select sector index that underpins it and take a look at valuations, now, carter has often told us va valuations are not a good timing tool and i think that they aren't i think we need a context here price to earnings 22-year highs. whether we're looking at free cash flow debt, whether this is trailing or forward looking, doesn't matter it's essentially at all-time highs. some we're looking at cyclical stocks sometimes though can be contrary from my perspective this does seem a little bit too far, too fast maybe even a lot too far too fast i was looking out to june at the 76, 70 put spread. now xlu and the constituent stocks that are utilities are not super high volatilities. but you'll notice you're actually collecting about a third of the premium -- of the money we're spending on the 76, collecting it on the 70s and that's the reason why i'm looking at a spread. the other thing is it's essentially from that 70 level that we really broke out so to me i think that's sort of the level i'd be targeting in the near-term. in this case we're talking about a little over two months and i think this is

va valuations have come down. we are standing at 20 times on a board 12-month basis for the s&p.e you can still have that premium even if interest rates are going up at the end of the day, brian, yields are still negative. >> they are. that's the key the number we show on the screen is not the real yield when you factor in inflation. the yield curve is mildly inverted on the real basis, it is not i know that is wonky at 5:56 you have to understand the real yields are not inverted. we have about ten seconds. give us one area of the market you like, lindsey? >> i'm looking at consumer discre discretionary. there are parts that have been significantly beaten up that i think are unwarranted. it has been left behind because of all of the things we talked about. interest rates going up and impacting credit and also higher inflation imp mpacting wallets >> i don't know if it is you i'm getting things in the mail that are we will loan you money for 20 years at 6.99%. you're welcome from the credit card companies rip. right in the garbage lindsey bell a great and long segment lindsey, tha