Welcome everybody to overtime. I'm Scott Walker. You just heard the bells. We are just getting started and we have another busy hour ahead.

Salesforce earnings. They are imminent. We'll have the numbers, the instant stock reaction, the moment that report hits.

No doubt a good read on where the much maligned

growth trade currently stands we do begin though with our talk of the tape the

fate of this rally which feels anything but a sure thing how long can it keep going let's ask

Eric Johnston of Cantor Fitzgerald he is here with me at post nine it's good to

see you again thanks for having sat in that very chair you made a big call on stocks. You said they're going to go up 8 to 10 percent all in the month of May.

Not three days later. You got cold feet and you reversed it only for stocks to take off and go up about 7% to

this point now we're coming obviously to the end of May now why did you just stick to

your conviction so I was about two weeks too early, which two weeks in this market can be

problematic. And you know after two to three weeks I realized that based on some of the

information we were getting including target and other information that was out there

that the upside to a potential bounce was not as great as I previously thought and if you don't have the reward

there especially with the backdrop of having a very

negative overall view I decided that you know the wrist reward was not

attractive enough to be to be long and we have gotten the bounce it came off of you know 3800 and it's happening for all the reasons that we that we thought what happened which was that institutional

positioning was extremely stretched right sentiment was very. CTAs were short, and the inflation outlook

is, in fact, getting better.

And so all those things did lead to a bounce,

but it came off of 3,800 as opposed to 4,100 when I was here you know one month ago.

You pulled a 180 I mean in terms of sentiment too you you know you came on and reversed the

call and it was like this market's messed up.

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