Investor's Edge with Gary Kaltbaum - A Little Pullback...So Far!

Episode Date: August 17, 2022

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

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Starting point is 00:00:35 eBay, things people love. Investor's Edge with Gary Cultbaum, straight talk about you and your money. Now from the BizTalk Studios, here is Gary Cultbaum. And welcome once again to Investors Edge. I'm Gary Coltbaum, your host. A thanks for being with us today. Glad you're here, ladies and gentlemen, happy that you are listening. no really happy that you're listening it's august 17th it's 2020 it is wednesday hope you're having a good day lots to cover as usual because i have such a big mouth on so many different things that are of import to you and we thank you for listening uh before i forget and i always do tomorrow i will be on
Starting point is 00:01:24 with Stuart Varney on the Fox Business Network, 9 o'clock hour. I'm allotted like two, three minutes right before market opens. No, really. But that's okay. We'll take two minutes, three minutes or ten minutes. It doesn't not matter us. We're honored and privileged that they would even ask. And as always, every day at the same time, we, well, no, I take that back.
Starting point is 00:01:50 We post it pretty much at the same time every day at GaryK.com. We're having some trouble posting the apps. I think it's going to the apps, but I'm not able to post it. We'll figure that out. Right, Mr. Producer? Right. Okay. Yesterday, your handsome and buffed host, who continues to be handsome and buffed,
Starting point is 00:02:19 took pains to just, while things are swirling around you, try and have your feet on the ground. Try. Of course, it's all your decision. And what did we do yesterday? Well, we're just worried about all this froth and speculation a few weeks off of a confirming low of a brutal bear market that may or may not be over. and we use the terminology yesterday stunned. We're absolutely stunned at what we are seeing.
Starting point is 00:03:17 So we'll just repeat for one minute, just know what you're getting into, and know two things. Don't be the last one in, and everything eventually goes back to where it should go. That's all. Now with these short squeeze stocks, they've had some shelf lives after dropping 90% and then rallying back up. Hopefully you catch the rallies back up and you get the heck out before.
Starting point is 00:03:51 They crash them again and they will crash them again. How do we know? It's what happens 100% of the times. Valuation always matter. froth in speculation always eventually gets hammered. And as we said yesterday, we don't know what tomorrow brings. We will tell you that AMC, the movie, dropped 14% today, down 345, the bed, bath, and beyond the insanity of that, hit a high today.
Starting point is 00:04:28 I didn't even see this, I must have missed it. Let me make sure that's a, Good print. Yeah, I guess near the open. They had it up to 30 bucks near the open. Close to 23. Last I look seven bucks on 30 is about 23% off the highs. If you bought it wrong, not good news. So just, and I have this sneaking suspicion, we'll have to warn you more going forward. and of course the other part of that equation and the worry for the market is we can't remember any real bottom in bare markets that was accompanied by massive froth and speculation and we had the biggest one stock froth move we have ever seen in our history and it has really not been covered that's simple hkd a h k d a hong kong company that's involved in finance, $24 million in revenue came out,
Starting point is 00:05:36 a $7.5.5 IPO, what opens at $14, goes to $255 within days. Now, granted, you really couldn't trade it. I was watching that last day, there was $300 spreads. How do you like to buy a share or something with a $300 spread? You couldn't short it on the way down,
Starting point is 00:05:59 and at the highs had a $450 billion market cap with $24 million in sales. That's the worst we've ever seen, that one name, just a few weeks off of what may be a bare market low. So we'll keep watching. We'll keep reporting. We hope you protect your capital. Know what you're in. What's the word capish? I think that means you understand in some language.
Starting point is 00:06:41 I don't even know. Okay. Let me start off with this and end it quickly. For a good many months, I was telling you how Joe Manchin was a hero of mine in that he was stopping more nonsense, more con artistry coming out of Washington, D.C. He now signed off on a bill called the inflation reduction bill, and the day after, he signs off, you know what he tells us? Oh, we never told you inflation would be reduced because of this bill anytime soon. So just another, and again, we don't say anything we wouldn't say
Starting point is 00:07:28 to their faces. Joe Manchin is just another con artist in D.C. We're told he was given some gifts for Virginia, I don't know, I don't even care. Just another. the con artist. Washington, D.C., our leaders, came out with a bill that is just tax and spend, got in a room and said, what is our worst poll numbers about? Somebody said inflation, good, let's call it the Inflation Reduction Act, and they shot the big middle finger out, each and every one of you. They lied.
Starting point is 00:08:12 The scums that said Trump was a liar for four years lied in plain sight to you and me. Hey, you on the left that loves Biden, you were lied to also. No journalist is asking where this money is going to? Who's getting it? I will promise you it's a bunch of friends, relatives, close-knits that are going to be getting the grants on climate that will do absolutely nothing for climate they're now telling us we'll save money if you buy solar panels or an electric vehicle and get a tax credit not only are they liars they're insane yeah i'm going to spend 60 grand on
Starting point is 00:09:11 electric vehicle but get 7,500 back and that's going to lower inflation. And you want to know why I'm so pissed off and so frustrated? The absolute con artistry of this man and the rest that foisted upon another piece of bull crap onto this economy. The IRS, they say they're going to go after billionaires. They ain't going to get any money from the billionaires. They're the ones that give all the money to politicians. You think they're going to go after them?
Starting point is 00:09:59 They're their friends. And what else are the billionaires know? Every loophole, every tax law with their higher paid attorneys and accountants. Who are they going to get the money from? Oh, above the $400,000. Because those are tax cheats. That's what they're telling us. Little did we know that anybody who may be.
Starting point is 00:10:23 makes above 400,000 years a tax cheat. But what if people didn't cheat? Where are they going to get the money from? You catching me on this? Just remember, we're logical here. We have no bias. It's easy to figure this out. It's easy to simplify it. They've screwed you and me again. We had two heroes in mansion and cinema. We found out them to be. be nothing but con artistry. Vote them out wherever they're from. Let's find people
Starting point is 00:11:04 that believe in we the people. I don't think they're too many. Up next, market wrap, Movers of the Day. Lots to cover. Different day today. I'm Gary. This is the one only Investor's Edge. Hi, I'm Gary Kalbaum. Hosted a nationally syndicated radio show Investors Edge. We're not just handsome
Starting point is 00:11:44 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
Starting point is 00:12:09 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 888-4-22-5-5-9. That's 8-8-5-59. That's 888-4-2-2-5-9. Investment Advisory Services offered through call-bomb capital management. Hi, I'm Dr. Jake Goodman, host of Beyond the Script,
Starting point is 00:12:46 the podcast where I sit down with pharmacists to answer the health questions you didn't even know you could ask at the pharmacy counter. In this episode, we are diving into gut health with CVS pharmacist Victoria Motola, who explains why so many of us live with stomach issues we should not accept as normal. A lot of what I see is just like chronic bloating, chronic stomach aches. Like I get a stomach ache every time that I eat. And it just becomes like a lifestyle where, oh, yeah, you know, I just have a stomach kick every day or I'm constantly feeling like gassy. And all of those things are not something that
Starting point is 00:13:23 generally if you have a healthy gut, you should be living with. So that's when we deep dive. We deep dive into your medication. We deep dive into your OTC medication. And then at that point we can probably identify something that we can change. Hear the full conversation plus some fascinating facts about how gut health affects so much more than just your stomach on Beyond the Script, a podcast from CVS Pharmacy and IHeartRadio. Listen now wherever you get your podcasts. Success starts with your drive, an American public university is here to fuel it.
Starting point is 00:13:57 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. APU. APUS.edu.edu. It's time to switch on the integrator units and get the brain cells working.
Starting point is 00:14:29 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. Welcome once again to Investors Edge. Can you feel my frustration with almost 31 trillion of death?
Starting point is 00:15:07 That means they spent 31 trillion more than they were supposed. do. A bunch of them are retiring. A bunch of them have been there for 50 years, including the president. Schumer has voted on 25 trillion of it. Pelosi. We're just talking about when they got into D.C. Pelosi, 25 trillion. I think McConnell, 25 trillion. They're laughing at us. They're taunting us. And I don't know how to do it, but if we ever got a few million people on the lawn of the capital. Just yelling at them. And we're not talking January 6th, just
Starting point is 00:15:48 enough. Balance budgets or you're fired. Term limits. Whatever we got to do to change the trajectory. You do realize the outcome of this. What you just saw recently is a
Starting point is 00:16:07 snippet caused by one man in printing of $9 trillion bucks. In order to cover all that debt, It's just a snippet. They are our opponents. They're not our advocates. There was one thing in the bill that I think was good.
Starting point is 00:16:34 Medicare is going to compete on price. Why didn't that happen 20 years ago? Aren't they supposed to do that anyhow? Negotiate price. What a concept. What do you think Walmart does when somebody wants to supply something to them? They sit down with them and negotiate on price based on how many. Meet to tell me government never did that, as big as government is?
Starting point is 00:17:04 Insane. We'll keep you on top of it. Hey, we've been telling you that market stretched and extended away from the norm. Dose of froth and speculation could get a pullback, but you don't know when because it can random. We didn't predict anything today. We always tell you we don't know about tomorrow. They pulled it back today. the interesting part about today is the fact that they pulled it back pretty good. They rallied it.
Starting point is 00:17:37 Don't ask me why. The J. Powell released the minutes of their last meeting from a month ago and the market rallied. And then it's sold off again. And you know what I think of them. So, and it would have been worse today except somebody upgraded Apple. And Apple is, I think, 8% of the S&P, 12% of the 7%. 11% of NASDAQ 100. So Apple was up a buck something today.
Starting point is 00:18:09 If Apple had a normal day on a down day, it would have been worse. But everything does count. So today's market wrap brought to you by Investment-Models.com. That's Jim Rohrbach, one of the great market timers. No gray areas with demand. You're either in or out of the market. With his proprietary indicators, go check it out. Investment-dash-models.com.
Starting point is 00:18:31 Not a biggie. Dow was down 171. was down 300. S&P down 31, NASDAQ 164, was down 239, NASDAQ 100, down 164. The semiconductors were weaker than most. I think it was down like 110 at the lowest. Finish, still down 75, not great. Transport's down almost a juicy 300.
Starting point is 00:18:51 I've yet the scan, can't wait to see those. Oil prices up, yields up. And I just want to make note. You know how we explain to you? steer steps, stair steps in the market. We're watching yields closely, yields, the yield on the market. We're not 100% sure, but we can draw a line. I'm going to call it somewhere around 2.65% on the 10 year with one little undercut that finished above it. If we start making higher lows in yields? Not so sure that's great news, considering the market is really
Starting point is 00:19:46 moved hand in hand. And then there's oil prices. Just so you know, I can draw a line on the USO, which is spot price for oil. Okay? Right at about 70 bucks going about eight weeks. one, two, three, four, five, seven weeks, which happens to be the 200-day moving average, but I can extend that line back to April when it held about there, and I can actually extend that line really to February, even though two days in March you fell below that line, but only for a couple of days.
Starting point is 00:20:29 If that area holds and then rallies up, oil prices, not so sure that's good news. If the USO breaks, let's call it $69. That's good news. So you're kind of sort of at Fisher Cut bait time for some very important oil prices here. And I'll add in the yields. The good news is oil prices have not been able to get going off of these levels, but have been holding those levels. So just letting you know a couple of important things that we're watching. Of course, what else we're watching is the semiconductors. Rough day-to-day, though off the lows.
Starting point is 00:21:22 Not good to see semiconductors weaker than most things. And just most everything came in except Apple got an upgrade today. And we're not going to make fun of an analyst who wait for it to go from 129 to 173 to upgrade it. Okay, we will. little bit. Is that okay? Is that mean? Anyway, today was a normal pullback day. I wouldn't go any further than that. When I do my scans tonight, I'll tell you what I'm looking for. Anything break down? Why do we do that? Because the more stocks break down, the weaker the market is. You remember when the market was topping out? Little by little piece by piece, inch by inch, stock by stock was breaking down.
Starting point is 00:22:18 and we reporting every day, another 10, another 20, and under 30. New yearly lows picking up the whole works. So we'll be looking for that. And again, we haven't done our scans yet. We saw a few names, but nothing untoward. I think untowards a word. We'll be looking for weakness. It's easiest to isolate weakness when the market's rallying.
Starting point is 00:22:45 Why do we do that? Because we don't want to own that stuff. And potentially on the shortable side. what's the mantra? If they can't rally them when the market's going up, what happens when the market comes down? Up next, what else are going to be watching? Much more.
Starting point is 00:23:04 Thank you for being here. I'm Gary. This is the one only investor's edge. Hi, I'm Dr. Jake Goodman, host of Beyond the Script, the podcast where I sit down with pharmacists to answer the health questions you didn't even know you could ask at the pharmacy counter. In this episode, we are diving into gut health.
Starting point is 00:23:42 with CVS pharmacist Victoria Motola, who explains why so many of us live with stomach issues we should not accept as normal. A lot of what I see is just, like, chronic bloating, chronic stomach aches. Like, I get a stomach ache every time that I eat, and it just becomes like a lifestyle where, oh, yeah, you know, I just, I have a stomachache every day.
Starting point is 00:24:04 Or I'm constantly feeling like gassy. And all of those things are not something that, generally, if you have a healthy gut, you should be living with. So that's when we deep dive. We deep dive into your medication. We deep dive into your OTC medication. And then at that point, we can probably identify something that we can change. Hear the full conversation, plus some fascinating facts about how gut health affects so much more than just your stomach on Beyond the Script, a podcast from CVS Pharmacy and IHeart Radio.
Starting point is 00:24:34 Listen now wherever you get your podcasts. 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. So what do this animal...
Starting point is 00:25:10 And this animal? And this animal? Have in common? They all live on an organic valley farm. Organic Valley dairy comes from small organic family farms that protect the land and the plants and animals that live on it from toxic pesticides, which leads to a thriving ecosystem and delicious, nutritious milk and cheese. Learn more at ovi.coop and taste the difference.
Starting point is 00:25:42 We're listening to. America is talking. Investors Edge. He's got to be pleased with that. The crowd is just on his feet here. With Gary Coltbaum. It comes highly recommended. You're going to feel better if you talk to.
Starting point is 00:26:11 Hmm. Hmm. Just looking at earnings afterwards. Hmm. Hmm. Hmm. Hmm. Hmm.
Starting point is 00:26:24 You know what I'm actually looking at? There's a company called Wolfspeed. Symbol Wolf at Semiconductor. Is giving guidance for 2026. Stock close at ADC. it's 100 in the aftermarket. They're raising guidance for 2026, and the market's believing that?
Starting point is 00:26:43 Like, nothing can happen between 2003 and 226? What the heck is going on here? Cisco Systems, a 1990 stock. They reported earnings, flat, revenue's flat, no growth. Stock's up a buck and change in the aftermarket to 48 bucks.
Starting point is 00:27:05 That used to matter. the stock, and it matters to a certain extent, but it's just, you know, let me put it this way, the stock is lower than where it was in the year 2000. And it was one of the names you had to Ogan for Life. What else I might be looking at here? Well, we've had some really weird reactions to crappy numbers, rallies on real crappy numbers. Is that going to be changing? And I bring that up because analog devices.
Starting point is 00:27:45 One of the semiconductors I follow. Down nine bucks today on earnings. Was down 13 until the market rallied a little bit. But still down nine bucks. Not sure you want to see that. So we're going to be looking at that. Remember, weight of the evidence. Put it all together.
Starting point is 00:28:07 But as of this second, we're pulling back with some warts. And with some froth inspection. Which to be clear we hate. Oh, and by the way, Best Bed Bath and Beyond is down another two bucks in the after the market after being up nine bucks today and finishing up two bucks. It's now flat in the after market. I don't see any news. Guys, gals, just please be careful. We love you.
Starting point is 00:28:36 We do. Most of you, we haven't met, but we love you. The fact that we even listen to us, we love you. Protect your darn capital. Okay, if you want to play these things, small risk capital. Don't drive yourself up a wall. Imagine you bought Bedbath Invia at 30,
Starting point is 00:28:56 and as I speak now, it's up, it's 21. That's no hill for a climber. And again, what have we told you? We think it's worth $4. Will it go to $4?00? I don't know. But we've been pretty damn good calling. Rivian, we said, was worth $20 when it was $160.
Starting point is 00:29:16 and on and on and on and on and on and on and some of the other short squeeze crap came in today also what else we're watching well i haven't looked yet there were more new yearly lows today on the nasdaq than yearly highs what and there was just as many new yearly lows on the new york than the nazdak what now i haven't looked what those lows are. They could be non-operating companies for all I know. What's a non-operating company? Oh, it could be a preferred stock or a bond fund, something to that effect. But I'm still making note of it anyhow, and you can find those anywhere online yourself. We're watching that. And then we're watching to see if any names busted above range in the last week or so, and then tuck their heads in like frightened turtles. That's a Seinfeld episode quote, by the way.
Starting point is 00:30:34 Seems like everything we quote is from Seinfeld or the office these days. No, we don't use that line from the office, by the way. You know which one, Michael Scott says, right? We don't do that here. So those are the things we're watching, but all we can say to you right now, eh, we had a down day. That's all. Don't want to go further than that.
Starting point is 00:31:00 some things worse than others. I will say it was a distribution day in that volume did pick up. But I have Newsfe also. And we showed in our webcast last night. We're stretched away from moving averages and normally you get pullback, stalling, sitting, whatever. But you don't know when.
Starting point is 00:31:23 Today happened to be the day. What else are we watching? Apple, Tesla, Amazon, Google, Microsoft, 42% of the NASDAQ 100. for obvious reasons. And they hardly, Apple was up today, they hardly budged everything else. I can promise you, if we ever come in here and do this show and say, hey, just want to let you know, three out of those five have broken down,
Starting point is 00:31:56 that would be one heck of a signal. So those are the things we're watching. But I repeat, we had a down day. Don't want to make much more of it. And yeah, we know. many people saying this is just a bare market rally okay we'll find out in due time
Starting point is 00:32:27 that's how we look at it but I must tell you again the one thing that's sticking out for me is after the close this symbol WOLF closed at 85 it's now 100 they gave they said in the year 26 revenues will be up 30% higher than they expected 26 they're semiconductor company.
Starting point is 00:32:53 What if somebody comes with a chip that's quicker, faster, better? Before 26. I'm going to have to investigate that one. I don't think I've ever seen that before. Quite the weird. And that's the little overall view. I can pick out some bad and pick out some good. But what you also want to do now is you need to cull.
Starting point is 00:33:26 C-U-L, another big word from me. Weakness. If you got some names that haven't moved off their lows in the last six weeks, dudes, they ain't keeping up. You got that? We've got that list of names already, and we're going to see if they break the lows, probably be shortable. So be, uh,
Starting point is 00:34:01 it's a good time to really review. Because again, if they can't rally them, when the markets are rallying, that's a problem if the market's turned down. A big problem. Typically, those are the names that will lead down. And that's the big take. A down day. They'll probably just gap it back up tomorrow.
Starting point is 00:34:34 Isn't that what they've been doing lately? Shrugging things off? Down day, I go screw. Watch oil. Watch yields. We'll know a lot more going forward. and pay no attention to the perma bears pay no attention to the perma bulls
Starting point is 00:34:57 especially the perma bulls because if we go lower that's losing money not being in because of perma bears as we go up doesn't mean you're losing money it means you're not making money and be careful be careful valuation matters price matters and we loathe
Starting point is 00:35:38 to see what's happening with the few of these names. And we know most people hear about them after they've had big moves up and end up getting screwed. Don't get screwed.
Starting point is 00:35:57 Markets are tough enough, let alone handing the money over. It's like betting on the lotto. Up next. This, that, and the other thing. Whatever else, thanks to being here. I'm Gary. This is the one, only investors' edge. I'm Dr. Jake Goodman, host of Beyond the Script, the podcast where I sit down with pharmacists to answer
Starting point is 00:36:52 the health questions you didn't even know you could ask at the pharmacy counter. In this episode, we are diving into gut health with CVS pharmacist Victoria Motola, who explains why so many of us live with stomach issues we should not accept as normal. A lot of what I see is just like chronic bloating, chronic stomach aches. Like I get a stomach ache every time that I eat. and it just becomes like a lifestyle where, oh, yeah, you know, I just have a stomach kick every day. Or I'm constantly feeling like gassy. And all of those things are not something that generally, if you have a healthy gut, you should be living with. So that's when we deep dive.
Starting point is 00:37:31 We deep dive into your medication. We deep dive into your OTC medication. And then at that point, we can probably identify something that we can change. Hear the full conversation, plus some fascinating facts about how gut health affects so much more than just your stomach. on Beyond the Script, a podcast from CVS Pharmacy and IHeartRadio. Listen now wherever you get your podcasts. Success starts with your drive, and American Public University is here to fuel it.
Starting point is 00:38:01 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. So what do this animal...
Starting point is 00:38:26 And this animal? And this animal? Have in common? They all live on an organic valley farm. Organic valley dairy comes from small organic family farms that protect the land and the plants and animals that live on it from toxic pesticides, which leads to a thriving ecosystem and delicious,
Starting point is 00:38:49 nutritious, milk and cheese. Learn more at OV.coop and taste the difference. You're listening to What are we waiting for?
Starting point is 00:39:00 Well, what are you waiting for? One, two, ready, go. In Investors Edge with Gary Culpa. And welcome once again to Investor's Edge.
Starting point is 00:39:28 By the way, I was not predicting we would gap up tomorrow. That's my sarcasm. Thanks for being with us today. in the news that I thought is of interest. The CDC Centers for Disease Control and Prevention. Now, I must tell you, I really never have complained about them.
Starting point is 00:39:49 There are many that have complained about them. The reason I haven't complained about them because this thing with the pandemic and COVID is new stuff. But they're actually coming out and saying themselves made some, quote, pretty dramatic, pretty public mistakes in tackling the COVID-19 pandemic. And they unveiled a shake-up of personnel and policies designed to improve its response to emergency situations. I give them credit for being introspective to do better going forward. I know there's a lot of, you know, Monday morning quarterbacks and backbenchers that,
Starting point is 00:40:30 you know, basically, oh, you guys suck and got it all wrong and the mask this and the mask, that and this, that, and the other thing. I had news for you. A lot of this crap was plain old new. Plain old new. But they're actually saying, yeah, we think we missed on things and we are going to address it. So good for them. Secret to life is always be paranoid.
Starting point is 00:41:03 Always look over your shoulders. Always try to do better no matter what. Maybe they got the secret. We'll see what the outcome is going to be. in the news. I thought this was of note. Liz Cheney out on her ear in Wyoming and was
Starting point is 00:41:24 absolutely destroyed an absolute landslide. In case you don't know, I think this is the right number. The last time she ran, she got 73% of the vote or was it 83? It doesn't matter whether there's 73 or 83.
Starting point is 00:41:42 And here is what happened directly. she went on the impeachment, not the impeachment, the January 6th committee was one of the heads of it. There was a couple in the Republican Party, and Republicans got pissed off at that and told her to take a flying leap. And they brought in this other woman, I'm going to hold judgment on this other woman, and just kicked it to the curb. It did not matter. listen carefully. That, her voting record in Congress, was like 100% conservative. Voted, I think, 99% of the time with Trump.
Starting point is 00:42:30 But that move, good night. See you. Have a nice life. And I don't know what she's going to do next. But that's exactly what happened. Stunning. Stunning. Or maybe not stunning.
Starting point is 00:42:53 I must tell you, Trump, people dig them. Heck or high water. Amazing. That's such a big story. It's a huge story. Anyway, Liz Cheney, good night. And I must tell you, from they call themselves conservative Republicans, you should see the vitriol against her.
Starting point is 00:43:23 that I see in the places I visit. Big time. Big time. Because she went after Trump. That's the only, if she didn't do that, landslide. Again, nobody could touch her. Next, Target. Dropped only five bucks today.
Starting point is 00:43:50 Profits dropped 90% year over year. stunning Remember Target was the original they misjudged I guess inventory and they end up with a ton they had a discount the hell out of things so did Walmart Walmart work through it
Starting point is 00:44:13 Target I think worked through a bunch of it but still reported an 89% drop and how much money they make off the merchandise they sell minus expenses last year the July quarter they made $3.64 a share this year, 39 cents. The stock is lucky. Lucky. We're not in a
Starting point is 00:44:42 major downtrend right now again. Right now in a little bit with this uptrend off the lows. Or else, if you own target stock, I'm not going to tell you buy, sell, short a cover. I'd be reviewing. And if you see the market ticking down and getting in trouble, I'd be watching it. Remember, it is earnings. That is the driving force. And it's really stunning again because Target's been a very well-managed company.
Starting point is 00:45:16 Very well-managed company. By the way, Bed Bath and Beyond is down another buck and a half in the aftermarket, giving back the whole gain today. I don't see any news in the aftermarket except they lost a crap load of money and sales were down 25% year over year. I visited a couple times. They got everything I need if I ever go in there. I got no complaints.
Starting point is 00:45:45 Cisco Systems is now up $2.30 to $49 in the aftermarket on their flat earnings and flat sales. Flat. And as we've told you, that's 15 Dow points, maybe moves a needle a little bit on networking stocks tomorrow will see but earnings flat revenue's flat
Starting point is 00:46:09 we'll hit a wall somewhere in there didn't see anything on guidance that gets me all excited either but price and that's the day so it's a pullback day not going any further than that tomorrow's another day
Starting point is 00:46:28 don't forget Varnie and company tomorrow in the nine o'clock hour actually right before earnings before the open in the market. And we'll be right back here tomorrow for this show. Until then, have a great evening. Drive carefully. And when you get home, do like we do, it's quite simple.
Starting point is 00:46:47 Make sure you hug your family. You hug your children. They will feel better. You will feel better. Stay in shape. Alcohol sucks. The lot is a scam. And marijuana, don't even ask.
Starting point is 00:46:59 Have a great one, everybody. Thanks for joining us. Honored that you're listening. Bye, bye, all. This has been Investors' Edge with Gary Cult Bomb on BizTalk. To listen to past episodes or to get in contact with Gary, go to GaryKK.com. That's GaryKK.com. Today's episode was brought to you by Simple Mills, the feeling of the sun in a delicious snack.
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