Investor's Edge with Gary Kaltbaum - AI with a capital A

Episode Date: August 21, 2023

garyK.com https://garykaltbaum.com/

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Terms apply. Lounge access is subject to change. See Capital One.com for detail. 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 day.

Thanks of being with us today. Glad you're here, ladies and gentlemen. Happy that you are listening. I believe it's Monday. I think it's the 21st. It's 2003. Had a good weekend. I did.

I am now 15 days since I've had. had a back spasm. 15 days. I can't tell you how happy I am. And due to the fact, the pain is so unbearable. This is all good news. I'm stretching. I go in the pool for 45 minutes a day and float.

And, you know, all that stuff. Anyway, again, hope you had a good weekend. Hey, 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 X feed. By the way, X does not work as good as Twitter. Just let you know. I'm going to try and contact Elon. Dude, you need to rehire a few people.

You know, it's just... Anyway, you can email me, just be nice. No, really. I got lots to cover. Big time, lots to cover. In a couple of minutes. First, first, Maui. uh it's over a hundred they're still saying 800 people are missing uh there are thoughts that

maybe it's in the hundreds um that are missing and again as we stated if there's anything if you have the ability to do something five bucks 10 bucks send it in uh the good news is some Big money is going to come and the government's stepping in and it'll get built back. I'm not so sure it's going to have the same old town feel, but I'm sure they're going to do a great job with it. And our prayers are out. And speaking of that, California got whacked. Here's the interesting part. They got hit with a tropical storm.

That's the norm for us in Florida. But somehow a tropical storm in California, there's mudslides and floods up the wazoo and all that. Here, we need a big hurricane for that to happen. Anyway, hope everybody in California, I guess it went through Vegas and it's going up to Montana. You all stay safe. Respect the weather. And regardless of what the liars tell you, we cannot stop. it.

Just remember, they're coming after your wallet. We can't stop hurricanes. We can't stop tornadoes. We can't stop the hot. We can't stop the cold. We can't stop the icebergs. You got me? They're lying.

It's all about your wallet. What we can do is be like me, environmentalist. Be environmental, do everything you possibly can. That's all. Don't be like Al Gore who, flies in private planes and then looks at you and preaches and what's his face? Kerry and the rest of these celebrities. I got to tell you, I have respect for them for coming out there.

I have no respect for being absolute unadulterated hypocrites. So hopefully, I guess they got some flood warnings and flood watches all the way up that west coast. I'm looking at some areas here. Lee Canyon, Nevada. You know what the good news is? You know, they've been complaining about a drought. The Colorado River, and they're going to run out of water. I ain't running out of water anymore.

I can promise you that. Next thing, I have to discuss this. Because what we do here is the markets, the economy, your job, mixed with the Morlocks in Washington, D.C. And if you don't know what the Morlocks are, go look it up. As you know, we have picked apart the politicians left and right. We have no bias. motto they all suck. Some suck worse than others. We believe Joe Biden should be in jail for his corruption. If they ever investigated, they find out he was part of the influence peddling with

his son. There's no doubt my mind. No doubt. It's sitting there front and center. Trump is guilty of a ton of that stuff. But let me tell you now what Trump is even more guilty of. How to hell do you not do the debate? In case you don't know, instead of Trump doing the debate, doing a um with the x-fox guy Tucker Carlson and i believe the interview was pre-taped already and i guess he's going to compete whatever but how do you let well i don't know six seven eight people on the dais get up there for president and you not there oh wait a minute i'm so far ahead of them oh wait that is the stupidest thing i've ever heard in my life how do you not go to that but hey

he's up what 30 points anyway I just think he's nuts you go there and you tell him you stand straight up there and tell him what you think where you take in the country if you want to defend yourself

against the 91 counts go right ahead instead he's given a bunch of people a chance but here's the other part let's leave Trump alone now if the rest of these people that are up there Vivek.

I think Pence is up there. Asa, Hutch, whatever his name is. Chris Christie. Now we know Chris Christie is going to bomb Trump. He's going to beat the hell out of him. If the others do nothing and say nothing, they should just get the hell out of there also. Because they're not there against each other.

They're there against Trump. Trump is like secretariat in the Belmont. So anybody who doesn't say nothing about Trump should be kicked to the guardrails immediately. I got to tell you, if it was me, I'd be wearing a t-shirt that say 99 counts. Seriously, the whole idea now is to catch Trump for the nomination. I'd be wearing a t-shirt 91 counts. And that is my opening statement. I don't know if you have an opening statement.

I would just read off the counts one sentence at a time. And then say, you want to vote for that? That would be me. And I'd rip the stuffings out of them. And then I'd tell the country what I would do with the country. And you know what that is, we the people. Leave you to hell alone. Get out of your way.

Set the conditions. Get out of the way. Trust you. not the Morlocks in D.C. How's that? And the education department, they'd be the first people I have meetings with. First people.

Do you see the grades? You want your jobs? That'll be the first thing I do because the first thing that I would come out of my mouth is the kids, the children, who we're letting down. Why? Because the politicians

of Morlocks. It's been found out in New Jersey that the charter schools are doing so much better than the public schools and the governor came out and stopped charter schools. Somebody ought to kick them into grapefruits. That's how crazy it is out there.

Morlocks. Anyway, that's my take on the debate. That'll be Wednesday with two of my favorite people, Brett Bayer, Martha McCallum. And again, I'd be wearing a t-shirt, 91 counts. I'd be going after Trump like there's no tomorrow because that's supposed to go to. So next, up. I just want to let you know this is the very hot edition of Investors Edge. I have no air

conditioning right now. It's showing 97 in this room, but it's got to be a little less. I got a big fan going overhead. They're not coming until tomorrow 10 a.m. to 2 p.m. to fix the darn air conditioning. And the sun is in my window right now. Shut, though, completely. The good news it's going to be nighttime sooner rather than later. That said, let's segue. The Dow was down 36.97 today. On the New York, there were 33 new highs, 110 new yearly lows, and of that 33 new yearly highs, about 28 of them are really not even anything.

You got that? On the NASDAQ, oh, advanced declines on New York, 1610 up, 23, 16. down. Remember, the Dow down almost 37. The NASDAQ, 1992 up, 2143 down. Cliners led advances. The Russell 2000 was down today. How to hell was the NASDAQ up 206 and the NASDAQ 100 up 241? How? Two initials. AI. What lit the fuse? Analysts. And of course, the first four letters of the word analyst. Well, you can put that together. So up next, we'll explain. And much more. I'm Gary. This is the one only investor's edge. 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 Spreker. 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 people listen, Apple Podcasts, Spotify, and about a dozen apps your cousin's 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. Sprinker, because if you're going to talk to yourself for an hour, you might as well publish it. 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.

Hi, I'm Gary Kalbaum, 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 complimentary portfolio review. number to call is 888-4-22-5559. That's 888-4-2-5-5-9. That's 8-8-5-9. Investment Advisory Services offered through Call-Bomb Capital Management. 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 called bomb it doesn't get better than this I gotta tell you again how the hell how the heck are you the ex-president states been indicted up the wazoo the trying to defend yourself

like no tomorrow and you don't go to debate and you know what he's saying now he doesn't think he's going to do any debates you trump people that love him you better talk to him let me tell you why He's going to lose. He's going to lose. You got to do the debates. He's nuts. You know what he's done? He's sending some of his people there to be at the debates.

What be freaking do? And let me repeat the other part of the equation. If any of these other people that are at these debates do not hit him straight in the forehead, they should be taken. You ever watch the gong show from many years ago? with Chuck Barris. They should just gong the hell out of them, take them off the stage.

That'd be nuts. Anyway, that'll be Wednesday night on Fox News, and it's going to be quite interesting. By the way, Fox Business is going to be doing one at the end of September, I believe. That is correct. By the way, my schedule, changing up a little bit. Next Wednesday, Adam will be doing the show.

and there may be a couple of other days also in that next week. That Monday is, I believe, Labor Day will be off. But those four days after, there may be a day or two. We'll see how it goes. I'll be quite up to my ears in some things. So, as I said, let's segue. That's what we're good at here. We segue.

How is the Dow down 37? with the Russell 2000 down. With new yearly lows swapping, by the way, on the NASDAQ, I've got 186 new yearly lows. On the NASDAQ. You ready for this? New yearly highs on the NASDAQ.

Wait to you hear this. New yearly highs on the NASDAQ, I'm going to name them. Regeneron Pharmaceuticals. That's a big base breakout today on some. drug news. One, something called Remitly Global, R-E-L-Y. Two, and by the way, we're skipping over SPACs or dollar stocks, biotechs that have no sales. Two, and they had to finish up today. That's it on the NASDAQ.

Now there's a couple of oils, PAA and PAGB, but they're actually on the New York also. So we'll call them the New York. But if you want, you'll call them the NASDAQ. But that's it. On the New York, PR, oil, CCJ, uranium, CNX oil, Eli-Lilly, drugs. New Park, that was down, forget it. Civitas resources, oil. Plains All-American and Plains Holdings.

Two oils. Apollo Global Management. Nope, that's a preferred. That's your new high list. So how the heck? Well, the market wrap is brought to you by Investment-Models.com. That's Jim Roarback, one of the great market timers.

No gray areas with the man you're either in or out of the market. But his proprietary indicators, go check it out. MASSMint-Models.com. How did the NASDAQ go up 206 and the NASDAQ 100241? It's a huge move. With the NASDAQ advanced declines 1992 up 2143 down, new yearly highs for two, new yearly low is 186. How is that possible? Two letters, AI. So let's walk backwards. May 25th, Nvidia raised their sales by monumental amount, gaped up. since May 25th, NVIDIA rallied up to 440 and back to where the gap was

to 480 back to where the gap was. Fast forward to last week. NVIDIA. It was back down to 400 bucks last Monday. An analyst came out and said, Best idea! And the stock reversed up.

NVIDIA. Had a good move. Of course, the market's been under pressure. On Friday, the stock was down 20 and finished just down a little bit. Well, an analyst today came out, I'm not making this up. The stock closed up 36 and changed today to 469 in change. An analyst that had a $600 target raised it to $780. Two days before earnings announcement.

What? But here's what happened. with that number one broadcom off of that invidium move it went you know the two words ape blank it was up 39 bucks today 4.76 percent not the biggest deal but this was one of those semiconductor stocks under some serious pressure that helped what else made moves off of artificial intelligence, Adobe. That was up 12 today. On a 34% drop in volume, but bounced off the 50-day hanging in there.

The semiconductor equipment makers, Lamb Research, up 16. On 27% drop in volume, just 2.5% but still up 16. KLA 10 core up 2.6% up 12 in change on a 17% drop in volume. Facebook is only up 2.3% on a 27% drop in volume but these are all the big AI type movers. Microsoft up $5.38 on 22% drop in volume. And just so you know. under the 50 day. And the semi-conductors are up 98,

and of course the semis have been in big trouble as of recent, and trading below the 50-day moving average. Isn't that interesting? Somebody comes out, has a target of 600, the stock's never been higher than 480, and raises it to 780, knowing earnings are coming out in two days, which begs the question,

A, what does he know? And if he doesn't know, what does he do it? Now, leave no doubt. They can announce earnings at least quadruple. Sales up 65, up next. More thoughts on it. This is the one only investor's edge. 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 Sprecker. 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 people listen, Apple Podcasts, Spotify, and about a dozen apps your cousin's 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. Sprinker, because if you're going to talk to yourself for an hour, you might as well publish it.

This message is brought to you by the Capital One VentureX 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. We're listening to. America is talking. Investors Edge. He's got to be pleased with that. The crowd is just on its 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. Okay. So that was it today. It was a narrow semiconductor AI move into earnings in two days, which begs the question, what if forget about disappoint.

They're not going to disappoint. They've already guided way up. What if the guidance way up disappoints? Just remember, it's not the news. It's how things react to the news. The answer is, I don't know. I got an email today. Why don't you buy Nvidia today on this move?

I said they report Wednesday. Yes, so? I said, you go buy it. What do you need me for? That's all. And of course, some Apple was up a buck, which is still lagging badly. Amazon up a buck 80, but filled the gap recently. Google is really an AI play, but only was up 70 cents.

Oracle in AI play only up, I think, oh, 13 cents. It was a selection. few and it just tells you how important the select few still is to certain indices, namely the NASDAQ NASDAQ 100. So Wednesday after the close, NVIDIA expecting $2.8 versus 51 cents. And that all came from their last earnings report and guidance. Sales estimates, if I got this right. 11.1 billion versus 6.7 billion. What is that about 65%? I'm just give or taken. And good move today. At least there was a little better volume on NVIDIA today, less than you would expect. On the others, volume was wanting, as they say. What else today? Palo Alto Networks.

This was Friday, finished up 31 bucks on more than double average volume. I take that back, more than triple. 20 million shares today, average daily volume 6.2. They beat estimates, but lowered numbers going forward and gapped up back into the middle resistance, and that helped out some software names today. So you had a better software day-to-day, and guess what group was under pressure recently? Software, is it still under pressure? I would still call it a downtrend.

But you do know these things can kind of get going. Tesla helped today. Tesla was up $16. today. I didn't really see any news except. It was a little bit of risk on today. And the stock just dropped $87 in the last five weeks. Up 87, up, down 87, up 16.

You're going to have to change that dynamic. But that's the story of today. That's how you get the Dowdown, advanced declines down, up down, I can't see the updown volume yet. New yearly highs, new yearly lows, low is bad, advanced declines negative. But the NASDAQ up 206, which is amazing. And I repeat, it just tells you how important a select few names are. And for all we know, and Viti is going to blow out the up the guidance on Wednesday.

For all we know, we don't. And I will tell you this. It's probably the most positively talked about stock I have seen in ages. Do you know what I mean by that? Wall Street. I think I have found one person in the last, whatever, negative on it. One other name that moved up today, I think about $9.9. That was one also that moved with the,

AI, but that stock just got slaughtered on their own earnings. So that is in a real tight nutshell, that's today. Because otherwise, housing at another rough day as interest rates went higher, financials, not a good day. Off the lows. By the way, the Dow was down 37, was down $2.50 at one time. oils were down housing was down Staples were down

Restaurants were down financials were down Hotels were down The deer caterpillars were down Retail was mostly down A couple of them bounced Again advanced declines Pretty much sucked

For an up 206 NASDAQ Again The big names Which begs the question are they going to continue? Or are they going to go flat on their face? In the last half hour, I have been scanning. I got to tell you, even with this day on the NASDAQ, on the NASDAQ,

except for a couple sympathy plays off of Palo Alto network, nothing's changed. Most things still look bad. in down trends bounced a little bit today still plenty of things were still down today and bounces no volume

and I'm seeing some volume drops of 40 and 50% today on some of the moves so we'll see what tomorrow brings not shrugging off what they did with artificial intelligence today I'm just stating for the record

let's hope they jumped the gun. These analysts. Two of them now. Since in a week. Last Monday and today. Also want to let you know a lot of the machinery,

industrial types, cement, economic types, all topped out. Housing related, all topped out. Housing topped out. Seriously. And they didn't rally today.

Maybe one or two bounced. So stay tuned. It's going to be an interesting week. And of course we have missed a bubble on Friday. He's got the Jackson old speech and everybody's waiting for bated breath while I keep telling everybody. And somehow I've been right as rain on the Fed and yields and nobody listens. Hopefully you are. Just watch yields.

Don't worry about what Powell says. He can't print money so he cannot affect. the bond market right now. If yields keep going higher, and by the way, you hit a 15-year high today at the close. You got that? You hit a 15-year high today at the close. 4.342. The old high was 4.333. Higher, bad. You got that? Higher, bad. Lower, good. But you hit a 15-year high today. We'll know in the next week if it sticks. Hopefully it hits one of these, what we call,

over the moon, over resistance, and immediately right back down. A failed move. We're not there yet. And of course, that's direct involvement in mortgage rates, credit card rates, and some other stuff, that just continues to skyrocket.

We mentioned the other day. The same house in 2020, a $2,500 payment with 20% down, you could have bought a $740,000 house. That same $2,500 payment with 20% down now, you can afford $4.40. That is a huge difference, huge, with a capital H.

And the reason why we have low inventory, who in their right minds wants to sell their 3% mortgage and buy something new? At 7.5 and maybe going higher. Also of note, I don't want to say this, but I have to report it. Moderna and Beyond Tech were up nicely today. The White House is saying we should get additional taxes. I guess there's a little bit of COVID out there or something. So they're on the move. The vaccine companies.

Modernist stock is way down. Big losses. I think sales were down 90-some-odd percent. They got a life. I wonder if the criminals in D.C. have been buying up the stocks, knowing what would come from the White House. Wait, they can do that? oh yeah they can do that we go to jail they get paid another reason why we call them more locks and there's no affection when we use that term we're so tired of all of them we didn't even know

where to start up next other news of the day and whatever else i'm gary this is the one to only invest his edge. 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 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 people listen. Spotify, and about a dozen apps your cousins 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.

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. You're listening to. What are we waiting for? Well, what are you waiting for? One, two, two. Ready go. Action! In the Wester's Edge.

With Gary Kaltba. Boy, oh boy, I am sweating up a storm. Ninety-tenth degrees, it says, here in my office. Air conditioning and broken. We try to get the AC guys in. Can't make it tonight. Really? The good news is my office is upstairs.

I'll get done with the radio. I'll get done with scans. I'll do my webcast and then run downstairs. Do you know a lot of people? In Africa, don't have air conditioning. Do you know how good we have it, by the way? It is amazing how some people live across this world. God bless.

Man, oh man. So let me do some repeating here. Number one, Maui, if you want to send five bucks, go right ahead. They'll take it. California, Nevada, got hit by a tropical storm. I guess they're not used to. it. I'm looking at some video. Dang. I hope everybody stayed safe. Dang. As we always tell you, we're in Florida here. My first week that I moved to Florida from Brooklyn, New York, we had a tornado

go through our apartment. Seriously. We've had hurricanes. I was down in Boca for Andrew. Boca Raton, it didn't hit us there. We went to me and a couple of buddies went down to help out within a day and we stayed down there for two days, it would look like an A-bomb. That's how bad it was. Respect it. We always tell people when you see hurricanes come and get the hell out of the way. When you see bad weather come, get the hell out of the way. Leave your property, you can replace it.

Anyway, we hope, you know, just safe. And in Maui, it looks like just tragic tragedy. and the locals there are just such good, down-to-earth, loving people. And we read a story about a family was found in a car. Just very tough to take. You know, we talk about you and your markets, whatever. That means squat compared to your family, compared to your health. Just, you know, we'll call it night and day.

this week here's of import again Wednesday is going to be Nvidia that is the number one stock in the market now

no good not kidding it's the number one stock in the market to watch where what we call the beta people are going I think it is usurped Tesla

other names that are reporting this that we think are important. First off, I forgot, did I mention China? Was down overnight again. The Hank Sang 327, all the news I'm getting out of there is terrible. The property developers, there's deflation, there's all kinds of talk. China is now lowering rates. That's how bad things are getting.

And that just tells you when the government tries to take everything over, you get in trouble. And they're very much debt-laden. so that's not good. Baidu reports tomorrow before the open. Lowe's, that'll be of import to a certain extent. Urban Outfitters has been a strong retail. Dick's sporting goods has been a stronger retail. Wednesday, Abercrombie and Fitch, almost a new yearly high,

analog devices in the semiconductors, semiconductors, coals, a dead retail stock. Even Peloton's reporting, God only knows what they're going to report. With NVIDIA, Snowflake, Splunk, Network Appliance, Autodesk, and the rest of the week, you got Burlington, Dollar Tree, a couple of Canadian banks, Intuit, Workday, Alta Salon, which is no longer a strong stock. So there's not many names, but there are of import. And then Friday, you got this Jackson Hole speech, and let me explain that to you. In the past, Mr. Bubble would try to send a message during the Jackson Hole speech, and last year the market cratered a thousand points after that speech.

That's where one of the Nimrods from the Fed said he was happy, the market was down a thousand points. If I met him, I'd kick him in the grapefruits too. Oh, you like people losing their money? You like 401K's going down? You stoop? I forgot which guy it was. The guy used to run the New York. Fed. So that'll be Friday also. And we'll see where the market takes us. All I can tell you today,

take out a select number of names, bigger tech types that have been under pressure and the semis, market looks, blah. Financials act terribly. City Group, another low today from the debacle Silicon Valley Bank. Think about that. You had a bank crash Silicon Valley Bank. You've had a rally up and Citigroup now is below those lows, which has me posing a question, what's up? Other banks are doing the same. One would have to figure rising rates, loans, not as many, margin may be squeezed, who the heck knows. All we can tell you is we're staying away from the banks right now. J.P. Morgan's the only one with a semblance of order just holding on to the 50-day moving average. Housing stocks now topped out, interest rates

higher. Utilities topped interest rates higher and a whole smorgas board of sectors in bad shape. With the NASDAQ, with its oversold bounce today, off of NVIDIA, into earnings. Welcome to Wall Street where people are courageous. I wouldn't buy Nvidia two days before earnings. Harnack the Magnificent. I have no clue what's going to happen. And my only worry, they're going to be good, is all of it factored in. Is all the excitement already in it? Wednesday after the close. That all said, you have a great evening and drive carefully. When you get home, do like we do. First off, we're getting the hell out of the office. It's too hot in here.

Make sure you hug your family. Make sure you hug your children. They'll feel better. You'll feel better. Until tomorrow, peace out. Everybody. Thanks for joining us. As always.

Good night. 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 garyk.com. That's GaryK.com. This message is brought to you by the Capital One Venture X card. Venture X offers the premium benefit. 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.