peter boockvar says maybe not so. we'll get to peter in just a moment. but we've been noticing -- hi, peter. >> hi. >> well two, names come to mind. >> here on the desk first. >> 25 today, new 52-week high. we've been on that forever it seems like since basically jon and i were in vegas in august. it's really hard to get on board now. frankly, now is the if you're in you should be buying put protection like pete says. if you don't want to do that now is the time probably not to get in. ubs just recently downgraded the stock but raised their price target from 20 to 24. so it's all about right now. tiffany "uss a name we talked about since it was trading 42. that went north of 50 today. again, it's sort of that barbell retail trade that probably is a little long tooth but tiffany's is the name i like out of all of them. >> oppenheimer today upgrading their market exposure to consumer discretionary the large cap as well as the small cap consumer discretionary. and joe, you're out now of that short. >> you're killing me, guys. i'm officially out. o'so consum

let's bring in our good friend, peter boockvar of miller tabak, a "fast money" contributor. peter, was today the start of something bigger as far as you're concerned? >> well, i think the rise in interest rates that gary alluded to earlier is going to be the thing that stops this market cold. we saw the rise in rates on friday. we saw it again on monday. the market looked at it as the glass being half full because that means the economy's better, rates are higher. that's okay. but rates are not moving higher just because the economy's okay. they're moving higher because of excess supply that is beginning to spook the market notwithstanding today's auction. >> how much higher, though, do rates have to go to knock the market oust bed? the ten-year's going to fluctuate, first of all, it's down since you've been on. we had a great auction today. 3.75 to 4.25, maybe even 4.50 by the end of the year, but that's not going to knock markets down. if you look back at two of the biggest rate hike cycles by the fed in '94 and '59 and 2004 and 2005, i mean, the market rallied 5%, 6% durin