Investor's Edge with Gary Kaltbaum - Confirmation

Episode Date: March 29, 2023

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

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Starting point is 00:00:00 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 cbs.com, or just come by 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 Colpom. I'm your host.
Starting point is 00:00:50 A thanks of being with us today. Glad you here, ladies and gentlemen, happy that you were listening. It's March 29th. It's 2003. And there are certain days where I do the show, And not a lot to say about markets. Other days, we got things to yap about. Today's one of those days that we will put aside until later, because I have a lot of different news to cover, a lot of different news to cover that is meaningful and matters to you and your money. But first, if you do not get this show in your city,
Starting point is 00:01:33 this radio show in your city will post it at gary k.com we'll also post it on our twitter feed so you go on our twitter put our name in and follow us we're very sarcastic and charming and of course you can email me just be nice okay that said the market rap is brought to you by investment dash models dot com that's jim moriback one of the great market timers no gray areas with the man you're either in or out of the market was proprietary indicators go check it out investment dash models dot com
Starting point is 00:02:08 I'm going to first give out the numbers and then I'm going to be descriptive as descriptive can be on a radio show we're a lot more descriptive when we do our webcasts each and every evening the DAP 323
Starting point is 00:02:26 doesn't mean a lot to me S&P 56 means a lot of little bit more to me. The NASDAQ 210, NASDAQ 100, 235 means a ton to me. The socks up almost 100 means a ton to me. Transports up 137. Advanced declines were good. New highs still not much. What matters most to me is two things are sticking out now. I am not so sure what or sure if I've mentioned this yesterday, but are central banks printing money again?
Starting point is 00:03:12 And as you know, one of the things that drives market is liquidity, the printing of money. Now, in the past when they printed money, they would buy up our bond market and rig and manipulate everything. That took rates down to nothing. This time, they're loaning the money out to the bank. to the banks. So their balance sheet went up $400 billion in the last couple of weeks.
Starting point is 00:03:42 And I've noticed it and I've recognized it, but there was still nothing to do in the market. I will tell you, I took a couple of positions in the last two, three weeks. I sold them out. And I'm not upset I did because really no blood
Starting point is 00:04:02 and because the market's been drifting and because we crashed the financials, the insurance, the economically sensitive, the airlines, the cruise lines, the hotels, the industrials, the energy, a lot of the, you know what I'm saying. But there's been one area near and dear to my heart that I'm always watching, and that is growth slash technology. And why is that? Because as we have stated to slash semiconductors, we have stated to time and time again, these areas lead markets up and lead markets down. It's been going on forever.
Starting point is 00:04:51 It used to be financials, but they lost the mantle in 08. One of our great calls was the financials, was the financials leading the market down in 0708? And I remember on radio saying, there's something up. And little did we know that they would just crumble the little hell live in hell out of them. And a bunch of them went out of business. I mean, there was no way of predicting.
Starting point is 00:05:21 Bear Stearns, Merrill Lynch, Washington Mutual, Wachovia, countrywide financial, Lehman Brothers. There wouldn't have been more, except they use our taxpayer dollars. Anyway, I digress. Before today, and straight up front, I was worried about technology going into about 1 p.m. yesterday. And then the technology arena reversed about half the loss, giving it what I call semi-washout. The other part of the equation was the 50-day moving average had held for the semis and a bunch of names. But what I was worried about is a bunch of semiconductor stocks broke support levels.
Starting point is 00:06:28 We walk into today. Now, Micron, they announced a $1.91 loss. Huge loss. A $1.3 worse than estimate. a 52.6% drop in sales. Stock was up $4.20 today. It was up in the aftermarket yesterday. I doubt that's the reason.
Starting point is 00:06:59 But today, for whatever reason, the market went and bought up tech, semiconductors, and the like. And what it does now, and I want you to listen carefully, sets up another leg to the upside for these areas. Didn't say it is broken above that upside, but sets up.
Starting point is 00:07:34 And typically when it sets up this good, it usually will be successful. But usually is not 100%. But if the Q's, the QQQ, NASDAQ, NASDAQ, the last week, which would break above the highs of February, it would be considered what we would call, it's a pattern. It's a name, a cup and a handle. You look at a cup and look at a handle from the side.
Starting point is 00:08:10 That's what it looks like. Usually a successful move. The semiconductors, little less so, more. flattish f l-l-t-t-i-s-h but same thing a move above and the nasdaq the same thing less so why the nasdaq was a bunch higher back in early february we have a little more work to do but a move back above 12 000 closed at 11926 would go a long way and then there's individual names i i got to tell you yesterday I went home and I was like why didn't I short lamb research breaking the 50 day moving average what's a matter with me today it gaps up to the 50 day and finishes up
Starting point is 00:09:05 30 bucks right back above and that's not a leader so imagine what the stronger stuff did today just good moves and we're going to keep our fingers crossed that we get a bunch of weeks, a breakout to the upside, we'll get 100% in, and hold on for dear life. Why? Because technology leads both up and down. How long it would last, don't know, how far it would go. I don't know.
Starting point is 00:09:40 Are there warts? Oh, hell yeah. J.P. Morgan was down until the last half hour while the Dow was up 275. For starters, financials, that they're, over with yet. Hopefully it is. Maybe it is. All I can tell you, I've yet to do my scans, but I was scanning all day. Just got a bunch of setups and individual names to break above range and take this thing. Higher. Not guaranteeing. It's all we can ask for. And it turns out those few
Starting point is 00:10:20 ugly days in tech were nothing more than a pullback towards moving average, a hold yesterday, and a move up today. Now we need 12,000 on the NASDAQ taken out. We need on the NASDAQ 100. There was a reversal day. 12943 was the high. I'll call it 129. You're 12846.
Starting point is 00:10:47 But you really need to take it out. And on the socks, semiconductors. 32, hun. So just letting you know, Really good day today. And I don't even care about the Dow. This second. Up next, more. I'm Gary. This is the one-only Investor's Edge.
Starting point is 00:11:10 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 00:12:01 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 888-4-22-559. That's 888-4-22. 5559. That's 888. 422. 55559. Investment advisory services offered through call bomb capital management.
Starting point is 00:12:38 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, we should not accept as normal. A lot of what I see is just like chronic bloating, chronic stomach aches. Like I get a stomachache 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.
Starting point is 00:13:17 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. 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. Listen now wherever you get your podcasts.
Starting point is 00:13:48 When energy dips, your reviving routine deserves more than a quick fix. Reach for vital proteins, collagen, and protein shaking chocolate with 30 grams of protein. and 10 grams of collagen peptides. It helps support healthy hair, skin, nails, and joints and a smooth, ready-to-drink, shake. So your afternoon reset actually sets you up for success. Vital Proteins. Stay vital. Visit VitalProtene's.com and get started.
Starting point is 00:14:09 These statements have not been evaluated by the Food and Drug Administration. These products are not intended to diagnose, treat, cure, or prevent any disease. 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 00:14:30 Investors Edge. The last bastion of cross. Quality programming with Gary Coltbaum. It doesn't get better than this. By the way, I'm edging towards Miami against Connecticut. It's five and a half. I'm not sure. We'll let you know Friday.
Starting point is 00:14:58 I have no feel for the other game. The reason why I'm not sure, who have I loved all this way? I've loved Connecticut. They're heads and tails above. But Miami has, I think, what it takes to keep it close, if not when. But I'm not sure yet. I may just come back and say Connecticut. The other game, again, not a freaking clue.
Starting point is 00:15:25 Maybe the under. By the way, got a buddy who's very good at this. And he liked the over under in an NIT game, Wisconsin against North Texas. Want to hear how crazy it was? So I make a small bet. And there's no doubt I'm losing. The over under was only like 115. You know, usually over under is a 130.
Starting point is 00:15:50 So the bet was they're not going to score much. So they have like 104 points with nine minutes to go. It's over. I lose. Wisconsin doesn't score a point in the last nine minutes. They ended up at 110. I think they scored six points total in the last nine minutes. Unprecedented and I won the game.
Starting point is 00:16:18 I put it in the L column. That was weird. That's all I can tell you. And I've had my sheer bad losses, though. So we'll call that a good win. You know, I've had unders and NBA games, and it finished under by 30 points, but it went overtime. And then it finished under after the first overtime.
Starting point is 00:16:39 And then it still went to a second overtime, and then you lose, that type of crap. Anyway, that was a good one. All right, back where I went. was I'm really careful about mentioning names. We're just going to say on a technical basis, workday moved above a little range here, Salesforce.com moved above a little range, Cirrus Logic, let me see if that did it,
Starting point is 00:17:11 moved above a little range, Rambis moved above a little range, STM Micro. Yeah, I think it fit. STM Micro was breaking down, held the 50 day yesterday reversed and now moving above range and you're ready for this Intel so we're going to give you a little lesson here
Starting point is 00:17:35 do you want to know what what a bottoming pattern looks like go look at Intel over the last six months and I say this let me give you some numbers Intel's last four quarters earnings down 35 down 79 down 59 down 59 down 99 down 90 sales down 7 down 22 down 20 down 32 but the stock has gone from a high in April of 21 of 68 and may after 50 60 percent just maybe found a low there's been some insider buying but they bought way higher also now kudos I don't know if you know who Dan Niles is brilliant guy
Starting point is 00:18:21 and I didn't listen to him you know what his two favorite stocks were coming into this year. First one was Facebook. By the way, that was near the 130 level. And I'm like, what is he nuts? Earnings down 18, 32, 49, and 52? The market, the stock's been on a ride. His second one was Intel.
Starting point is 00:18:42 Not because anything great was going on, but he said, oh, this thing has to be wrung out. And he's been right. So even Intel, go take a look, you'll see what I'm saying. So the socks, now there's some symmetry riding up the 50 day. The NASDAQ 100 held the 50 day on the pullback mid-March and now looks poised. And let me state for the record, it looked poised five days ago and reversed badly down that day. For all we know, we break out tomorrow and the same thing happens.
Starting point is 00:19:23 Got to go with the opportunity. What's our key? What's our failsafe stops in place in case. But we know what the potential for a move higher looks like. We got that potential. And I'm thrilled. I want to be 100% invested again. And you know the market's good when I'm 100% invested.
Starting point is 00:19:47 And you know since February 21, the market has sucked. Notwithstanding some counter-trend rallies. and some oils the beginning of 22. So fingers crossed. And even the Dow had a good day today, which is bringing up the rear. So all the worst areas that just went straight down, a little bit of turning the corner,
Starting point is 00:20:18 bouncing up a little bit. I'll gauge them tonight. But I went through a bunch already, blah. That said, with the tunnel vision that we had, we'd go through other names in tech and all that, and they look like they did the job today, notwithstanding tomorrow. For all we know, we walk in tomorrow, they gap it down. It is a weird market, right?
Starting point is 00:20:41 Now, back on what we said about the money printed. So as you know, J-PAL printed a crap load of money and manipulated the bond market. That was called quantitative easing. And his balance sheet would go higher and higher. Yeah, his balance sheet of conjured up money. Well, just letting you know, it has moved up $400 billion in the last two weeks. That is liquidity. It's not what they call quantitative easing.
Starting point is 00:21:13 It's being loaned out. And possibly it's going to matter. We hate that we even have to talk about it. We hate that we even have to bring it up. But it is reality. We deal in reality here. And maybe cause and effect today? don't know we'll just continue to follow the bouncing ball just remember unlike most we don't have
Starting point is 00:21:41 25% to make back we pretty much stayed out of the bare market and we definitely just stayed out of the crash and in case you don't know we just had a crash in the last three weeks with the banks that took down a lot of other areas and maybe hopefully that's over with we think now what about we tell you about how high valuation are how earnings suck well I just reported to you how bad intel's earnings are and the stock's moving we just reported to your micron micron announces a dollar 91 loss 52% drop in sales you know what the stock did today up four and a quarter on 267% extra volume they were in there buy it for whatever reason we don't rationalize we go with the flow market over second
Starting point is 00:22:40 sector over stocks and that semiconductor sector looks like it wants to gain some here. We'll see. Tomorrow's another day. We have no preconceived notion that they'll throw in a hook again tomorrow. Markets out to piss off everybody, ladies and gentlemen. Up next. More. This is the one only investors.
Starting point is 00:23:01 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 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.
Starting point is 00:24:01 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. 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. When energy dips, your reviving routine deserves more than a quick fix. Reach for vital proteins, collagen, and protein shaking chocolate.
Starting point is 00:24:41 With 30 grams of protein and 10 grams of collagen peptides, it helps support healthy hair, skin, nails, and joints, and a smooth, ready-to-drink shake. So your afternoon reset actually sets you up for success. Vital Proteins. Stay vital. Visit VitalProtene.com and get started. These statements have not been evaluated by the Food and Drug Administration. These products are not intended to diagnose, treat, cure, or prevent any disease.
Starting point is 00:25:05 Success starts with your drive. American Public University is here to fuel it. With affordable tuition and over 200 flexible online programs, APU helps you gain the skills and confidence to move forward. Whether you're changing careers, starting fresh, or pursuing a lifelong passion, our programs are designed for people who never stop. You bring the fire, APU will fuel the journey. Learn more at APU.apus.edu.edu.
Starting point is 00:25:43 Edge. He's got to be pleased with that. 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. So, uh, there were a lot of movies I still haven't watched. You know, I've never watched The Matrix. I never watched John Wick. But I was on an airplane last week, and I watched the first John Wick. I loved it. A lot of gore and blood. Keanu Ribs, he's a he's the, he's the goods. I started watching number two last night. I guess the number four just came out. Just love the whole idea. Yeah, I know it's gory and it's blood and it's hit men and all that stuff. Hey, you know, this weekend's, uh, WrestleMania, looking forward to it. I've been to, I think
Starting point is 00:26:58 six or seven WrestleMania's. We'll do a report on that too. You know. We're wrestling fans. Back on the markets. We're very careful what we say here for our radio audience. We guide you very, very well. If in the next days, price does move above range in the NASDAQ, NASDAQ 100 and semis, we're going to tell you. We're not going to tell you what to do.
Starting point is 00:27:47 We're going to let you decide. we're just going to define for you when something hits a level and for weeks can't get back above that level and then breaks above that level, it usually works for a while. That's my definition of it. Your job, go look at the screen, go look at the charts, NASDAQ, NASDAQ 100, semiconductors, and the stocks that make them up, and the leadership names that we talk about. out and as always you decide it's your money we're not telling you to buy sell short or cover you're big boys and girls we're just letting you know we read the tape pretty well we're focused it's about freaking time just so you know throughout this bare market we've had counter trend rallies and we bought a few of them I can tell you we lost a little made a little but we haven't had anything that really sustained
Starting point is 00:28:57 The only way to sustain is the stair steps. Move above a level, and when you pull back, hold it. And they move above that level that you just went to, and you pull back and hold that level. Stair steps up. We can tell you that maybe just maybe, we've got some stair steps going on. Not sure.
Starting point is 00:29:27 And we say that because what do we say earlier? and we're not making this up we think the market's out to piss off everybody leave no doubt you know last night on our webcast and we really can't show you we showed our peeps a bunch of spacks that were down 99% and we just never want you to forget that we never want you to forget how much money you can lose in the markets we never want you to forget the market we never want you to forget the NFTs, the 23,000 coins. Oh, the list goes on and on, kids. We never want you to forget this.
Starting point is 00:30:17 We speak to people all the time. You know, we get calls left and right. And by the way, we take every call. I'm always amazed when somebody says to me, you take your own calls. You know my answer is, what the hell is the telephone for? To take calls. Anyway, never forget.
Starting point is 00:30:38 It will happen again. There's one fail safe you will always have in markets. Sell my scans tonight will get a lot more focused. My activity will more than likely get more active. If wrong, we'll be wrong fast and be wrong small. By the way, during this bare market, there were things I bought on Monday and sold it Tuesday with a 10 cent gain or 10 cent loss. That's how tippy toes we are.
Starting point is 00:31:26 Why? Because if the market turns down, it is, look what they just did to the banks. Punishing. It ain't going to happen to us. But if we get into a new bull market, man, oh man, are we going to be focused? Focus as can be.
Starting point is 00:31:46 And what we try to do is constantly upgrade. Own 10 stocks. And if another stock out of the, an 11 stock shows that much, better than the 10 move one out put one in and keep moving and moving and moving and moving until you got the big leaders in the market and then close your eyes hold your nose and pray of course we've tried that it doesn't work hard work works and as we said if wrong be wrong fast be wrong small
Starting point is 00:32:33 Always be around for another day. As I said, you wouldn't believe some of the calls I get from people and how much money they've lost. And I don't even want to talk about the mismanagement that is out there. I get cold called all the time. I take the calls. I want to hear what they have to say. It's amazing.
Starting point is 00:32:59 Nothing has changed. Brokers will call you up with hunks of junk. And then I'll ask them about the company, and they won't even know about the company. So arm yourself, especially for the next bull. And who knows, maybe we've started one. Do you know why? I promise you in the next 10 years,
Starting point is 00:33:27 there's got to be a bunch of stocks that go up 10-20-fold. Catch one? Life-changing. Catch two? See you on the Amalfi Coast. Not so sure we're there yet. Hopefully we are. What I tell you on the news front, I write myself all these articles that I like talking about.
Starting point is 00:33:59 Let's start with the first one. Just lucid. Simple LCID. I was down, they're cutting 18% of the workforce. We warned you about all these electric vehicle companies and nothing against them, but we told you they're all going to get killed. It's gone from 60 down to 7. That's all. Very tough to grow auto.
Starting point is 00:34:21 businesses. The Metaverse. We kind of warn you about this too, didn't we? They're called it now the M-E-H-Tiverse. Looks like Disney and Microsoft the closing projects tied to the digital realm. Maybe they'll partner up with somebody else. Remember what we've told you about the self-driving cars, the air taxis. You ever getting in a self-driving car with no, no,
Starting point is 00:34:53 No driver? I'm not. The FDX found a charge with bribing a Chinese official. Did this guy just do everything crooked? Remember he did the interviews? What an ass clown. What a lying sack of monkey crap. And I remember the CNBC guy,
Starting point is 00:35:18 God bless him, because I think he's a good guy. Good reporter. It was just too nice. Treated them like a guest. Not a crook. Oh, innocent before guilty. Yeah, while there's billions missing. Sure, right.
Starting point is 00:35:34 What else? Climate funding squeezed by volatile markets. Oh, good. The interest rate increases in market volatility that hit risky investments last year. I finally caught up with the green startups. Yay! Member, ladies and gentlemen, you're going to see a crap load of green startups because Joe Biden handed John Podesta
Starting point is 00:35:56 $380 billion of our tax dollars and that BS of a deal, spending bill. Wait to you see how many there are. Up next, we'll continue. This is the one only investor's edge. Hi, I'm Dr. Jake Goodman, host of Beyond the Script,
Starting point is 00:36:45 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 00:37:02 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,
Starting point is 00:37:23 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. 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. When energy dips, your reviving routine deserves more than a quick fix.
Starting point is 00:37:54 Reach for vital proteins, collagen, and protein shaking chocolate With 30 grams of protein and 10 grams of collagen peptides It helps support healthy hair, skin, nails, and joints And a smooth, ready-to-drink shake So your afternoon reset actually sets you up for success. Vital Proteins, stay vital. Visit VitalProtene's.com and get started. These statements have not been evaluated by the Food and Drug Administration.
Starting point is 00:38:14 These products are not intended to diagnose, treat, cure, or prevent any disease. Success starts with your drive, and American Public University is here to fuel it. With affordable tuition and over 200 flexible online programs, APU helps you gain the skills and confidence to move forward. Whether you're changing careers, starting fresh, or pursuing a lifelong passion, our programs are designed for people who never stop. You bring the fire, APU will fuel the journey. Learn more at APU.APUS.edu. You're listening to.
Starting point is 00:38:55 What are we waiting for? Well, what are you waiting for? One, two, ready, go. Action In The Hester's Edge With Gary Kaltbach What else? Shell's dilemma
Starting point is 00:39:20 You know what Shell is, right? Oil Company Should it pump more oil? What? You're an oil company and you're wondering about pumping more oil politics. Environmentalists.
Starting point is 00:39:33 If the CEO of Shell called me up, you know what I'd say to him? Dude. Go pump more oil. They don't care about you. Tell them all to take a fly. All the whiners and complainers are in private jets. Distress in office market spreads to high-end buildings.
Starting point is 00:39:55 We told you this. A lot of defaults and vacancies. I'm in New York City every month for about a week. My son's work in New York City. They go to work. They go to the offices. But they're in these buildings, nice buildings. And they can tell both guests, both guests that their buildings are 30 to 50% filled.
Starting point is 00:40:29 Fridays, there's nobody there. It's like the three-day thing. And you can tell because you got all these salad places in New York City during the week. They're packed at noon. Friday, empty. This is going to be a problem going forward. the realization. A lot of companies that demanding people come back.
Starting point is 00:40:55 A lot are not. Brookfield Asset Management recently defaulted on more than $750 million in debt backing the building and another Los Angeles Tower. South Figueroa Street. In New York, new developments like one Vanderbilt and Hudson Yards of Lord tenants from Park Avenue Towers while pushing up Manhattan's overall vacancy by adding new supply. close to 19% of all high-end office space in Manhattan was available for lease. That's a lot, let alone how many people are going back in. What else?
Starting point is 00:41:42 That is of note. IRS. I mentioned this yesterday. I got to mention it again. I don't blame the IRS. Somebody's just taking orders from the administration. They did it with Lois Lerner under Obama, and he got a pass, and so did see by taking the fifth. Go read up about what happened with a Matt Taibi, T-A-I-B-B-I, and what happened.
Starting point is 00:42:15 And remember what I've told you about the IRS. These aren't bad people. I've got a bad name. IRS, no, they're not. They're just doing their jobs. But when something higher up happens, that's troublesome. That's troublesome. That's trouble. them. Should read about it. I did a whole thing on gun control here. Interesting. After I did that dissertation on the Dems and their BS on gun control, how they've had ample time and ample power to do whatever they want and they never did because it's all about the votes. Article came out from Politico. The real reason Obama didn't pass gun control. Remember what we told you? He had a super majority. He could have done whatever the hell he wanted. They flap their gums. Just remember that.
Starting point is 00:43:20 Without taking the side of, we're sick and tired of the bull crap that comes out of people's mouths in D.C. Investors wagering on banking sector rebound. I haven't. Haven't yet. Not going to just yet. we'd love to normalization would be good but you know i remembered being told i had to buy carnival cruise lines because eventually well we're already in 23 carnival cruise lines closed at nine dollars and 89 cents today the high before covid was 72 so as always we're going to let the market decide on these banks. I have a sneaking guess. Probably got some more to go.
Starting point is 00:44:22 As I stated from the get-go, do I think it's going to be massive? I'm not there. I just don't think this is going to be one week and we're out of trouble. I hope I'm wrong. I hope my guess is wrong. You know how many calls and emails
Starting point is 00:44:44 I've received from people I don't know? worried about where their money are is, are, is in R? And I don't blame them. Back in 08, I took 25 grand out of my bound cash. That's how worried I was. I'm not that worried now. Not even close. But as I stated to you, bigger is better than smaller.
Starting point is 00:45:13 Do I think any small is going out? Maybe. But depositors will be covered. I told you the Silicon Valley Bank depositors would be covered, right? For anybody else did. Nobody lost the dime. So fingers crossed on that one, kids. But the big story of the day, tech, semis, more tech.
Starting point is 00:45:48 Just get it topside now. Go look at the charts. Get it topside. break above range stick guess what that does it invites institutions to do more
Starting point is 00:46:04 but it needs to go topside and needs to stick just because your breakout doesn't mean you fail it's part of the game but really good day today shrugged off some real weakness of the last three tomorrow's another day
Starting point is 00:46:24 I'll be on with Stuart Varney tomorrow 10 a.m. hour. Check it out. And of course the radio show. We'll be back same time. You have a great evening drive carefully. Notice I didn't cough. And when you get home, do like I 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. Don't drink. It's overrated. Marijuana sucks. Doubly overrated. Straight and narrow. It's a good thing. Have a great one, everybody. Stay well, be well. Bye-bye. This has been Investors' Edge with Gary Cult Bomb on Biz Talk.
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