at tdameritrade. you have gold down. >> right. >> it's not big fear and risk reversal, what is happening here? >> bob just touched on some of it. people at the end of the quarter kind of rolled over their portfolios a little bit and some of the things they rolled over, like we saw a lot of our investors selling things like apple at the end of the quarter, with that, people are kind of looking for what's next. the momentum stocks have been out of favor with that. one of the things we do have to look at, the s&p 500 close above 1850. we're right there today. we could use a little bit of bounce at the end of the day. the fix isn't running away. i think it's part of the natural cycle. >> it feels like there are two camps here. those saying, i'm losing money here, we're moving downwards. others are saying, great, i've been waiting for this pullback to put fresh money to work. >> it's really easy to sit back on the sidelines and look at the large investors that have been there saying, i'm not putting new mi