Investor's Edge with Gary Kaltbaum - Crashes And Whipsaws

Episode Date: March 15, 2023

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

Ever feel like your bedroom's shrinking? Don't worry. You don't have to sell your favorite things to make space. With IKEA bedroom storage solutions, think dressers, wardrobes, full closet systems, even storage boxes. You can keep it all. Your vintage banties, safe. Those limited edition sneakers? 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. Now from the BizTalk Studios, here is Gary Cultbaum.

And welcome once again to Investors Edge. I'm Gary Colbom, your host. A thanks of being with us today. Glad you here, ladies and gentlemen, happy that you are listening. It is the 15th of March, 2023, and we do have lots to cover. I have been thinking about what questions would you have had, what you have of me, about not only where the market's going, but where is your money safe? Are you safe? What is happening here? And I have to tell you, well, first, let me get

all the niceties and essentials out of the way. This is Investor's Edge, serious talk on you and your money and everything that affects. And of course, we're a lot serious right now. We try to put some comedy injected into it, but we can leave that alone right now because it's real serious right now. If you don't get this radio show in your city, we'll post it at garyk.com.

We'll also post it on our Twitter feed. If you should be following us on Twitter, no, really, you should, big time. We're quite charming and sarcastic at the same time. Two very interesting qualities. Okay, here's what we're going to do today. Well, first off, as soon as this radio show, show is done. I am going to do a deep dive webcast today, going sector by sector by sector by sector

for our peeps. You can access that by GaryK.com, convictionleaders.com, press the button, one month free, no obligation. We hardly, we don't market ourselves. We never talk about anything we do and whatever. We just do a radio show. We want to do the opposite of what we hear others do where they give out the number 42 times. But every now and then, we will. mention we have this convictionleaders.com. We do webcasts every night. We show you what we're thinking and how we were able to keep you out of all this morass, M-O-R-A-S-S, by the way. So, number one, how did we get here? Well, to be about as repetitive as repetitive can be. One clown named Jay Powell, we've been warning forever. We get no credit phrase. We get no credit

Fritt. You know who they're interviewing now? That Nuryo Rubini, Dr. Doom, he's all over the news now, predicting Doom. You think the media's calling me? I'm like a nobody. You know what? Fine. Notice we don't mind. We're on Fox most of the week. We're just in the middle of the pack, even though we have separated. We'll just keep moving forward the best we can. We got here because of one man. We told you up front. We're not reporting the news to you now, like Most are. Very easy for people to come out now tell you what's wrong and what's going on. And of course, the same people are telling you, oh, we're buyers. They don't tell you they were buyers last week. They don't tell you they were buyers last month. They didn't tell you they were buyers six months ago. They don't tell you they're fully invested all the time. And we need you to be careful about that. You got that? Wall Street is a fully invested vehicle. We told you one man took over the bond market. How is that possible? He printed

$9 trillion, up to $9 trillion. He wasn't the whole $9 trillion, but he printed up to $9 trillion, got his buddy Christine Lagarde in Europe to do the same thing. Ridiculous amounts of money. What did we warn you about? We warned you it would cause bubbles. We even named the bubbles as they were happening and we called the bubbles top. And you know what they are. And remember, what was the last bubble that we yelled and screamed at to you on this show on top of the crypto, the NFTs, the Coinbase, the riot blockchain, the marijuana stocks, the SPACs, everything electric vehicle. What was the last thing we warned you about? Rivian. That was the real last bubble we warned you about. And that was around November of 21. The Clowns on Wall Street. brought it out at $78.

I.P.O. Which, by the way, it's $78 IPO, had about a $78 times a billion. They had no sales but a $75 billion market cap for an electric vehicle

company, and just so you know, it's not easy to do auto companies. But amazingly, in the midst of the crazy, what did they do? they opened it up hot, not because of them, but because of you. But because of you. And that within the day, we're not making this up.

Make it three days. The stock had a market cap of almost GM and Ford. GM and Ford had $260 billion in revenues. Rivian had none. They had delivered 42 cars to employees. Now, we did know they had a deal with Amazon to buy a bunch of cars, but we told you the stock's worth 20. It's 13 today, and by the way, their exclusive agreement that Amazon has now been cut up. But how did we get here?

Well, Jay Powell caused the bubbles. We told you to read the book, Extraordinary Popular Delusions in the Manless of Crowds. Explains it all. So he created the bubbles. We warned you about them. They popped. But we also told you economics 101. and nobody wanted to listen to us on that.

We get no credit on it either. We warned about the inflation before anybody else. And we didn't predict inflation. We just stated economics 101. Economics 101 is too much money chasing too few goods or chasing nothing. So we expected inflation to get out of hand. And it did. And then how bad this guy is and the rest are,

how bad they are, they never saw it coming. Yes, people that have what, 100, 200, 300 people working for them, getting all types of statistics, couldn't tell you inflation was coming and inflation was here and we did. How to hell would we know that? Well, we don't have a butler getting our food and we don't have a driver driving us in a Bentley. These people don't live in the real world. So they never saw the inflation come up, but then it hits. and what happened at that point? Well, we warned you about what happens if the market ever gives them the middle finger? What?

What does that mean? Well, they took over the market, the free market, the gargantuan free market. And we even use the words, eventually there's going to be an ultimate outcome. There has to be. There's no way rates can stay at zero forever. Impossible. Because when you create all kinds of distortions, you're going to be. going to create all kinds of distortions that you don't know about. And guess what happened?

Austria floated a 100-year bond at 8 tenths of 1%. It's down I heard 60 or 70% the bond. Of course, the longer you go out, the more risk you have. What happened? What else happened that we didn't even really know about? We knew that there was money being lost because if you buy a 10-year bond paying a half percent and then it goes to four percent those bonds are going to come down in price little did we know that by no fault of theirs these banks had to put their money to work they were forced into whatever the market was at the time that was rigged and manipulated with conjured just remember this this was not money this was conjured up money out of thin air and he was allowed to do it with no accountability or oversight.

So all these banks bought up longer term treasuries because a five-year treasury paid nothing. A 10-year was 610 to 1%. And I heard people on TV blaming the banks. They're not to blame. They didn't rig the market. They didn't screw the savers. One man did. We warned you about this forever.

So one bank buckled, the second bank buckled, and they can do a... I heard somebody today, they're going to do a deep dive investigation on these banks. Who the hell is going to do a deep dive investigation on Jay Powell and the central bank? Who's going to do an investigation on our government that's $32 trillion in debt? Who's going to do an investigation on the central bank? By the way, you know what one of their jobs is? oversight of the banks. Why aren't these people being fired? Up next, we'll answer the questions. This is the one only Investors Edd. Hi, I'm Gary Kalbaum, hosted a nationally syndicated radio show Investors Edge.

We're not just handsome radio people. We manage investors money for a living, specializing in fee-based discretionary money management. No big commissions, just a fee on the assets that's managed. We also provide a full range of personalized services, including retirement, planning, fixed income, and educational needs, all to assist you in achieving your financial goals. Understanding not all individuals have the same needs, we'll carefully evaluate your personal goals to determine a proper investment strategy. If your current approach to investing is not getting you to where you would like to be, call us to make an appointment for a complimentary portfolio review. The number to call is 888-4-22-5-5-9. That's 888-4-2-5-9. That's 8-8-5-9. Investment Advisory Services offered

through call-bomb capital management. 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, 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. 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. 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.edu. 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. Let's investigate the banks. What? What? How is Powell not getting a once and twice and a three times over? Let's say he had nothing to do with this. He oversaw it, though.

And it happened. Isn't that enough to get rid of these people? I digress. So what ended up happening was Silicon Valley Bank lost $2.1 billion on their securities. Do you know our central bank is down a trillion dollars on their securities? I digress. A bank is only as good as the depositors. the dirty little secret that most people forget about.

One could suggest that the messaging from Silicon Valley Bank sucked. But what happened was they announced this secondary to raise money when the stock was 200 and change. Within two days it was 30, they can no longer raise money and during that time panic ensued. $40 billion was taken out. I'm not going to blame him, I'm just going to state the fact. feel a major influence in the technology industry with a bank that housed a lot of technology companies and their officers said take your money out. The party was over. Another one symbol SBNY. Crypto. They took that over also. What's our central bank and government to do?

Holy crap. Small bank stocks were getting crushed. what do we do? Two days ago, in the morning, they said, we're not going to bail out anybody. Tough crap. Three hours later, they made an announcement that they are bailing out every depositor at every institution.

Every depositor, every institution, every dime. Now, we're told, depending on which abacus you use, rusty or not. I read somewhere there's $9 trillion of uninsured deposit. Some where I read there was 12 trillion. How did they back up all that? They don't have any money. Our government's broke, running deficits this year of $1.6 trillion.

Central Bank doesn't have any capital. They're in prayer mode. That's all. My stance is one fold. Nothing personal. I have nothing against small banks. but my money would rather be in the bigger ones now. And again, I feel terrible for the small banks.

Jay Powell put them in this position. This is all the outcome of one man. Nothing personal. That gets no blame. It's amazing. I don't see anybody pissed off at him. There's finally a few people agreeing with us. I saw a few people on TV saying, yeah, this is an outcome of the ridiculous easy money,

but nobody seems pissed. Nobody seems worried that this guy is still running it. That's what happened, in a nutshell. Will there be contagion? I don't know. But don't get cute. I said that yesterday, didn't I? Market was trashed again today before they had a nice little rally,

especially the big cap tech and we'll explain that in a minute. Because when I give out the numbers today, I'm going to let you know certain sectors were crushed today. I mean crushed. Crushed. In spite of what happened with some big tech. Crushed. Huge losses. Technical breakdowns.

And a lot of them, not just short term, but pretty big breakdowns. My worry. same people who caused that are running the show. It's a nightmarish scenario. They don't know what they're doing. Their only answer was printing money, which caused distortions, which caused the inflation,

which caused the real market interest rates to spike, which caused people who went longer term on securities, government securities, which are supposed to be okay, they get crushed, bond market-wise, because they were forced into it because of somebody rigging and manipulating those markets, run on the banks, everybody worried, and who knows what's next? That's it. That's what happened. No crooks, just a dumbass,

with no accountability and no oversight. When do we get to the point where one person can print nine trillion? You know he's more important than the President of the United States. He had the ability to print a $9 trillion, and nobody said a word. We did. And as we've told you, the reason why, nobody says awards, because asset prices were bubbling up and people were making bazillions. But what was our line to you? There's going to be an ultimate outcome, and it's going to be bad.

We're seeing it in droves and so many things. Next up, I don't know. But what we're going to do up next is we'll do the whole market wrap. We're going to sector by sector. Tell you what's leading. We already told you there's a select narrow group of names. But there's a problem with that. Remember what we've told you.

Narrowness is bad in the market. Advanced declines that are terrible, while a few big names is bad for the market. What happens in the market tomorrow? I have no clue. I couldn't even tell you what would happen in the last four minutes today, and I'll explain that part in a second.

Just don't get cute. Notice, I haven't told you to buy, sell, hold, shorter cover. We'll let you decide. All we've been telling you on a daily basis, we'd avoid this. We would avoid that area. We would avoid this. We would avoid that area. Little did we know when early last week we said something was up with the financials, that they would crash them. And leave no doubt, there has been a crash in a lot of financial stocks. And not just the small names. Up next, we'll go through it.

Thanks for being here. 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 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 stomachache 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. 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. APU. APUS.edu. One sweet, melty bite of a Hershey's bar and suddenly I'm right back sitting on the front porch with my grandmother on a slow summer afternoon. She doesn't say much, just breaks the bar in half and hands me a piece. I open my mouth to say whatever a nine-year-old wants to say. And she replies with a low, listen. So we sat there. They're listening. That was the first time I learned that quiet can feel full.

Hershey's. It's your happy place. You're listening to. 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 Colbomb. It comes highly recommended. You're going to feel better if you talk to him. And welcome once again to Investors Edge. Thanks for being with us today. Hope you having a good day. All right. The market wrap is.

brought to you by Investment-Dashmodels.com. That's Jim Rohrabak, one of the great market timers. No gray areas with the man you're either in or out of the market. With this proprietary indicators, go check it out. Investment-mottles.com. So here's what we're going to do right now. And this is repetitive because we've been warning you about a lot of these areas already. They just got smoked even more today.

When I mean smoked, I mean smoked. We've alerted you about the whole energy complex except the pipelines. and some shippers. The oil services today, down 7.3%. In the last five days, one, two, three, six days. The OIH, the oil services, has gone from 329 to 262. You got that? 21%.

That's my little quick abacus. 21% in six days. We warned you. The big oil was down 5.4. 3% today. In the last six days, it's gone from 87 to 77. It's called about 12. And the big oil will always hold up better because they're big.

The weakest, the explorers, has gone from 140 to 116. 17% in the last six days. The best we can tell you on something like that, Oh, they're very stretched, extended, and oversold to the downside. It's the best we can tell you. Trend down. Commodity stocks. They mauled steel stocks today for 6.5%.

In the past seven days, the SLX has gone from 70 to 59. 14%. Steel was strong seven days ago. Not kidding it, yearly high. they've mauled it one of the stronger ones steel dynamics today down 12 and a half percent new core today down 7 percent economically sensitive names crushed today the strongest names has been united rentals since the high on Thursday it has gone from 440 to 390 to 399 that's the strongest name. And in case you don't know what they do, they rent equipment. And then I can go

through a litany of what I call economically sensitive, diversified. Carlisle, diversified, has gone from 268 to 222 in six days. For brevity, I'm not going to go through more names, except Parker Hanofin was down 6%. Today, it's gone from 365 to 313 since Thursday. Financials have been crushed. I'm going to do one that was strong. Ameriprise Financial. This is a brokerage financial planning. I think American Express used to own them.

I'm not sure if they still do. 345 to 283 in six days. That's a strong name. Even Warren Buffett, Berkshire Hathaway, has gone from 330 to 298. I don't even think you want me to go through the regional banks, especially some small ones, because

holy crap, and especially some of the ones that are real worrisome. I got to mention PAC West has gone from 28 down to 11 today. It was 5, 2 days ago. Pack West. Insiders bought a bunch

at 22 bucks a few days ago. They're down 50% on their money. They were down 70% two days ago. This is some real deal stuff. And amazingly, we just, last Monday and Tuesday were saying something's up with the financials. Little did we know. J.P. Morgan was down almost 5% today. That's gone from 143 to 128, which is like a tiptoe through the tulips compared to a bunch of these things.

For brevity, I'm not going to do any more, but you'll have to trust me when I say, Black Rock? Down 11%. Black Rock. Now I will mention Schwab was up almost three bucks today because not only did the CEO buy some, but the CEO came out and said, we're getting inflows, and a bunch of other

people bought stock. But technically, these stocks are busted. They're busted up. We'll see what comes of it from here. But these are busted patterns. But we're not done.

the airlines in five days have gone from let's say 15% 5 days down 15% there's a group the insurance stocks we mentioned to you

with the financials crushed absolutely crushed insurance why guess what they do with your money they invest it guess what they probably invested

in. Whoops. Commodities. Well, you know what happens when there's worry this flight to the dollar. You know what they did to the commodities today? They crushed them. Remember I said coal was starting to act better and we'll see if they break out? Alpha metallurgic was near the highs five days ago, 183. It's 147. Down 15 today. I don't need to go through the rest. I did a bunch of steel names already. China continues to just wane. The FXI is down about 36, about 18% in five weeks from the highs. And many individual stocks much worse.

These are all avoids. The rails, there are voids, downtrends. Truckers, there are voids, downtrends. The caterpillar deer and that By the way, Caterpillar in five days, 250 to 217. 14% in five days. Caterpillar in the Dow. Boeing today was down nine after signing some deal.

And it was down 14. The solar's except for first solar. There are voids. So look at all these areas I've mentioned so far. All the financials. And some came off the low's. today but some didn't and if you want to get cute first republic bank they gaped it open yesterday at 51 bucks it's 31 today 20 bucks on 51 my abacus rusty as

can be is about 38 39% in a day you would like to get cute with this stuff oh but shouldn't we short oh they gapped it up yesterday from 30 to 51 on the open you want to get cute that way also retail stocks, I got nothing good to report there. They've been tanked defense stocks. I got nothing good to report there. A lot of the travel related now, which Hyatt was at nearly high five days ago at 125. It's 105. 17% in five days.

The weaker one Marriott looks terrible. So they're coming after hotels now and other travel related. Today, at the close, 695 new lows. You want to know how many new highs? It says a few, and then I go on the screen and I look at the new yearly high list. I think I got five Hershey's is at the new high. Defensive. A name called Ariston Networks, A&E, T, it's my favorite growth name.

That's in a new yearly high. I don't think I have one more new yearly high. I'm looking at the new yearly high list. It's all a bunch of spacks at $10. Advanced declines today. Get this. At the close. 931 up on the New York, 3,99 down.

1262 up on the NASDAQ, 2968 down. What were the final numbers off of that advanced decline? That's up next. 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 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 just becomes like a lifestyle where, oh, yeah, you know, I just, I have a stomach kick 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. Here 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. 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. One sweet, melty bite of a Hershey's bar, and suddenly I'm right back sitting on the front porch with my grandmother on a slow summer afternoon. She doesn't say much, just breaks the bar in half and hands me a piece. I open my mouth to say whatever a nine-year-old wants to say. And she replies with a low... Shh. Listen.

So we sat there. listening. That was the first time I learned that quiet can feel full. Hershey's. It's your happy place. You're listening to. What are we waiting for? Well, what are you waiting for? One, two, ready, go. Action! In the Gester's Edge.

With Gary Culper. So, let me give you the good news. The Dow was down 280 points today. That's the good news. Why? The Dow at one time today was down 720. That's very good news. The S&P was down 27 today.

That's the good news. The S&P at one time today was down 80. The better news the NASDAQ was up 6. The NASDAQ at one time today was down almost 200. The good news today is the NASDAQ 100 was up 51. yeah but what's the issue you know what the issue is right

well first off the good news when you're down big and you finish like we did typically you get some upside testing from there it kind of has a little bit of a washing out feeling what is the bad news it is now a very narrow list

let me explain Apple today was up 40 cents Microsoft was up for in change Amazon was up a buck in change and video was up almost two bucks Google was up $2 and a half dollars

Tesla was only down $3 today Facebook was up almost $4 today what's the problem those 1, 2, 3, 4, 7 names are 50% of the NASDAQ 100 So 93 names are 50% of the NASDAQ 100.

Seven names are 50%. Hmm. What does, and why would that give me worry? Well, it's not 100%, but in very tough markets, in a derisking market, where the big money is de-risking. And we've done this with you before. We nailed some tops with just this. What do these big institutions do with their money?

We're talking to the mutual funds, hedge funds, and the like. What do they do when they're really worried? If it's a technology fund, especially in there's so much money, these technology funds, what do they do? They sit in their meetings with their portfolio managers. What is the most liquid names in the market? What are the biggest names? Because just in case, they're much easier to sell.

So what they do is they park the market. money into those names. And if the market's going to go lower, they park the money into those names, they get a bid till they can't anymore, and they finally get those the last vestiges. That's how parking money works. We're not saying that is. We're saying certainly other characteristics of today. That said, good comeback by the now.

But when I do my scans, most everything came off the low. today. I mean, when you're down 700, you've only finished down 280. The chart patterns for a lot of these areas just mentioned look like the south end of a northbound jackass. Now, I'm sure you can picture that, right? You get where we're coming from? So if you had to be fully invested, probably those mega cap, I can't believe I'm saying this, but that's where the money's flowing now. And because Facebook's firing another 10,000 people, That rally to a relative high today, not a yearly high, but a relative high. Off of their terrible numbers, definite institutions are in there with Facebook, and there's your story on the market. Horrible advance declines today, even with the good comeback. And by the way, at 356, four minutes to go in the day, not making this up. No, not making this up.

No, really. The Dow was down 480. It rallied 200 points in the last four minutes. The NASDAQ, which was up 60 with about a half hour to go, then sank with four minutes to go. The NASDAQ was down 67, finished up five. So four minute jacked to the upside. It all counts. Anything else green today?

Yeah. Some restaurants were green, but really no bull markets there. Some of the staples were green. Clorox's up two. Hershey's up to. Hershey, New Yearly High. Kimberly Clark, nice diapers. Pepsi was up three. Smuckers, good jelly up two.

Defensive. And a few things are green here and there. But it was the mega-cap tech today. Those, Tesla was down, but six of those seven. those six make up 47% of the NASDAQ 100. That did it. That's your story today. We have no clue what happens tomorrow.

Any other good news coming out today? Another $3.3 drop in oil. Yields on the 10-year, down another one and a half sticks. 3.492. Fundamentally, that's good. What is it saying we don't know? The economic numbers that came out today sucked, so stay tuned. Possibly we'll get some upside testing tomorrow.

I don't know. We don't pretend to know the next day. We didn't know we would walk into four or five hundred points down today, and that's what we did. One of the things they're worried about is Credit Suisse, a bank in Switzerland that got defended by their oversight thingabab, Still finish down 14% today at $2.16 but hit a $1.75, but that doesn't matter. In case you didn't know, credit Swiss stock topped out. April of 2007, it's $71. It's $2.

Something's obviously wrong. So we'll be on with Varnie and company tomorrow at 10 a.m. Fox Business Network, check us out. We'll be back the same time here tomorrow. Hope you are listening. I got news for you. ain't nobody else separating themselves on Wall Street like we do. No, not kidding.

Hopefully better days ahead. We have no hope for the people running the show. When you get home, kids, make sure you hug your children. Thanks for being with us. Really appreciate your time. Peace out all. Take care. Bye-bye.

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. With record U.S. debt, ongoing geopolitical tensions, and constant market swings, many people are rethinking how to protect their savings. Physical gold and silver have been used for generations during uncertain times to diversify, not replace traditional investments. Preserve gold helps Americans understand these options.

Text iHeart to 50505. To get your free wealth protection guide. and explore how precious metals may fit into your retirement planning. 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.edu.edu.