Investor's Edge with Gary Kaltbaum - A Bounce

Episode Date: September 19, 2022

Follow Gary on GaryK.com or http://garykaltbaum.com

At CVS, it matters that we're not just in your community, but that we're part of it. It matters that we're here for you when you need us, day or night, and we want everyone to feel welcomed and rewarded. It matters that CVS is here to fill your prescriptions and here to fill your craving for a tasty and, yeah, healthy snack. At CBS, we're proud to serve your community because we believe where you get your medicine matters. So visit us at cvs.com or just come by store. We can't wait to meet you. Store hours vary by location. Investor's Edge with Gary Coltbaum. Straight talk about you and your money. Now from the BizTalk Studios, here is Gary Coltbaum. And welcome once again to Investors Edge. I'm Gary Colpom,

your host day. Thanks of being with us today. Glad you here, ladies and gentlemen, happy that you are listening. It is Monday, September 19, 2022, and we're here to cover all the important news of the day, the markets, the economy, the queen, everything we're seeing, everything we're thinking with no agenda, ulterior motive or bias, but just to keep you in good stead with the markets, one little step ahead is all we need. We do not need to know where the market's going to be at the end of the year like people are telling you, oh, our target or so and so they have no idea. My favorite one is that everybody telling us what's going to happen in 2024, not even 2003, but we'll let them have that it. Anyway, if you do not get this show in your city, we will

post it at garyk.com. We'll also post it on Twitter feed. If you don't follow us on Twitter, what was that? I think we're still working. If we, if you're not following us on Twitter, just go to Twitter, put our name in, or go to garyk.com, press the Twitter button and follow us. And if you want to email us, just be nice. Nice is good. We're nice. We're receiving. We're respectful as all hell, unless you are one of our football team owners or coaches who is killing the team, Jim Dolan of the Knicks, or one of these sleazy, slimy, corrupt politicians in Washington, D.C., all of them, both sides of the aisle. So we rip them to shreds every day. All right, but most important news of the day.

Think about this. Yesterday, my fantasy football league, I play against Tyree K. Hill who goes 11 for 190 with two touchdowns, 48 and 60, both in the fourth quarter. I go against Cooper Cup, 11 for 108, two touchdowns. He's amazing with the Rams. Against the Buccaneer defense who plays against New Orleans that had like 42 turnovers and a touchdown on defense. How do you think I did in Fantasy League?

And I actually have a good team and I lost. Two weeks in a row I'm going to lose. And I had two great weeks. You know, in the leagues you play against another team and you got to get lucky. You can't play the best team each weekend. This is what I'm doing this week. And it was close until, in like five minutes, Tyree Kill for the Dolphins gets a 48-yard or a 60-yard touchdown. Boy, was I pissed off.

Anyway, Gary is going to be 0-2. Unless the Buffalo Bill's quarterback throws like six touchdowns tonight. That's how far back I am. I also have Adam Thielen from Minnesota, but he's been pedestrian. and I got the Bill's defense who probably have a decent game. But, all right, so that's the most important news of the day. I woke up at 4 a.m. for the queen. I fell back asleep.

I taped the whole thing, but I watched everything from 6 o'clock on. And as I have told you, I'm in London before COVID twice a year. And I just love it there. I will walk out of my hotel around Hyde Park. And there are days I've walked for nine hours, spent nine. hours just walking and going and stopping and going and walking and stopping and going. Finish the evening at Hawksmore in Covent Garden and going and I just love it there. And as I told you, I think it was 10 years ago, I'm in front of Buckingham Palace and I'm walking away from it towards Hyde Park.

And a car passes by and went by and I figured it out, it was the queen. And she had already passed me and people were just getting on. Falling to their knees and crying. That's how much they love this woman. Falling to their knees and crying. I had a glimpse of her. That's about it. Just a little glimpse.

Anyway, if you've never been to London, it is magnificent. What a magnificent city. I've also had the privilege. We did a big golf, started in Manchester, came down Liverpool, stayed at this Penny Park in and played golf around there, went all the way the East Coast, played over there. Just, anyway, if you ever have a chance and the people are great.

Fantastic. Great. Terrific, wonderful. Anyway, what a, I hate to use the word spectacle, but wow. Wow. 10 days of wow. Okay, so we got rid of the fantasy league and the queen. Joe Biden's interview on 60 Minutes last night.

So you're Scott Pelly. You're 60 minutes. You have an opportunity to speak to a president. Your goal is to hold the powerful to account, not kiss their ass. Scott Pelly kissed ass. Asked a couple of pertinent questions and got lied to. What are you doing? when you get lied to and you know they're lying,

you go with the follow-up. How can you say that? What do you mean by that? Nope. Just walk on by. Eh, screw my audience. They'll watch us anyhow. We're 60 minutes.

The economy's good. Wait a minute. You just had two down quarters. You just had two down quarters. That's a recession. How's the economy good? No, no follow-up. Inflation, well, we were down one tenths of percent, but he asked about 8.3 percent.

Yeah, and Biden was convoluted, but you know what he doesn't do? For six to nine months, you were saying inflation was transitory, and then when it finally hit, you blamed it on Putin. Even though six to nine months you were saying, it's transitory, and now oil prices are coming down, and you're no longer blaming on Putin that they're coming down, you're saying, oh, it's because of you. That question was not asked. not a question on debt and deficits. Do you think he asked them, hey, President Biden,

you've been in Washington, D.C. Since our debt, federal debt, was $458 billion. It's now $31 trillion, and you voted for every dime of that debt. Yet you just did another big spending bill and you said it's going to cut deficits. No, that question wasn't there.

And then you had the economists out all day to day, today saying, oh, they cut in deficits big time. One point something trillion lowered the deficit. A lie. Nobody's calling these people on it. You know why the deficit's down? Because the massive COVID spending is gone. We're mostly over with. We're still going to have a $1.3 trillion deficit this year. Do you think Scott Pelly asked them that question? Why are you and your advisors not telling the truth on deficits? And you also came out with an inflation reduction bill, and everybody saying even Democrats are saying it will not drop inflation.

So why did you name it the inflation reduction bill? Didn't ask them that. Why would you? Why would you ask the most pertinent questions you can ask of a president that's lying his rear end out on the economy and inflation? and blame everything and anyone else except for himself. So Scott Pelly gets a zero out of 10. But of course, when they had Trump on,

who as you know, I can't stand them, I hope he doesn't run, they held his feet to the fire. They called him on his lies. It's what you expect. Oh, but not with Biden. And that's why we don't trust media. They are one-sided ass clowns.

that's all they are they're advocates they're one-sided biased clowns that's all no questions of controversy nothing you have a whole hour with the president i got news for you if joe if joe biden could stand up when i was interviewing him he would have kicked my you know what because i would have been like a pit bull like an interviewer like a media should be What do you mean 8.3%? What do you mean 1 tenth? What do you tell people that can't afford food? You're the president.

No. Anyway, just letting you know that the con continues between the media and the politicians. That's how you get the $31 trillion of debt and them telling us they need more of the money. That's why after all these years, just so you know since the year 2000 it's 22 years later before debt they've spent let's see 22 years let's about 70 trillion dollars of our tax dollars oh but they need to fix the grid and infrastructure now 70 trillion did not fix that oh that's right since the year 2000 add another 25 20 27 trillion more so they've spent almost a hundred trillion dollars since the year

2000 and they need more and you wonder why up next markets movers news what else i'm gary this is the one only investors edge hi i'm gary colbaum hosted a nationally syndicated radio show investors edge we're not just handsome radio people we manage investors money for a living specializing in fee-based discretionary money management no big commissions just a fee on the assets that's managed we also provide a full range of personalized services, including retirement planning, fixed income, and educational needs, all to assist you in achieving your financial goals. Understanding not all individuals have the same needs, we'll carefully evaluate your personal goals to determine a proper investment strategy.

If your current approach to investing is not getting you to where you would like to be, call us to make an appointment for a complementary portfolio review. The number to call is 888-4-22-559. that's 888422 55559 that's 888 422 55559 investment advisory services offered through call bomb capital management hello hello i'm malcolm glabwell host of smart talks with ibn i recently spoke with ibn's new director of research j gembetta we discussed his vision for the future of quantum computing at i vm research what we always do is answer what is the future of computing, whether it's coming up with new algorithms, coming up with better AI, coming up with quantum, or coming up with just how do different accelerators go together.

It's our DNA to answer the question of what is the future. Isn't it a perfect problem for IBM because you kind of need to have a legacy of building stuff? Yes. Building actual physical machines. Yeah, it's why I came to IBM. I wanted the experience, the culture of. building hard things that others have not done before. Mm-hmm.

Mm-hmm. Where do you imagine we are in the timeline of this technology? There will come a point when it will mature. Right? Yeah. My cell phone is a mature technology at this point. How far are we from that point with Conton? By 2029, we'll build the first fault-tolerant quantum computer.

That is one that can run a very, very large, large problem. To learn how IBM is building the future of computing, visit IBM.com slash quantum. Success starts with your drive, and American Public University is here to fuel it. With affordable tuition and over 200 flexible online programs, APU helps you gain the skills and confidence to move forward. Whether you're changing careers, starting fresh, or pursuing a lifelong passion, our programs are designed for people who never stop. You bring the fire, APU will fuel the journey. Learn more at APU.com.

It's time to switch on the integrator units and get the brain cells working. You're listening to. Hey, this promises to be fun. Investors Edge. The last bastion of quality programming. With Gary Coltbaum. It doesn't get better than this. Hey, by the way, Steely Dan, let me repeat that again.

And I'm going to be conservative with the number. our government has spent $90 trillion since the year 2000. That's spending plus deficit spending. We're talking federal walks here, not even state or local, $90 trillion, yet they have the nerve to tell us they don't have enough. $90 trillion, yet your sidewalks still have cracks. You still have homeless people. There's still poverty.

There's still some kids out there that don't have enough food. D trillion. So what do you think happened everything we have told you? Corrupt, inefficient, ineffective, miserable failures from top to bottom. And I am telling you, they curse each other out in front of the camera. They are laughing their tails off in the back rooms as they continue to screw us and disrespect us the taxpayer into oblivion. And they don't ask me why the media, don't ask me why they collude with them. Imagine you have the President of the United States 60 minutes

and you don't ask him about him voting for 30 and a half trillion of our 31 trillion of debt. you don't call them on the carpet for lying about the deficit reduction. 90 trillion they have spent in 22 years of our dollars, and they want to know why their poll numbers are worse than root canal. But we do nothing. You know why? Because the next person that comes in is worse than the last one.

And whoever wins the next election is worse than the last one. They're all in the tank. every one of them. Let me repeat that. 90 trillion bucks they have spent since the year 2000. And they don't have enough. Imagine if we had a real efficient businessman in there running the show for the last 22 years. We'd have 40 trillion left over.

And man, oh man, the airports would be sparkling new. The highways and streets would be much better. I think you're always going to have poverty because a lot of times it is a decision by people. But man, it would be so much better. Education. Oh, my goodness, what you can do with that? 90 trillion. We have to raise taxes.

We need more money. As I said to you, they're given $380 billion of our tax dollars to John Podesta, a Democratic hack. in the tank Democratic political hack to dole out on the climate that will be $380 billion

down the freaking toilet that will do nothing for nobody not a shred you know what I'd be able to do with $380 billion if you really use those hard

dollars for good things my goodness it will be gone. Do you know how many startup green companies are happening right now in Delaware where everybody opens a corporation and all going to bid for grants from John Podesta

and they all know him throughout the years and then those people are going to start those companies and they'll get 10, 20 million bucks, which will be a footnote in the whole, whole $380 billion. And if they get $10 million, they're going to take salaries of $6 million. A million will go to office space and hire a few people. And who knows where the other $3 million will go.

Oh, we had to buy Super Bowl tickets and take the secretary of so-and-so because we've got to sit him down and discuss what we're trying to do going forward. That's where all the money is going to go. I bet you. and I bet you if I called John Podesta up right now and had him come on here and I asked them one question, who's getting that money? He would turn into Ralph Cramden from the honeymooners and go hamana, homina, homina, homina. No, really, who's getting the money and what are they spending it on? Well, we got climate investments.

We want to make sure we go towards the green. It's so sickening and it's so freaking frustrating. I can't begin to tell you. By the way, this is what the Republicans do also. Just remember, we got here because of both of them. Trump ran up $6 trillion of debt. Wait, what? He said it was easy to get rid of debt and deficits.

What do you mean he ran up six trillion bucks of debt? So let's make him president again. Take us to 40 and 50 trillion of debt. Anyway, that's my complaining of the day. So we come into this week, and in case you don't know, and this is the important part of the equation, because, you know, most people who talk markets don't even mention this. We do.

In four trading days, one, two, three, four and a half trading days to today's low. Just four. The Dow went down 1950 points to, to today's low. And we were down again early. We finished up. And of course, since we finished up,

somebody's going to come out and say we bought them because that's what they all do. But again, we need to let you know the reason why we were up today at the closes, we just dropped 1,450 points in four days. And I can go back further and amazingly tell you in two months, we went from 34-281 to 30,000,

to 30,059 today. In two months, 10% on the Dow, little more on the S&P, 12.5% on the NASDAQ, and 15% on the transports. In two months. By the way, that's from a lower high. So if we bounce from here, that's why.

So be careful about, oh, the market was up today. Oh, it's the bottom. Up next. More in the market. markets. Lots more. I'm Gary. This is the one-only investor's edge. Hello, hello. I'm Malcolm Gladwell, host of Smart Talks with IBM. I recently spoke with IBM's new director of research, Jake Mbata. We discussed his vision for the future of quantum computing.

At IBM research, what we always do is answer what is the future of computing. Whether it's coming up with new algorithms, coming up with better AI, coming up with quantum, or coming up with just how do different accelerators go together? It's our DNA to answer the question of what is the future. Isn't it a perfect problem for IBM because you kind of need to have a legacy of building stuff? Yes. Building actual physical machines. Yeah, it's why I came to IBM. I wanted the experience, the culture of building hard things that others have not done before.

Where do you imagine we are in the timeline of this technology? There will come a point when it will mature. Right? Yeah. My cell phone is a mature technology at this point. How far are we from that point with Quantum? By 2029, we'll build the first fault-tolerant quantum computer. That is one that can run a very, very large, large problem.

To learn how IBM is building the future of computing, visit IBM.com slash quantum. Success starts with your drive. An American Public University is here to fuel it. With affordable tuition and over 200 flexible online programs, APU helps you gain the skills and confidence to move forward. Whether you're changing careers, starting fresh, or pursuing a lifelong passion, our programs are designed for people who never stop. You bring the fire, APU will fuel the journey.

Learn more at APU.APUS.edu. OnDEC is built to back small businesses like yours. Whether you're buying equipment, expanding your team, or bridging cash flow gaps. OnDex loans up to $400,000 help make it happen fast. Rated A-plus by the Better Business Bureau and earning thousands of five-star trust pilot reviews. OnDec delivers funding you can count on. Apply in minutes at on-deck.com. Depending on certain loan attributes, your business loan may be issued by On-Dec or Celtic Bank. On-Dec does not lend in North Dakota. All loans and amount subject to lender approval. You're listening to. America is talking.

Investors edge. He's got to be pleased with that. crowd is just on his feet here. He's a Cinderella boy. With Gary Colbomb. It comes highly recommended. You're going to feel better if you talk to him. And welcome once again to Investors Edge. They've spent $90 trillion in 22 years, and look what we got for it.

The market wrap is brought to you by Investment Dash Models.com. That's Jim Rohraback, one of the great market timers. No gray areas with the man you're either in or out of the market with his proprietary indicators. Go check it out. investment dash models dot com this all happened in the last hour just so you know the market was down on the open pretty good was up down up down pretty much flat the whole day and then the last hour doubt 197 s mp up 26 NASDAQ 86 NASDAQ 100 by the way the NASDAQ

in the last four days went down to today's low let's see 12-270 954 points rallied up 86 today so normal

transports up 249 in case you don't know the transports have been squashed in the last four days plus the transports went from 14303 to 12656 in four days 10%. So of course they're going to bounce and they did. And they got trashed last week on FedEx and everything down in sympathy. Advanced declines at the close today, NASDAQ was still down, 21 up 23 down, and that represents hundreds. But the New York 24 up 17 down, so that was better.

Get this, new highs and the more, well, let's do new lows. 728. New highs? Let me not give you the number. Let me tell you what's at new highs. On the NASDAQ. Constellation energy. It's natural gas.

Max. Eon. It's a solar stock that loses a bunch of money. I call it Twinkies, but it's hostess brands. Twinkies broke out to new highs. Aspen Tech, this is the NASDAQ. Computer Software Company only trades

150,000 shares a day. That's your new highs on the NASDAQ. No, not kidding. On the New York, you ready? PG&E. It's a utility. stock. Front line. It's a oil tanker pipeline. Nordic American. It's an oil tanker pipeline. You ready for this one? Bolero. Bowling centers. International seaways. Oil pipeline.

Energy, oil, pipeline. TK. Tankers, oil pipeline. That's it. That is your new yearly highs on the market. So obviously, oil pipelines, natural gas pipeline, stuff like that. And that's it. Wow, huh? Not a lot of leadership, but today the financials bounced. The economically sensitive stocks bounced. The commodities bounced. They were hit pretty hard the last three weeks. Travel bounced. You know, the airlines and stuff like that. Retail bounced.

Autotypes bounce. Gold bounced. The mega caps, Tesla up six. Apple was up four. That's a big move for Apple. Netflix up three, positive comments about their ads or something. and Vidi up to a certain somebody on TV who's been bullish on it the whole time. Now says he's short, terrific. But just it was a bounce today.

What has me, forget the bounce, put it on the side for one second. The 10-year yield finished above the highs of June. 3.49, which means from Friday to today, mortgage rates are going up a wee bit more on top of what they already went up. And as I've said to you, man oh man on mortgages,

two years ago, the 30-year mortgage was 2.87%. Two years ago, the average home price was $405,000. Because of Jay Powell, home prices on average rate. right now, $547,000 coming down, so affordability is troublesome, but the 30-year mortgage is 6.02. I think it's actually a little higher now. That is a $28,000 increase in the down payment, assuming 20% down, and a whopping 96% increase in monthly payments.

And if you want to know why the housing business is in trouble. And every day I go on my websites to go look if there's any new inventory coming on, I see a lot more inventory coming on, a clear lack of sales, day to sell, days to sell are getting extended, and prices coming down. I saw an $8.7 million house in Central Florida dropped by a million. I look at everything. You know why? Fantasy land pricing. People are still in fantasy land. They don't want to lower prices. I'm seeing homes still up there at a million that will sell for $750. maybe when all said and done seriously I haven't looked everywhere around the United States but man I looked at Denver I looked at Phoenix I looked all around Florida it's too

much inventory affordability is problematic which is forced up rental prices because nobody can afford to buy places and that's killing people wanting to rent also It's called the vicious cycle brought to you by the guy who, on his whim, is going to decide what's going to happen on Wednesday on catching up to the real market. He's going to raise rates to 3% on the Fed funds, which doesn't matter to me or you, while the 10-year-n yield is at 3-5 and the 2 years at almost 4. Guy is not, he's on the sidelines, and he's still running the joint. More frustration by your handsome and buffed host. Hansman buff toast. Did I say bust toast?

So good day today. We will qualify today as one thing. Down 2,000 up 197 on the Dow. Down 900 up 86 on the NASDAQ. Can we bounce more? Absolutely. That's just in the last four days, by the way. Which, by the way, when I saw that, I was like, wow.

Wow. We dropped 2,000 points in the last. four days. I completely forgot. But we'll take any update we can get. What's the worries, of course? Well, FedEx. That's not good economic news. What's the worries, of course? Everybody's depending on Jay Powell. Here's this quack who's the equivalent of going to a doctor with a broken left arm and he puts a cast on your right arm, and he's still running the joint. Here's this quack that played God with markets, we told you, unimaginable amounts

that bubbled up everything, distorted everything, screwed every saver. Saver's finally making some money now. That's still running the show. And we're supposed to depend on him, and that's what I heard all day today. Well, when the Fed does this and when the Fed does that, really? We've got a $40 trillion market

and a $20 trillion economy, and you're expecting one man to engineer this stuff? They're all insane. We need to get rid of the central bank and just go back to the real world. Markets dictate. The real market, that's you and I. These people are low-lifes that somehow became the head honchos. They don't know what they're doing.

Try letting them run a lemonade stand. Up next, more on the markets. And then we're gone. This is the one only investors' edge. Hello, hello. I'm Malcolm Gladwell, host of the podcast. Smart Talks with IBM. I recently sat down with IBM's chairman and CEO, Arvin Krishna,

and I asked him, how can companies use AI to its fullest potential to create smarter business? My one advice to them, pick areas you can scale. Don't pick the shiny little toys on the side. For example. If anybody has more than 10% of what they had for customer service, 10 years ago, they're already five years behind it. If anybody is not using AI to make their developers who write software 30% more productive today, with the goal of being 70% more productive,

so we are not asking our clients to be the first experiment on it. We say, you can leverage what we did. We're happy to bring out all our learnings, including what needs to change in the process, because the biggest change is not technology, is getting people, is getting people to accept that there's a different way to do things. To listen to the full conversation, visit IBM.com slash smart talks. Success starts with your drive, and American Public University is here to fuel it. With affordable tuition and over 200 flexible online programs,

APU helps you gain the skills and confidence to move forward. Whether you're changing careers, starting fresh, or pursuing a lifelong passion, Our programs are designed for people who never stop. You bring the fire, APU will fuel the journey. Learn more at APU.APUS.edu. Cashflow crunch? OnDak's small business line of credit gives your business immediate access to funds up to $200,000 right when you need it.

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You're listening to. What are we waiting for? Well, what are you waiting for? One, two, ready, go. Action! In the Gester's Edge. With Gary Culpa. All right.

Well, I finished this White Lotus six episodes. It won all these Emmy Awards. I'm sorry it sucked Eh They won like every Emmy Award And I'm like what Remember I told you the offer was magnificent This White Lotus

I'm like The guy must have been doing a lot of ecstasy or quailudes When he wrote this thing It just was And they were all congratulating themselves on the Emmys And so I was like Whoa the storylines It's interlocking idiots

That's what the six episodes were Nothing personal I may be the idiot because they won all the Emmys. Scam Allure. I got a new one for you. It looked pretty damn good, and I knew it was a scam. From AT&T. That somebody added two devices to my AT&T account by the name of Wilson Brown or something.

Call this number, and I did. And, you know, it's a scam. And I let the guy go for 10 minutes. And finally he asked me for my pin code for my AT&T account. And I said, I'm not giving you my pin code for my AT&T. He also wanted my last four numbers of Social Security. I said, I'm not giving you that. He goes, well, I can't help you.

I go, nobody would ask for my pin code. I don't know who you are. And out of nowhere, he starts laughing and says, F you to me. And then he says, FU, you be to me. And I ended up in a conversation with him. It was an interesting conversation. He just started laughing. And I told him, you know, six by nine cells.

But I think they're in Indonesia or Thailand. They're calling from God knows where. So my message to you, you don't give out anything to anybody. You got that? Remember, the IRS is never going to call you and ask for money. The lottery companies aren't going to call you and tell you you won the lottery that you never entered, but send us five grand in a Western Union. If you're a church or if you're at temple and somebody says to you, hey, Gary, just so you know we're in on this thing, where we're buying cigarettes in Florida and selling them in Massachusetts, and we're making 200% on our money.

And you're such a good guy, we want to cut you in. It's a scam. Do I have to do the Prince from Nigeria scam too with you guys? Right? Just remember, I believe people are nice. People are generous. Ain't nobody just handing over money to you out of thin air. Don't give your Social Security number to anybody.

You got that? Don't give your bank information to anybody. Don't give any passwords to anybody. be the steward of your money and be fearful of the unknown and the bigger return somebody tells you the harder you kick them in the grapefruits oh we'll make you 150% just remember if me your wonderful handsome and buffed host can make 150% on something i'm not telling you about it why would i want you in. I'm a nice guy. I'd rather just have it for me. You got that? If somebody tells you they're making

25% a year guaranteed no matter what, run for the hills. It's all BS. It's all a lie. I've never had a losing year. It's a lie. And even though George Costanza says, it's not a lie if you believe it, Oh, it's a lie. So just letting you know I got a little AT&T one, and that was kind of a new one. I don't think I've gotten that one yet. But they're out there and they're good.

And the guy was funny as well. The guy was actually funny. He was laughing. And I told you the last one admitted he's from India and they're just broken. They have no other way of making any money. And I actually felt bad for the guy. He said he's got a family, a bunch of kids. But this is what goes on around the world.

And you can't get them, you can't find them, and that's it. And I told you this story about this lady that lost a half million bucks was going to do a business venture with some guy, and after she lost a half million bucks, they threatened her to go to the IRS if she went and told on them. This is how it works. Just remember, these people aren't nice. They're a bunch of vicious SOBs.

And they will take your last dime. If they took a million bucks from you and you had 10 sets left, they would come back for that last 10 cents. That's who these people are. So please, every dime counts. And now there's an AT&T scam. And I'm sure it's been out there, but it never happened to me. All right, so good day today.

It's a bounce. The Fed's on Wednesday. We'll do a little bit more on that guy tomorrow. We'll expound. Notice the big word, expound. It is a word, by the way. I checked it. We'll do that tomorrow, but just we bounce today.

And frankly, when we were down early, I was surprised that we weren't bouncing and we got it at the end of the day. Could it last, maybe? Could it stop tomorrow? Could? I've been told put calls. Everybody was buying massive amount of puts on Friday, so that means the market's got a rally. Great, but I've heard that eight times in the last eight months. And every time we've seen another low, so we're being careful about that.

It's just short-term stuff. The big picture is most everything's in a downtrend, and trust remains low. Eventually, the bear market will end. We think we'll know right around it. We don't think we're here yet. That all said, have a great evening, drive carefully. And when you get home, do like we do, it is quite simple. Make sure you hug your family.

Make sure you hug your children. They will feel better. You will feel better. I promise. Monday night, Raws tonight. The Giants are 2-0. I forgot to mention that. And I'll be on 4 p.m. tomorrow, Fox News, with Neil Cavuto.

And until tomorrow, same time with this show. Peace out all. Take care. Bye-bye. This has been Investor's Edge with Gary Cult Bomb on BizTalk. To listen to past episodes or to get in contact with Gary, go to GaryK.com. That's GaryK.com. Success starts with your drive.

and American Public University is here to fuel it. With affordable tuition and over 200 flexible online programs, APU helps you gain the skills and confidence to move forward. Whether you're changing careers, starting fresh, or pursuing a lifelong passion, our programs are designed for people who never stop. You bring the fire, APU will fuel the journey. Learn more at APU.APUS.edu. Guys, it's no use putting it off.

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