gets half i its revenues outside the u.s within the sector, tech has one of the most exposed sectors as far as international revenues are concerned. you know, so semis, again, have very high exposure we think software, there's other stocks that will be outliers you have inittuit and paycom. you've got to take it on a company by company basis here. and again, you know, what you were saying about microsoft and this isn't necessarily all new news we've been talking about it in conference calls we've heard this commentary go through in call after call it has accelerated to a degree but investors should be aware of this and ling the dollar as it happens. as the dollar goes up, it may hurt them, but as it goes down, that's something to look forward to on the other end. >> right there's always a flip side and the market seems to be somewhat taking th

we have erin gibbs, bespoke investment group's paul hickey. bespoke called this a feel good rally. how do we make that transition? a long ways from here? >> i think it is aways from here and you you have to get rid of some of the confusion in the market. there was a lot of confusion in the markets. last segment talking about jim bianco. fed policy, last hike of 75 basis points was decided on michigan sentiment report that was a couple hundred people that caused the fed to change policy affecting millions and hundreds of millions of people based on a few hundred peoples responses. two weeks later the survey was revised lower. >> like that friday never existed except some of that damage did in real lives. >> reaction, investors are looking at reactionary nature on the part of the federal reserve to headlines adjusting policy and then you have a energy policy in the u.s. which goes against the law of supply and demand we're pushing back on supply and trying to stimulate demand by lowering gas taxes and issuing gas cards to drivers. that kind of thing, investors look at that, say what

paul hickey is here to break down these crucial moments of the trading day, plus frank holland with and seema mody looking at the travel stocks it's been an up-and-down session for stocks, near the higher ending right now, paul what are you seeing in the market action? you always have a good handle on the stats and how this final hour of trade has been going what do you see today? >> well, today is a pretty big difference from the norm lately, sara, where we're actually sort of rallying into the close here, which is pretty shocking relative to what we've seen in recent weeks i think there's a general tone that's improved this week. we've gotten to such washed-out levels as far as market internals were coming into this week that i think the only direction for the market in the short term is higher whether or not that is -- lasts for more than a few days remains to be seen but there's generally these type of oversold extremes that we saw late last week and usually see at least a short term bounce as the markets revert to the mean as of last friday only 2% of stocks were above their 50-d