Investor's Edge with Gary Kaltbaum - Broad Market Better

Episode Date: June 6, 2023

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

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Starting point is 00:00:18 Plenty of room. And yes, your childhood teddy bear gets a spot too. Don't sell what you love. Store it instead with IKEA Bedroom Storage Solutions. Shop now at IKEA.us. slash bedroom storage. Investor's Edge with Gary Coltbaum. Straight talk about you and your money.
Starting point is 00:00:36 Now from the BizTalk Studios, here is Gary Cultbaum. And welcome once again to Investors Edge. I'm Gary Coltbaum, your host day. Thanks for being with us today. Glad you here, ladies and gentlemen, happy that you are listening. It is June 6, 2020. Hope you having a good day. Update on my back.
Starting point is 00:00:56 I was feeling great. I had no sharp pains. It's still around. No more cringing pains. And then I sat down and got up and boom, the cringing pains come back. So leave no doubt exactly what the doctors have told me. When I sit down, it compresses. And then it comes up and the nerve and boom, boom, boom.
Starting point is 00:01:20 And welcome to my world. They gave me an extra strength of the, what is it, prednisone? I'm taking They gave me something called flexural when you go to sleep but I'm not using it because I sleep very well
Starting point is 00:01:35 it's really if you don't sleep and extra strength Tylenol and we'll see what happens they have diagnosed it as I have one area that has nerve
Starting point is 00:01:49 it has nerve and man oh man it's an MF can I say that yeah I can say that Anyway, can I say, I better not say that. I hope you have a good day. Ladies and gentlemen, we'll get into the markets in a couple of minutes, but we're going to teach you a couple of things here.
Starting point is 00:02:09 Number one, whenever we see a scam, we tell you about it. So a new scam is coming. It's hit. Got a few of them. If you get an email from the Ukraine asking for money to send cryptocurrency. into a certain wallet. It's a scam. You got that? It starts out, I'm a volunteer. In Kiersen region and Ukraine, I must admit that the situation becomes extremely dire. The Russian forces are intensifying, blah, blah, blah, blah, with extreme cold and lack of food supplies. It's come extremely
Starting point is 00:02:44 difficult for innocent Ukrainian civilians to survive. We have been promised foreign aid by countless charities, blah, blah, blah. As a last resort, I'm appealing to Gary Kohlbaum, because I'm special. We would ideally need medical supplies, food, blah, blah, blah, but we need. need money. So we are also accepting cryptocurrency donation, send it to this wallet. No donation is too small. Ladies and gentlemen, if you don't know that's a scam, I can't help you. So just letting you know they come in all shapes and sizes and they don't care about you. They will take your last dime, put you into destitute, and then give you the middle finger. Don't give them money. You got that? I don't.
Starting point is 00:03:31 know if you know this but our government has given ukraine about a bazillion dollars whether or not it's being spent correctly who the hell knows because there's never any accountability with our money next so i'm smart others not so smart i don't know if you hurried but the pGA the pGA you know where the commissioner a year ago around this time was saying that live golf from Saudi Arabia, you've got to make your choice because you have Saudi Arabia that the government killed a journalist,
Starting point is 00:04:21 all kinds of human rights violations, you have to make a choice. You have to decide who you are and what you're about. I'm paraphrasing, by the way, but a pretty good paraphrase. And blah, blah, blah, and this, that, and the other thing. So what ended up happening, a bunch of golfers went to LIV golf.
Starting point is 00:04:42 And I always said to you, I'm thinking to myself, hmm, I'm sitting around the table with my wife, and I've worked my tail off, become one of the great golfers of the world, and here you have LIV golf offering me $100 million guaranteed, guaranteed, and a better schedule. I'm taking it.
Starting point is 00:05:09 Not necessarily me, I'm talking for that person. Phil Mickelson, what did he get a couple of hundred? Tiger Woods was offered 800. That's the rumor. Rory McElroy, I hear, was offered $250 million. All the big names were offered $50, $100 million. The last one was this Cameron Smith that I never even heard of that won the British Open. He got $100 million, an Australian guy.
Starting point is 00:05:44 Hardly anybody's even heard of a hundred million guarantee. and they were castigated and they were blasted and they were cursed how dare you how dare you take money from a human rights violator and a murderer of this journalist shame on you and good people like rory mackereloy would blast them all the time wouldn't even want to speak to them friends became enemies and then loyalty these famous golfers loyal to the PGA. I'm not taking the money. The PGA just merged with LIV today. You know the old cliche, it's all about the Benjamins? It's all about the Benjamins. Now, if I was the PGA Board of Directors,
Starting point is 00:06:51 I would fire the guy who's running it immediately. What we're finding out now is no golfers knew of this. They found out in a letter. only a select fewer involved in the negotiations. Probably McElroy knew because he's one of the heads. And it was interesting a few days ago, Roy McElroy said those Americans in LIV should be able to play the Riter Cup.
Starting point is 00:07:22 I'm saying, boy, that's a change of stance. What's going on here? So we're just bringing this up because it is business. And we've watched and listened and heard complaint after complaint after complaint about these golfers. And note, I'm not taking aside. We've watched the WWE, the wrestling, do two sold-out shows a year in Saudi Arabia.
Starting point is 00:07:51 We've watched the NBA. The NBA superstar players curse out what some people on the right have said here and done here and say not a word about what's going on in China. Do you know they jail people in high? If you say one bad thing about the government, this beautiful place, Hong Kong that I used to love visit that I could never go to again. Because I say things about China on the radio and who knows if they know and they put me in jail? Hypocrisy.
Starting point is 00:08:28 We just wanted to let you know what's going on. I find it all funny that it all comes back down to the Benjamins. So what's happened here is LIV and they've been in negotiation, obviously. the PGA realized, damn it, look at all these great players that don't play our tournaments anymore. We don't have Tiger anymore also. Tiger, just so you know when he plays a tournament, ratings are up 30, 40, 50%, 50%.
Starting point is 00:08:58 That's how big he is, but he's done. He can't play anymore. Maybe you'll play a major here and there, but he's done. That car crash did him in. We had said to you on this show, how do you argue with somebody who worked his tail off his whole life and is being offered a hundred million bucks guaranteed to play golf when with the PGA
Starting point is 00:09:34 in the next 10 years maybe you'll make 10 million you can't argue with that and look what's happened and all the PGA players the great players that stay loyal and turn down 50, 100, million? They ain't getting squat. Now the PGA has answered the call. They've raised how much the price pools are for tournaments. And maybe something's going to happen here. I don't know
Starting point is 00:10:08 with LIV where they pay out to others. But I got to believe it ain't going to be in the same realm. I just thought it was interesting. Just remember business kids. Sometimes it ain't pretty. And I was surprised by this. I was surprised. And I just want you to remember again all the BS that's being spewed. My favorite is some NBA superstars will curse out a Republican, but not China government. That, by the way, how many Uyghurs are kept like in internment camps? It's all about the Benjamin's.
Starting point is 00:10:58 Hypocrisy. We just want you to remember that. Stay true. Up next, markets. 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.
Starting point is 00:11:56 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. The number to call is 888-4-22-559. That's 8-8-5-59.
Starting point is 00:12:21 That's 888-4-2-9. 5-5-59. Investment advisory services offered through call bomb capital management. Hi, I'm Dr. Jay Goodman, host of Beyond the Script, the podcast where I sit down with pharmacists
Starting point is 00:12:40 to answer the health questions you didn't even know you could ask at the pharmacy counter. In this episode, we are diving into gut health with CVS pharmacist, Victoria Motola, who explains why so many of us live with stomach issues
Starting point is 00:12:54 we should not accept as normal. A lot of what I see is just like chronic bloating, chronic stomach aches. Like I get a stomach ache every time that I eat. And it just becomes like a lifestyle where, oh, yeah, you know, I just have a stomachache every day. Or I'm constantly feeling like gassy. And all of those things are not something that generally, if you have a healthy gut, you should be living with. So that's when we deep dive. We deep dive into your medication.
Starting point is 00:13:22 We deep dive into your OTC medication. And then at that point, we can probably identify something that we can change. Hear the full conversation, plus some fascinating facts about how gut health affects so much more than just your stomach on Beyond the Script, a podcast from CVS Pharmacy and IHeart Radio. Listen now wherever you get your podcasts. With the Venmo debit card, a taco in one hand, and ordering a ride in the other means you're stacking your rewards. Nice. Get up to 5% cash back with Venmo Stash on your favorite brands when you pay with your Venmo debit card. From takeout to ride shares, entertainment and more.
Starting point is 00:14:00 Pick a bundle with your go-tos and start earning cash back at those brands. Do more stash, get more cash. Venmo-stash bundle terms and exclusions apply. See terms at Venmo.combe slash stash terms. Max $100 cash back per month. 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.
Starting point is 00:14:24 Investors Edge. The last bastion of quality programming. With Gary Coltbaum. It doesn't get back. I was just thinking of the Justin Thomas's Jordan Spee's, Rory, who was out there, big noise, and all great players that were offered $100 million each. That turned it down. Now, keep in mind, these people are already well off.
Starting point is 00:14:59 I'm sure these people are worth $20, $30 million, if maybe more. Who knows? But LIV was offering life-changing. I hate to put in these terms, but they have the last laugh. And the PGA sold their soul. That's all. The Benjamins! Don't you love how life works?
Starting point is 00:15:33 Okay. Let me be blunt. Let me be to the point. Under no... Well, the best way I can put it. I can't begin to tell you how long we've been telling you how... 65 to 70% of the market was underperforming how they weren't doing anything, how they were in differing levels of bearish phases. Some things destroyed.
Starting point is 00:16:17 The regional banks, retail, destroyed. Others less so. We always say to you tongue-in-cheek, but kind of seriously, there's no better technicians in this world than us. we see things. We have a great feel for things. We've spent thousands of hours studying price movement and patterns. Out of nowhere last Wednesday we said to you, we thought there was a chance the broad market was about ready to start showing itself. We said it for two reasons, number one. Everybody started reporting all of a sudden. how badly the broad market has been. And we told you from our thought process and watching the markets, that typically when the reporters finally report something it's close to where, that's over. Meaning, the broad market would pick up.
Starting point is 00:17:37 Number two, we just saw what I call inklings. Little bits of this and that. What I mean by that is the ability to stop going down. in a lot of these areas, meaning they're still in bearish phases, but you can actually draw a line under price going back three weeks, four weeks, six weeks. But there was nothing to say, nothing to do because nothing was going on. And in fact, the week before, a few things were heading into new low ground. We use the words, new relative low ground. And then Thursday, we had a strong day. But I wasn't that impressed. We recognized a few things turning up. We wanted to see more.
Starting point is 00:18:35 Friday was the confirmation. And we told you that. And all I can tell you, the Dow was down 190 yesterday. The Dow was only up 10 today. The market was terrific. With the Dow will be up 10 today, advanced declines on New York, 3,058 up, 887 down, 3,071 up, 1123 down on the NASDAQ. The broad market is lifting. The Russell 2000 today was up, um, 8, 3, 2 and a half percent with the Dow flat. The Russell 2000 growth, 2 and a half percent. The midcaps, 2%. The regional banks, 4.5%.
Starting point is 00:19:35 The banks, over 1%. My stuff screen, filled with retail, auto dealers, commodities, airlines, cruise lines, economically sensitive, financials, Bright green. Our call on the broad market is now gaining some teeth. Oh, housing, new high ground today. Our call on the broad market gaining teeth. As always, we will state to you, we have no clue how long it lasts or how far it goes. We're just letting you know in real time. We nailed that.
Starting point is 00:20:29 not easy because you're dealing with most things that are way down or down just turning the corner and you get little moves up moves down hit the resistance back away but leave no doubt today with the Dow up 10 3 to 1 we've seen days where the Dow was up 400 and we had 3 to 1 in the Dow today you just had a few names that sucked United Health was down 11 that whole group had a bad day Merck down 3 McDonald's down 4 they pulled in Microsoft 2 that still looks great
Starting point is 00:21:13 Amgen down Boeing down but just a lot of green and housing moves into new high ground today so we're just letting you know broad market better I'll take all the all days like today where the Dow's up 10 and advance declines of three to one. They're positive.
Starting point is 00:21:45 And I still saw some people today on Tube saying the broad market's not working. Oh my goodness gracious. So many people don't work at this. So I already did a bunch of scans. By the way, Royal Caribbean Cruise Lines is New Yearly High. Broke out at 80 a few days ago. It's already 90. I'm so P-O'd I didn't buy it.
Starting point is 00:22:13 Ford and GM are turning up. The regional banks are turning. up, banks are turning up, the housing, new high ground, bunch of retail turning up, auto dealers turning up. And I can promise you it's not going to be a straight shot. Why? Got resistance all the way up, but it's a start. So we're just letting you know, definitive, definitive broad market move here.
Starting point is 00:22:52 And we hope it lasts. Up next, the numbers. I'm Gary. This is the one only investor's edge. Hi, I'm Dr. Jake Goodman, host of Beyond the Script, the podcast where I sit down with pharmacists to answer the health questions you didn't even know you could ask at the pharmacy counter. In this episode, we are diving into gut health with CVS pharmacist, Victoria Motola, who explains why so many of us live with stomach issues
Starting point is 00:23:39 we should not accept as normal. A lot of what I see is just like chronic bloating. chronic stomach aches. Like, I get a stomach ache every time that I eat. And it just becomes like a lifestyle where, oh, yeah, you know, I just, I have a stomach ache every day. Or I'm constantly feeling like gassy. And all of those things are not something that generally, if you have a healthy gut,
Starting point is 00:24:01 you should be living with. So that's when we deep dive. We deep dive into your medication. We deep dive into your OTC medication. And then at that point, we can probably identify something that we can change. Hear the full conversation plus some fascinating. facts about how gut health affects so much more than just your stomach on Beyond the Script, a podcast from CVS Pharmacy and IHeartRadio.
Starting point is 00:24:24 Listen now wherever you get your podcasts. With the Venmo debit card, a taco in one hand, and ordering a ride in the other, means you're stacking your rewards. Nice. Get up to 5% cash back with Venmo Stash on your favorite brands when you pay with your Venmo debit card. From takeout to ride shares, entertainment, and more. Pick a bundle with your go-tos and start earning cash.
Starting point is 00:24:47 cash back at those brands. Do more stash, get more cash. Venmo stash bundle terms and exclusions apply. See terms at Venmo.com. Max, $100 cash back per month. Struggling to see up close, make it visible with Viz. Viz is a once daily prescription eye drop to treat blurry near vision for up to 10 hours. The most common side effects that may be experienced while using Viz include eye irritation, temporary dim or dark vision, headaches and eye redness. Talk to an eye doctor to learn if Viz is right for you. Learn more at Viz.com. Edge. He's got to be pleased with that.
Starting point is 00:25:22 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. And welcome once again to Investors Ed. By the way, there was absolutely no talk on the debt ceiling that just passed. The con was done.
Starting point is 00:25:50 The theft of the taxpayer continues on amounts unimaginable. And the great con as they know, we have to go back to our lives. And they'll start reporting on other things. You got a presidential election now, and that's going to be the big stuff. Chris Christie's now in there. Mike Pence is now in there. People are yelling and screaming why the Democrats won't let Robert Kennedy an anti-Semite. And, oh, yes, he's an anti-Semite.
Starting point is 00:26:25 He was kissing the butt of Roger Waters the other day. Gary doesn't like that. All right, but that's that. The market wrap brought to you by Investment-Models.com. That's Jim Rohraback, one of the great market timers. No great areas with the man you're either in or out of the market with his proprietary indicators. Go check it out. Investment-dashmodels.com.
Starting point is 00:26:49 As we said, Dow up 10. S&P only up 10. The NASDAQ was only up 46. NASDAQ 100 was only up 1. Transport's only up 70, but the Russell 3%. 2000. Let's see the Russell up the equivalent of 750 Dow points. That's what we mean by broad market. Mid cap up the equivalent of 750 Dow points. That's what we mean by broad market. My stuff screen, mostly green. That's what we mean by broad market.
Starting point is 00:27:29 And how we'll do this as we move forward is we'll just let you know what's showing up. Keep in mind, it's not like anything is leadership, it's recovery. There are some housing is leading. I'll tell you that. Cement is leading. I'm not kidding you when I tell you that. Coming on, airlines, go look at the symbol JETS, broke above a little range. I mentioned Royal Caribbean.
Starting point is 00:28:07 It's a new yearly high. Others not so strong, but coming on. Caterpillar deer, dead, turning corners. And let me repeat. Whenever we do anything in the market, we have no idea how long it lasts or how far it goes. We don't. Anybody who tells you targets six months out of year,
Starting point is 00:28:38 I was full of crap. They're just making it up out of thin air. What we just try to do is ride it out and hopefully get some darn good cushion for the corrections that are normal in any uptrend, notwithstanding disasters. Now, again, with all the bad news, and they're still coming. Everybody's wondering, how the heck is this happening? No idea. The great Steve Cohen, hedge fund manager and owner of the Metz, came out two weeks ago and said,
Starting point is 00:29:13 market's going higher because the Fed's not raising rates anymore. Could that be the reason? That wouldn't be my reason. But take that all away. All we care about, it's only one thing we care about is price performance and longevity. You know, before COVID,
Starting point is 00:29:37 where the market just got crushed, we owned Visa for three years. years. We would love to have something like that, two and a half years. I think it was a triple. Those are the things we live for. And I must tell you, it went some decent corrections, but we were so far ahead. And as they corrected, they corrected not as bad as the market. So you have the ability to hold. But when you're first buying things, you know, you want them to go. and go and go and go. And we have some things that are up double digits in the last few weeks.
Starting point is 00:30:22 We babysit them every day because what you don't want to do is let them go back to where they came from. And that could easily happen at any given point in time. And I say that because a lot of stocks are just very extended from their moves recently. and on crappy earnings. The story going right now is the artificial intelligence. That's doing some of the move. But the latest is the fact that the broad market last week picked up and we called it based on A, the sentiment part, and then it started to kick in gear.
Starting point is 00:31:11 and again, now we'll see if it's got longevity. We don't know. We just don't know. Who knows what the news can be tomorrow? We just don't know. Who knows what can cause something? You just don't know. And with this broad market, since it's just coming up
Starting point is 00:31:33 and still has what we call the left side, all kinds of resistance at higher prices, I can tell you, United Health, that turned up a couple of days ago, was down 10 today. There was some news on Medicare and all that for HMOs. That's little news driven, taking it back down. We'll see whether it can recover. But for the most part, you've got to step up here. And hopefully it gets two step up and then one step back and so on and so forth.
Starting point is 00:32:18 That's the hope for. So just letting you know, we'll keep watching it day to day with no bias. And those that listen each and every day intently, we want you to recognize how we went from a void to just letting you know to here we go. That is what is known as measuring the tape. That is what is known as focus. That is what is known is having a good understanding of price, markets, and movement. And that is what is known it can change tomorrow. We just don't know duration.
Starting point is 00:33:09 The one big strength today, the housing stocks. Really nice move. Ten days ago, we were telling you about a couple of housing stocks that looked to be gagging. but when the housing ETF, the ITB held the 50-day moving average of that all-important area to the penny and I'm a little P-Oed at myself that I didn't probe off of that
Starting point is 00:33:37 that was the end of the correction and it just so happened to be Thursday when did we tell you about the inkling Wednesday so we'll see where it takes us the Russell 2000, the Russell 2000, oops, ETFs, the midcaps, now starting to get going. And again, we do not know duration. We do not know how long.
Starting point is 00:34:15 We hope it's for a long time. And as we said to you with the big caps, ignore the boo birds. ignore the people that have been saying, oh, we're going to 3,000 on the S&P. It is an impossibility for us to go to 3,000 on the S&P right now. You got that? It's a 100% impossibility unless things change
Starting point is 00:34:49 and we'll be on if things change and if they do. You need to know that. They have no clue about what's going on in the market. If you're not taking down the big seven, there's no possibility. If the move in the financials here, hold. No possibility. If this broad market picking up, no possibility. If these small and midcaps turning up, no possibility.
Starting point is 00:35:24 Zero, not 1%, zero. until we see something different, just like what we came with you on last Wednesday. Up next, this, that, and the other thing, and whatever else. This is the one only investors edge. Hi, I'm Dr. Jake Goodman, host of Beyond the Script, the podcast where I sit down with pharmacists to answer the health questions you didn't even know you could ask at the pharmacy counter.
Starting point is 00:36:30 In this episode, we are diving into gut health with CVS pharmacist, Victoria Motola, who explains why so many of us live with stomach issues we should not accept as normal. A lot of what I see is just like chronic bloating, chronic stomach aches. Like I get a stomach ache every time that I eat. And it just becomes like a lifestyle where, oh yeah, you know, I just, I have a stomachache every day. Or I'm constantly feeling like gassy. And all of those things are not something that generally, if you have a healthy gut, you should be living with. So that's when we deep dive. We deep dive into your medication. We deep dive into your OTC medication. And then at that point, we can probably identify something that we can change.
Starting point is 00:37:13 Hear the full conversation, plus some fascinating facts about how gut health affects so much more than just your stomach on Beyond the Script, a podcast from CVS Pharmacy and IHeart Radio. Listen now wherever you get your podcasts. With the Venmo debit card, a taco in one hand, and ordering a ride in the other, means you're stacking your rewards. Nice. Get up to 5% cash back with Venmo Stash on your favorite brands when you pay with your Venmo debit card. From takeout to ride shares, entertainment and more. Pick a bundle with your go-tos and start earning cash back at those brands. Do more stash, get more cash. Venmo Stash bundle terms and exclusions apply. See terms at Venmo.com. Cash-back per month.
Starting point is 00:37:57 Struggling to see up close, make it visible with Viz. Viz is a once daily prescription eye drop to treat blurry near vision for up to 10 hours. The most common side effects that may be experienced while using biz include eye irritation, temporary dimmer, dark vision, headaches and eye redness. Talk to an eye doctor to learn if biz is right for you. Learn more at viz.com. You're listening to. What are we waiting for? Well, what are you waiting for?
Starting point is 00:38:19 One, two, ready, go. Action! In the Gester's Edge. With Gary Culper. So we started the show with a scam. Don't fall for scams. Ladies and gentlemen, if you're temple, or you're at church or a mosque or any house of religion.
Starting point is 00:38:56 And somebody comes up to you and sells you on religion and that he buys cigarettes in Maine and sells them in California and makes 50% on the middle. And he wants to cut you in. It's a scam. Same with what called food diverting. It's a scam. If you get an email from Nigerian King
Starting point is 00:39:19 that they have to move money out, and they'll give you a million of 10 million. It's a scam. If you get an email from the Best Buy Geek Squad that they charge your credit card $39.99. And if you want to cancel it, just call them. It's a scam. You got that?
Starting point is 00:39:43 And they know what the hot buttons are. Ukraine's a hot button. Send them money. It's a scam. And let me tell you something really important. now because I think AI is going to make it worse. I had some good friends that got a phone call and it sounded like their son that was in jail and he needed to be bonded out with $1,500. And they sent the $1,500. It was a scam. And what's going on now, they can get your voice
Starting point is 00:40:27 and send it to people. My father got a call supposedly from my son, Aaron, about being in an accident. These are bad people. They will suck the life out of you. Don't give any money to anybody you don't know over the web. If the IRS calls you, it's a scam.
Starting point is 00:41:00 If somebody, my favorite one, somebody called me to tell me I won the mega millions. Oh, really? All you got to do is send me 350 bucks on Western Union to a place in Bocca Raton, Florida. We'll send you the money. I said to him, wait a minute. How much did I win? Oh, five million bucks.
Starting point is 00:41:21 Oh, really, good. So I'll tell you what I'm going to do for you. Forget the 350 I'm going to send to you. Send me the $5 million and you take $100,000 for yourself. Oh, I can't do that. It's a scam. Now, you may be laughing, but you know why they are doing it, all these people,
Starting point is 00:41:43 all these criminals. Because they're actually making money off of it. People fall for it. I told you about this lady in New York lost $450,000. She kept sending more and more money, and then they threatened to go to IRS on her. It's scam. and we finished up with, there is no chance the bears are going to be right.
Starting point is 00:42:17 There is no chance the S&P's going to 3,000. There is no chance. Let me even give you a number here. There is no chance the S&P is going back to the lows of 3491 in October. There is no chance the lows of December at 3764. There's no chance of that happening right now because the technical condition of the market. The broad market has now turned up and they still have not been able to go after the big seven, which is 23% of the S&P.
Starting point is 00:42:59 Now, just like last week, we saw something and our favorite line that if things change, we'll let you know. Things change last week, we told you about the broad market. If things change again, we'll let you know. But until things change again, there is zero chance, which takes me to the next point. We don't know if it changes again tomorrow. Who knows? Who knows what can cause something? Russia, Ukraine, Taiwan, China.
Starting point is 00:43:42 Who the hell know? China just sent a war. ship, who was a warship, I think, in front of one of ours. And how about those China balloons? You never know what's tomorrow. All we can tell you right now, the evidence at hand. Broad markets picking up. S&P just broke above range. Housing and new high ground, the new yearly high list is starting to pick up. And now the Russell and the small and the midcaps have turned up. And if you want to know what the hell we're talking about, go look at the I-W-M, I-W-O, and M-D-Y. And you'll see what we mean by turning up.
Starting point is 00:44:30 Should not be too hard to understand what we mean when we say that. And I want to repeat again, until things change. But as of right now, a day with the Dow is only up 10. but the small and midcaps are up like 700 Dow points. That's everything you need to know about the broad market. And lucky you and lucky me, we're going to work our tail off and we will be back here tomorrow just in case things change. But they don't usually do that so quickly after a broad market is bottomed.
Starting point is 00:45:17 simple as that and by the way what happened to sell in may and go away ain't happening next thing coming up we got the j powell wednesday i think they've already telegraphed that they will not uh be raising rates they will not be lowering rates but they will not be raising rates uh what the heck that means beats the heck out of us and as we said yesterday, if you hate the markets, you're getting 5% money markets now, which is better than zero. Anyway, you'll have a great evening drive carefully. When you get home, do like we do.
Starting point is 00:45:57 It's quite simple. Make sure you hug your family. Make sure you hug your children. They will feel better. You will feel better. Tomorrow, I'll be talking about all this on Fox Business Network with Charles Payne in the 2 p.m. hour.
Starting point is 00:46:12 Don't miss it until the same. same time tomorrow with this show. Don't miss that. Have a great evening, everybody. Peace out. Bye-bye. 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 GaryKK.com. Hi, this is Danielle Robey, the host of Bookmarked by Reese's Book Club, a podcast by Hello Sunshine and IHeart Podcasts. I'm partnering with Simple Mills and I've just found my new go-to reading snack. Simple Mills almond flour crackers. Think of this as a quick book
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