s&p during this period. >> i will coin this the tom petty market. to steve's excellent point, the waiting has been the hardest part. everybody has been waiting for this. we have now got it. will the losers get lucky sometimes? are we going to end the year higher? is this a buying opportunity? >> well, i agree with steve, it is from here. i guess my whole thesis is we will have a really volatile year but it's roughly going to end up flat where it started. that said, i think we've gone down from where we started. i think we might go up during the year, too. we might get as high as 2,000 sometime this year. i think we might come back down to where we started the year. i think it will be kind of a frustrating year because you won't be able to time it all right. i really think that the driving force here is not the fed tapering. we have known about that since last year. it's certainly not slowed down in the emerging world. that's been going on for two years. i think it's questioning whether or not the u.s. has lost momentum. i suspect that the weeks repo

it comes to the deficit.m%#bÑ s so i was surprised the white house have been as aggressive as they have been trying to push back on the cbo on this. they look now as pettyt respecting them as this fair arbitrator and at the end of the day, they seem to be we don't have many fair arbitrators in washington and they seem be the fairest on this. what i take away from this is you're not -- had the cbo came in with a fairly neutral, they said it was going to be fairly neutral or not confirming one of the main criticisms that republicans were having in the minimum wage that boehner would have punted on this and that this would have actually gotten through this spring that we have seen a minimum wage incr5q6&e now i'm pretty convinced republicans are going to say, cbo says this is going to be job killer, we are not going to do it for the $10 an hour. the question i have is do democrats come back and say let's do it at $9 and move it up not as high as 10 but go to nine. on that the cbo is saying that would be close to neutral having so i'm curious to see if democrats now alter their strategy a little bit and bring down their -- >> i have a theory, tina. cbs said