 The stock market rallying to new highs here now is John Eade president of Argus research are at John So we just came two points away from 2,500 in the S&P 500 So we can't bring out those hats just yet But what do you think is this just a symptom of continued liquidity from central banks just sort of flooding the system? Well, that certainly is a factor Scott, but also we've got better economic growth Then we've had over the past six months plus corporate earnings are Growing at a double-digit pace was just good. And if you look at the dollar It's been trending lower And I think that sets up for a couple of good earnings seasons in the third quarter and fourth quarter and out into 2018 so there's reasons for this rally, so I shouldn't be the cynical to say it's all just because of the Fed Well, I think you you raise a point that there are risks out there And in fact, we think we're closer to the end of this bull market Then we are to the beginning and once we cycle through this up earnings period. Well Investors may want to start thinking more cautiously or defensively. So if I'm a long-term investor, maybe I have some ETFs, right? I mean, should I be worried or should I even be watching these record highs? I mean, what kind of investors should be cautious right now? well, I You know, certainly somebody who who is going to need funds over the next two or three years You probably want to reduce your exposure to stocks and particularly to high multiple stocks Those could be at risk if interest rates rise or if earnings miss But you know not not moving everything to cash just kind of at the margin Maybe selling off some of the winners and slightly reducing Allocation equities in a portfolio now so far this year buying on the dips, right? And we've only had a few of them this year that's proven to be a good strategy But when we hear North Korea say they want to turn the US into ashes and darkness I mean, you know, they've said things before bombastic things But how do you grapple with rhetoric like that? Well, you know, certainly the White House has a number of tools. They've got diplomacy they've got sanctions they've got You know partners nations who we're working with plus they've got the knowledge that you know, North Korea doesn't quite have everything They say they have just yet. So I think the risk is You know the markets keep going higher and then there is some kind of geopolitical event the US isn't ashes But when the market is priced for perfection and and you have that kind of development You see a pretty sharp sell-off So if you believe that earnings growth is going to continue, you know We have low inflation the feds going to kind of continue to just support the markets What sectors would you ride for the remainder of the year to kind of capitalize on those themes? Well? You know the consumer remains pretty strong unemployment is very low house prices are moving higher So I'd look at some consumer stocks and and also in health care. There's quite a R&D Renaissance going on right now with important products coming out for diseases like cancer I think that's another area where there's good growth too. All right, Johnny. We'll leave it there. Thanks so much as always Okay, thank you Scott. All right. I'm Scott Gamm and you're watching the street