do you stay in the previously underloved names or do you rotate out? is what we saw today. today, as we saw, the sectors, defensive sectors make new highs and pull back. you know where we saw the most action. health care. do we start rotating into some of the unloved sectors? >> this year has been incredibly volatile and now we go back to the other side of the equation where you don't necessarily buy in. maybe you want to get defensive, i'm not sure, but i would say that you don't want to buy in at these levels. >> you want to sell? >> absolutely. i mean -- >> you want to short? >> yeah, if you want to be aggressive, short it, absolutely. that's a whole different game, but i think particularly here you've got a great risk/reward. use this week's high as a stopout, call it 2050. a good short opportunity. >> i want to know what i can buy. >> what can you buy? >> reversing the mean trades that are still in the early d days. i think a lot of commodity trades are still happening in emerging markets. i would not be necessarily jumping in tomorrow so this does get into the tactica

the stock is now leading it's '07 highs in the dust and this is an underloved, undertalked about name. they're transitioning from the types of businesses they said they would and they're getting much more toward health care, doubling down on aerospace and power systems and this is the type of stock that you want to own if the dollar strength continues to moderate. >> i wonder what you make of the goldman call today. no rate hikes in the first half of the year but three in the second half we think the run way, you think the run way has some length to it here but then, i'm not sure when you get later on into the year. >> you have a contentious presidential election coming up. you have a significant conversation once you get into the summer regarding the global economy itself. it gets a free pass because of all the easy monetary policy but you're going to get some traction and growth going forward whether it's in europe or whether it is in the emerging markets. >> does have the fed have the guts to go after it and do this as you get past september into the election? >> it would have to b