renee haugerud, you are in the commodities world, but you are a macro person. se things investors are doing. what do you think? ms. haugerud: we agree with them. we think we are at the precipice of a big rotation. in fact, we have been selling into rallies on a macro level. that is not what we do. we are not an equity trader, but as an overlay with commodities, we have been selling into rallies. there is the possibility of one more -- i have a technical system, a proprietary technical model, and it is signaling 1600 to 1800 on the s&p over the next 12 to 18 months, but we could have one more blow up to 2180. i do not think that will happen, but that would suck the last bulls in, and we think we are in a rotation right now, but we agree with reducing current equity holdings. stephanie: is it getting harder and harder to be a macro person? now that there is so much information out there and everyone has it at the same rapid pace, how much harder has it become? it is really interesting. this has been one of my most difficult years, year-and-a-half of really getting