All right, Mel, thanks so much. Welcome everybody to overtime. I'm Scott

Wachney, you just heard the bells. We are just getting started. In just a

few minutes, I'll speak to Funstrats, Chief Chartist Mark Newton, whose

new note attempts to answer the critical question for investors. Where is the bottom? We begin

though with our talk of the tape, this relentless reset of your stocks, your money, and

your expectations for where all of those might be heading in the weeks and months ahead.

Let's ask Jim Leaventhall.

He is Sarity Partners, Chief Equity Strategist,

a member, of course, of the Half-time Investment Committee.

Jimmy, it's good to see you.

Boy, your optimism was certainly tested this week so where do we go from

here yeah I do feel like I'm training for a mixed martial arts competition here

but look I think I think the obvious thing is we kind of bounce around here for a while

What's a while mean it means probably a couple of weeks we've got to get through the pre-announced season for earnings and then and then really see Scott because as you know and you and I debate there's a big question

about what earnings really are.

The estimates on the macro level have hung in there and actually even gone up week over

week and I know that defies a lot of belief so we're going to have to

see as the results come in if the macro analysts are out of their minds or if

actually the economy and corporate profits are a lot better than people are giving credit for.

I will note that it seems like you've got negatives and positives, right?

We get a pre-announced from Target a few weeks ago that was awful.

This morning you get a pre-announced from U.S. Steel. I mean this is a hard-ass at old line economy stock

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