Investor's Edge with Gary Kaltbaum - CHOP FEST

Episode Date: June 6, 2022

More Info At: http://garykaltbaum.comMore

At CVS, it matters that we're not just in your community, but that we're part of it. It matters that we're here for you when you need us, day or night, and we want everyone to feel welcomed and rewarded. It matters that CVS is here to fill your prescriptions and here to fill your craving for a tasty and, yeah, healthy snack. At CBS, we're proud to serve your community because we believe where you get your medicine matters. So visit us at CVS.com or just come by your food. store. We can't wait to meet you. Store hours vary by location. Investor's Edge with Gary Coltbaum. Straight talk about you and your money. Now from the BizTalk Studios, here is Gary Coltbaum. And welcome once again to Investors Edge. I'm Gary Coltbaum,

your host day. Thanks of being with us today. Glad you here, ladies and gentlemen, happy that you are listening. It's Monday. It's June 6th. It's 2022. And I think I'll be able to get through a show without coughing. Thank you for your patience on Friday as we are COVID-bound. Anyway, update. Tested last night, still have COVID. I will tell you, though, my only symptoms, I feel like I just need to sleep a lot. Little scratchy throat, that's it. No fever. Just feel like I need to sleep at this juncture. But I just feel like I need to sleep at this juncture. still had it as of last night. I will not be traveling this weekend.

I told you out of wedding. And we'll just air on the side of caution. We appreciate all the kind words and goodwill that we receive from all of you via email. A couple of people called. And for those that were, I got to tell you, there's some weird people out there. Everything's politics. Everything's a conspiracy. Everything, oh, they're all out to get you.

I had one person email me that said, if I took this remnisvir, I'm going to die. I don't even know how to pronounce it. I don't know what happens to people. They fall in line behind a bunch of these conspiracy nut jobs that everybody's out to. Do you know, I know people that I really believe to be sane. they believe that the vaccines, they are inserting chips into our body to follow us. And they're hearing it from people that have

a zillion followers on their shows or their social media. And you know me. I can't stand the government. But man, oh, man, oh, man. And all the vaccine companies are going to kill you and die. Oh, what was one I got? Oh, that the Pfizer CEO said that he wants to knock out 50% of the population. So I wrote back to the guy, I'll give a thousand bucks to your charity, show me the video, sends me back an email that said, oh, it was a lie.

People are so weird. I don't know. I don't know what happened. At what point? I mean, I guess I can get a bigger audience if I can just do the, talk about aliens and stuff, right? Whatever. Anyway, just letting you know, and I will tell you for the record, it's still no fun.

And I feel fortunate I did not get it when it was really, you know, putting people away. And believe me, though, I'm still watching, though. Anyway, thank you for being here. Hope you had a good weekend. I'll tell you what I did this weekend. Nothing. I relaxed, laid out in the sun for a little bit, hung out with my dog, stayed away from my family, and did nothing. Oh, I watched Raphael Nadal.

Win another friend show a bit. Watch this girl win the women's. What else did I do? Yeah, that's whatever. Little golf, watched golf. And that is all. So what we do here is Mark. What we believe in what we have proven to you is that we're very good at guiding you through, especially the bad markets.

You know, in good markets, you know, everybody's bullish all the time. Everything's great. You know, everybody's the same way. What we do in bull markets, here's the leadership. Here's still what's not working. Remember, in strong markets, it's easy as to isolate the weakness. So anyway, we're in this bare market of unknown time and price. The only bull areas remain energy, certain commodities, what I call a smattering of a few other things.

But after that, just the sea of nausea, different levels of bare markets and in many cases unprecedented. and we have really stepped up our game and walked you through this whole thing. And if there's nothing we do going forward is what we did for you on all the crazy, yelling at you, not really yelling about the meme stocks, about the short squeeze crap, the SPACs, marijuana. No, not smoking marijuana, the marijuana stocks, which are now into oblivion. Absolute oblivion.

You remember how hot they were, right? Do you know there's one Aurora Cannabis topped out October 31st, 2018, at 150. Hottest thing. It's $1.54. Last year, it was still at $19. It's $1.54.

These are things you must remember. And what we did for you, we just did logic. One plus one equals two. We walked you through why. Don't own marijuana stocks. Little did we know. A stock goes from one.

50 to a dollar 50. Holy crap. So we're going to continue to do the job. The roughest part of a bare market are the rallies and how to handle them. They are a pain in the rear because when you think they're ending, they'll go a little farther and then when they go a little farther, they think you think they're going more and then they crack them. Very tough. That's why what you have to do, you got a big picture everything. Very much the big picture. So I wanted to start out with that because I had to mention something to you. I got sent a tweet by somebody I don't even know that there are a bunch of SPACs today that are down up to 40% today. And lo and behold. And I I'm going to give you one name called Sound Hound.

It's a SPAC. A month ago was $18. Today was down 48% to $4.10. I don't care what they do, what SoundHound voice platforms, whatever. Symbol zero W-L-T. It was a SPAC back in last June. $10 deal. And they merged health devices.

Don't know what happened today. Stock was down 34%. Down a buck 77 to $3.44. BuzzFeed, remember that? This is this independent digital platform for news and this, that, and the other thing. They did it via SPAC. $10. They got it up to $15.

They got it up to 15. Today it was down 41% to $2.23, down a buck 53. By the way, volume was gargantuan. Symbol N-U-T-X. Recent. I'm not making this crap up, by the way. On April 4th, it was $52.80. $6.33 today, down $2.95.

L-I-D-R was down two bucks today to $3.67. That was a SPAC a year ago at 10. Close the $3.67. Symbol Dave, down 27% to $1.45. It was $15 in February. Symbol S-T-R-Y. That was down $3 to $7.61 today. Down 28%.

By the way, all on volume. And I'll finish. I'm just going through what was sent to me. HLGM, $10 SPAC, went to $16 in January, close at $3.5.5 today, down $0.03.19%. We really want you to remember all this. We really do. Remember I told you I had this hunks of junk screen? By accident, I deleted it. I got to pick up the screen again.

I'll be able to figure out a lot of the names. But I think what happened with this, if I was to guess, somebody neck deep with a lot of this blew up. Anyway, you get the moral of the story. Up next, today's market wrap. This is the one only Investor's Edge. Hi, I'm Gary Kalpom, hosted a nationally syndicated radio show Investors Edge. We're not just handsome radio people.

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Learn more at Viz.com. 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 I gather there were a lot of those SPACs today that did that. It's stunning. That's all I can tell you. It is absolutely stunning the losses that have been in these things. Yeah, I found a few others. Let's see, U-O-N-E. Urban 1. Oh, this is one of these.

Just so you know, they also had a bunch of short-squeeze stocks just destroyed today. Get this. Urban 1. This is radio broadcasting for, I'm reading, Afro-Americans through 63 stations. They have revenues. Down $5.5.5 to $7 today.

Cellularity, down 36% today. Forge Global, $10 Spack, get this. I guess I missed this one, rallied to $47.5 bucks in March. It closed down 25% today to 13. 47 to 13. Carver Bank Corp, another one. It moved with like that urban one. This is a savings bank, down 22%.

to $8.79. I'll do a couple more. NRGV, Energy Vault Holdings, $10 deal, went to 22, down only 17% today to 13 in change. So they are really coming after some of the specs here today. I don't know why. I just know what is. And again, I can't say this loud enough. You better all remember this for the next go-round. And there's still many people anticipating that these things will get a life again. You know, my buddy Charles Gasparino, from Fox Business, he's fighting off these AMC people that keep, you know, he's been telling them all the way down, so have I. And they keep fighting it. And it's gone from 72 down to 12. And they keep thinking, oh, they'll end up being another short squeeze.

Maybe there will be. Maybe they won't. All I know is it's gone from 72. to 12 and people are still in anticipation. Be careful. The next thing I want to bring up because I was on because we get to do TV from our home office. I was on TV today, even with COVID, because I am a trooper. And I was asked about quality stocks. And I said something that got a lot of play, a lot of emails because people talk

oh you got to own quality got to own quality good balance sheet well I don't know what the definition of quality is but I gather yeah I'm making money good balance sheet I said

the only quality stock is the one that goes up and I got a ton of emails on it and I just want to make sure you understand where I'm coming from on this the only quality stock is one that goes one that goes up. That's all. If I said to you, ABC Corp is quality, got to own it, it is quality, and it goes from 50 to 25. Do you care that it's considered quality by me or by anybody

else? If I told you it was a piece of crap, but I told you to buy it went from 50 to 100, would you care? Now, you know me, I don't touch pieces of crap. My point is, you get paid on price going up or down, not on what somebody believes to be quality. I can promise you, when Netflix was $701 in mid-November at an all-time high, that was quality. Netflix at 197 today is Drek. The only quality stock is the one that goes up and performs for you. Simple as that. I think it was O'Neill that one said the only good stock is the one that goes up.

I use quality. And you don't need me to tell you. You do know, SAP is a great computer software company based out of Germany. tremendous quality company. It's gone from 170 to 100. Now, do you care whether it's quality or not, or do you care that's gone from 170 to 100? That's why when we say to you,

price first, everything else second, and I'm addressing this because, man, do we get a load of emails on this? And it's just simple logic. Simple. But doesn't quality ego always come back. No. No. Intel is a quality semiconductor company whose high in the year 2000 was in the 70s. It's 43. 22 years later. I'm not making this up. Mark, unbelievable drug company.

It's up 4% since the year 2001. Total. Apple's. Apple's. gone from 32 cents to 145 during that time. Which would you rather own? So I just had to bring that up. It just showed up. And lastly, in the, hey, I got this today, do you know there's now been $1 billion lost in coin scams? Scams.

You know the ones that we read to you on air that people try to get us into? They're saying $1 billion. It's got to be more than that. And last but not least, Elon Musk reversed his stance from last week that he was getting rid of 10% of the... He better be careful. You know, when you become the richest man on Earth and you've been so successful, I think you're omnipotent. Last week he says he's firing 10% of his people. What do you think 10% of his people were doing this weekend, crapping in their pants?

Now he's not. Regulators probably waking up again. Up next, today's market, lots to say. This is the one only investors' edge. All right, quick quiz for the hiring managers out there. What's worse? Being understaffed or being poorly staffed? Well, that's a trick question, because both are recipes for chaos. Either way, just say to yourself, this is a job for indeed sponsored jobs. You'll get matched with candidates that meet the skills, certifications, and everything else you're looking for. Or go a different way and get no traction. Seriously, sponsored.

jobs posted directly on Indeed are 95% more likely to report a higher than non-sponsored jobs. It really is a no-brainer. Spend less time searching and more time actually interviewing candidates who check all your boxes. Less stress, less time, more results. When you need the right person to cut through the chaos, this is a job for Indeed's sponsored jobs. And listeners of this show will get a $75 sponsored job credit to help your job get the premium status it deserves at Indeed.com slash podcast.

Just go to Indeed.com slash podcast right now. Indeed.com slash podcast. Terms and conditions apply. Need to hire? This is a job for Indeed's sponsored jobs. 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,

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tastes like. America is talking. Investors Edge. He's got to be pleased with that. The crowd is just on his feet here. He's a Cinderella boy. With Gary Coltbaum. It comes highly recommended.

You're going to feel better if you talk to him. Okay. So let me just start out by saying the Dow was up 336 earlier today. The NASDAQ up 233. The worst the Dow was was down 50. the worst the NASDAQ was was only down 9.

So we come out of the box hot, we sell off, futs around, but still finish, not very good. So the market wrap is brought to you by Investment-Models.com. That's Jim Moraback, 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. way the greatest invention is gatorade when you get you know whatever kind of really does the trick so the dow is up 336 uh finishes only up 16 what does that mean well opens up hot sells off just tells you right above here only a little bit above here they're still sellers simple as that

and in case you don't know we're off the lows but then the last six days back and forth and back and forth reversals and up and up we had a reversal to the upside on Thursday now a little reversal to the downside the S&P was up 12 today at one time today though was up 60 same thing the NASDAQ was up 48 today was up 233. Nasdaq 100 was up 51. Transports up 109. Advanced declines on the NASDAQ were basically flat though. On the New York 23 up 18 down. I do want to mention Amazon in case you don't know it will not be a typo. If you have 100 shares in your account last week, you got 20 times more today. But the price, just letting you know.

Amazon did a 20-for-one split was up almost seven today, finished up only two and a half. Two and a half is actually 50 for Amazon. But now get used to, it is a $124 name, and I do want to let you know they now have over 10 billion shares outstanding.

Apple has 16. Now I want you to listen carefully. these big stock splits usually happen very late stage or in the late stages just letting you know we'll see I'm talking to 24 you know Apple did a four for one in 2020 interesting when Apple did that four for one it was 138 it's only 146 now so that's kind of held it a little bit but Amazon's now got a 20 for one. That's a lot. Google will be doing a 20 for one in July, I believe, July 15th.

Just want you to keep that in mind. No matter what we watch price, and Amazon right now is wedging up into the declining 50-day moving average. The stock has done, let's see. stock is trading where it was May of 20 and is still down off the highs about 34%. We'll see how it plays out. Just keep that in your little file manager. 20 for one stock splits.

Now I do also believe Apple may have done a 7 for 1 a while back too. I have to double check. 20 for 1 though, that would be a lot. Very important to keep all this in mind why. this is all about the study of bull and bear markets. So all we can tell you should have been better today, could have been worse, still less than thrilled. What I wasn't thrilled with today is yields, 10-year right through 3% member. The 10-year yield held the 50-day moving average on the pullback.

It's now at 3.038. Higher yields are of no help. It's the best way I can put it. Fundamentally, your mortgages go up. The amount you pay each month, go up. The higher the yield goes up, the valuation of the market typically comes down. Just letting you know. And the same for oil prices.

Oil didn't do much today. That is a one-two. two punch that if it continues nothing good and you all know where you live in different places are different prices i mean if you're in some areas i mean California what they're doing to you is beyond the beyond i am stunned they don't just dump those taxes on you guys you're just get rid of them for now in california but why would they do that they're insane over there Do you know, they have a video of a 16-year-old running over a mom and the kid on purpose. Carf goes away.

The kid's already been arrested for other things in the past. That moron DA in L.A. gave him five months in Camp Nothing or Other for kids. Seriously. And it gets wiped off his record at the, I believe, the age of 18. They're sick in the mind over there. Attempted murder and the kids go on into a camp. And it's on video.

I think the guy's name is Gas Gone. What will it take for someone in his own family, having somebody trying to run them over? God forbid, of course. What will it take for these idiots who coddle criminals while screwing the citizenry? amazing to watch. Notice the segue.

Mentioned California how to get into that. Ill. Just quite ill. Overall, I can't take too much out of the market today, except had a better chance. It looks like we're maybe in a chop fest. If, there's an if. Distribution really shows up here.

And they distributed stock today, but not I wouldn't call in a vicious fashion. but if they start distributing here, that's selling, big volume selling, that wouldn't be good news. I'm going to give you a number. NASDAQ 119. A break below 11,900 on the NASDAQ, we wouldn't be happy. Bulls should not be happy. NASDAQ 100, we'll call it 12-447.

I don't need to give you any others. Why? Those will be the important ones. Those are your risk on, risk off, most important areas. And again, less than thrilled. And if they come after Amazon here, it would be classic. Help today. Google was up 45 today, but looks nothing more than a, you know, rally up into the declining 50-day-moving average,

normal, volume anemic, and the same for others. So stay tuned. No, really, stay tuned. We'll keep in gear. The toughest part is these counter-trend moves. Up next. What else? We'll figure it out. I'm Gary. This is the one only Investor's Edge. All right, quick quiz for the hiring managers out there. What's worse? being understaffed or being poorly staffed? Well, that's a trick question, because both are recipes for chaos. Either way, just say to yourself, this is a job for Indeed's sponsored jobs. You'll get matched with candidates that meet the skills,

certifications, and everything else you're looking for. Or go a different way and get no traction. Seriously, sponsored jobs posted directly on Indeed are 95% more likely to report a hire than non-sponsored jobs. It really is a no-brainer. Spend less time searching and more time actually interviewing candidates who check all your boxes. Less stress, less time, more results. When you need the right person to cut through the chaos, this is a job for Indeed sponsored jobs.

And listeners of this show will get a $75 sponsored job credit to help your job get the premium status it deserves. At Indeed.com slash podcast. Just go to Indeed.com slash podcast right now. Indeed.com slash podcast. Terms and conditions apply. Need to hire? This is a job for Indeed. D's sponsored jobs.

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 dimmer, dark vision, headaches and eye redness. Talk to an eye doctor to learn if Viz is right for you. Learn more at Viz.com. Enjoying a healthy dinner that tastes great means eating out at a pricey restaurant, right? Wrong.

Healthy Choice Simply steamers are delicious and healthy. The tray-and-tray steam technology delivers crisp veggies and tender protein and tasty selections like Healthy Choice Simply Steamers grilled chicken and broccoli Alfredo. It's a satisfying meal with 28 grams of protein and nothing artificial. Healthy Choice Simply Steamers. What having it all tastes like. You're listening to. What are we waiting for?

Well, what are you waiting for? One, two, ready, go. Action! Investors Edge with Gary Colpaw. And welcome once again to Investors Edge. Man, I'm going through some of these SPACs here. Wow. Wow.

We've been very repetitive with our verbiage on these things. Because we told you we thought this was nothing more than a money grab from Wall Street. And just so you know what these things are. All it is, instead of an initial point. Public offering means, hey, I have a company. And this is what it does. And this is earning sales, competition, risks associated. And they have to go through all these motions.

You can go look up how to bring initial public offering to the public markets. You've got to do road shows, prospectus, so many things. And then come public and hopefully do well. guess what a SPAC is. They used to be called blind pools. And all you do is you create a blind pool with nothing in it. Nothing. And you have two years to find the company to put into it and trade it on the market.

And guess what they did? They saw people were frothy and speculative. Remember, this is one of the bubbles. So they kept coming out with more and more and more and more and more and more and more these blind pools. And then what did they did? We warned you. Not everyone, but a ton of them. All said they were merging with companies that were doing the same thing. Startup companies. You hear that? Startup companies to produce electric vehicles. Can you name on one hand how many auto companies in the last hundred years have made it? And one by one.

They kept naming them and naming them, and we kept yelling at you and yelling at you. And it turns out some of them were fraud, bad players, simple ride, 31 down to a buck 81. The guy says they had contracts and then goes on CNBC and says, well, they're not really contracts. NKLA, I believe there was an indictment there. This was a SPAC at 10 bucks. they ran it up to 94 bucks. Electric vehicles? It's six.

Guess how many electric vehicles? And then the battery companies, you get my point? This was Wall Street at its worst. And the regulators, God bless them. Not much they can do. Hey, it's legal to do these things. Regulators got a tough job

overseeing the things they have to oversee, let alone Wall Street taking advantage of the customer. I mentioned to you the coin scams. I can't imagine. I had no idea. There are 19,000 coins. I thought there were just 12,000. Most of them are zero. Why do you think these coins came out? You got it. Maybe it will be the next Bitcoin. Well, guess what? They got one in Dogey coin. came out as a a joke. Let's do a joke. Dogey coin. And guess what?

Somehow got into the mainstream. Went to 70 cents. It's back to 8 cents. Try selling. Elon Musk seems like he's neck deep. He keeps talking about it. And all the tout artists are still out there while people have gotten murdered

in the whole space. These are the things I'm begging you, guys to remember going forward. Markets are tough enough. Don't make them tougher. We're in a great unwind right now that not enough are talking about. We are. Because we have no agenda, ulterior motive except to protect you. I can promise you, before this bare ends, they'll be more exposed other things

happens every time stay plain vanilla you know what that means right plain vanilla use stops never lose big a stock that drops 33% has to go back up 50

a stock that drops 50% has to go back up 100 and there's been a lot of 50s and not just Netflix is 71 as we speak. Make that 72. Facebook's 49.5. Use these as lessons. And as I always say to you, when somebody comes to you in Temple of Church and tells you they buy cigarettes and food in Maine and selling in California, they make 100% on their money. And because they like you so much, they're going to cut you in, you're going to lose a lot of money. You got that? We think people

are nice. We think they're generous. But if I have 100% gain on something, that I know I have 100% gain on. I'm not telling you. And I'm the most generous. Hope you're listening. Because not enough people are telling. You'll have a great evening drive carefully. I am going to sleep.

And when you get home, do like we usually do. But I can't right now because I have COVID. Make sure you hug your children. Make sure you hug your family. They will feel better. You will feel better. I promise. Until tomorrow. Well, I'll be taking another test tomorrow. Hopefully I'm good. Until tomorrow,

same time. Thanks for joining us. Always appreciate your words. Bye, bye, all. This has been Investor's 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. 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.

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