 Our Mo founder and owner of the stocks who's Melissa record day across the board stocks ending at our near their session highs and again hitting the records. What's your takeaway from today's session. What's behind all the optimism on this first day of November. I think overall the market's been pretty optimistic this year. If you look at where we started out the year in January, you would have never thought that we'd be at this point. We continue to make record highs really in all the ETFs I'm shocked. Why because we still have almost 11 million people that are unemployed and out of work. So I think it's shocking to me. There's some big data coming out this week on Friday, which is again the unemployment number. They're expected to be under 5% if for some reason that ends up being above 5%. I think you're going to see some selling, which of course should be profit taking from all of these gains in the market by the end of this week. So look for a possibly possibly a volatile rocking market this week if we would sell off. Now, if we continue higher, it's difficult for traders to keep going long, but we are climbing. There's no doubt about it. We have been very, very bullish. Yeah, it certainly seems like the bull argument is the one winning right now, but there are causes for some to have, I guess, a bear argument, right? To your point, having so many people still unemployed, having the supply chain issues that we're seeing. I mean, what does it take? We've been talking about a 10% correction for quite some time now. I just don't know what it takes to get to that point. And we should say a 10% correction could be a healthy correction in the market. Well, I think right now we're in earnings season. All of the major earnings have already reported. The banks reported on Google, Apple. There's really nothing at this point that's going to tank this market unless we have terrible economic data or, God forbid, we would have some kind of other shutdown. And I always say 50-50 on this other shutdown because who would have ever thought we'd have what we had in 2020. That could create havoc in the markets. Other than that, I just don't see a 10% or 20% correction coming. And you say, how long can we continue? We can continue until it was long. That's a sky's element for the market at this point. We historically know there are ups and downs, but to your point, I mean, we'll take the rally while we have it. You mentioned earnings. I want to talk really quickly, Clark. Obviously, it's not kind of a major market mover like some of the names you just mentioned there a moment, but it certainly is a company that shined during the pandemic coming out of the pandemic. And we're trying to evaluate the company. We know it's going to report any minute now. Want to get your thoughts on Clorox and what you're looking at looking for when the company reports in just a few moments. Well, that really had the biggest move in 2020 because everyone was stocking up on all the items. The stock warred. It almost went vertical straight up and made renewal time highs. It's dropped off a lot since then. It doesn't mean the stock isn't strong. It still is potentially a good long-term buy. It's trying to hold the uptrend. And if that's up tonight, that that could be a nice buy tomorrow because simply the stock really is going to continue to manufacture all these items. Why the prices may take up because we're having supply issues for getting some of the things to make these products. I think people are going to continue to be thoughtful, I should say, as far as bacteria with uncleanliness. And they're going to continue to stock up and forge some of these things. So even if the prices go up, I think people are going to continue to stock these items. Yeah, I think there's no doubt that people are going to continue to stock these items. I wonder as an investor, how do you price Clorox right now? Given that the growth that they saw in the company saw during the pandemic was essentially a once in a lifetime situation and moving forward. Given the price environment that we're in with inflation, also given the demand is tapering down to more kind of realistic demand moving forward. How do you price when to get into a company like Clorox right now? Is it still overvalued potentially? Or is there room to grow for the company even beyond here? No, I think it could go back up to the highs. If it has a couple good earnings reports, it's got a long way to go from where it was a year and a half ago. It didn't make a nice jump. So if it's up on the earnings tonight, it could potentially be a nice long-term buy. That's what I'm saying. I think it's had a big drift off. If you look at it really from where it was previously, which was March, it was all the way back at the beginning of the pandemic in March of 2020. It's nowhere near that. It's had the sell-off that you're looking for. If you're looking for a quote-unquote pullback, it's already had that. So no, I don't think if it's up tonight, I don't think it could sell out more. I think that you might want to go along this for a long-term buy. Yeah, to your point. It's down, I think, year-to-date around 18, almost 20 percent. So that's the dip you were mentioning there a moment ago. Well, we wait for Clarke's earnings to come through. I want to get your thoughts, obviously, on some news we're expecting later this week. When it comes to the Fed and to tapering, what are your thoughts on whether we're going to get an announcement of the taper and what the market reaction will be? Is a taper and that announcement already baked into the market, given that it is kind of forward-looking? I don't think it's baked in because the market's been rallying and continuing you high. It's just like I don't think if they passed the 3.5 trillion stimulus plan, I don't think that's baked in either. And I think the market thinks the stimulus plan is going to be pushed off to 2022, and I think the market potentially thinks that all of this tapering may be pushed off into 2022. You know, Jay Powell wants to get up and he wants to stay in his position, and I don't think that's going to happen. I think they're going to point someone else for the Fed share, but I think it's a tough call here because the market has been rallying and the worst thing that could happen is for the Fed to raise interest rates or start to do this tapering and then have the market sell off. And that's going to be bad for him to look to get reappointed in 2022, which I'm sure that he wants. So from hearing you correctly, you don't think we're going to taper this year, and if we do, we're going to see a bit of a sell-off coming in? Correct, correct. And again, that might be another thing. We were talking about possibility to shut down bad economic data at the end of the week, or the Fed's raising rates, which would be bad, or they decide to do this tapering. You know, again, when you look at the market, this is what makes no sense whatsoever at all. It's great for people's 401Ks. It's great if you're invested in stocks, but it makes no sense because you look at the nuts and bolts, and you say this absolutely, we should not be having the rally that we have been having with all these people out of work, all the free money that the government keeps paying out to people with the child's extra $300 a month per child, forced stimulus checks for people, all the PPP, all of this is still going on. Then you have the backdrop of low interest rates. I mean, it's like a perfect storm here. We're coming up. It's eventually, it's going to hit the fan, and I don't know when that's going to be. I don't think it's going to be this year. We only got two more months left in the year. Today's November 1st. It could be 2022. It could be even into 2023. Typically, you don't have a big market reaction and election year, which is 2024, so you could see something happen between 2022 and 2023, which may affect the market in a negative way. And again, it's all of these things kind of combining for the perfect storm that could happen against the backdrop of the very bullish market that really continued to go and didn't really make any sense. While we had the recovery, we had the recovery at the end of 2021 as far as after the sell-off, I still think that we've been climbing so high, so much higher all the time, all the time. And if you look at stocks, and she was saying one more thing real quick. If you look at Apple, Amazon, all these stocks, with the exception of Microsoft, which had blowout earnings last week, none of these stocks are really look like the market. So you have the S&P going higher. If the Dow continuing higher, if the QQQ is continuing higher, what is the support system behind it? Really not much. And that's the problem. Economically, I don't see the support system behind it. And as far as looking at overall all the stocks that normally the tech stocks and only stocks that mark it up, they're not doing the same thing as the overall market ETFs are doing. And that's suspicious to me when I look at it. It doesn't match up. Well, to the point earlier, maybe that's what we call for our 10% correction. Maybe that's the catalyst for it because there seems to be a lot of optimism. And I'm all for the optimism. But to your point, it has to be propped up. So I'm just interested in your timeline really quickly. I want to stay there for a moment. So you're saying the beginning of next year, you think we'll actually see a taper. Then that puts essentially a taper happening all throughout 2022 with an interest rates potentially not hiking until 2023. Is that correct? Well, they might hike them in 2022. That's what I'm saying. Right now we're in the period of inflation. So that's part of the reason why they have split off raising rates. We're in an inflationary period, which at the beginning of the year, Jay Powell said this is when inflation is going to be temporary. We're already way past temporary. This has been a year of inflation and rising prices and costs and goods, food, gas, everything. So they may put up raising interest rates until later in the year 2022, but let's say they don't. Let's say they do the tapering and raise interest rates at the same time and the backdrop is inflation. None of this is good. It's not good for consumers. We're going to get scared, worried, fearful, which is what happens during inflationary times. And then when you put the backdrop of interest rates, it's going to slow down the housing market, too, which has had a fabulous boom. Housing has had a boom. All these things, people then will slow down buying, slow down refinancing. The interest rates go up. And so, you know, all of these things are very important decisions that the Fed has to make going into 2022, because they did not predict that this inflation would last as long as it has. And it's going to continue 2022. And it could even get worse, they're saying. I mean, gas right now in some states is close to $8 a gallon. And in other states, it's $4 or $5 a gallon here in Manhattan. I mean, it's very expensive right now for people to just pay for normal things that they would. And unless they continue to keep printing stimulus checks, how are people going to cover that, plus a rise in interest rates? So if not, it brings in 2022, it will be 2023. And who knows what will be by that point. Listen, as somebody who filled up my gas twice this weekend because I went on a road trip, I know exactly how expensive gas is. And I know we're all feeling that pain at the pump. You know, I know the storm that you described certainly would be a concerning one. And I can definitely, you know, see the market reacting unfavorably if we get that storm. I have to say, though the Fed chair has said that essentially, you know, the plan as it stands now would be to taper and then have an interest rate hike. We'll have to see later on this week if it happens. I'm interested to see if your take is the one that we end up seeing. If we end up not seeing an interest rate or a taper this year, I think the general consensus is that we will, but you might have the hot take on that. Want to also get your thoughts, though, on the interest rate hike, whenever we actually get that. In terms of financial, what are your thoughts on the financial sector right now? Do they look attractive to you? And does that hike make them more attractive eventually when we get them, when we get that? Let me let me address the first thing you said quickly because Jay Powell may change his mind because he wants to keep his position is my take and he was wrong inflation being temporary. So he can change his mind. He already has changed his mind. Do you understand what I'm saying? So he might again. So that's why things things are in flux. Things are in flow and they admitted that now going back to your point about the financials. The financials again have continued higher in an environment where we had all of these foreclosures that were put off. Now they lifted the foreclosure moratorium, but banks are foreclosing on people. This has been going on now since they since they've led to the moratorium. So now banks are finally getting people out of their homes and trying to resell them in an active busy market, which is not normal. It's not normally, but it's easier for banks to resell and have some of these homes now. So they're kind of starting to recover from this point. Do I think banks would benefit if interest rates go up? So I think that's going to be the financials benefit. They've already been going higher. JPM and Goldman Sachs are two of the strongest banks and they're right at the highs. Again, anything's been lifting this market. It's been those two banks. It's been the big financials. And if they raise rates, look for the banks to stay strong and continue. And again, they had that whole period where their people were making payments and they were pushing them off and reconfiguring the loans. That's how I've come to it now. And finally, they're starting to recover from that. And you've seen that in the rally and the earnings. Melissa, just hold on one second for maybe because we have a Clorox earnings. I'm going to come back to you in a moment, but let me get to Kristen to get those earnings out to us. Kristen. Thanks, Lisa. Clorox shares rising in the after hours, more than 5% currently at 172 bucks a share in the after hours after beating on both the top and the bottom line and confirming its outlook, earnings per share of $1.21, exceeding Wall Street's expectation of $1.03, revenue of $1.8 billion, beating the revenue estimate of $1.7 billion. Again, this company confirming its full year outlook does see a full year organic sales contraction of 2% to 6%. So those are sales that are still going to fall from the same time a year ago. And we did see revenue in this latest quarter actually fall from $1.9 billion at the same time a year ago. We also get that earnings per share guidance does anticipate earnings per share of $5.40 to $5.70. That too would be a decrease from the same time a year ago by about 26% to 21%. We also got comments though from the CEO, which do shed a little bit more light on the current state of business at Clorox right now. The CEO, saying we're off to a solid start, saw stronger than anticipated demand across our portfolio despite a challenging operating environment. The company did make meaningful progress, she said, on restoring supply, which contributed to holding or gaining market share in the vast majority of its businesses. The company pulling multiple levers to manage through the inflationary period does include pricing action and stepping up its cost reduction initiatives, cutting costs that is, which will help the company improve its margins or profitability and create fuel to reinvest in the business. One other note here, as she did say, although the environment remains volatile and we expect cost pressures to persist, inflation is sticking around. For the meantime, we do know that she does say that its first quarter performance coupled with the actions that the company is taking does put it on track to meet its full year outlook. And the company remaining focused on delivering against its strategic priorities to create long term value for shareholders. So this stock still clinging to gains in the after hours, it's been up about 4% in the wake of these better than expected results. Again, results that are a contraction technically from the same time a year ago, but still results that exceed Wall Street's expectations. And that is enough to send the shares higher by about 4% after they've come down quite dramatically from their high just within the past year or so of more than $200 a share. Alicia? Yeah, Kristen, as I mentioned a moment ago, the stock has been down about 18% from its year to date. And now up around 4% of the after hours and to your point, some of the key categories while there was a contraction. It was less than we saw last quarter health and wellness last quarter. So 17% decrease only saw about 8% decrease this quarter. And then lifestyles about 3% last quarter, 4% this quarter decreases. So again, still seeing some contraction here, but not as much as investors anticipated. Melissa, I want to bring you back in because you kind of called this you said this could be a buying opportunity and investors are following suit in the after hours again up around 4%. What's your take here? I think if it holds 170, which is out right now, it's probably a good buy. It's probably going to short tomorrow. And if the market continues higher tomorrow, it was retesting the highs today, then everything's going to rally. Remember, the market helps normal stops rally. So this is a good report. And so Avis and Clorox are both up tonight. Again, look at how bullish everything is. It's crazy. Do you think Clorox becomes more of a cyclical company? Melissa and I were talking about this earlier in terms of COVID. For example, we're hoping to get to the point where it's more endemic than pandemic. And we know that, you know, cases kind of like the flu tick up in the winter months. Do you think this becomes a more cyclical company? I know obviously not all of its components are rely on, you know, wipes and whatnot. But that is a core business that we saw during the pandemic. I think it's going to continue to stay strong, even with prices go up and why? Because we're still having delivery issues and that has to do nothing with Clorox. It has to do nationwide where they can't get the employees. They can't get the truckers. They can't get the delivery people out on the road. So when people go into shop, even if they don't need wipes or whatever, they happen to be getting cleaning supplies. If they see them, they're going to pick them up because next week if they go, they may not be there, not because Clorox isn't manufacturing them, but because they can't get the drivers to deliver them. It's been such a problem to get truck drivers back to work and this is across the board. So I think people are going to continue to demand the products, but can they get them out? Can they get the shelves filled? That's another story. They're manufacturing. They're having no problem with that. It's the same thing with all the supply chains. It's the problem of getting them to the stores as well. So I think people are going to continue to buy these products. I think the huge spike and then the drop off just happened because of the huge demand and then everybody got what they wanted and then it just dropped off. So I think it can go back to normal now, stay steady. I think over 170 is a possibility this could have a nice rally tomorrow and into the end of the week, barring the market towards the end of the week. And I think that people could possibly hold this long term. This company's been around for a long, long time. They're not going anywhere. And to your point earlier, in terms of long term tailwinds for this company, listen, a lot of us are returning back to the office. Companies are having to be more conscious in their cleaning efforts and how frequently they're cleaning and wiping down surfaces. So that seems to be at least for now, nothing that I can see going away in the near future or even in the longer term future. So to your point, it could be a long term opportunity for someone. Melissa, thank you so much for your insight here and in your take. Obviously some interesting takes. I will be looking forward to later on this week and seeing if, just like you kind of hit the mark here with Clorox, if you hit the mark with the Fed as well. Melissa Armo, founder and owner of the stock Sush.