 mean well volatility means there you go this because when you have wide swings that we've been having up and then down a lot and then just can't get your your footing that's what leads to crazy markets and ultimately now a better than 1,000 pointed in the doubt a day better than 4% hit that has us now now even with some of the gains along the way 10% from our highs that is volatility my friends and we have not shaken that off in fact if anything it picked up steam by the end of today's trading let's go to market watches Melissa Armo and Dan Schaffer Dan you were here not too long ago essentially saying get ready for more of it and sure enough we've got more of it this is already on track to be with the 6.5% loss through today the worst week for the Dow since the famous meltdown the week of October 10th 2008 what's going on well I think that the investors are waking up to the fact that all these plans that are being made out of Washington and the way the economy has been functioning is just not happening and they're starting to take their money out of the markets liquidity is drying up because people are panicking so the business are very wide and I think it's a very dangerous time and I've been warning about this for over a year that there was something wrong with the way the market was trading and the way the fundamentals have been in our economy because Melissa others will argue the fundamentals are not the problem it's all this other stuff that's been confusing folks that the fundamentals way do you talk about the underlying economy with the jobless claims figure out today the lowest in close to 45 years much better than expected earnings companies rich in cash sharing the loot with their workers that all that basic stuff all that that sort of the macro stuff is good good good what do you say I think fundamentally and technically the market looks great remember we've been rallying straight up almost since the election the fact that which was an anomaly by the way that was very very rare very unique the market is never power-trended like that for 14 and a half months the fact that we're falling in the last week which by the way it's only been four or five days is not anything to panic about or all of a sudden start to scream bearish and people were predicting a 10% correction anyways the fundamentals look good you got to give tax reform a chance to work it just passed it's only your first week of February 2018 and as far as the technicals go you have the reason people are panicking is because the move happens so quickly if we had a nice but the thing is that selling could you see me again I like that but no no I've had a real issue you are getting very well you know Dan another thing on this is that say what you will of this market it it's underpinnings have been exaggerate in other words we have all these exotic investments and you could trade off the VIX and these other you know VIX alternatives that that gets so over my head that we complicate this and these algorithms sort of in an unemotional way just exacerbate these things what do you think of that yeah well I agree with that I mean there are vehicles out there that you can go triple times the shorts on the S&P or triple of anything and I just think those should never have been approved and it does add the volatility to the market especially because some of these underlying vehicles that you return referring to are are backed by banks and just their credit rating so yes I agree that that has added what are you looking for now what are you looking for now we're down 10% from our eyes what are you looking for from here well we're at a we're at that 23,800 level that I was first looking for but based on the action of this week I think that we're gonna penetrate that level and I think we're eventually gonna end up at 18,000 before the dust settles and the reason I say this Neil is because everything is to go yeah everything's been baked into the markets the tax money is saying another 20% to go which would bring us down 30% from our eyes listen I don't predict tops and I don't predict bottoms it's a wait and hold if your long-term investor there's nothing wrong here there's no reason to panic if your short-term investor then you would have been out you would have been out last Friday we had bad earnings in Google and Apple that drove the market down last Friday the sat Monday was a follow-through with a continuation of the sell-off and then it just happens to quickly people panic it has all right guys thank you both very much on breaking news now including a guy who who singlehandedly today is stock markets right in their path Rand Paul why he has a problem with this budget accord next