 No CP effect this show, right? We're slipping even more. I want to bring in, to discuss this market, Melissa Armo, Sox, Sush and Gary Calpom, Calpom, Capital Management President. Gary, let me start with you. You have been spot on about the markets and the vulnerability of the markets for a while now. What's your assessment? Because, post Christmas, rather, I've seen session after session where this market exhibited a lot of resolve where we've made amazing reversals to the upside, even yesterday's session. And it might have happened today, but the reaction to the ISM manufacturing report sort of shattered everything. What's the true message here in your mind? Well, look, the bear market playbook just continues to play out that we wrote up about four months ago, as well as the economic playbook that the markets were seeing slow downs. And now we're just hearing about serious slowdowns, not just across the globe, but here. So I think it continues. I think all that happened in the last five or six days is we dropped 4,268 Dow points and you're going to rally up some, you're going to drive up people crazy. But the Apple thing, you know, hit the wall. And may I just add one more thing, and you mentioned it earlier, this dude has it. Might as well have come out today and say, hey, institutional crowd that manages trillions of dollars, just sell because everybody's going to miss estimates. I don't know what the heck the White House is thinking, sending them out there to say that. Yeah, I'm so baffled and frustrated with it. I think they're going to win, be quiet, just win this thing, cut the deal and win it. But Melissa, you also have been, you know, really good on these violent swings and the retesting of certain levels and the market hasn't passed any of these tests so far. No, I really think technically speaking, looking at the market, we're still holding the uptrend. Well, in 2018, for me, we're still holding it now, okay, we're still holding it. What uptrend? We're in an uptrend in the market. And let me explain exactly what I mean, one and two year lows and everything around the globe. That has nothing to do with the fact that we're still holding the uptrend. Let me explain what I mean. Normally people look at percentages to say, correction, this and that. First of all, I don't look at that. But even if you did, it doesn't hold true in this environment. And here's why, 2017 was an anomaly year for the market because we had such a big move. We power trended up. So to say, well, a 20% pullback means that we've broken the trend wrong. Because we were parabolic and you don't necessarily count that. You count that as an anomaly and you go back. In other words, the uptrend you're looking at back goes back further. I'm looking at the whole market going back to 1999, which as long as I can go back in my charts. Even though we sold off in the last month, it doesn't mean the trend is broken. But how vulnerable would it be then to continue holding this uptrend? I mean, how much more downside do we have potentially and still could say in your book that we're an uptrend? We got quite of a bit downside. We could still go. And that's why last week we were talking about what would you buy? I wouldn't buy anything here yet because I don't think that necessarily we hold that low that we set at the end of 2018. What you're seeing here is weakness in the major movers in the market, which is like Apple. And so I wouldn't buy anything here yet. It doesn't mean that I think we're going to break. We could. But really, do you think in 2019 the market is going to try to stage a comeback as far as when? I don't know. It's early in the year. Sure. Day three. Gary, on that note, one of the things I just did is I talked about how everyone had to buy an Apple, but also how it was trading at 13 times a PE ratio. Everyone talks about PE ratios. Stocks are cheap. People say that. But when do people buy? Because as we've learned even today with Apple, cheap stocks can get cheaper. I let the market decide what's cheap. I have gone through and studied bear markets going back 100 years. And the market would ultimately decide and it'll show characteristic of bottoming out. And that just takes time. And I don't think we've even gotten into the second leg down at this point in time. So I just think you wait. And you've got to realize cheap can really change because if earnings head down, cheap gets more expensive. So you just have to be very, very careful at times like this. And I just got to say, as far as uptrends and downtrends, if this is still an uptrend, I hate to see what a downtrend is going to look like because it's pretty ugly out there, let me say. Well, again, it depends on how far back you go in a chart, right? Yeah, sure. Yeah, so we get that part. What do you think then, you know, it's early, Gary, but for the rest of the year, this kind of volatility or at some point we do the smoke clears? You know, I don't know what I'm eating for dinner tonight, let alone the rest of the year. All I can tell you is I think we're in a major bear market. And I just really feel this is not a garden variety bear market now, just based on what I'm seeing because there's still massive leverage, massive margin. And I just think the big money still has not gotten rid or been satisfied with price yet. So you got to be careful. Got to leave it there. No CP effect today. Let's claim it.