 everyone's asking is the market about to hit bottom let's ask our market pros Melissa Armo, Gary B Smith and Larry Shover. Larry let me start with you you know these kind of markets selling begets selling emotions run wild and nothing mattered great earnings I don't care stocks going down great guidance I don't care stocks going down so we are in the throws of it right now how do you determine when we're getting near the bottom of it well I think we're almost at the bottom of it but I think what's more important is that I can rattle off all the reasons why were why we're down all the pessimism but if you look at the price action it's all about the Fed who while risk assets are falling while global concerns run a pace they are continuing on a tightening path and that has spooked markets look at the action today Charles Fed fund futures if this was truly recessionary yields would be down they were actually up and we'd see an outperformance in the belly of the curve that did not occur what happened today was fed fund futures actually yields actually went up ever so slightly and we saw a small outperformance along into the curve to me it's all about the Fed and we'll see a lot more of that next week with regard to FOMC minutes and pal speaking to see if you can calm this market down we've yeah I mean you realize well good no no we do get a press conference from chairman Powell I will point out that on October 3rd he gave a speech that I think triggered a massive sell-off and the market hasn't recovered but Melissa I do want to bring you in as well because there are many things knowing at this market and you know you can certainly argue that it's oversold but that doesn't mean it's gonna stop going down you know what happens is as you said earlier selling to get selling so people panic at every single professional article that I read today was telling people to sell they're creating panic and people people are saying get out now or you'll regret it and you know honestly when I look at the market we are still holding an uptrend and there's some people out there they're saying we're an embarrassed trend that's not true the market technically speaking is still holding the uptrend and unless the Dow gaps down in the pre-market and opens under 23,000 and breaks it involves off the cliff we are holding uptrend so I have high hopes for the market to rally in the month of December Gary B you always give me high hopes so lay it on us because a couple of million people want to know what's going on yeah for me Melissa there there's there's a couple things going on are we still in an uptrend you know it always depends on your perspective Charles as you know I think Melissa is looking at a long-term chart or longer term chart than certainly a daily or even a weekly and you'd have to say the market is still in a bull market does it feel scary absolutely I own a lot of these fang stocks Amazon Netflix and you know what is Netflix down like 35% from its high yeah exactly well you know you're still up for the year so that's good but boy it feels lousy you know from a few weeks ago again it all depends on your perspective I always try to take a step back and you know turn off all the news all the you know stop reading everything and say huh am I still going to use Netflix tonight yeah did I already use Amazon today to start ordering Christmas gifts yes are those companies most likely going to be around three five ten years from now you'd have to say yes so you take a step back and say one yeah it's painful right you give into that but to you say I like what I own so I'm bullish you know and certainly based on the the foundation of the economy you'd have to say things look still pretty good but scary sure and Larry to that point you know investors do retreat not the companies they think would be around the five or ten years from now but ones that have been around over a hundred years so Campbell soup was a big winner Johnson and Johnson held up okay but again you know it's it seems like we're at a place now we're we're on automatic pilot to the downside and I guess from you your best advice would be what well my best advice was like get back I mean stay in the market coast is clear investing never never works but that said there's been a significant chasm between growth and value for over a year and a half and for me when I start seeing leadership from another group other than uber tech that's when I know the second leg or the third leg of the bull rally is intact real quick Melissa what would you tell folks well retail approach if you're an active trader you're having a great time if you're trading you're right because of all the volatility and if you're a long-term trader a long-term investor the markets markets bullish and I will say this one quick thing if Trump can pull a rabbit out of a hat and get this deal done with China between now and January 1st I'm telling you the market will take off and if people that has sold in the last two days or in the last month of October will regret it all right that's gonna be one big rabbit but anything is possible thank you all very much appreciate it