Investor's Edge with Gary Kaltbaum - Big tech topping? [11.30.2023]

Episode Date: November 30, 2023

https://garykaltbaum.com/

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That's a degree better. Explore more than 350-plus undergraduate, graduate and certificate programs at ASUonline.asu.asu.org. Investor's Edge with Gary Kaltbaum. Straight talk about you and your money. Now from the BizTalk Studios, here is Gary Kaltbaum. And welcome once again to Investors Edge. I'm Gary Kaltbaum, your host.

A thanks of being with us today. Glad you here, ladies and gentlemen, happy that you are listening. It is the end of November. And may I state for the record, some areas of the market popped into the end of November, while other areas topped into the end of November. We're talking markets. But first, if you do not get this radio show in your city, we'll post it at garyk.com.

We'll also post it at our Twitter feed, which is now X. And how do you follow us on Twitter? You go to X, put our name in, or press the button at garyk.com. How's that? And, of course, if you email me, just be nice. Not like my buddy emailed me last night to tell me, I was an egomaniac. Mois? An ego maniac?

I'm the last of the egomaniacs. I am humbled every day. Ego. I got news for you. In my business, if you have an ego, you're going to get run over. We have no ego. I can promise you that. Okay, so tonight, if you turn on the news, they're going to give you some numbers.

Let me give you the first one. The Dow was up 520 points today. And in fact, let me get this right. The Dow broke out to the yearly high and it rallied up. We're not making this up. From 335, it rallied up 175 points in 25 minutes to the close. End of month. It all counts.

What you need to know is two stocks made up. Let me add it up for you. 21 and 17 is 38, 39 to half. 39.5 times 6.78, 268 of those points. That being Salesforce.com, gapped up on earnings, and United Health, which quite amazingly, they gave guidance yesterday, and the stock got slammed. I have no idea what happened overnight. Stock was up 18 bucks today to 552. not big percentage, but it's the most important stock in the Dow. That said, we scan with no bias.

You know that. We have no bias. Whatever shows up, shows up. While the Dow was up 520 points, NASDAQ was down 32, NASDAQ was down 39. And I must tell you, not until about that 335. So a button was pushed by programs. It was laboring and laboring badly. But that said also, you got a bunch of stocks,

very famous stocks, topping out. We will mention that too. but just leave no doubt as I do my scans. And by the way, since we're so ambidextrous, right now we are scanning while we're talking. And what we do is we start with volume at a certain level and go to the highest volume traders of the day to see what made these moves.

Boeing was up seven today in the Dow. Boeing's got some new orders, been strong. Weak stock like Proctrine Gambles and Johnson and Johnson were even up. American Express was up 2%. McDonald's was up 1.5%. That be the story. But the S&P only went positive in the last 15 minutes. So just letting you know, great Dow Day,

we are not going to throw any water on it, except we have some names to let you know. look like they have topped. And we'll get that in a minute. First off, hope you having a good day. As you know, we've been starting the show with what's going on with Israel. And I have to tell you on a daily basis, we really do continue to find out why these, I don't even know what to call them anymore. But let me read something to you.

And we're going to be brief on this today. The president of college called Brown University did a ceremony, spoke at a ceremony. She left out words that were in her speech. You know what words those were? Star of David and Yamaka about what students should be proud of wearing on campus. But she included Akefia and his jambica. And I'm thinking to myself, self, do they even care how bad they look now? The speech was supposed to say, every student, faculty, and staff members should be able to proudly wear a star of David or Donna Kefah on the Brown campus or to cover the head with a hijab or yarmika.

She took out the Jewish. She took out the Jewish. a spokesman for Brown University claimed that she was only abbreviating the speech in order to be able to finish and we wonder what the hell is going on with some of this crazy college student activity it's stunning

it's stunning and nothing will happen nothing will be done and I feel almost for these students that are being turned into robotic, follow the next person, because I don't have a clue. I don't know what to say. Just wanted to mention that one little nugget. Gary, what does that have to do with our future and our money?

These are the people that are teaching our young ones. have you seen the vial coming out of these students at these protests? These people aren't protesting for Palestinians. They're protesting against Jews. I saw one put a Nazi symbol on an Israeli flag. They're lucky I'm not president. Every freaking dime of federal money would be yanked like there's no tomorrow. I'm just going to leave it at that.

It speaks volumes. I don't even know where else to go with that. I really, really don't. Some more hostages, but also Hamas sent some terrorists in and murdered three Jews in right outside Jerusalem. Hamas has said, oh, we're going to do it again and again and again, but they're calling Israel genocidal. Thank the Lord that 99% plus of the people out there are not these maggots. They're just out in force. I don't even know another word to use, but maggots.

And of course, we'll finish up by saying tick-tac-toe. Up next, the markets. Much more. This is the one only Investors 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.

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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 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 Capital1.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 Sprinker 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. 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, just to finish up, I said tick-tac-toe. And what that simply means, you just got to know when you can't win so you just don't play the game. And that's what you're really dealing with. I've watched video after video of people tearing down just pictures of the kidnapped and people approaching them with their phones.

Why are you doing this? These are kidnapped, innocent people, and they're getting F-bombed and middle-fingered, as well as being called Nazis. So what do you do? You punt. And I asked myself, what do they do when they're done protesting? Do they go home and watch Schindler's list? and curse out Schindler? I mean, what do these people do when they're done doing what they're doing?

It's a pretty good question. Anyway, we move on. The Dow up 520 points. Now, keep in mind, very important. It's about 1.4%. But the Dow doesn't usually go up or down 1.4%. It is the lower beta, which means doesn't move as much index, of 30 names. And it's meaningful.

Areas of the market were going to be roughed up today until the last 15 minutes, even though they were still. I will tell you names like Nvidia look like they're topped out. Google looks like topped out. Broadcom looks like topped out. and others. But as I'm doing my scans right now and I'm getting to the meat, what do I mean?

I'm up to the stocks that trade two million shares a day. What am I seeing? Oh, United Health Up 18. I mentioned Salesforce.com, Boeing, American Express. And my stuff page. We have one page

that includes transports, financials, insurance, commodities, airlines, cruise lines, retail, defense, the staples, lots of green, lots of red and other places. So you're going to have to be a little bit specific. And I will tell you, I was saying to my peeps today, they better keep rallying the Dow today. Oh, and they did. We'll see what tomorrow brings.

But good day. and Dow into high ground. That's where I can explain it. Dow broke above the August highs. Quite stunning, if you ask me. The Dow. Stocks I'm not used to. I'm not buying Procter and gamble

and still not doing much. But no argument. But adjust. Tomorrow is going to be interesting because they were cracking tech today. And only to the end of the day were they on it. And one would state it was being lifted up. Now as we go into December, to be clear, I'm being told December has to be good. I'm being told, oh, it's seasonality.

I'm being told it's a must. We'll let the market decide. But leave no doubt the first things I'm going to do tonight after I'm done scanning once, I'm going to scan the Dow 30. Take me one minute. I will also tell you, as I'm doing my scans, man, a bunch of oil pipelines. Oil pipelines, they're kind of strong. No complaints there. and then we'll see what the rest.

The other part of the equation is earnings. A lot of reaction to earnings, both good and bad. And some opened up big today and finished down big. Got to be wary of those. And then you have something like Salesforce.com, that's a juicy 21 points. Breakaway gap. They were selling it in the middle of the day.

And then at the end of the day, they started buying it back in. And that's a down aim. We'll see what comes of it. Yields today, just letting you know, up 0.81 to 4.352. Just letting you know something to be watched. There's been a direct correlation between yields and the markets. One day up doesn't mean much. Wouldn't sweat it much.

More, we'll see how the market reacts. Steel stocks. Steel. Starting to emerge a little bit. Just telling you what we're seeing. Steel stocks. Whatever the heck that means. Blown up, destroyed, blasted, dollar stores, maybe putting in a low.

We'll see how that goes. Oh, I just found another oil as I do my scans. But a lot of oils are in bad shape. I got a lot of emails today about Elon Musk. good reason he did some interview where he told advertisers that were leaving he used the word that i actually cannot mention on this show two words actually and it was not happy birthday uh and my questions i got were okay doesn't that worry you he also went on said well if they bankrupt my company, Twitter, so be it.

And doesn't that worry you? Because there's a company called Tesla that trades. The answer? Hell yeah. That's so not normal. God bless him. He's being attacked. Just remember, before he bought Twitter, he was.

Everybody loved him. once he bought Twitter he was the Antichrist remember how it goes remember how the media is if you kiss the ring you're fine if you don't

you're the Antichrist so he's getting it from all fronts but you still have a responsibility to your shareholders up next we'll expound this is the one only Investors Edge guys it's no use

putting it off the best time for an underwear refreshes 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 detail. 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. 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. And welcome once again to Investor's Edge.

Gold. Rested. But we gave you out some symbols on some low-price gold names. And we're just letting you know they continue to look pretty darn good. Just letting you know. We're not telling you to buy him, sell him, short him or cover him. We're just letting you know they're acting well. Gold has not broken out to all-time highs,

but if it does, you'll know it because we will say so. It's close. The stocks, the underlying stocks continue to woefully underperform the metal. But that's been going on for years. And normally we would tell you that's bearish. Typically, you want to see the stocks outperform metal. Don't know what to tell you. All I can tell you is if the metal gold breaks out out of the many years of range,

we're going to probe it. We'll buy it. Close our eyes, hold our nose and pray. So just letting you know that's out there. Now, most think that's bad. If gold is doing this, that's bad. We're just going to watch the market. And we will let you know what is, what isn't.

And I must tell you what the funny part of seeing the Dow up 520 points today, as I'm doing my scans, I'm looking for anything that really sticks out. and I can tell you this. Ain't a lot. Yeah, you have movers. Things are up. And yeah, I got my Salesforce.com and I got my United Health up 18.

And again, that was 260 Dow points. But after that, Charlie Munger passed away. We posted at garykate.com some of his quotes. You may want to read them. I've never met him, but I follow him closely. And he's just one of these brilliant men, respected, didn't care about the limelight. He let Warren Buffett have all the limelight. But he was an integral part to Berkshire Hathaway and the businesses they got involved with.

I love the fact he pulled no punches. And I don't know if you know this. He hates the crypto. He had some choice words to describe the crypto. That also, I cannot repeat on this show. Go read up about him. There are just people out there that are a lot smarter than me that really know businesses well.

They run businesses. They don't trade. They run businesses from Seas Candy, S-E-E. They bought Burlington Northern. I made good money on that stock a long time ago. They've owned Coke forever.

I believe Gillette was another one they owned forever. And most of the companies, understandable. And I still remember they are ones that never wanted to invest in tech. They finally invested in Apple. And I still remember Apple was in a bare market at the time. And they were being made fun of. I think Apple's up tenfold since they started investing in it. And the amount of dividends they get from Apple,

huge huge so a word of advice and I'm always amazed when I see people make fun of successful people learn from successful people

you got that learn from them I have books lined up that I've read in the past whether Richard Branson from the Virgin Group start with that

to Steve Jobs who wasn't the nicest guy on earth read about them and it's really interesting these greats kind of sort of all had the same thought process

they work harder, smarter, longer than most everybody else as simple as that you know it's also funny I'm going to mention two you know the rock I'll watch at 11 o'clock at night

him working out how do you look like that you work out at 11 o'clock at night when you didn't have a chance to work out during the day just a little food for thought I read yesterday he was reading about Tiger Woods

about how during practice he would not leave the putting green until he hit 100 four footers in a row in. He had it hit 100 four footers. Huh. Interesting.

How do you become the best? There's your answer. Just let you know. There's your difference. And I repeat, they all kind of sort of have the same characteristics. Go read up about what Larry Bird used to do.

After the games, with a bad back. how many free throws he practiced. Just letting you know. We kind of think we work our tail off too, which we were in their category. Anyway, repeat, 520 down points,

but as I scan, there were not a lot of movers today. What? No, really, there were not a lot of big movers today except these down names. Now, there was a bunch of green, but not a lot of big movers for 500. 120 points. And we do repeat the NASDAQ and NASDAQ 100 were down. And they were a lot down until like the last 15 minutes when the market hit that the retro rockets and went up like 175 points in 10 minutes to finish out the day.

Would I call that end of month? I couldn't care less what you call it. And by the way, I'm up to as I scan 4.4 million shares a day. So we're on the move. So call me a little bit worried, call me worried about some of this big tech and others, but there's still plenty of tech that looks pretty darn good. And the financials, another decent day today, not much goes wrong if financials are doing okay. and they're definitely much better after getting trounced starting in February. I can't wait to get on the new high list, which by the way is still quite small after the show is over. I'm up to $5 million now, and I've got to tell you again, for 520 Dow points, not a lot of big movers. stunning but expected why because i got three screens in front of me with a lot of stocks on it up next

other news of the day i'm gary this is the one only investor's 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 there's 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. If this sounds familiar, you're probably already a podcaster. The good news is, Sprinker makes the whole process simple. You record your show, upload it once, and Sprinker distributes it everywhere people listen. Apple Podcasts, Spotify, and about a dozen apps your cousin's

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. 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. Action! In The Wester's Edge. With Gary Culpa. In other news.

Da-da-da-da-da-da-da-da-da-da-da-da-da-da-da-da-da-da. So, this segment is titled. somebody's going to jail no really sometimes people can be so freaking stupid company called immunogen

symbol I M GN was up 82 and 3 quarters percent today a biotech company why was immunogen up that much today ABV to acquire immunogen for $31.26 in cash.

By the way, it closed at 2935. So if you believe the deal will get done, you make two bucks. But if the deal gets undone, oops, you decide. But why is somebody going to jail? Because somebody's an idiot. ladies and gentlemen yesterday somebody bought 5,700 immunogen $21 calls for January of 2024, while the stock is $16 the day before a buyout. Oops. They turned $500,000 into $3.5 million in 24 hours. Guess what? the police are going to be on that.

And they better not have a pipeline that will be found out because they're going to jail. And let me be clear about that trade. It looks like somebody was in the know. People are so stupid. Jump over dollars and get dimes and go to jail. Unbelievable. Stunning. What do they not think people are going to find out?

Just absolutely stunning. In the news. Oh, right. As you know, I've given myself the moniker, Mr. Logic, because I'm Mr. Logic. What's one of the logical things we've said to you? There is no way in hell. No way.

Driverless cars is going to proliferate. there's no way no way GM is now going to cut spending big on the self-driving unit duh

ain't gonna happen and I know there's some places where they have it was it called Waymo or something but I got news for you I ain't getting in a driverless car are you I have enough trouble going into an Uber when I was in New York

last week and my Uber driver is doing like 90 and a 50 and he was a lot bigger than me so I'd be careful about what I said I said listen can do me a big favor I will quadruple your tip

if you just go back to do the speed limit and he gives me a look and he says to me you promise and I said to him I go do you mean to tell me

me, that's what I have to do to get you to do the speed limit? And he smiled. And he went down to the speed limit. I doubled this tip. It's not even trust the drivers, let alone the driverless. Anyway, that ain't going anywhere.

It may have it here and there, but that's it. And you know what else ain't happening. Air taxis. Really? Air taxis? Have you ever been on I4 here, which is much better now once they fixed it in Orlando? Have you ever been on I-95 over in Miami? You ever see the traffic?

Oh, let's get into the air taxis. It ain't happening, kids. It ain't happening. So just letting you know when you read all this stuff. And of course, the EV thing, that's not happening in the ways they're trying to force down our butts. Remember, if there ain't a demand, they ain't going to supply, and that's why all these companies now are slowing down their production of electric vehicles. In fact, prices are coming down, inventories are going up, the best laid plans of duffices. Life is pretty simple.

Economics is pretty simple. If there's the demand your supply, if there isn't, you get the heck out of the money. the way. And if government demands you, run. Look what they did. Ford and GM, huge losses. Forced on them. Remember what we told you when we first heard these things about 2035. Europe is dropping the dates. Europe. Climate change Europe is dropping dates and mandates. So just letting you know. Got to always, always pay attention and just think logically. Logic.

Simple logic sometimes will get you way ahead. Sometimes things are not complicated. Just look straight ahead. And maybe one day it will be all electric. It ain't going to be in a few years. I can promise you that. that's a little bit of the news of today. We head into December.

Big move in the Dow today. Wow. Big catch-up. We'll be scanning tonight. Put out our webcasts. See what we can find. You'll have a great evening. Drive carefully.

I should be on with Neil Cavuto and noon now or tomorrow on Fox Business. Check it out. And when you get home to like we 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. Thanks for joining us. Pray for the hostages.

And no more death. Have a great one, everybody. Thanks for joining. Good night. 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. 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. 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.