and how you should play the swings there. welcome back. we're hearing that the president at 2:50, will be meeting with democratic senate and house leaders as they all try around really hash out a deal on the debt ceiling, so stay tuned to that. we'll bring you any developments that come of that meeting. 2:50, president obama to meet with democratic senate and house leaders. the housing numbers quite a buzz kill today. stocks giving up early gains after home sales fall to a seven-month low, yet, you're undeterred. there's two positive points. one, we saw that housing prices were up. two, the inflection point i think is in the housing market, 50% of distressed homes are in the government's hands. that is a big point in the housing market. toll brothers does the high-end. take a look at the second derivative, copper, flirting with the old highs. we'll bring in dennis gartman. what about copper? the housing numbers today were disappointing. they've been better of late. first of all, these are existing housing sales to date. the copper in a house is already in an existing house. what's more important, the copper market is yesterday's number and yesterday's start number. that's where new copper will be put to use. i think that's far more important than today's existing housing starts. particularly, sales, also, take a look at what's going on not just in copper, but look at zinc, look what's going on in the base metals generally. all of them are up 13 to 15% from may's lows. that's telling you i think that there is globally, not just here in the united states, but around the world. that's where i was going to go next. the china demand. that's more important than what's going on in our housing market, isn't it? probably 40 or 50% generally. have to get used to the fact that we are no longer big dog in the hunt. china's a bigger dog every day like that dog going after the shark, this is a fearless animal and you have 1.2 billion people leaping from the 17th century into the 22nd century and they're not going back. does the debt ceiling kill the gold trade? it may. if you get the gang of six program to go through, it probably take some of the shine off the gold market. too many people involved, nobody knows anymore, too crowded. i've been long with goal for a long time. i'm just less long than i was and i think that's the -- that's what i was going to ask you. is this the top to the gold market or are we looking at the top? i don't think this is the end of the gold market. i sound like a gold bug when i said that. for years and years, it takes a long time for a bull market to end. i think what you need is another 50 to $100 correction. take the late longs out. you had this huge build-up last week that should be accommodated. and the market usually does that. it needs perhaps the gang of six passes this afternoon, ta f that happens, will be the reason for it. thanks. talk to you soon. and we'll call the close when we come back. woman: saving for our child's college fund was getting expensive. man: yes it was.