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gerri: here to weigh in teddy weisberg, founder of seaport securities. teddy, great to have you here. thanks for coming in. you know the markets very, very well. is it an uneven playing field for individual investors? is the market riged? >> well i don't know if rigged is the right word but yes there is an uneven playing field. gerri, the problem in my opinion is not high frequency trading. the problem is, how the government, the sec and congress, changed the landscape for how stocks trade. so this group of traders called high frequency traders have simply filled a vacuum. financial times publish adler that i wrote to them in september of 2010 on this very topic. i'm not the only person who has spoken to the problems created by reg mns. the government simply taken kind of a deaf ear to making any changes. >> make the point that the government opened the door to this kind of trading because they changed rules how people could trade in case of short sales in particular? >> right. gerri: suddenly these guys could charge through the door, they also changed t

jason weisberg of seaport securities, adam, noted that. probably just a blip here and you start to see a bounceback. >> tough to watch. nicole, thank you very much. appreciate it. adam: continuing to follow the news out of ukraine, the country's acting president is speaking out clliming russian forces in crimea continue to grow in size. as e.u. leaders call an emergency summit in brussels for thursday to discuss the growing problems. fox news radio jessica guller is down on the ground in ukraine. she joins us with the very latest. >> russian speaking troops are basically taken an infantry base not far from where i'm staying. they surrounded the troops, told us you're with us or against us. if not we'll hold you hostage. ukrainian soldiers have been also, we understand the head of ukraine's navy surrendered after his second day on the job. he is now being tried for treason because, ukraine says that obviously he has betrayed his country. the coast guard has moved its fleet from their ports here in crimea, out to the black sea, although kiev

i want to go to trader teddy weisberg at new york stock exchange to see how they are reacting to this. the market is slipping a little more right now. what is the mood like? >> it is a kind of a disappointing day, melissa. we started on the plus side. gave that away pretty quick and we're now trading near session lows, off a little more than that but down 180 points, pretty much at session lows. concerns out of europe. concerns about china. with the stock market that pretty much is priced to perfection, doesn't leave a lot of room for error. melissa: no, it doesn't. look at different e 6 emails making round crossing trader desks, one that stand out is china. the idea that we're suspicious of numbers coming out in terms of growth. now more than ever, seems like we could have been greatly overestimating the power of china and how big the growth is there. right? >> yes. i mean, that is pretty sobering. you know you tend to rely on these numbers but let's not forget, we shouldn't point fingers when we live in the glass house. even our numbers, are from time to time revised upwards and dow

even teddy weisberg sometimes is afraid to do that but you've got a number is so specific. you think the s&p will be at 1938 at the end of the year. >> yes. david: where did you get the number? >> well it is from using ourour estimate from what the s&p 500 companies are going to earn this year and that is $114. you multiply that by the multiple that we think is reasonable which is 17. and you come up with 1938. i know it's a little goofy but is that where the market is going to be? i don't know. we think that is what a fair value for the market is going to be. maybe there is a little different semantics there for you but that is fair value for us. david: todd, do you have a number? >> on the upside i don't disagree we could not get there but i'm looking for 1560 on the downside first. david: wow, on the downside. todd, i agree with a lot of what you say this looking to be frothy market, et cetera, but it can't be said enough how tight the balance sheets of most corporation are right now. they have really slimmed down. both their debt and personnel to levels that i have neve