gene kernan is with us, president at macro risk advisers along with thomas lee, chief u.s. equity strategist with jpmorgan. glad to have you in person, tom. usually, we see you remote when you're on your trading desk at jpmorgan. so let's talk about what is behind this move. some people say look, this is a lot of short covering. you don't see that. you don't see that on the december snk. >> we haven't seen evidence of short covering. >> yeah, this has been a synthetic short position because people are -- we're seeing that money put to work. today's been a very big volume day. so it's been very good. and if there was short covering, we would see the russell outperform because the russell is more heavily shorted than the s&p and the russell's barely keeping up. so we don't really have evidence of short covering. >> do you agree with that? because if it's not short covering, that means it's actual commitments to put money to work in stocks and perhaps money coming off the sidelines, which we know was sort of waiting there for a place to go. >> a bit of a -- fear of missing out

here is sonia thomas, the black widow taking part. also germantown's juliet lee taking part.id he having champ joey chestnut took the title beating kobayashi on the right. chestnut downed 68 hot dogs in 10 minutes. kobayashi ate 64. >> why? why? >> because somebody had to win. >> okay. >>> also in new york, lady liberty's crown reopened to visitors on the 4th. it had been closed since just after september 11th. this is a tough ticket to get. these tickets are actually sold out through november. ♪ what you want, baby, i got it &&. >> aretha franklin wowing the crowd on the west lawn over the weekend for a capital 4th. the fireworks weren't bad either and neither was the weather. >> the weather was fantastic. you were down there? >> not exactly but from where -- i was close enough to where i could see them. >> it was the first time i was up on a rooftop watching the fireworks. so you see the fireworks over the wall and you look on the horizon and you see probably at least 0 different fireworks shows all across the imrear from maryland through virginia. it was just unbelievable.

lee thornton, leonard patrick gonzales jr. also his father, leonard patrick gonzales sr., and wayne thomas coldiron.so a 16-year-old was arrested. detectives say the hunt is on for at least one more person. the prosecutor says all seven suspects will be charged with first-degree murder and we expect at any moment, any moment, another conference with more information because it seems like there is something new literally every moment. also, three of those suspects made an appearance in court this afternoon. leonard patrick gonzales sr., frederick lee thornton, and gary lamont sumner are being held without bond and will be formally charged on august 6th. just to remind you now, byrd and melanie billings cared for 17 kids, many adopted with special needs. the couple's funeral is set for friday and, again, as soon as we get more information from the live press conference we'll take you there. >>> a daring los angeles police chase nends two arrests. police suspected the young man was driving a stolen lexus suv. our affiliate ktla tells us what happened when they tried to pull the guy over. >> reporter: l

thomas. nancy moodie who left henry moodie of williamsburg when she was only nine, a child just walked off the plantation. lee hamilton, she had been 8-years-old when she walked off, charlotte hammond left john hammond on the river in south carolina at 15 in 1776. as soon as they could go, we are talking about the first great upheaval, the first great exodus of african-americans in history, should we not know this? should our children not notice in their high school curriculum? per your neighbor, venus, who had gone with her one-year-old son from the river and so on. so we have these names, women's names because it is striking to have black women's history appear suddenly in this form. anyway, they're often over scotia -- how are we doing now? goodness. i should say a word about why so many tens of thousands of african-americans believe they might have better hope. many of them of course do also served. about the same number seem to be combat troops in one kind or another in the patriot army and then the british army but a larger number from the kind of a fan of the british army. 5,000 treated this the likabl

to great a job for her husband, the honorable lee on higgenbotham who had been democratic president would be on supreme court today instead of clarence thomas. pause to consider, how history would have been changed by, by that. then we hired, we stole cornel west from princeton and put a big red bow around william julius wilson. press called us the dream team. so we were hot. i turned to qwami and that is name, 1959 i said never be hotter than we are now. got to go for the encyclopedia. i tried all the publishers. tried random house, my trade publisher. they said they were interested in doing this. by this time i had become friends with quincy jones. he had give mean me $62,500 to prototype of encyclopedia. i got a match. random house said you had to do it on cd rom. i didn't know what a cd-rom was. ceo of random house which at time was 201 east 50th street on east side. big mirrored building. you can do it on cd-rom. of course i want to do it on cd-rom. why do you want to do it on cd-rom. in 1990 the encyclopedia britannica company, first edition of britannica, 1768, britannica made more profit it made since 1768. in 1991, young computer g

lee. >> caller: hello. thank you for taking my call. i am interested in the concept of shall we say fall from grace. there have been several books written lately about thomas jefferson that have portrayed him as really not so wonderful person. i wonder if you could comment on what you first of all opinion and then maybe what you know about this man and referring back to the kmishl question in this -- initial question in this hour. what was his motivation? thank you. i'll listen on the television. bye. >> guest: i'm a little uncertain -- was it about jefferson? >> host: it was about thomas jefferson and the concepts of falling from grace as we know more about these figures. >> guest: okay. i think what the caller probably is referring to is that it's now widely believed. i certainly believe it that jefferson had a long-term relationship, intimate relationship with one of his female slaves. sally. the story was around in the 19th century but historians just looked the other way and didn't give it credence and then in a biography a -- that appeared about 30-35 years ago by fawn brody called thomas jefferson an intimate history. she made a very persuasive case

lee simmons who holds an m.a. from the university of oxford. most recently, he is the author of a new book on greek and latin. his new book is entitled "thomas jefferson and classical education." [applause] >> thank you to the hauenstein center, and this conference has been about lessons and the lesson i am taking rain now is if you have as a speaker no audiovisual aids, do not follow someone who has. [laughter] lessons for president obama. i would like to start with a suggestion, which is he should get rid of the teleprompter. instead of having those awkward pieces of glass in front of him, instead, he should have this unit in front of the lectern two grecian of vases with shrubbery in them. [laughter] i would like to set aside my classical trading -- training for a bed, and talk about what has been touched in at these talks -- classical human some. let's look at one of the founders, thomas jefferson, who exemplified that ideal most perfectly. i always have to begin any talked about humanism by doing a little reformation on the word itself. we usually hear it today with that barnacle attached -- secular. it is always used pejoratively. i do