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You very much we'll see you soon and for more on how you -- money on these markets today finally ought to bring in the these point view wealth management president and Robert Luna -- best capital management CEO and Roberts you first asking about market participation one of the things were saying is.
There are people men and -- that's at the trading floors today but it's limited staff and our connection issues right -- communication issues what do you make of this market is a real.
Yeah I mean I think there's definitely going to be some -- like you said there's no communications there on the floor.
But it in general I think volume is going to be light regardless this week you have an election coming up Tuesday.
A lot of uncertainty out there -- so you know even without the storm I did not expect a lot of market participation this week it anyway.
I as far as you know what they -- -- the last two days closing the markets -- as you can see a lot of people expected a huge sell off today.
That -- -- really happened I think going into month then a lot of the big institutional money managers out there that are new in this market around.
-- kind of off to the sidelines I think you're gonna see this low volume persist probably into the middle of next week.
OK David the -- saying that volume is about on average on par right now what do you make of it.
Yeah I mean there's no question about it we're urging people to stay on the sideline -- must they have to trade.
But it's not going to be -- not participatory market because you know we just had to date there have where the market's been closed people do need to make transactions there's real estate deals that are pending.
Cars to be bought.
Also a lot of institutions they closed their books at the end of October a lot of mutual funds so they want to do final positioning for the end of the month today they also want to take tax losses so it's not like there's no participation out there but the key watchword here is there's a lot of uncertainty -- to the -- -- the storm and you don't wanna trade when you don't know what you're doing.
Robert innocent of the sectors that I've been following air reacting -- -- a little bit surprised in particular the airline sector even delta the stock was up about three minutes ago so what do you make -- kind of how the different sectors are performing.
We thought would sell off were we thinking retailers would actually be hurt some what.
Home improvement stores would do well airlines would sell off what he's saying.
Yeah I think that's interest thing like you set out trying to get my arms around airlines myself I don't quite understand that I think you saw initially on the open this morning.
Kind of the playbook trade -- -- sure is like Chubb and Allstate you have by you know.
Some pretty big exposure there in that area sell -- he saw the -- timber companies like Rainier plum creek.
You know -- -- a take take a big leg up as well as Home Depot.
But it seems like that trade somewhat reversed.
And you know I think a storm like this will definitely have some impact in the short term but as far as making long term fundamental decisions -- what you wanna do with your portfolio.
This really shouldn't have much impact on what you do there at all but like you said the airlines very surprising and I'm not sure wide to be quite honest -- trading up -- And also -- -- processing market commentary now that everybody is somewhat everybody's back at their desks today talking about fourth quarter the impact.
On earnings for the fourth quarter -- back.
Yeah well he's certainly not could be a positive but of course.
From investors put you have to decide whether you just wanna make the trade based on what they're gonna -- about the fourth quarter and frankly they don't know any more than the next guys to -- the -- -- -- -- be open -- kind of guessing here a little bit.
First is taking a longer term view and I agree with your other -- that for the most part this is not going to have a long term impact in terms the airlines I would point out that some of the European airlines including Air France had much better than expected results which suggested that analysts need to ratchet up globally airlines forecast and that's what's giving a boost.
Well -- -- -- -- me for every bag that I checked really quick before I let you go Robert I do wanna ask you just overall what do you expect for us to seek from now until the election with regards to trading.
-- -- -- Yeah I like it -- -- -- after today there might be some closing out the books but I I expect volumes are significantly drop off tomorrow.
The markets are right now looking for some clarity.
I there's you know like huge event coming up on Tuesday we don't know -- the next present in the United States is going to be.
-- for people to make a big trade prior to that will be very surprising.
I would expect low volume like our other guest said if you don't need to make a trade today or in the next couple days sit back wait let's get some clarity at least -- the election and three dollar -- don't forget after that we gotta tackle cliff action to deal.
OK my son and is David grow quite.
Yet drifting down here too much and -- -- and work in a sort of a correction from mid September all right gentlemen thanks about to be robber Leno and David.