he's tom mcclellan, editor of "the mcclellan market report." he joins us now. lot of people are referencing the comments from the president in september at the debate stage, where he said we are in a big, fat, ugly bubble and joking, is this the bubble trump was warning about? what do you think? >> well, ever since the election, people have been calling this the trump rally because they have to call it something, and so that's what we call it. i had expected a rally irrespective of who won the election. and in fact, i changed from bearish to bullish in my newsletter the friday before the election, expecting a big rally. what the election did is it had everybody on hold and just frozen like deer in the headlights, unable to move because they didn't know what the outcome was and people were afraid of the unknown. but once they got it to be a known quantity, then they could be real even and put their money back to work again. >> well, it's interesting to see so much money coming into the market and being put to work. but i was speaking to an investor yesterday who

tom mcclellan of the mcclellan market report and newsletter is with us from seattle and douglas holtztaken joining us. tom, we've talked with you a lot about what the markets typically do during the first year of a new president's tenure in wa washington, and it's not pretty often because this is when the tough decisions have to be made. clearly president trump wants to get to work diligently as it pertains to the economy. do you think the markets will have a good year this year or otherwise? >> well, i think it's going to be a good year because of the strong amount of liquidity that's still out there but it's not going to be a linear up trend, a lot of texture to it. right now the markets are frozen deer in the headlights mode like they were on november 3rd and 4th because of the risk of the unknown. just before the election it was unknown about who was going to win. now it's the unknown about what's going to happen, what's going to get proposed, what's going to go first? there's all of that. as that fades the fear of the unknown and the markets can get back to the normal business and tre