Investor's Edge with Gary Kaltbaum - Another Hopeful Reversal.

Episode Date: May 2, 2022

More Info At: http://garykaltbaum.comMore

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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 Kalpom, your host day.

Thanks for being with us today. Glad you here, ladies and gentlemen, happy that you're listening, Monday, May 2, 2022. Thanks for being on today. Hope you're having a great day. I was in New York this past weekend, and I must tell you, I had no idea. airports I didn't have to wear a mask airplanes I didn't have to wear a mask I well I guess I wasn't keeping up with the airports and airplanes

but I think in some places I did in New was it New York or New Jersey I don't even remember but I'm telling you we're opening it's better it's cool it's good now let's hope the people that run the joint know what the hell they're doing because you know what we think. Hey, this is a show about everything that affects you because all they do is interfere with you. The economy, your job, your employment, the markets, everything under the sun we cover without

agenda, ulterior motive, or bias. Why, we can't stand any of them. They have earned that right with 30 trillion of debt, massive deficits, assonine, ass a 10, ass 11 proposals. And I can go on and on. But that's for another day. If you do not get this show in your city, we'll post it at garyk.com. We'll also post on our Twitter feed.

You just follow us on Twitter. Put our name in or at garyk.com. Press the button. You can email me, just be nice. And by the way, since the announcement of Elon Musk, our Twitter feed's been picking up a lot. Remember, I had thousands and thousands and thousands and thousands of more followers, and within a week, a bunch of them are all gone.

Slowly but surely, they're all coming back. There is no doubt in my mind, Twitter been playing. Well, I take that back. The people at Twitter have been playing. And I'm small. I'm not like some of these people with two million followers. Anyway, we have a lot to talk about today, market-wise. We know we're getting one of those days by how many emails we get.

And I would love to tell you, I'm thrilled by all the emails we got today. But you know what we found by the closed people. We're emailing us a little too much on the bullish side, but we'll go through that, I had to start with something else because, as usual, we were right again on something that really does have everything to do with you and your money and the markets and the economy. Because as we have told you, never in our lives, never in the history of our time, has the government and people and media taken over like they have. driving the bus

trying to persuade production meetings in the morning can't talk about that got to protect that side got to talk about that got to blast that side they don't care about you what did we tell you soon

Elon Musk was going to be the Antichrist he was going to be Hitler Mussolini Stalin all put together and that's exactly what's going on. All of a sudden it's the end of democracy

because one man decided to buy a company. Oh my God, the crap that is coming out of the mouths of people that have the privilege to have a show on TV and speak to many, many people and use the word Nazi and fascist like I talk about the Mets.

You know, the Mets rolls off my tongue. They just Nazi, fascist. They're calling Elon Musk a white supremacist, racist, fascist. No, we're not kidding. All because he's trying to buy Twitter. What are they worried about? What are they afraid of? You know what they're afraid of?

Just what we told you. They have no game. You know what their game is? They're control freaks. Any loss of control has them going doubly insane. They're worried now that Twitter is going to be back to free speech. That's what they're worried about. They hate anybody arguing with them, debating them.

because they have no game. They're control freaks. And as we've told you for years, how do they control? It was funny, for four years, they were calling Trump a dictator and a fascist. Has any of you looked up what the word fascist means? Seriously, fascist. It's basically an authoritarian.

dictatorial power. I ask you, is lowering taxes and less regulations on you? Dictatorial power. Authoritarian. Is it? And as you know, we're no Trump fan. But here you have people calling him a dictator and fascist, and the people that are calling him dictator and fascists are calling for higher taxes,

more rules, more regulations, more fees, more fines, more mandates, more control of your lives. And they do it with our tax dollars. And they do it with their mouths, with their buddies in the press. You know, they had this correspondence dinner Saturday night where all the journalists, I guess, celebrate each other. But we don't call them journalists anymore. We call them advocates. just go watch we know who the people that report the news we're good with them we also know opinion people somebody tells me their opinion people cool i can agree or disagree don't tell me

you're a journalist and then foist your opinions down everybody's throats in the guise of being a journalist. And that's what they're doing with Elon Musk. The horror of it, the end of democracy. Remember, these people, if they don't have a crisis or an enemy, they have no game. Why do you think Al Gore said in 10 years we're doomed 16 or 17 years ago? And why do you think not one of these journalists has them on a hot seat asking, what was that bull crap? It's very very, very, simplistic ladies and gentlemen you just got to do your homework and again we are independent we hate the republicans we have no love for the for the left and when I say republicans it's these people I'm conservative fiscally they're not they're fakers Trump eight trillion of debt fiscal conservative my you know what so we

suffer no fools but they're killing us they're killing us they've spent 30 trillion dollars more than they were supposed to media hear no evil see no evil speak no evil and you wonder why i yap about this so just letting you know now Elon Musk caused the Chicago fire San Francisco earthquake and the bubonic plague all because He wants to buy Twitter and let speech be speech again. The horror of it. Just remember, Twitter shut me down for a day because during the debates, I said, Bernie Sanders, economic policy borders on communism. I was shut down for a day.

That same day, there were some Mullers from Iran on Twitter calling for the death of Israel. They were not shut down. What does this all have to do with you? Everything. They're control freaks. They prove it every day. We'll be watching them. Up next, wicked day-to-day, market wrap, much more.

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 radio people. We manage investors' money for a living, specializing in fee-based discretionary money management. No big commissions, just a fee on the assets that's managed. We also provide a full range of personalized services, including retirement planning, fixed income, and educational needs, all to assist you in achieving your financial goals. Understanding not all individuals have the same needs, we'll carefully evaluate your personal goals to determine a proper investment strategy.

If your current approach to investing is not getting you to where you would like to be, call us to make an appointment for a complementary portfolio review. The number to call is 888-4-22-55-9. That's 8-8-8-8-4-2-2-5-9. That's 888-4-2-4-2-5-9. Investment Advisory Services offered through call-bomb Capital Management. 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. 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 confirm. used relatives, and saying things like, sorry, I can't talk right now, I'm editing

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swears are the next big thing. Even better, Sprinker 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. 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. So, so we measure our words very carefully. when we're talking about you, the markets, the economy, your money.

We measure them carefully because we kind of know what else you hear. When markets are really bearish, every up day is a bottom. We know you hear that. We hear it. Every up day, oh, and here we go. We're off to the races. We know you hear it because we hear it. Our job is to keep your feet on the ground, your wits about you, while everybody else is swirling.

We do this because, as we have told you, Wall Street is always a fully invested vehicle. When you see a strategist on TV, never bearish, that's because he can't be bearish. These strategists are fully invested vehicles. It is a very rare occasion that a major firm strategist comes out and says sell. They'll never say that. You know what they say? Oh, there's volatility. We have had a gargantuan bear market, gargantuan bear market in the higher beta growth arena.

And the way some of them talk, it's much ado about nothing. So we need to keep your feet on the ground and give you the absolute facts of what's going on and recognize that you are hearing so many things from so many different areas. So today you will hear a great comeback in the market. And in fact, and by the way, we are not making this up. At 245 today, the Dow was at 32-449. It was down over 500 points. again at 245 it closed up 84 the market rallied 612 points in the last hour and 15 minutes terrific the

NASDAQ at 245 was at 12202 it was down another 1303 302 it was down another 130 303 it finished up 201. The NASDAQ went up 330 points in the last hour and 15 minutes. What could have possibly happened? How can that be? The semiconductor index went from 2905 to 3,022. It was down 12 points. It was actually holding up best today.

finished up 102. How can that be? Well, here's the difference. They're going to tell you, great reversal, end of the bear market, got to jump in. Don't miss out. And you know what? They may be right. But they said it six days ago, 10 days ago, 12 days ago, 18 days ago, 26 days ago. ago 30 days ago they can be right we're all for it but we know better because what have we taught you it's all about where things have come from and where they are not just what they did let me suggest something to you the Dow since Thursday morning went down 2,000 and 50 points since Thursday morning, April 21st, that's 1, 2, 3, 4, 5, 6, 7, 8 days, 2,050 points.

That's why it bounced. The NASDAQ, in those same eight days, and by the way, a lower high, went from 13710 to 12202. That's 11% end change. 11% change for an index in eight days. By the way, on March 29th it was 14-646. That's 24244.4.4. Just from March 29th. That's about 16 to 17%.

In a little over a month. That's why we bounced. Bounces can come from anywhere. On Thursday, it looked like they were going to bounce. And they smoked it down on Friday. And just remember, just on Friday, we're still down 325 NASDAQ points. Just from Friday.

Just from Friday. We're down. Mm, 900 points. So before we get the pom-poms out, and again, we're all for every update to be the low of the bare market. Everything's going to be great. Before you get the pom-poms out, just remember where things came from.

2,000 points in eight days you're going to get a bounce somewhere and a vicious bounce. You got it. Did I see any catalyst from 245 to 4 p.m. today? No. What I can tell you about today, though, the only thing I can tell you. Man, it felt like there was some giving up. You know what I mean by give up? It's when you see trading in things and, man, they're just get me the hell out.

saw some of that today, but had no clue they would bounce it into the close. So that's the story of today. Great reversal in the last hour and 15 minutes. I don't have my volume numbers yet. Let's hope it's the low. The worst is over. The end of the bear. I'm not so sure we're there yet. Up next. Lots 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 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. 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. 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. We're listening to. America is talking. Investors Edge. 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. And just as I told you, New York felt better. New York City has raised its COVID alert level to medium on Monday. What the heck does that mean? as cases surpassed a rate of 200 per 100,000 in the five boroughs. I don't know what that means. The city continues to recommend that all New Yorkers vaccinating out where a mask in public indoor settings is highly contagious sub-variance of Omicrom continue to spread across the city-state

and much of the globe. The coming weeks will be critical to slowing the spread. Okay. You know me. I always err on the side of caution. I did not have to wear a mask on my airplane. I did. I would say on my airplane, 25% of the people were wearing masks.

And I know, I know, I know, I know. Airplane's safe, but you know what else I know? My son's wedding is in less than three weeks. You got that? I'm not messing around. and it's in New York. Your handsome and buffed host does not want to get COVID during that time. Anyway, I take it all back. I will say this about New York City, though.

It was dead Friday evening. I was told because nobody's in the city Friday working. I guess everybody doesn't, most people don't have to go into the city to work on Fridays. I was at one of my favorite restaurants Friday nights. That's usually packed. No. So today's market wrap is brought to you by, in case I didn't do it before, investment-dashmodels.com.

That's Jim Roerbach, one of the great market timers. No gray areas with the man you're either in or out of the market, with his proprietary indicators. Go check it out. Investment-mottles.com. So today, you had a very good reversal day into the close. That's good. after a 2,000 point Dow drop in eight days and over 11% NASDAQ drop in that same amount of time.

Let's see what the socks did during that time. Not as bit. But just so you know, from that March 29th, the socks dropped 20%, approximately. So remember, rallies have to be measured where they are rallying. from. We are open to all outcomes. Give me some evidence. Just give me some evidence. And it's not one up day after a huge drop. Other things that happen today and just let you know, Amazon today hit a low 2367 down another 120 points after get to get a low. 2367 down another 120 points. after getting sloshed last week

finished up four part of the reversal and most of the usual suspects that were really down hard early finished up Tesla today hit 848

which was down about 30 now making about 20 finished up 32 Netflix buried dead finished up nine. So some of the worst ones bounce pretty good. We'll take it.

As of this second, we would call this what is known to us as a sell-up affair. As things move back up into resistance, if they move back up into resistance, you sell them up. And be careful of the bottom callers that have been calling bottoms 12 times in the last three months.

The broken clock will eventually be right, and they'll take credit for it. We pay no mind to all of that. Now, we got the Fed on Wednesday, and we're being asked maybe we can get to buy the news, even though it's going to be bad that they're raising rates. I got Newsfea. He doesn't matter anymore.

He is like racing, Yussein. Bolton 100. He's like swimming against Michael Phelps in the pool. He's so far behind. It's not even funny. Yields again today spike. The five years at over 3%. The 5 years at 3% to 2.7 in change. The 1 year's 2%. He's at a quarter percent. And wow, he's going to 3 quarters of percent. Utter financial and economic malpractice continues. by this man. And I weep that he's still running the joint.

He's the most important financial man on this earth. And he's got it all wrong. Caused a lot of the problems. Caused the bubbles. Caused a lot of the inflation. He's running the joint. So, here's what we're willing to say. After 2,000 Dow points in eight days,

over 11% in the NASDAQ, the market found A-Lo today. But we're not necessarily saying it's even A-Lo. Let's see what happens tomorrow. You know, on Thursday, we thought there was a chance of A-Lo, but we had to wait for Amazon. And then Amazon cracked, so that was out of the question. Now, we don't have any Amazon's left to report. We're just not so sure just yet.

Higher rates, not so sure that's conducive. An impotent, incompetent central bankhead? not so sure that's a conducive. A president wants to raise taxes and has the nerve to look you in the eye and say a $5.8 trillion spending bill will lower deficits. Chuck Schumer having the nerve to come out looking you in the eye and says, we're going to raise your taxes and that'll lower inflation. They really do think we're dummies.

The idiots think we're the dummies. they should not be running a lemonade stand. You do know that, right? And we take absolutely no joy in stating that. We wish we can come on here every day and talk about our great leaders who are responsible, care about the taxpayer. They're watching their checkbook, doing the right thing, not trading on insider information,

and things we'd go to jail for that they don't. They don't even get a slap in the hand. Trading favors with lobbyists. Go on and on. The list is huge. Welcome to the world. Again, we take no joy. Otherwise, today, good day for the high beta stocks.

You know, the stocks have been absolutely crushed over the last year. Good day for retail, mostly green. I'm going to have to look at those later. Housing stocks are up today for a change. change. They've been the bare market. Financials were up today though modestly. They've been the bare market. What was weak today? Gold. Gold stocks. Commodity stocks were weak. Oils were weaker earlier but came back towards the clothes. And for a change, Hershey's was down eight bucks. The food, drug, beverage, tobacco household product stocks, which have been strong,

they came after them. of the stalwarts were down today the worst was best today the best was worse today overall but i repeat one day we'll take it we know about your 401ks we know we know what's happened there we want the market going up we take no joy in the downside it's just one day and i must tell you I'm already getting a few too many emails that are on the bullish side. We'd like to see doubt. Up next, this, that, and the other thing and whatever else. This is the one only investors 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, Apple Podcasts, Spotify, and about a dozen apps your cousin swears are the next big thing. Even better, Sprinker 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. You're listening to. What are we waiting for? Well, what are you waiting for? One, two, ready, go. Action! Investors Edge. With Gary Culper. And welcome once again to investors.

Let's do a few other things of note in case you didn't know. Just remember what we've told you for two years. We actually thought the biggest bubble was in the bond market. J.Bond market. Why? That's what's been attacked. J. Powell took rates down to zero, screwing every saver.

Aunt Mary and Uncle Bob, you're getting 0% goat. 0% go screw. And you know who's keeping that money? Oh, the banks and lenders. You know those people that almost brought the house down back in 08. And on top of that, our printing of money is going to make billionaires. Bigger billionaires. But what did that do?

It distorted everything. What have we been saying to a thousand times? We're finding bonds that should be yielding 9% yielding 5%. We're finding bonds that should be yielding 5%, yielding 2%. Distortions. The global bond market before today, and the bond market had another bad day today, $8 trillion from the highs. We're talking worth.

$8 trillion from the highs. has been lost. Remember, we reported to you a long while ago. It was Austria floated. Was it a hundred-year bond? And I said, anybody who buys that insane, I believe they were getting eight-tenths of one percent. In other words, you have nothing but risk. I read that it was down 35 percent. 100,000 of their currency? It's 65,000. You have to live 100 years to get your money back. Again, insane. Junk bonds, remember what we've told you here? We used to have a great income business. I haven't bought a bond. I can't even begin to tell you why. Why would I buy a bond that's yielding 5% that should be yielding 9?

It's simple. Because eventually it'll yield 9. And what will that mean for the bond that I bought yielding 5? Oh, big loss of capital. what's the good news for me now? Well, the one years at 2%, the two years at 2,7, the 5 years at 3,

and I've actually started looking through my inventory of bonds. Still a ways away, but I'm actually finding things I can buy for a couple of years and get 4%. And not have to worry. You know, they're kind of lower rated, but I don't have to worry about them. the companies that I'm looking at.

So I finally got a little bit of that to watch. I haven't done anything yet. But look what's happened to the bond market. $8 trillion before today, and it had a bad day again today. Bond funds, you know, they're perpetual. It's not like a bond where you buy it and it matures and you get your money out at par when it matures. Bond funds keep rolling over and rolling over and rolling over. Crushed. Absolutely crush. You know, there's the LQD. It's just an exchange traded fund for investment grade bonds. It's gone from 136 to 111.

Last I looked, that's 19%. There's a few years to make that back. And the worse it gets, the higher rates go, the worse that's going to get. The HYG, That's the ETF4 junk bonds. 88 to 78 actually not as bad, which is kind of weird. That's still down about 12% in the last six months. So there really hasn't been many stones unturned in this market. So again, just let you know. Good reversal day. Very good reversal day.

no complaints about that let's hope it continues i'm all for it as of now down 2000 down 11% NASDAQ you got a rally from somewhere as always every day we're scanning 2,000 stocks 200 sectors every country every commodity if we see anything changing we will let you know but today we freely say good reversal it looks like volume came in okay too I'm not sure it's the what they call the grand washing out

of every little seller as I always tell you let me see a few more cards come out of the deck normally I would tell you we'll get upside testing from here off a reversal day and we'll tell you that again but this is a bare mark

market. Trust is low. And again, keep your feet on the ground. We'll see how it plays out. There were 1,579 new yearly lows today, hardly any new yearly highs. Keep in mind that that 1579, it was much worse early in the day, so a lot of them did reverse up. So it's not a closing new yearly low. But it still tells you how weak it is underneath. As well, we're we head into Jay Powell on Wednesday. And to be clear, I wish he'd go away by the dodo bird. Wish the whole central banquet. But that's not in the cards.

All right, that all said. Have a great evening. Drive carefully. When you get home to do like we do, it's quite simple. Make sure you hug your family. Make sure you hug your children. they will feel better, you will feel better. I promise. Stay safe, be well, good health, good day at the close. Hopefully it continues. Same time tomorrow. Peace out all. Bye-bye.

This has been Investor's Edge with Gary Coltbaum on BizTalk. To listen to past episodes or to get in contact with Gary, go to GaryK.com. That's GaryK.com. Thank you.