Investor's Edge with Gary Kaltbaum - D Day [06.06.2024]
Episode Date: June 6, 2024https://garykaltbaum.com/...
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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.
I'm Gary Coltbaum, your host day.
Thanks to being with us today.
Glad you here, ladies and gentlemen, happy that you are listening today, the 80th anniversary
of D-Day.
It's a Thursday here.
Hope you're having a good day.
Ladies and gentlemen, this is serious.
talk about everything that affects you, everything that matters.
Whether it's the economy, your job, your industry, the markets, the Morlocks in D.C., you name it,
we cover it, but I must start out today.
Oh, if you do not get this radio show in your city, we'll post it at garyk.com.
We'll also post it on our Twitter feed, which is now X.
And if you don't follow us on X, you should follow us on X.
And if you want to email, all you got to do is be nice.
That's all.
Tell me you disagree with me 1,000%.
Tell me Fauci is a scum, like a couple of people have.
Just do it respectfully.
It's okay.
But we start today with D-Day, and then we'll get into the market.
It's quiet day for the indices, but a few pieces of jello moving on the plate.
There have been pretty much, I think in all our lives we have,
moments in time, places we've been to, that really moves us, really sticks out like a big,
gigantic sore thumb. For me, Auschwitz. And I have to tell you, there was a moment at Auschwitz
where they guide you through and you have these rooms behind glass windows because you can't go in them.
And one of them had suitcases of the murdered.
Another one had eyeglasses.
Another one had hair.
And I pretty much fell to the ground.
It's how much impact it had on me.
My wife had to basically pick me up.
Also, in Israel, there is a Holocaust memorial called Yad Vashem.
But Auschwitz, really, another was, I don't know why, I don't know why I got the privilege and the honor.
But I was asked onto Neil Cavuto's Your World overlooking the 9-11 site and me knowing what was there beforehand.
because I had been in the World Trade Center quite the many times.
I don't know if people know, they were gargantuan.
The amount of space and building and surrounding is gargantuan.
And there was nothing there.
I was there overlooking.
We're in a building up high.
I remember Secretary of the Treasury,
John Snow was a guest. I went right after Al Sharpton and the mayor, Ed Koch, he wasn't the mayor at the time.
And I remember going up and being talking to Neil and I didn't hear a word he said.
Nothing was working. I winged it. I think it came out okay. But that hit me.
just because when you know what it looked like before and then after,
and then there's Normandy, number three for me.
You know, we watch Savings Private Ryan, there's other band of brothers, there's other things.
But until you're there, the enormity, you know, at the saving Private Ryan at the beginning,
It's minutes before, oh, they get up above the cliffs, take out, whatever needed to be taken out.
No, it took hours and hours and hours.
The conditions were ridiculously bad.
The conditions for the planes were ridiculously bad.
For the paratroopers were ridiculously bad.
And I've been there twice and I just happened to have two great guides that really explained a lot of things.
look up hedgerows and how important they were back then also.
And all I know is I'm sitting there watching today these 100-year-old men,
100-year-old that went into the belly of the beast on a suicide mission for the freedom of the world.
and I posted a video and pictures of the American cemetery
how many Americans died for our freedoms
and these 100-year-old, I'm not sure they got their due today
and while they're there, I don't think they get enough of their due
and it has me doing a lot of thinking recently because as you know
I've been blasting the hell out of these students at these colleges and their racism and their anti-Semitism and their anti-Americanism.
They're putting up things about F America.
They're taking down American flags and putting up Palestinian flags.
And I'm just thinking to myself, that age back then were being sent into the waters north of France.
into these boats, throwing their guts up,
and then ready to be sitting ducks.
Yet these whiners and complainers about,
how come we don't have food while we're sitting in our encampments?
So all these things get you doing some thinking about what's real,
what matters, what doesn't matter,
and how stupid these young men and women are.
But as I've stated to you, it's tick-tac-toe.
You can't even have a discussion with them.
You can't even talk to them.
It's just like tic-tac-toe.
You can never win the game so you don't even play it.
You'll show them video of Hamas murdering Jews,
and they'll say it's artificial intelligence and it never happened.
What are you supposed to do about that?
Again, tick-tac-toe.
So I'm just letting you know, backtracking a little bit,
if you haven't had the chance to go to Normandy
and the surrounding areas and the beaches there
and get a great guide in the museums, try.
It's a flight to Paris and a two-hour train ride north
through some magnificent small city.
he's Ruan, quarantine, and others.
I went to my wife one time.
I went in my son one time and my son still talks about it.
Just letting you know how much those things have affected me.
And I'm actually really pissed off at myself right now that I didn't go up to the 80th anniversary.
I could have.
as you know I'm dealing with a 90-year-old mom
92-year-old father I'm back and forth to New York every weekend
I've hadn't had a trip no vacations no nothing
so I'll give myself that excuse but man I should have just jumped up there for a few
days and be back by tomorrow oh well
anyway I just wanted to start the show with that
because then we have to get into nonsense as you know
Now we segue.
GameStop was up 15 bucks today to $46.55 at the close.
No, I'm not making this up.
And I have to tell you the reason why.
Because the roaring kitty guy said he was going to have a streaming video tomorrow.
I swear that's the reason.
So SEC investigation on them or him.
others investigating on him
and the stock was still up 15 bucks
because he announced he was going to have some sort of streaming show
tomorrow
I will repeat to you what I have said to you
whether it goes up or down
A I have no clue what happens in the short run
I think yesterday we said we don't know if it goes to 100 tomorrow or 15
well it went to 46 and change today
up 15
we don't know what happens tomorrow we don't know what this dude is
streaming tomorrow
when the music stops
just don't be the last one in
it will I don't care what this guy is getting away with
it will eventually I don't know when that is
and I don't know from what point
it will eventually go back to where it's supposed to go,
not knowing what tomorrow brings.
As always, we are not telling you to buy, sell, short, or cover.
It's your money you get to decide.
Three words, pick your poison.
And we wish you the best of luck.
Up next, the markets, news of the day, whatever else today.
Thanks for being here.
I'm Gary.
This is the one to only invest.
Investors Edge.
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Investors Edge.
The last bastion of quality programming.
With Gary Coltbaum.
It doesn't get better than this.
And welcome once again to Investors Edge.
If you don't mind, I have to give a shout out.
And I'm going to give a shout out to a woman that I think I've met twice.
over at Fox.
I know I met her once
at a
Fox News
Christmas party for the business
people.
I think I met her a second time.
I have never appeared on
air with her.
And I don't even know if she knows who I am.
If she saw me, even though
I'm enough on TV, she's probably seen me.
Martha McCallum
in the coverage
of Normandy
A
plus
plus
plus plus
I love
this woman's
journalism
whether it's
in Britain
with the queen
and what's going on there
she knows everything
and then in Normandy
I'm just
does her
homework and you know when
you know somebody's doing good journalism when they're asking questions that you really want
to be asked. Of course, you know when there's bad journalism like that CNN woman that had Biden
lying out his rear end for whatever time and she sat there and she knew he was lying.
Anyway, big shout out to Martha McCallum. This is just a plus, plus. She does the three o'clock show.
She also does a lot of the politics.
She's done presidential debates.
As far as I'm concerned, I can't even say enough.
And by the way, she doesn't even know I'm saying this.
She doesn't know me.
But just letting you know if you got a chance to watch her, dang.
She can write the book on good journalism.
Demeanor, tone, knowledge, the works I was.
just captured by watching her and listen to today
unbelievably great interviews
with a hundred-year-old men
that risked their lives
and just wow
and now we move on
where do I even want to start
okay so the Dow is up 78
not much
a couple of things of note
Amazon's in the Dow now
and that finally got back above
the 50-day moving average.
It's just range-bound.
But if it's going to get going, the first thing that has to happen is that.
Otherwise, in the Dow, Salesforce.com was up six.
A few things, one or two.
Not much going on.
The S&P was down one.
Whoopty-Doo.
The NASDAQ 14, NASDAQ 100, down 14.
Transport's down 42.
Advanced declines.
Flatish on the New York.
1624 on the NASDAQ.
and video opened up 30 then was down 40 and finished down 13
and video after the close tomorrow's got a 10 for one stock split in case you don't know
if you got 100 shares you're now going to have a thousand and if the stock closes tomorrow
with 1,200 it'll open up at 120 we hate stock splits like this but we have no control of them
you may say, hey, wait a minute, it doesn't change the dynamics.
It's the same market cap.
Yeah, but it changes the dynamics.
And you know what that is?
10 times the amount of shares outstanding, it will trade differently.
I used to be the one that loves splits.
I think nobody should split stocks anymore.
And if you've noticed, things like Chipotle, a 3200, booking holdings, 3,800.
Hey, NVIDIA got the $1,200 would have to worry about stock splits.
But that's their decision.
By the way, Chipotle is doing a $50 for one stock split.
It's going to go from $3,200 to what, $70, $60-some-odd bucks?
I hate that.
But the market don't care what I think.
Just letting you know, I told you weeks ago that I'm doing a big study on AI, and I must
tell you it's still very up in the air about outcomes. I don't think the CEO can tell you
outcomes. My main worry is people. The AI and just so you know, the word quadrillions comes to mind.
I was watching a video at BMW, how they were using AI robots to build the cars.
they're doing it as they're checking it out,
that will replace people.
And I'm just wondering how much of that is going to go on.
Now, the CEO of Nvidia says, well, wait a minute,
if the company's doing great, you're going to need people.
But I'm talking about in the manufacturing part of it,
the actual nuts and bolts of it.
So we'll see, I don't know, but I am studying it big time.
Doesn't mean I'm going to make money.
Doesn't mean I'm going to lose money on it.
I just want to have a very good understanding of it.
I am not a technology whiz by any stretch of the imagination.
I don't know potato chips from semiconductor chips.
Well, a little bit.
This AI thing is just...
Now, I will tell you, there are others that say, wait a minute.
This AI stuff, by the way, that's Winston in the background.
We keep them at our office.
this AI thing has been around for a long while.
Why all of a sudden?
You know what my answer is?
I don't have a clue.
But whatever it is, it's building up.
And whatever it is, as I have stated,
there's been a lot of movement and a lot of stocks
that don't have very good earnings and revenue growth.
In fact, have majored down earnings and revenue growth
that are going skyward
because of what they say about AI.
Eulet Packard yesterday, I was not making it up.
A total of 99 times they said AI in the conference call between the CEO and the CFO,
I think it was 60 times.
So leave no doubt the marketing is out there.
In time will know outcome.
I wish I knew.
I do know one thing.
the last four quarters of Nvidia
revenue 13, 18, 22, and 26 billion
By the way, before that 13, 4 quarters ago
I believe the quarter before that was 7.
So there's a rhyme and a reason to that company
and whether it goes to others
we'll see.
I have not seen it yet.
I've seen some betterment
in some companies
I have not seen gargantuan leap forwards, leaps forward, or leap forwards for other companies with gargantuan earnings and revenue growth.
I gather the market will flush it out in time if they show up.
Market is very good in knowing.
We've also seen some of these energy companies move up on.
crappy numbers. We'll see. Up next, more in these markets, news of the day, whatever else
today. I'm Gary. This is the one only investors' edge.
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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 Coltbaum.
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.
Again, on X, a bunch of pictures I put up.
One with me and my son, also, the handsome and powerful Eric.
And again, if you got a shot to go, Paris, two-hour train ride.
Boom.
North, up to the cliffs.
And I still want to know how they were able to get up those cliffs.
When you get to, you're like, how is that possible?
Anything else stick out for me?
A couple of things today.
Gold.
gold held right where it should hold.
We mentioned this yesterday.
We're saying it again because it went up another three quarters of percent.
Gold held right where it should hold if it's going to continue its uptrend.
But as of right now, it's in a one, two, three, four, five, six, seven, eight-week trading range after going up six weeks.
from 194 breakout to 225, then going down to 210, touching 225 again and fading that.
The gold miners did exactly the same thing yesterday, right off the 50-day,
and the miners were much stronger than the metal today.
And I got to tell you, the miners did something that I didn't expect.
We look at short-term and long-term resistance.
the miners blasted through short-term support big time on Tuesday.
I'm thinking they're done.
They're back right above it on Thursday.
The big gigantic middle finger to anybody think it was over and done.
So they remain in good stead, though, range-bound.
Think of it as a sharp move up and then a right turn for,
six, seven, eight weeks. Then we'll see if it decides to make another sharp move up out of this range.
We think it may take more time, but for you gold bugs out there, still okay, and I'll have to say the
same thing about silver. If you want to know what we're talking about, go look at the SLV.
That represents the price of silver in the market. Crypto, right at resistance.
For the past two or three days have not been able to get through.
If it can get through, can have another leg up for the Bitcoin.
Just letting you know.
And again, I still don't understand it, but boy, oh boy, they are touting it and they're jumping all over it.
A bunch of investment banks and banks and brokerages that said a year ago that it was BS, scum, scam, stay away.
All of a sudden are coming out with ETFs left and right, how great it is.
why is that? Oh, it's called greed. They still think and they what the hells is going up for? What's behind it? Well, there's nothing there. There's no earnings of sales, but they've been going up in price and others are making money because of it. So let me get it also. Which reminds me a little bit not equating, but kind of sort of back in 2008 when you had certain investment banks and brokerages come up with trunches of mortgage-backed security.
that they got rated AAA because they were colluding with the rating services
and on email and text telling each other, boy, this is a bunch of,
and they used the other word for crap,
and then they would sell it into the open market,
and then immediately short it,
which probably should have somebody arrested.
Nobody even got a slap on the hand.
I'd be out of the business.
So just letting you know Wall Street's doing the usual.
You remember the old example?
I gave you. You remember? Do I have to do the nauseating example again? Okay. If you were walking your dog
and your dog did what he has to do and somebody walked up and said, I'll pay you 10 bucks for it,
sure, I'll take it, takes out a bag, walks away with it, somebody walks up to him and says,
I'll give you $20 for it, gives them 20, walks away with it, somebody walks away with it, somebody
walks up, I'll give you $50 for it. Sure, make $30 quick, boom, walks away, the next guy gives
$100. And then so on and so forth, and all of a sudden, I'll give you $1,000. And the person that
wants to give $1,000 is the head of investment bank that brings company public, or does SPACs,
pays $1,000, gives it a market cap of $1,000, and then does a SPAC with a lot of $1,000, and then does a SPAC with
market cap of a hundred million bucks and puts it onto the market and says yeah we know it's
just dog crap but we are going to create an electric vehicle company out of it and we're
going to do a spack a little bit of sarcasm a little bit of joking right well that's what
wall street did they just didn't do it with the dog crap and all of those spacks are either at
zero or not trading anymore.
There's your underside of Wall Street, unfortunately.
Because there's such a good sides of Wall Street.
Unfortunately, a select few through the years, what do they call them?
Shortcuts?
Anyway, that little example I don't think was too far-fetched, unfortunately.
I got 100 questions on.
on NVIDIA. All we can tell you is, as we have stated to you, we bought it 505, sold it the day after the big reversal on March 8th, made about 70 some odd percent, got out, bought it like seven, eight days before earnings, got out before earnings, we were too scared. I think we made $2.
bought it right after earnings on the gap.
Watch it go up $200 to the open this morning.
Instead of being up 30 on the open, finish down 13.
Still up about 170 points, 16170.
I don't know from here.
If it's to go higher, the hope is right now, let it settle down.
Let it quiet down.
I don't want to hear people talking about it left and right.
It's got a little bit too noisy, which is okay, but we'll watch to see if it starts trading crazy.
We'll watch to see what the split does because we really don't know yet.
But in case you don't know, with the split, it will be 25 billion shares outstanding.
25 billion shares outstanding.
I wonder how that's going to trade.
I got to make sure that's right.
25 billion times 10 is 250 billion times 100 is...
Yeah, 25 billion shares outstanding.
Holy crap.
I'm actually a little bit speechless about how big some of these things have got.
God bless.
Quite the wealth.
builder, 25 billion. How many is out there on Apple right now? 15 billion shares outstanding.
Okay dokey. We're on it. We'll let you know. Our simple goal will be continue to go forward,
what you should avoid and what's leading. And as always, you get to decide. Indices are fine.
Small caps continue to woefully underperform, and plenty of areas still stink.
The transports we have discussed with you, a lot of the retail still stinks.
And recently, and not a good day again today, for a lot of economically sensitive stuff like building, housing, construction, and materials, and machinery, and all that crap, which has us what's going on with the economy.
The good news is no chance a recession yet.
No chance of a deep recession yet.
How do I know?
Because I would suspect the Dow would be at 35,000 right now
as the market is always flushed out a recession in advance.
Right now, it's just some areas.
If it worsens, we'll let you know.
You can't hide it.
Up next, news of the day.
whatever else today
this is the one only
investors edge
guys it's no use putting it off
the best time for an underwear refresh is now
Tommy John underwear is designed
for a perfect fit that stays put all day
their zero chaf thanks to four times
more stretch than competing brands
and their innovative horizontal quick draw fly
is a game changer
with over 30 million pairs sold
there are thousands of men out there more comfortable than you
don't settle for less
go to Tommyjohn.com today for 25%
your first order with code comfort. That's Tommyjohn.com code comfort. Tommy John,
comfort perfected. This message is brought to you by the Capital One Venture X card. VentureX
offers the premium benefits you expect, like a $300 annual Capital One travel credit for less
than you expect. Elevate your earn with unlimited double miles on every purchase, bringing you
one step closer to your next dream destination. Plus, enjoy access to over 1,000 airport lounges
worldwide. The Capital One Venture X card. What's in your wallet? Terms apply. Lounge access is subject
to change. See Capital1.com for details. This episode is brought to you by Spreaker. The platform
responsible for a rapidly spreading condition known as podcast brain. Symptoms include buying microphones
you don't need, explaining RSS feeds to confused relatives, and saying things like,
sorry, I can't talk right now. I'm editing audio. If this sounds familiar, you're probably already a
podcaster. The good news is Spreaker makes the whole process simple. You record your show,
upload it once, and Spreaker distributes it everywhere people listen. Apple Podcasts, Spotify,
and about a dozen apps your cousin swears are the next big thing. Even better, Spreaker helps
you monetize your show with ads, meaning your podcast might someday pay for, well, more microphones.
Start your show today at spreeker.com. Spreaker, because if you're going to talk to yourself for an hour,
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You're listening to.
What are we waiting for?
Well, what are you waiting for?
One, two, ready, go.
Inverster's Edge.
With Gary Culper.
And welcome once again to Investor's Edge.
Cause and effect.
For every action, there's an equal and opposite reaction.
We told you, under no uncertain terms, these idiot Marxist
socialist control freaks that run California who abuse the taxpayer and the only reason they
even look like they know what they're doing is because of the people that work their asses off
there we said to you they are tempting faith if they raise the minimum wage up to 20 for fast food
well in case you don't know there's a place called Rubio's coastal grill and I know it well
because I've been there plenty of times.
It's San Diego-based.
I used to live in San Diego for a little bit.
And they have the greatest fish tacos of all time.
Oh, they're shutting down 48 California locations, citing the rising cost of doing business.
What did we tell you?
if you raise the cost of doing business for companies without any productivity gains,
there is going to be repercussions in the form of fewer hours, fewer people, or we're getting the hell out of here.
Rubio's is shutting 48 of them.
They were very diplomatic on just saying rising cost of them.
doing business but everybody knows it is a combination of inflation as well as that stupidity
there's also now on the $20 per hour fast food minimum wage took effect on April 1st
is being blamed for 9,500 lost jobs and that's just through the end of April
Duh.
And you know what else it's done?
It's forced others to raise the 20 bucks.
It continues to be amazing that people who've never run a business are dictating to business
and just screwing things up when all you got to do is stay the hell out of the way.
But no.
Marxist, socialist, control freaks.
in the news the united airline CEO says spirit air and frontier will eventually go out of business
because they are terrible poor customer service in case you don't know spirit was going to do a merger
with jet blue and our wonderful government said up yours so spirit stock went from 17 down to
360 where it is. They're losing a ton of money. Sales are down. And let me state for the record,
I flew them once a few years ago and I promised I would never fly them again. Frontier, I just flew.
And my biggest problem with Frontier is very simple. What the hell is this paying 40 bucks for a
ticket? And by the time I have to add the things that everybody needs anyhow, I'm 180. So what?
Why don't you just do the price at 180?
It's just stupid business.
I'm serious.
They were, where was I going to?
Was it Raleigh to visit my goddughters?
$49.
I'm like, yeah.
And then I go on there and I look that.
Oh, I got to pay to have my bag on the plane.
And my laptop bag also.
Oh, if I want that better seat.
I got to pay for that
and it went from
49 to 180 before
you can say boo
and they
then email me with a survey
you think they even read the survey
when I set the frontier
yo
why don't you just make it 180
what is this advertisement
of 49
by the way both airlines got me there safe
so
I got that going for me
I don't know if the United Airlines guy was full of crap,
but who knows, maybe he's on to something.
We'll see.
In the news, do you know 98% of Warren Buffett's current net worth
came after he turned 65?
You know, I'm not there yet, but that has me having a lot of hope.
I think I'm a smart guy.
98% of his wealth after
65.
I just saw that and I figured that's a good thing to say in the news to you guys.
In the news.
Have you watched this Federman guy?
You know, the right was making fun of him big time when he got elected because he's got some issues.
I got to tell you, he pretty much sounds like Reagan on all his policy thoughts.
seriously
I mean he dresses with the hoodies
I couldn't care less
he sounds like Reagan
he sounds like a non-intrusive
person in government
that believes in the people
not the government
I got to give him a big shout out
man we need more people like that
I gotta tell you I don't think there's any
Republicans like that at this juncture
they talk a big game
and then they run trillions of dollars of deficits.
We here are still waiting for a hero in either party
that doesn't know how to balance a checkbook,
but wants to balance a checkbook.
So shout out to Federman.
And that's a little bit of my news today,
but the big story again is D-Day.
and wow
just watching
by the way
they were talking about
a lot of them won't be there when
on the 90th anniversary obviously as they get older
a bunch of them were in wheelchairs
and have not been out of the wheelchairs forever
and they all stood up and saluted today
a big wow
tomorrow
I should be on
with the great Neil Cavuto in the noon hour Fox Business Network. Check that out. Same time tomorrow
for the show. You have a great evening drive carefully. When you get home, do like we do. Quite
simple. Make sure you hug your family. Make sure you hug your children. They will feel better.
You will feel better. And if you find a veteran or see a veteran, uh, salute them or her.
Peace out, everybody. Stay well. Be well. Serenity now.
This has been Investors' Edge with Gary Cult Bomb on BizTalk.
To listen to past episodes or to get in contact with Gary, go to GaryKK.com.
That's GaryKK.com.
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