Investor's Edge with Gary Kaltbaum - AI DAY [12.07.2023]
Episode Date: December 7, 2023https://garykaltbaum.com/...
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Investor's Edge with Gary Coltbaum.
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.
Hey, thanks for being with us today.
Glad you're here, ladies and gentlemen.
Happy that you are listening.
It's an interesting date today.
An interesting date.
I think the last I looked, today's date is December 7th.
Now, when I wake up, when I woke up, NBC happened to be on.
And this is not on NBC, I'm just telling you what was on.
Not one mention on the news that today is Pearl Harbor Day.
Not one mention that it was Pearl Harbor Day.
Interesting.
And I also bring that up because on 9-11, I guess the farther you get away from it, the less, the coverage of 9-11 this year was like not even close to what it used to be.
I don't know if that's good or bad.
I'm not making judgment.
Just letting you know.
because there was pretty much no coverage today of December 7th.
And I don't know if that's meaningful or not.
Just let you know.
Hey, this is Investor's Edge.
Sirius talk about you and everything that affects you.
Little comedy injected, but no comedy right now for obvious reasons.
And if you do not get this radio show in your city, we'll post it at garyk.com.
We'll also post it on our Twitter feed, which is now X.
And if you want us to follow us on Twitter, go to X, put our name in, or press the button at garyk.com.
And of course, you can email me at any time.
You just have to be nice.
And everybody is.
I really have no jackasses anymore sending me stupid.
And it's okay to completely disagree with me.
And it's okay for me to completely disagree with you.
But I will be respectful.
Unless, you know what the unless means these days.
So as you know, we've been spending a few minutes every show talking about what happened in Israel.
And every day that goes by, more stunning things show up.
So let me just give you a little bit of updates.
So you know, the cowardly pieces of crap, terrorists, they're being caught in droves now.
They are putting down their arms as the Israeli military is walking through Gaza.
And as I said to you, if those terrorists walk through that festival without any guns,
the Israeli women would have beaten the crap out of them.
That's what kind of losing wimps these are.
That's what they are cowards, losers wimps.
They're real brave when they got the guns on them.
now please don't hurt me
that's number one
number two
it's two days later
and not one of those three presidents
have been fired
and I must tell you the testimony
was terrible
it was horrible
it was disgusting
their apologies
were worse than the testimony
oh by the way they weren't apologies
they were, let me tell you what I meant.
But as I said yesterday, it's not even what they said.
When you have a chance, go look at the video of them coming out to explain themselves.
They might as well have been reading the menu from the cheesecake factory.
That's how much emotion they had.
They would teleprompter and scripted.
They might as well have been looking at the menu at the cheesecake factory and just saying,
Well, ooh, that bang, bang chicken looks pretty darn good.
Oh, but maybe, oh, dessert time.
Oh, the Godiva cheesecake.
Yeah, I think maybe I'll do that.
But let me go back to the appetizers.
Ooh, that avocado salad.
That looks pretty darn good.
Yeah.
Wow.
Okay.
All right, waitress.
That was the motion they had.
So just so you know, my opinion, they're Jew haters.
They're teaching.
hatred of Jews.
That's their culture on these campuses.
How do we know it?
Just go look at the videos.
And these people, whatever, are about as uneducated doofuses as one can possibly be.
It is so factual that Israel left Gaza in 2005 and just dropped the keys off and got the hell out of there.
There's video of Israel pulling Israelis out of Gaza, crying about being taken out of Gaza.
The occupiers have been Hamas.
They're the apartheid.
They're the scum.
They're the ones if you're gay, you're dead.
Try being a trans.
You're dead.
Yet I see signs trans for Hamas.
Gays for Hamas.
What?
Now, I don't know if these people are doing their home.
or just, you know, there's this thing called, hey, I'm just a follower and let me finish it off.
Here's the shame of this whole thing.
Do you know what CARE is?
It's the Council on American Islamic Relations.
That's what CARE is.
Do you know CARE has a relationship with the Biden White House in how things are?
talked about and looked at
they're in close hands
care happens to be
the most prominent
preeminent
defender
of Islam
here in the United States
against Islamophobia
and rightfully so
anybody
who's racist against
Muslims in this country
sucks. I have
friends that are
Muslim. I have
people that I consider family
that are Muslim.
They're terrific people.
And we don't look at them as Muslim. We talk about
people. So you have this
care and you have
Nihad Awad,
the
care executive director,
the head
Ed Honcho, Top Dog Big Cheese of Care, on video, posted all over Twitter X, and I posted it.
He's happy about October 7th.
He's happy about October 7th.
He's happy at what happened on October 7th.
And it's on video.
I can't wait to see how he comes out of that.
But I was thinking to myself, this man is representative and representing the many from care.
And I would gather most, if not all, disagree with this yachts.
He's just taken an organization down a bunch of notches.
It's unreal.
I'm happy.
I'm happy
about October 7th
where women were raped
by a few men at a time
and then shot in the head as they were being raped.
Babies burned and beheaded.
Children shot.
All videoed and sent to families.
kidnapped
elderly, 30 countries.
By the way, they killed Muslims.
There's not a lot of that talk, is there, that they killed Muslims.
They didn't care.
Just anybody moving.
The executive director said he was happy.
This is what we're dealing with here.
And it's two days later,
and these Jew-hating, racist, bigoted, anti-Semite presidents
still have their freaking jobs.
And my hope is every wealthy donor to these colleges,
whether they're Jewish, Christian, Muslim, whatever,
gives them the big gigantic middle finger
and doesn't give them a freaking dime,
that Congress defunds them,
and then let them figure it out.
Up next, the market.
I got some good things to say.
Look how he segue.
I'm Gary.
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Tommy John underwear is designed for a perfect fit that stays put all day.
They're zero-chafe thanks to four times more stretch than competing brands.
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With over 30 million pairs sold, there are thousands of men out there more comfortable than
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Don't settle for less.
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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.
And for the record.
For the record.
We don't want to have to talk about this at the beginning of the show every day, but it's so vital.
It intertwines so many things about where this country and the world is going.
Culturally, economically, every which way.
I really wish I can turn back the clock.
No, I really do.
I taped last night's debate.
I've watched some outtakes.
Without even mentioning, I think, four people left,
I personally would have been running circles around them.
And in a debate with the guy who's going to be,
the nominee of the Republican Party, I'd be running circles around him also.
They're all missing something very important.
We'll do that another day.
Okay, we segue, because that's what we do here.
We're professional segwagers.
Not the segue you ride, but segue.
What we just simply try to do here is guide you away.
from what you should be away from and towards what you should be paying attention to.
And when wrong, be wrong fast and be wrong small, and when right, try to let them run as far
as the eyes can see, which as we've always told you is the toughest part.
It really is.
It really is the toughest part for me and others that I know.
I did some selling in the last week or two, and some of the cells were terrific.
A couple of them after today are now higher than where I sold.
And of course, because, you know, we're all Monday morning quarterbacks,
hmm, should I have sold?
And of course, the ones that are lower, oh, no, that's good.
The ones that are higher, oh, darn.
But that's the simple goal here.
So we start out with the most important part of the equation.
No, really, it is the most important part of the equation.
No, really, it is the most important part of the equation.
From July to October.
And we don't have to go back years.
We just want to go back a little bit because we've had some terrific, quite the amazing,
quite the amazing change of complexion.
Kind of coast to coast.
From July to October, every day we're saying to you, interest rates are going higher,
oil prices are going higher, and 80% of the market is in downtrends.
And on a daily basis, we were on this show saying, avoid this, that, and the other thing.
Every day.
At the time, we said the only thing really you can look at is some of the oils, not all,
some of the mega cap tech, which is what we did,
we bought some mega cap tech during those months,
and we actually made money while everything got trashed.
At its worst, the Russell 2000 was back to bear market lows.
Bare market lows.
1,000 stocks were at new yearly lows.
And then came the end of October.
And we thought there was a chance.
Well, first things first, sentiment got really extremely.
extremely bearish, really bearish. No, no, no, no, no, no, really bearish. And that's a start.
And then we noticed that the 5% yield on the 10-year cannot be penetrated. And then we saw what we
considered to be potentially, we weren't sure yet, a top being put in place on yields.
Again, wasn't 100% sure. But then the process started.
down only rally up some of the down down only rally up some of the down the stair steps lower on yields
and then oil prices so the exact opposite the things that drove the market down all of a sudden
starts driving the market up so on november 1st we had something called a follow-through day now
I didn't invent the term.
William O'Neill, I don't even think inventing the term.
It just has to do with, it's a characteristic.
It's only one day, and it's just something that we use with along with what we do.
And all that means is it's a characteristic that every time the market got better, one showed up.
But not every time one showed up, the market got better.
but it's a characteristic that always shows up when the market turns.
And all it means is the market puts in a low,
and then a few days later you got this big, gigantic follow-through confirmation day.
But you also need stocks, and you need leadership, and you need constant.
What do I mean by constant?
You need the stair steps to go higher.
And since then, what have we been telling you?
avoid oils
when we
was saying it was oils
and the 80% of the market
that was in down trends
the floor lifted
and then one by one
the stair steps start going higher
where the worst areas
of the down move
have been lifting
airlines cruise lines
they were crushed
and now the straw
Financials crushed, strong.
Housing, blasted, and now they're strong.
Small caps and midcaps, they were dead.
Now strong.
And strong is a relative term.
Just right now, they're in what I call gear recovery mode.
That's all we want to do.
So we're just letting you know coming into today.
That's the story.
And at the close of today,
we'll have that up next with the numbers and much more.
I'm Gary.
This is the one only Investor's Edge.
Guys, it's no use putting it off.
The best time for an underwear refresh is now.
Tommy John Underwear is designed for a perfect fit that stays put all day.
Their zero-chafe thanks to four times more stretch than competing brands,
and their innovative horizontal quick-draw fly is a game changer.
With over 30 million pairs sold, there are thousands of men out there more comfortable than you.
Don't settle for less.
Go to Tommyjohn.com today for 25% off your first order with Code Comfort.
That's Tommyjohn.com code comfort.
Tommy John.
Comfort perfected.
This message is brought to you by the Capital One Venture X card.
Venture X offers the premium benefits you expect,
like a $300 annual Capital One travel credit for less than you expect.
Elevate your earn with unlimited double miles on every purchase, bringing you one step closer to your next dream destination.
Plus, enjoy access to over 1,000 airport lounges worldwide.
The Capital One Venture X card.
What's in your wallet?
Terms apply, lounge access is subject to change.
See Capital One.com for details.
This episode is brought to you by Spreaker.
The platform responsible for a rapidly spreading condition known as podcast brain.
Symptoms include buying microphones you don't need, explaining RSS feeds to confuse.
used relatives, and saying things like,
Sorry, I can't talk right now, I'm editing audio.
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The good news is Spreaker makes the whole process simple.
You record your show, upload it once, and Spreaker distributes it everywhere people listen.
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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.
He's a Cinderella boy.
With Gary Colbomb.
It comes highly recommended.
You're going to feel better if you talk to him.
So, let us continue.
By the way, let me just segue back.
The guy from CARE on Twitter, or they call it X now,
him of it is.
He gives the organization a bad name.
And anybody involved in the organization?
Now, just so you know, I am 100% sure,
a thousand percent sure, he's going to come out and explain himself.
Well, you know, kind of like, you know, well, I meant the Palestinians and I didn't mean the terrorists.
and we know he's full of crap.
And that's what happens right now.
You get caught, oh, no, I didn't, I didn't mean that.
No, I didn't mean that.
And as you know, we don't want anybody losing jobs.
We don't want that for anybody.
But a lot of people are losing their jobs because of the iPhone.
And how stupid people are.
applauding terrorism will have you lose your job.
I just want to let you know that.
If you didn't know, you're in trouble in the first place.
Terrorizing anyone, any race, creed or color or religion,
you're going to lose your job.
The iPhone, and whatever phone somebody has.
Oh, it's an industry.
And I got news for you.
The people against anti-Semitism didn't invent it.
You know who invented it?
The people that are anti-Semitic.
A bunch of the woke Marxist crowd.
Do you know they put up a video?
Oh, I segway it again, didn't I?
They put up a video of, I think it was Harvard or Penn.
Go look.
How they were whining complaining about fat phobia.
That how dare you, you know, when somebody's overweight, how dare you?
How dare you?
And that is a violation.
Not context like genocide.
So they're getting blasted.
They're getting blasted.
And people are losing their jobs.
People are losing their jobs.
I still remember I told you the story.
I was going into a target.
And I held the door open for a girl.
I'm going to guess she was 19.
And she F-bombed me for opening the door.
I said, I'm just being nice.
What?
You think I'm a woman?
I was just being nice.
And if you were a man, I'd open the door for you too.
And she takes out her phone and she starts videoing me.
And I said, I was just opening the door for you.
As she was F bombing me.
And I'm thinking I was going to go on Twitter or something,
but she realized obviously she went home and said,
well, I'm an idiot.
And nothing ever came of it.
But that's what is going on out there.
People are losing it.
The good news is it's a small sliver of society.
I think.
All right, back on.
So we want you to continue to void oils.
And if we start and are able going forward to name other,
sectors you will know the market's worsening here's the good news I can't name other
sectors yet I would avoid oils I would avoid a bunch of the Chinese stocks not all
but a lot of them and then there's a smattering of not good I would avoid a bunch of the
drug stocks I mean gee whiz Pfizer big bear market
What Bristol Myers big bear market in the past we've been telling you to avoid the drug stores CVS and Walgreens even they're turning the corner so we won't tell you to avoid them anymore we certainly ain't buying them but even they are turning the corner so just letting you know how this will work and how this works when markets are better
we continue to keep score.
And very simply, if one day we're able to come on here and say,
I think the financials have topped,
I think this other area is topped.
This other area is topped.
Now, we'll come out and say we're seeing some distribution,
which is heavier selling.
That doesn't mean you're topped.
That doesn't mean you're done.
That doesn't mean the stair steps are heading down.
And that's that.
At the close today, yields on the tenure 4.129.
It was at five.
Oil prices.
My goodness gracious, $74.
$74.
Actually, the light sweet crude for January is $69 and change.
Wow.
You see what the price at the pump is?
Way down.
and that's what's helped.
And then when you have a chance, you go look,
boy, airlines are going higher.
Boy, cruise lines are going higher.
What's their biggest expense?
Oh, that's right, oil.
So these things that were getting murdered,
they're in their own uptrends now of unknown time and price.
We never know how long they last, how far they go.
The regional banks really trying hard.
They've turned the corner, stair steps higher.
We'll see how long it lasts. We're all for it.
And then, of course, there's the earnings reactions.
You have a workday, great gap to the upside.
Unfortunately, as I speak, Lulu Lemon,
gaping to the downside, $21.
Broadcom, which had been a very strong semiconductor name.
I got it down $27 in the aftermarket.
after being up today, $18.
So that's the other party equation,
and we're in a territory now
where there's not a ton of earnings reports.
As we head towards the holidays,
the next big earnings season going to be
around the third week of January.
So there's your story.
And amazingly, oil stocks even lower today,
oil prices even lower.
And may I state for the record,
that's with OPEC trying to get them higher
Now in case you don't know
We are producing the most oil ever here now
The big oil company said
Screw it, we ain't listened to nobody
And they are producing
I think that's part of the equation
The bigger question
And we do not have the answer yet
Is the lower oil prices and lower yields
telegraphing the economy.
Well, I can tell you my own economic channel check.
You know, we just had a 5% GDP.
We're going to do a 1 this time.
Which is not the end of the world.
It's only a quarter.
We'll see what happens after that.
And as far as the market, we'll just follow the bouncing ball.
No breakdown.
as of yet.
Some deterioration recently? None.
You know, we've had some deterioration recently?
Some of the big tech.
What was the strongest today? Big tech.
You know what the announcements today were?
Well, here's the interesting part.
Before today, a lot of the artificial intelligence announcements have been ignored.
Today, advanced micro devices announced something.
Google announced something
Amazon announced something
and somebody else announced
artificial intelligence
and it turns out there's this
artificial intelligence conference
I think it's in New York
and I got news for you
great moves
Google has been dead money
acting terribly
off last earnings report
up 5% today
volume heavy
but just back in range
AMD
not been doing anything
bad reversal yesterday
up 10% today
they came out and said
this new thing mobbed that their thing
of bobbing with
it's gonna add 2 billion bucks
in a nanosecond
market light
up next
what else moved
and whatever else
yeah
I'm Gary this is the one only
investors edge
it's no use putting it off
The best time for an underwear refresh is now.
Tommy John underwear is designed for a perfect fit that stays put all day.
Their zero-chafe thanks to four times more stretch than competing brands.
And their innovative horizontal quick draw fly is a game changer.
With over 30 million pairs sold, there are thousands of men out there more comfortable than you.
Don't settle for less.
Go to Tommyjohn.com today for 25% off your first order with Code Comfort.
That's Tommyjohn.com code comfort.
Tommy John.
Comfort perfected.
message is brought to you by the Capital One Venture X card. Venture X offers the premium benefits you
expect, like a $300 annual Capital One travel credit for less than you expect. Elevate your earn
with unlimited double miles on every purchase, bringing you one step closer to your next dream
destination. Plus, enjoy access to over 1,000 airport lounges worldwide. The Capital One Venture
X card. What's in your wallet? Terms apply. Lounge access is subject to change. See Capital One.com for
details. This episode is brought to you by Spreaker, the platform responsible for a rapidly spreading
condition known as podcast brain. Symptoms include buying microphones you don't need, explaining RSS feeds
to confused relatives, and saying things like, sorry, I can't talk right now, I'm editing audio.
If this sounds familiar, you're probably already a podcaster. The good news is Spreaker makes the
whole process simple. You record your show, upload it once, and Spreaker distributes it everywhere
where people listen. Apple Podcasts, Spotify, and about a dozen apps your cousin swears are the next big thing.
Even better, Spreaker helps you monetize your show with ads, meaning your podcast might someday pay for,
well, more microphones. Start your show today at spreeker.com. Spreaker, because if you're going to talk to
yourself for an hour, you might as well publish it. You're listening to.
What are we waiting for? Well, what are you waiting for? One, two, ready, go.
By the way, I just want to go back to something on the debate last night that I haven't watched all of it yet, but I do know what went on and what didn't go on.
We told you before the first debate, and they've had four right now, if they don't go after Trump with a ferociousness, they shouldn't even be up there.
there because they're just so you know trump is usane bolt and the rest of them are like me
running against usain bolt that's where the poll numbers are and for what i know vivac ramoswamy
kisses trump's ass by the way this guy vivac is just trump junior let's just call it that he's out yesterday
saying that, what was it, January 7th was fixed, that it was planted.
It was done by the FBI.
That's what he, he's now saying that now.
Nikki Haley, didn't touch him.
Chris Christie's been going after him since day one.
And who else has left?
Pence is gone.
I forgot who's left.
Oh, DeSantis.
He touches him a little bit.
If I'm DeSantis, I'm ripping the stuffings out of them.
But no.
And what's going to end up happening now is Trump is still way ahead.
Now, the interesting thing will be, if one person's left, and I think right now, number two is Nikki Haley, then who gets DeSantis, Christy, and Vivek's followers?
and is it get
get them closer to Trump
or does Trump get a bunch of that?
I don't have that answer.
Anyway, I just think
they're all, well, Chris Christie went after them,
but the rest of them, stupid.
You got to know what your target is.
They're not up against Biden right now.
They're up against Trump.
And I think they blew it.
And Trump's going to be the nominee
unless something happens with these, you know, how many charges does he have?
91?
And you do realize he's going to be found guilty of some, and some of them are jail.
And I don't know the timing of it.
And let me say this for the record.
These DAs don't like them.
These prosecutors don't like them.
They can't stand them.
They hate them.
And Trump is stupid.
He keeps blasting them.
You don't get anything out of blasting them.
them. You just piss them off more. And they've got evidence and they have testimony on record
from people that worked with him for him, beside him. I don't know what the outcome is going to be,
how it plays out, but man, he's in harm's way. The dude is in harm's way. And you can say,
it shouldn't have been done, whatever, I'll let you decide all that each and every one of you,
but I deal in facts and reality.
I'm not so sure he's living in reality yet.
And just so you know, I don't mess around with this stuff.
I've studied it.
I've read up on it.
He's in the crosshairs.
We'll keep you up to date.
Okay, so what was the story today?
These companies announcing AI,
I actually came in today, worried.
I'll tell you flat out.
Recently, we've had distribution in the market.
We had a real bad, vicious negative reversal yesterday in the market.
And we're talking to Big Cap Tech.
And they zoomed them up today on announcements.
And we're not going to say they were convenient announcements.
We're just going to say they were.
And it's not the news.
It's how things react to the news.
So let me to describe them for you.
Advanced micro devices.
Up almost 10% today on 123% volume.
And setting up pretty darn well to go higher.
crappy numbers that may be going to start accelerating. That's first and foremost. Booking
Holdings, which had nothing to do with AI today, BKNG, looks like it wants to break out of range
here. The problem, it's a $3,200 stock. If you want to buy 10 grand, you're buying three shares,
just letting you know.
Nvidia
bounced today off the
50-day moving average again
and is just in a six-month trading range
but holding vital support
Facebook
looked to be in a little trouble
made the announcement on
AI
holds the 50-day moving average
today and bounces off of it today
need some more work
Google
which was probably dead
up 5%
today back above the 50 day on volume and now gets watched again by me when for the last
while we'll even have to care about it Amazon they said something today needs to break above
149 sitting tight Adobe these are the big names top 10 hanging in there they report in six days
nothing to do I just took a pretty good profit in it and it's up a few bucks from where
sold because I'm so smart. Apple, edged above a little range Tuesday and is staying there right now.
The old high 198, 23, close at 194 and change. Broadcom, well, we'll see what happens tomorrow.
Closed at 922 today. I got at 900 in the aftermarket, down 22 bucks. They reported earnings.
And it's been under pressure. I sold that. That's a good sell. I sold that. That's a good sell. I sold that.
75 points ago.
Dang.
Take luck over skill any day of the week, ladies and gentlemen.
So those are the big names because the NASDAQ was up 193,
NASDAQ 100, up 234, and I'll be the first to tell you.
I was worried about coming into today with these big names,
but the AI announcements did the trick and the semiconductor index that was under
a little bit pressure.
That was up 101 today.
Holding some support.
And we'll see whether Broadcom
hurts it tomorrow.
Don't know if it will.
We'll see.
Not a clue.
And the fact of the matter is, as we always tell you,
you got conference calls, you got overnight,
so you never know if things change overnight.
And that's your day.
Tomorrow, I should be on with Neil Cavuto in the noon hour,
Fox Business Network.
Check that out.
And you do have a great evening.
Drive carefully when you get a good evening.
home do like I do quite simple. Make sure you hug your family. Make sure you hug your children.
They will feel better. You will feel better. I promise. Have a great one, everybody. Stay well,
be it well. And just remember two things. We're very logical and we give a crap. Have a great one.
Stay well. Bye bye. This has been Investor's Edge with Gary Cult Bomb on Biz Talk. To listen to past episodes
or to get in contact with Gary, go to GaryK.com. That's GaryK.com.
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