PS Elements 15 pamarama Photomerge

I understand how photomerge in Elements 15 is supposed to work. I select my photos, go to guided mode, go though the settings on the side, then hit the create photomerge button at the bottom. The screen goes through a sliding graph and really looks like its doing something. The photos are being added to the layers box on the side. when it gets done it goes back to the "guided screen". It says on the screen that the finished panorama can be seen in the "expert" screen. I switch to expert, but I can't find the finished picture. Where is it?