todd horowitz joins us from the cme. todd, what is spooking the market. >> hi david. hi, cheryl. you know just a little bit of profit-taking. there is nobody around. volume has been fairly light. you have a little profit-taking and market got on a roll to the downside. all we did was wipe out friday's gains. we're on a little bit of a downtrend from the upper level of 1810. other than that the markets are very quietly going down here. david: guys, before you to any further, i want you all to know that hilton ip off the, we finally had a price put on those share prices, on those shares. $20 a share. that is what they're pricing. pricing on ipo has been very, very awkward at various moments over the past year particularly with facebook and other ipos issued. how does that strike you, todd as a price target for hilton? >> i think it is fair. listen, we're in a position, one of the things in the market, we're having some ipos and they're always trying to one up the one before. i think it is probably fair. and it will probably open higher. it will open higher. cheryl: okay. he thinks