Investor's Edge with Gary Kaltbaum - Economic stocks...not happy [06.03.2024]
Episode Date: June 3, 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, your host.
A thanks of being with us today.
Glad you're here, ladies and gentlemen.
Happy that you are listening.
It's June 3rd, 2004.
And in case you don't know, we're basically in summer right now.
Just letting you know.
in case they're trying to tell you all kinds of things.
Climate change, global warming.
You know, I heard somebody, they, you know, it's hot in Florida.
Hey, thanks.
I had no idea.
Anyway, this is serious talk about everything that affects you.
Dead serious.
With no agenda, no bias, no ulterior motive.
And, you know, we know we're doing a good job because nobody likes what we have to say.
Because 35 trillion of debt and everything else under the sun that they have brought to us.
trust them as far as we can throw them we'll get into that in a little bit but first if you do not
get this radio show in your city we'll post it at gary k.com we'll also post it on our twitter feed which
is now x and if you don't follow us you should and email me yes please do but just be nice
where do i want to start today well what do we tell you the most important thing we do here protect your
Capitol. And I must tell you, Winston woke me up in the middle of the night and I go on my phone
for five minutes and I see that GameStop is flying because that Jackass, who's on the web, who put on a
video and had GameStop go to 65 bucks before you can say boo. And then, of course, it went down to 17,
comes out and I guess he owns a bunch of the stock.
And I'm thinking to myself,
why would it make GameStop stock go up?
Because some guy on the web,
whatever his name is, doesn't matter, he owns it.
And I'm thinking to myself, wait a minute,
the stock from the highs of the first move to the upside
went down 90%.
Recently, it just went from $64.
and 83 cents down to $17.8. And I'm thinking to myself, how much pain do people want?
And how can they possibly not learn any lessons from pain? What is the line about fool me once?
Shame on you. Fool me twice. Shame on me. And as we always tell you, we have no idea in the short run.
about outcome with these crazy stocks.
We have no clue about the outcome in the short run.
And when it was up to 65 bucks, it closed that day at 48,
we said to you, we don't know if it's going to go to 100 tomorrow.
Just don't be the last one in.
Because they all ultimately go back to where they came from.
Now, amazingly, people are jumping into this.
this overnight, even though recently GameStop did a secondary offering which puts more shares,
which is dilution, go look up at the word, what it means and why it's a negative, and they lowered
their numbers.
But this guy, what's his moniker, roaring kitty, he puts out that he owns a bunch of stock,
and amazingly, the stock opens at $40.
and 50 cents today.
It closed at $23.14.
But what do we tell you?
As I speak, we are pre-taping this show in the last 15 minutes of the market.
Because I'm doing a little Fox News with Neil Cavuto in a little while, and I want to get the show done.
So it's 3.45 p.m.
The stock opened today at, if I can find it again, I can't find.
Over 40 bucks.
It's $27.90 as I speak.
40.50 it opened that.
And I'm just thinking to myself, what the hell is a matter with people?
Just so you know, in order to go to $40.50, somebody had to pay that.
Now one would hope
One would hope
people are trading it that are buying in the trees
But what do I know?
I don't know what people are doing
So that takes me to my next point
And I'm going to be very careful with my words
Because I don't want to be sued
So let me put it in this way
If you decide
To play this stock or any other stock
Because somebody you don't know
Is doing what they're doing
why don't you question it first whether they have good intentions or bad?
I'm thinking to myself, I don't know when he bought his stock and watch it go down to 17
and he needs to pop the stock back up or did he buy it when it came down at 17?
I don't know.
All I do know at this point in time, this person knows he has influence and I believe he's doing things.
based on that just be careful we're not going to tell you what to do we're not
going to tell you to buy sell short or cover we're just going to let you know it just
went from 65 down to 17 and now today was 40 50 on the open now as I speak it's 2765
it just dropped another quarter and I feel terrible excuse my French but I know
people are losing their ass on this
Nobody's getting it.
I take that back.
I'm sure some people got in it $18 and prayed.
But most of the noises after the moves.
So be careful.
I can't believe I actually even have to talk about GameStop today.
I can't believe that they have it jammed up.
It's only been, let's see.
It was up to 6483.
on May 14th.
It's not even a month.
It's one week, two and a half weeks,
and people are going insane again.
And let me repeat,
when the music stops,
they all go back to where they should.
You have a company that just lowered their numbers
and diluted their own stock.
Oh, look at that.
It's now down to 2680.
Just drop the buck
as we headed to the close.
And again, I can't believe I actually have to bring this up again.
When do people ever learn?
I've got to tell you.
No, I can't say what I was about to say.
I got to be smart.
Question intentions.
That's all.
Next, protect your capital.
Well, I'm going to read a story.
has nothing to do with the stock market.
A 75-year-old man has shared his heartbreaking text messages that cost him his entire $715,000 life savings in a sickening months-long pig-butchering scam.
The man who did not want to be named told the Wall Street Journal, the ploy convinced him a younger woman had fallen in love with him and needed his help.
The scam began in May, and last year, when a woman posing as a lonely but successful child.
Chinese 37-year-old women living in San Francisco messaged him on LinkedIn.
Over the next three months, she convinced him to transfer his entire life savings into a fake
trading platform promising that they would be able to get married and live together using
the returns on his investment.
Once he had exhausted all of his money and his partner's assets, the women stopped replying
to his messages, and his money is now gone.
one would think I would not have to tell you this story.
One would think we're all very logical.
One would think you don't send your life savings to somebody you have never met.
Yet this man who, I'm told, is sane, lost $715,000, all his money.
And they will never find the person who doesn't.
did this, though if they do, can't say what I would do to that person. And it's amazing when
some of these things happen that I actually have to bring up to you. It's amazing that these
things actually do happen. Up next, we'll put a bow tie on that, complain about a couple of things,
and then the market. I'm Gary. This is the one only investor's edge. Hi, I'm Gary Callbaum,
hosted a nationally syndicated radio show Investors Edge.
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It's time to switch on the integrator units and get the brain cells working.
So, let me put a bow tie.
When somebody tells you they are buying cigarettes in Florida and selling them in Maine
and making 100% in their profit, they want to cut you in, 100% profit,
they are lying, they are trying to screw you.
When somebody says they are food diverters and they love you so much that they're going to cut you in, they are being scammed.
When you are at temple or at church and they start talking to you about religion and have this great thing going on in Haiti where they are selling this.
You're getting scammed.
The bigger the returns, the bigger the scam.
And these people are very good at it.
So what are you going to do when people approach you?
You don't have to be mean, you don't have to be nasty, you're very simple three words is no thank you.
That's it.
This should be easy, right?
It should be easy as all hell.
And why am I bringing these things up?
You wouldn't believe how much money's been lost on food, diverting, and cigarette transferring scams.
You wouldn't believe it.
When somebody calls you up and tells you, you won the mega millions.
But in order to collect, you have got to send a certain amount of money via Western Union down to Bocca Raton, Florida.
It's a scam.
How do I know this?
I've gotten the call a couple of times.
When somebody calls you up and tells you, your computer's been corrupted and they will help you out,
and they're from Best Buy or Dell or Compact, whoever the hell else is out there.
If somebody from the IRS calls you and tells you you're going to be arrested, it's a scam.
If you get a call that kind of sounds like your son, but you're not really sure,
and he's in jail and he needs a bunch of money, why don't you call your son first?
it's a scam.
Do you know how many of those are going on right now?
You wouldn't believe how many of those are going on.
They've been able to grab people's voices and call.
I have a very close friend of ours that are smart people.
That sent out $1,500 to somebody.
Catching my drift?
All this I'm explaining to you comes from one thing in one,
thing only, GameStop. I am not going to call this a scam. I'm going to call it protect your capital
when all else around you is going insane. This is not normal. Somebody by the name of roaring kitty
putting out videos and getting a stock going from nothing up to 65 in a matter of hours is not
normal. And then three weeks later, announces he owns some of that stock and it opens up at 40
and a half today from 23. That's not normal. And we say that as we tell you, we have no clue what's
going to happen in the near term. But what we can do being a little voice on the radio, handsome and
buffed as always, is to just make you think twice, make you a little bit smarter about
protecting your capital. And I would like to say everybody out there is nice and has no interest
in ripping you off, but we know that there are a lot of people out there that love ripping
people off. They're out there in dros, and sometimes it's legally. I think the guy with the
spat ripped everybody off. I'd say,
say it to his face. He sold all his stock into touting the hell out of all these companies that
were merging, made himself a billion dollars. Oh, he's the toast of the town. I tell it to his face.
You're scum. I don't care he's a billionaire. You're scum. You sold into everybody while you
were touting away. So protect your capital when all heck is going crazy.
And we don't know what's going to be next.
We've been reading about NFTs and how much money was lost on that.
All kinds of crap.
Which now we segue.
Ladies and gentlemen, I'm going to spend two minutes on this and that's it.
This is not a political statement, but unfortunately it is on the political side.
I watched Dr. Fauci today.
And as you know, I am not a Republican.
I'm not a Democrat.
I used to be in the Republican Party, but a bunch of maniacs took it.
over. I'm a Reagan guy, but I'm also an unbiased person. Green basically wants them to go to
jail for the rest of his life. If not executed, you should have heard the vial out of her mouth.
And all I know is each and every one of you, I don't care what party. And just remember,
I just want you to remember in real time, only 1.1 million people died in the United States. In real
time. We were turning on TV and we were watching, what do they have? Those storage pods?
They had these freezer storage pods of people dying and decisions were made on the fly as people
were dying everywhere. There is no way anybody could be right 100% of the time or wrong
100% of the time. But they're flogging this guy like he's the freaking antichrist and I got no
blood in the game. The guy's been getting
death threats up the wazoo.
His family getting death threats.
He needs security. And what did he do?
He ran the National
Institute of Health and he
tried to do good things
and get this worked out.
And I got Newsfea. Thank goodness
we got these vaccines.
We're a bunch of people saying didn't work
even though
even though you can get
a, you know, we're technicians here.
You can basically
take a chart
of the COVID,
the deaths,
and when the vaccines came out
and watch how the vaccines went north
and the COVID and the death went down,
yet people are pissing all over the vaccines
like they're the Antichrist.
And there are those out there that are saying things.
Oh, some people are getting sick
and some people heart condition.
I'm not saying they're not.
I'm not going to say no to people.
saying that they have troubles because of the vaccines or long COVID.
Whenever something like this comes out, you never know.
You don't know.
But man, oh man, get real.
Deal with facts.
Go look at a chart of COVID and deaths and go look when the vaccine came out.
By the way, I owe no stock in the vaccines.
I never did.
I got no blood in the game.
But man, just deal with facts sometimes.
get rid or get out of your political, whatever you want to call it, and just deal with facts.
And we got out of it.
And if you think we got out of it just by happenstance, terrific.
I'm not here to sway, but I am out here to defend.
This guy's getting mutilated by a bunch of Republican hacks on TV.
Guy's not perfect.
I guarantee you they made mistakes.
They're complaining about, oh, they came out with the six feet and the masks.
I got news for you.
I never went anywhere, let alone six feet.
We're scared crapless of dying.
I had people down the street from me die.
They didn't know what's best.
Everything was on the fly.
Just remember that.
Get out of your political crap.
And just remember where we were and now where we are.
Up next, the markets.
Crazy day again.
This is the one only investors' edge.
Guys, it's no use putting it off.
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Their zero-chafe thanks to four times more stretch than competing brands,
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With over 30 million pairs sold, there are thousands of men out there more comfortable than you.
Don't settle for less.
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That's Tommyjohn.com code comfort.
Tommy John. Comfort perfected.
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He's 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.
That was my Fauci dissertation.
And let me repeat.
Never met him.
Don't know anything about him.
I have no blood in the game.
Just I'm absolutely amazed that some people need to have a
bogeyman at all times and by the way this is both parties and stop believing everything you
hear from politicians on both sides of the aisles next let me finish up with one word
one place Maldives anybody here this place it's a bunch of islands somewhere they will not let
Israeli citizens visit just so you know they said something stupid about the India
prime minister or something so nobody was visiting and then they apologized well let's see how many
Jewish people decide to go to the Maldives this is unbelievable racism and anti-Semitism no Israelis
allowed up yours you piece of crap I don't even know the guy's name but I just wanted to bring that up
okay now we're done heading to the markets ladies and gentlemen the Dow was down 400 today finish only
down 115. And again, like Friday, a nice little ram into the close. The Dow in the last,
I don't know, let me get it for you. In the last five minutes was up 100 points. It was down 200.
All day the NASDAQ was better because of a couple of names. All day, the semis had relative strength
because of a few names.
And with the Dow going from 400 to only down 115,
NASDAQ was up 93 and the NASDAQ 100 was up 64.
And guess what did it?
NVIDI up 52 bucks today.
They announced some product thing.
And as I look at my screen, not a lot of the tech was up.
Just so you know, I have my screen set in a way I see everything.
And in technology land, there was.
nary things up. Now, Apple
was up. That is the
second largest, I think, behind Microsoft
now. A few
semis are up.
And then you had these, again,
Lamb Research was down 20-something,
finished down five. I mean,
just amazing to watch.
The most important thing, though,
the Dow was down 400, and
only finished down 115. And by the way,
I say the Dow down 115 is a
great thing. Just letting you
No, what else did I see today? Let's talk the negatives.
Okay. The good news fundamentally, oil prices dropped $3 today. That is a huge drop in one day.
There was some news out of OPEC that should have made oil prices go up.
They said they're extending their oil production cuts into 2025.
Really? So prices should go up. Instead, they went down. And a lot. Fundamentally, that's good. Why? Just for you, the consumer at the pump. What else happened today? Fundamentally, for you, yields dropped over a stick today to 4.40. That's great for you. But I also have to say, United Rentals down 32.
or down seven, was down 12.
Oil stocks got trashed.
Parker Hannafin.
These are just economically sensitive industrial types.
Down 18.
Carlisle, down 12.
You get where I'm going?
So the good news is the Dow rallied back up some.
Most of the way, that's good news.
the semis and the NVIDIA thing good though may I state for the record that a lot of red
and then the transports were down another 163 so here is my question it's pretty good question
is the market starting to really yap of economic stress we already had a 1.3 GDP
We already had a 1.3 GDP. We'll see.
All I know is if demand is dropping, oil prices will drop, yields will drop, and economically-sensed stocks will drop.
And I gather the outcome of today was saved because of, in the near term, it is really good.
good news. It's really good news that yields are down markedly and oil prices are down
markedly. Now we don't tend to know the exact one plus one equals two, but certainly
that would be a, what I would call a decent thought process on the outcome. So just letting
you know, anything economically sensitive really ick today.
Now, they were also coming after financials, but they were a big help to the market
coming back today by finishing off their lows, and I gather that was the lower yields,
helping to a certain effect.
So a lot of cross currents, but good to see for those that are market invested, the Dow rallying 300 points in the last half hour Friday, and today 300 points off the lows doing the trick while NVIDIA, NASDAQ, NASDAQ 100 semis.
advanced declines on the NASDAQ were flat.
So we'll call it very good outcome by the close.
And you know we're big likers of how things close.
And the fact that two days in a row they closed them well,
probably a good thing.
Because if they can't sell them off when they can sell them off,
You get my point.
The same thing about if they can't buy them up when they had a chance to buy them up.
Gold bounce today, but I got to repeat.
Huge for you the consumer.
Oil prices plunging and yields heading down.
In spite of a lot of things.
Now, listen up.
if
we end up going into some sort of
pretty good recession
do you know how we'll know
the Dow that closed at 385 today
will be at 355
the SMP that closed at 528
be at 4,700
I've never seen a time
where the market did not flush out
a real bad economy.
Now, again, we're starting to see it in some areas,
and this is added to software stocks in bad shape,
a lot of tech, not big tech in bad shape,
amongst the transports in bad shape,
but overall, another good finish.
NVIDIA.
What I am told is the reason why
NVIDIA was up 50. By the way, we own NVIDIA. As you know, we bought it January 8th.
Sold it the day after the big reversal. Just bought it back on the gap.
Amazingly got 100 points in days. Supposedly, more products and quicker. And the market like that.
That's the story. And others had a pretty decent day. And up next, we'll go through some of the others.
and a couple of other things that are sticking out both good and not so good
is the jello is moving on the plate in a big way.
Up next, we'll cover that.
And whatever else, I'm Gary.
This is the one only investor's 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-chafe 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% off 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.
Venture X 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 Capital One.com for details.
This episode is brought to you by Spreker.
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You're listening to.
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Action!
In Investors Edge.
With Gary Culper.
And well, once again to Investors Edge.
I'm just going to mention a few names.
Chipotle,
finished down 53 today after being down 95.
They're being accused of lowering the amount of food they are serving.
They have denied it.
I'm not sure if that's the reason why the stock was down.
Just letting you know it was.
This has been one of the stronger restaurant stocks,
while a bunch of restaurant stocks have been very, very weak.
We'll see how that plays out.
I will say I went to Chipotle yesterday,
got the chicken or whatever it's called the spicy one,
and I will state for the record, it's only one sampling.
I had to get a double of the chicken
because of how little they gave of the single.
And I wasn't going to get into it with them
because the guy was really big behind the counter.
just letting you know what else uh Eli Lilly as you know the os the obesity drug and this and that and I have questions about it longer term but I'm I'm just a doofus that hit a new yearly high just broke out around at eight eight hundred something like that up about three percent nothing big but just letting you know it's sticking out the other one which is NVO
Novo Nordisk has not broken out yet to be watched.
Wanted to mention that.
I don't know what did it today, but some big biotech, Vertex VRTX into new high ground.
Regeneron, close.
So a couple of big biotex sticking out.
By the way, not a lot sticking out on the upside, but Facebook meta.
and as you know we made some very good coin on Facebook coming out of the right out of January
Gap down, defended, has made a lower high and we're letting you know it's sitting right under
the 50-day moving average. If it can break above it, that would change the playing field
for this very important stock. And again, usually when stocks gap,
down they keep going meta netflix both had bad gaps to the downside both got very much defended
that is a rarity but letting you know spotify now maybe i'm missing something i thought they announced
five weeks ago they're raising prices did they re announce it today or did they raise prices again
because the stock was up 17 bucks 5% today and that's one of the good charts in the market
just letting you know Spotify don't own it wish I did I don't know about buying it here I mentioned to
your gold GLD sitting right on the 50 day moving average and bounce today just letting you know
the Bitcoin,
GBTC is one of those
ETS.
The next move,
if it moves above
6350,
that would be a
technical move
above range.
If you're looking
at the I-B-I-T,
which basically
coincides,
about $40.70,
both would have to move
above that range.
So a few things
sticking out.
I already did
fear what's
wrong with this market,
and there's a bun.
But there's plenty right.
And again, I got to hand it to the close of the day again today and got to hand it.
Interest rates plunging.
Oil prices plunging.
I think that did the trick.
This week, we just want to let you know.
Tomorrow, crowd strike.
A very important software security stock.
This week, Ali's bargain, it's a,
One of these discount retail stocks that acts well versus others that don't.
Speaking of that, same Wednesday before, dollar tree reports.
I think it's now dollar and a quarter tree.
Five below.
So another discount retailer.
Lulu Lemon, that stock that has crashed since January, they report that's to be watched.
Victoria Secret reports.
I'm bringing this up because
I don't know if you know this
but they changed everything about themselves
and the stock went boom
and now they're changing back
and the stock is acting better.
You know what I mean by that.
I don't need to get into it.
And that's about it
for reporting this week.
Well, smuckers announced
they have good jelly.
Big lots.
So a bunch of discount retail.
By the way,
even realize this big lot stock is down to $3.47. How do you say, ouch? What do we tell you about
thinking long term? Just make sure what you own is working long term. So that's a little bit
on the tidbit front. And I just have to repeat a couple of things. Thankfully, you had this dump
in yields and oil
because very simply
there's some underneath the surface
ick
we'll keep you informed
we'll guide you
we'll still talk what to avoid
I mean oils just got slammed today
there's a few oils that are stronger than others
but on the whole
so remain a void
China
not sure.
Been on good pullback mode.
The biggest problem there,
if you look at the FXI,
there's a lot of Alibaba
and Baidu in there.
And I got to tell you both,
act like the south end of a northbound jackass,
especially Baidu,
which by the way, amazingly,
is sitting almost at New Yearly lows.
So you've got to be very careful,
very specific.
I just love the fact.
that Nvidia, Qualcomm, Arm Holdings, Micron, a bunch of these AI names, remain in good stead.
Let's hope that continues. I sit on TV today. That needs to continue. Lastly, Apple acts better. Nearing the old highs. We'll keep you informed. They break through those old highs. Would not be the worst thing in the world.
That all said, 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, I promise.
Peace out all.
Stay well.
Don't be mad at me.
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.
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