 Welcome back to the show. Now, normally the markets, they like certainty and certainty is not what we have in this election. But the markets haven't been reacting unfavorably to that. And here to make sense of it for us is Melissa Armo. She's the founder and CEO of Stockswoosh. Welcome, Melissa. Hi, thanks for having me. Excellent. So as I said in the intro, normally the markets seem to like stability and certainty and that's not what we have, but they seem to be going up. So how can you explain that for us? Well, as we're speaking right now, guess what? The markets are selling off tonight. They're selling off hard tonight. So it's interesting. What my expectation for this week was that if we didn't get an answer by the end of the week as to who won the presidential election, we were going to see volatility. So right after the election Wednesday, we had a nice rally. And then today we rallied a little bit. We're losing it. We're losing it tonight. I wouldn't be surprised if we sell off tomorrow. Why? There's going to be some legal battles going on about who's winning. We still don't know who's won. And again, people are feeling really shaky right now about their honesty about the election because really people are going to say, do we believe what these polls are saying or what the count is? People don't really know. And how about the international markets? Are we seeing any reactions there? I haven't checked them yet, but usually typically when we're down, the international markets are down. But yeah, usually we go together. And I'll say this, with the numbers that we had this morning, we had some really good numbers out this morning, unemployment was undercut, less than expected. So we're under the 8% number. We had the jobless claims come in. Again, they're decreasing week over week. So we've had some good numbers lately. Last week, we had a good GDP number. We've had some good economic data. But the backdrop of COVID, the cases increasing for COVID, the uncertainty of the presidential outcome, I think is going to weigh in the market. But to be honest with you, I was surprised that we had the rally we did the last two days. I think that people thought Biden was a short winner and that the news media outlets were calling him to win, and we would know by Wednesday night. But when that didn't happen, and here we are going into the end of the week, this is going to go into next week, this could drag on for another month. And that with the increase in COVID, I don't think the market's going to get over the high. I don't think we're going to make new highs. We got really close to it today, but we couldn't do it. And that tells me you're going to see some more selling coming into the month of November. I see. And how about this? It seems like a Biden presidency is probably going to favor being more cautious when it comes to COVID instead of opening up. So maybe more stimulus, more cautious economically. If it's a Trump presidency, it's going to be about opening the economy, getting back to work. What is the market looking for there? What is the market like there between the two? Well, the market has liked Trump's strategy for the economy. So if Trump would, in fact, win re-election, I think the market would see a rally. If Biden wins, although I think the market's going to hold the uptrend, I don't think the rally is going to be as steep as it would if Trump would win because Biden has already said that he would listen to the experts like Dr. Fauci, for example. And if they say that they would shut the country down again, then I think that Biden said already that he would listen to them. He said them on ABC News in an interview with Dave Vermeer. And I think the problem is that some of these businesses, number one, they're still not open. They're still not up to capacity. You don't have cruise lines, airlines, hospitality, restaurants here in New York City are only at 25% capacity for indoors. So many of these businesses can't go back to being completely shut down again when they never really completely open. So I don't think that a Biden presidency would help the economy if in fact he decides to shut it down. Now, if Biden wins and they don't shut down the economy, then maybe we can move forward. Either way, no matter who wins, no matter what the outcome is, the market wants to see a stimulus package. People are hurting, people are unemployed, and I think they need to do another round of the PPP to help some of these businesses. The airlines aren't going to make it to the end of the year without more layoffs. They're ready to announce that. They already said they're going to have more layoffs if they don't see more stimulus and help from the government by the end of 2020. And what's expected for holiday spending? Can that help anything at all or is expected to be sort of record lows? Well, as far as holiday spending goes, remember, people spend more when they go out into the stores of the brick and mortar, which people aren't going to do this year because they're afraid of COVID. And here in New York City right now, like I was on Fifth Avenue today, it's wall to wall boarded up. And that's because people are still afraid of riots with the election outcome, which is pending. It's not fun to go into a store when it's boarded out. They've been boarded up for a week. They've been boarded up on and off through since June because of riots. People are afraid of COVID. People are afraid of riots and protests. So I think online shopping, you have the Cyber Monday, the Cyber Week, I think that possibly could be the big shopping day of the year. But right now I already see I'm ready getting emails for Black Friday sales. So retail stores are trying to get as many sales in as they can even a month before the holidays. But I think people are still going to be scared to go out unless for some reason we get a vaccine before Thanksgiving. And that's that could happen. I think that's a stretch. But they're talking about the possibility of another month maybe. Yeah, I mean, even if one comes out before Thanksgiving, the distribution of it's going to take some time, the clock's running out on that one. And so what's your advice for investors at this stage? I would say for active traders, like I teach people how to actively trade the market, we're going to see a lot of volatility, which makes for great opportunity if you know how to play it, which you could surely could go long for long term investors depending on your time horizon. If you're in the market, say you're worried about your 401k if we sell off again, if you've got a long time horizon to be in the market, I would let it ride because the market probably is going to hold the uptrend even if we have a sell off here. But if you are in retirement or if you need to take the funds out of your retirement soon, like I'd say next 12 months, you may want to take some profits here because the market has been close to the highs. Some of these tech stocks have had nice rallies. I don't know if we're going to see a Christmas rally this year. November could be a shaky month back and forth rallying like we did the last two days and then selling off, which I think we're going to do tomorrow. I think December is going to really depend on if we know who actually wins the presidential election. I think we got to know by Thanksgiving because if we don't know by the holidays, that's going to create such terrible animosity and panic in the markets and really almost no matter what numbers come out, whatever economic data comes out, no matter what stimulus happens, well actually they're not going to pass a stimulus unless they know what's going to happen with the presidential election. Exactly, exactly. All right, we've got to wrap up here. Thank you so much, Melissa, and we hope to see you back. Thanks for having me. Bye-bye.