Investor's Edge with Gary Kaltbaum - Financials Day

Episode Date: September 14, 2023

garyK.com or https://garykaltbaum.com/Considered one of the finest radio shows on the markets, the business world and everything that affects them, Investor’s Edge with Gary Kaltbaum, a Fox News Channel Business Contributor, brings his in-depth take every day. If you want fluff, this is not the place. Gary is a hard hitting and pull-no-punches host especially when it comes to people in power affecting you and your money. His daily in-depth analysis on the markets is second to none.

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Terms apply. Lounge access is subject to change. See Capital One.com for detail. 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 Coltbaum, your host.

A thanks for being with us today. Glad you here, ladies and gentlemen, happy that you are listening. I think it's Thursday. I think it's September 14th. I'm pretty sure it's 2023. Hope you having a good day. Woke up at 3.30 in the morning. I'm still on Dubai time.

It's not getting easy, but I think on the weekend I will be back to normal or getting close to it. Most important part is 36 days without a back spasm. And you know how bad I had it for a while, ladies and gentlemen. I have my own stretcher that I hired. I have somebody who stretches me. And I'm working on the hips, the back, and now really going after the hamstring. String. And again, my thanks to all that emailed me, help me out.

After I'm done with this show, you know what I do? I stretch 20 minutes this morning. I'll stretch 20 minutes again, then I'm going to the pool. And that is all. Hope you having a good day. Ladies and gentlemen, we'll do the news a little bit later. We're going to do the markets in just a couple of minutes. I just want to put things in a nutshell.

today and what we have to deal with as we move forward. Hunter Biden was indicted. Some gun crap. It is my opinion. This is a sham. The real problem for the Bidens are there unadulterated out for everybody to see, influence peddling, nightmarish, taking a million of dollars from the from countries that president bider or vice president time was dealing with influence peddling that's the big story to me this is one big giant charade three card money here here here's my left hand while they do all the crap with the right hands and then the other part of today i want you to think about this first off president biden um in case you don't know you now have two op-eds from the Washington Post and the New York Times not exactly

conservative bastions calling for President Biden to not run for reelection wow huh now I don't know what he's going to do does not matter but let's say as of right now he is running who is he running against Donald J Trump Let me tell you what Donald J. Trump did today. And then you ask yourself, A, do you want Joe Biden as president that's number one, who by the way is out talking about binomics today and how great he is? And of course, he sucks. How do we know?

He is running a $2 trillion deficit this year. He is spending $2 trillion more than the federal feds are taking him. And that whole $2 trillion is the amount our government is growing from the year 2019, the year before COVID. And the amount they're spending is about the same as what we spent on COVID. It's a crime. It's a sin. It makes me ill. And he's out talking the talk.

Look at the economy. And then we go to Donald Trump, who, if Joe Biden continues to run, he's going to be running against Donald Trump. Let me tell you what Donald Trump does when he hears about Hunter Biden being indicted. It was like I told you so. You're indicted. You're indicted. You're indicted. You know what I mean.

I'm being a little facetious. But he was making fun of the indictment from a guy. who has 91 counts against them. These are the people who are going to be running to run this country. Two lying juveniles. How did we get here? Donald Trump was making fun of a guy who was indicted today. Rightfully so, he should be indicted.

But Donald Trump, what has he got? 91 counts against him? and just so you know, he will be found guilty on a bunch of stuff. And if he doesn't win the presidency, they may put him in jail. Even though if I was president, he was found guilty, I would not let him go to jail. Just being an ex-president. And you know, I can't stand the guy. I'm just letting you know, in a nutshell, that was today.

These are the two people. What do we have, 350 million people in this country? How many adults? 175 million maybe. Is that about right? I don't know. I'm guessing. And this is what we come up with?

A simp in an imp? Anyway. Okay. I'm done. Let's get on point. First off, number one. On Tuesday, we did our normal radio show and we said, hey, just letting you know, the big financials had a good day today and maybe they woke up.

And what do we mean by that? A stock, a sector, a market is in a downtrend, doing nothing, making no money for anybody, in fact, just losing money. And then one day, boom. And what do we mean by boom? A good day covers some territory and volume gets. It's heavier. So in other words, some conviction doesn't change the playing field, but we call it waking up with one other word, potentially waking up. Just because you have one good day does not mean the playing field has changed. Now, as you know, the financials are the second most important area in the market. They used to be number one. and then 08 came and all the crooks did what they did with the fraud and all that

and then it turned to the semiconductors we believe the semis are one financials are two but they're still important and of course they had a death drop back in february especially the regionals so it's imperative that at least they're part of the process well today had another good day we don't know why we don't don't care. We deal in outcome. What we do know is on Tuesday there was a banking investor conference and they talked and whatever they said the market liked and I trust them as far as I can throw them but we only care what the market thinks. It doesn't matter what we think and had another very good day today. What do we mean? Goldman Sachs up another nine and change. J.P. Morgan up

280. Keep in mind, Goldman is a little more higher beta and double the price. And it brought along others. So very good day for financials. Always a help. And what else happened today? Other comatose areas, I'm not going to call them waking up. I'm going to just say they had a good bounce day. Housing, which has been a little bit of a downtrend. transports were up today. They've been very weak. Commodities had a good day today. And may I state for the record, I don't know what's going on.

And I must tell you, I think I'm a know it all, but I had no idea what coking coal was until today. I think years ago I read about it, but I never really got into it. The coal stocks are going like vertical. And then I googled the words, Coking coal charts. And yeah, the price of coal is like going vertical. And I'm trying to figure out why. And somebody explained, oh, Ukraine, I don't know.

We're just letting you know the coal stocks are going ape, you know what, to the upside here. AMR up $16 today to $244. 4 ARCHH up 8 to 158. So that helped. So when you get a day where the financials, the commodities,

and just the stuff area of the markets all in unison, you get a good day today. Now, when I give you the final numbers, it's not even 1% on the day. But it was a good, broad market day for a change. I've already scanned. Yes, I have already scanned. Leave no doubt that for the financials, that was some follow-through today.

We'll see what Tamar brings. Up next, more on these markets. Lots more. This is the one only Investor's Edge. 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.

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With Gary Coltbaum. It doesn't get better than this. and what once again to investors edge coal stocks by the way we saw the coal stocks breaking out and you know what we say when we see coal stocks breaking out a range we're not buying coal stocks where are they going on august fourth august fourth AMR had a real high volume move and then within a couple of days broke out of a one-year range, trading range to a new high. And that's what we look for.

And I'm like, coal, that day was 184 when it moved out of range. and that was August 9th. It's September 14th, and it's gone from 184 to 244. Cole. You know what I got to do? I got to get rid of some of my bias. You know, we love growth stocks. We know by history, you find the companies with great sales and earnings growth,

the stronger, the better, the longer, the better. Because commodities, they come and go. Boy, but I would love to ride that breakout at 140, 184. And by the way, I would have probably sold it today because it's doing what I call somewhat, I don't know if you call it climactic because it just broke out a few weeks ago, but I would have been selling some today, but I can't because I don't own any. Coal. Oil. Oil prices up $2 today.

didn't hurt the market the 10-year yield was up 0.39 to 4288 didn't hurt the market the dollar was up didn't hurt the market this is the opposite of what's been going on for quite a while when oil's gone up when the dollar has gone up when yields have gone up it has actually hit the market instead the broad market got going what's with that my answer I don't know know we just followed the bouncing ball and we're just letting you know very simply very good broad market day now yesterday we had said to you man I'm looking at this stock and that's like these economically sensitive names the strongest economically sensitive names were breaking down off the tops while so many others were already weighed down here's the rub As I'm going through the names that we talked about yesterday, hardly any of them. They bounced today, but they all pretty much look like crap. The only one that bounced to the point where it erased yesterday was Caterpillar in the Dow.

So we'll see what comes of it. Normally I would say, today broad market day, yields going up, dollar going up, oil prices going up. is the market saying the economy is accelerating from here and not decelerating? Like so many of these economically set, you get my point, choppy cross currents in the market. But good day. Again, we weren't even up 1% today. But it was one of those good, broad market days that we haven't had a lot. lot of and I have this one page that I call the stuff page it was pretty bright green today tomorrow's

Friday we'll see what happens so today's market wrap brought to you by investment dash models 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 his proprietary indicators go check it out investment dash models dot com doubt 3 30 not even 1% s and p up 37 not even 1% Nasdaq up 112 not even 1% Nasdaq 100 125 not even 1% transports up 139 not even 1% but it was a nice broad base move cannot argue that point now I've already scanned 1500 stocks in the last hour of the And we were actually up 400, 150, I think. So we pulled in, so no real changes.

I must tell you, A, I think financials, a complexion change. Doesn't mean they're in a bull market, but they're no longer an anchor on the market. But then when I go through stock after stock, what we are looking for is what we call launching pads. Can't find any. Really couldn't. really couldn't. Oils had another good day, but the oils didn't act that great

in relation to oil prices being up two bucks, and it has me asking some questions fundamentally. So we had a good market day, but oil price is at 90 now, yields up, that's credit cards,

mortgages, anything on balance. We'll see we're still very much on the big indices are range bound off the highs small and mid caps much worse. They had a better day than the big caps today and we'll see what comes of it. Can't go further than that except to tell you a very important anchor on the market financials followed through today from its little weight up on Tuesday. And then you got this, I don't know if you call it the big inflation trade, but the CRB index of 19 commodities is at a new yearly high. And my little screen of about 30

commodity stocks, not one of them's red. Even the steel stocks that came under pressure in the last few days, they bounced today. Still don't look good, but even they bounced. So, broad-based. Wish I can go further than that. Next thing I want to bring up, symbol ARM, just letting you know, went public today. They used to be public. Then they weren't public. Now they're brought back public.

I think they did a $51 IPO, opened at 58, was humming around, doing nothing. And then in like the last 15 minutes, they rallied up. from 58, 59, up to 63. It's a semiconductor name. I got to see their numbers. I have not seen them as of yet. Just remember, earnings and sales. That's going to be Muay and Portante.

And we do worry about the semiconductors and over-ordering and double-ordering because of AI and all that stuff. We'll see. Now, we got some emails on Netflix that cracked it wide open yesterday and down another 12 today. They're blaming it on, I guess, the writer's strike.

No, it's got to be more than that. As we have said to you on Netflix, here's our trouble. You've got to grow the business. They're not growing anymore. Up next, more. This is the one only investors' edge. 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. 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, Sprinker 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, you might as well publish it. This message is brought to you by the Capital One Venturex 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 Lounge is 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. We'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. So, as we were saying on Netflix, sales growth 6 2 4 and 3 that's been their sales growth the last four quarters earnings are down

year over year competition is heavy and we're past the point where they did the thing with the password where you can't share passwords anymore and they made some you know extra coin off of it that's the problem getting a lot of emails on apple apple was up a bucket 50 today after being down yesterday its relative strength has been dropping it's weak the up days have low volume the down days of that heavier volume or we just wanted to state the fundamentals again if the stock starts acting well we'll tell you two things historically apple's price earnings multiple was in the mid teens and that's when they were growing big they're not growing anymore It's not because the company's bad.

It's because they already do $350 billion in revenues. It's tough to grow. And you got some China issues, but overall, $350 billion, let me see, $170, $270, $2.80, $2.90. How about $370? It's tough to grow. Last four-quarter sales plus $8, minus 5, minus 3, minus 1 year over year. earnings you ready plus four minus 10 zero and plus five yet the stock has come off the lows if this was an apple it'd be 20% lower so these are the things we watch and if the stock starts acting better just so you know in its assent we owned it we sold half right before earnings and it croaked and we sold the other half right after it was acting well it is not acting well anymore and I must tell you, I follow some very smart people on Apple that don't have a bias.

They're actually kind of worried about how many of these new phones they're going to sell. And the interesting thing, and I think part of the discount recently, the expectations were they were going to raise prices, and they didn't. So I think there was an expectations of margin expansion, and they didn't. and then I think there's the question of, well, if they didn't, what are they worried about? Remember, the market tends to question things. We'll see. The other part of the equation, it is the most over-owned stock in the history of stocks.

So if things go just a little awry, that's selling. So we don't own it right now. We'll let you know if that changes. but that's been a little bit of an anchor. But again, I just want to back up again and tell you, financials woke up two days ago, had some follow-through today, and when we talk in financials, mostly we're talking the big banks. The regionals are up a little bit.

The last day, they look like crap. We're talking Goldman and J.P. Morgan. Goldman said something at the conference Tuesday market like we're talking Morgan Stanley these are not in uptrends they're not in bull markets but they're definite the last few days recovering some of the ick recovering some of the ick back on the fundamentally I just personally wonder if oil prices keep going higher not a problem if yields keep going higher is not a problem we'll keep covering it.

Hopefully you'll keep listening. But good day today. I really don't have a big complaint. And you know I love complaining. Yeah, volume wasn't that great. Okay, a little complaint. Volume a little better on the S&P 500. In the news,

hmm. Well, they're writing about the things we have told you about for quite a while. article comes out on VinFest. That's that Vietnamese company that went into a SPAC. I didn't even know this, but at the highs had a $190 billion market cap. $190 billion. $190 billion.

They haven't sold a car. The guy who runs the joint has 99% of the stock, and that's why it ramped up like that. You'll be careful. It's already back to $16. It's worth a buck. No, seriously. It's unreal. Wall Street Journal article, fuel prices are soaring.

Who is feeling the pinch? Everyone! We have a good ear to the ground. We speak to people in industries. Everyone. Truckers? Uber drivers, Lyft, door dash, all those people. We're at 90.

Now remember, when oil prices went up, it was the Putin price hike. When oil prices went down, it was because of Biden. Now it's going back up again. They haven't said a word. I don't even blame Biden for it going up, except if I was president, they wouldn't be going up like this. Oil prices have something to do with OPEC, but it also has something to do with investors, traders, and speculators on what's going on the ground. and I'd be telling the world we are pumping oil, baby, and they'd be selling and they'd be shorting,

and oil prices would stay much lower. But you got a president who, I don't know if you know this, last week canceled leases in Alaska. You've got to keep the caribou happy. Don't worry about us and how much we're paying. And that's a big lie to. When you have a chance, go look up the, how many acreage and miles of Alaska wilderness there is?

and the amount that oil companies want to go in and how much they would take up versus wouldn't harm a flee. But you got a cater to your so-called base and we're at 90 bucks. And in another 10 days, oil prices will be up another 15 to 20 cents at the pump. And that will be the story. and again that flows through the economy in about as big as way as possible as we have said to you Google the words products that are made with petroleum there are a bazillion so not a good day for that but the market ignored it for the day Adobe reported in the aftermarket.

It was hit because of Oracle. I got it down another three bucks on the day, including the aftermarket. Down two bucks in the aftermarket. So no biggie. Didn't get smack like Oracle did. And there's really not much else. Lenard did report in the aftermarket is down two bucks. And they actually reported good numbers.

And we're pretty much out of earning season. I got to wait now until the third week of October for next earnings to show up in a very big way and frankly I don't have a clue but we'll be ready as always we doubly work hard during earnings season to stay on top of things

also of note we're now hearing that Disney expects to fall tens of millions of subscribers short of the 2024 subscriber goal for their streaming. You know what the problem is? They brought in so many people so quick. Very tough to grow that.

Up next, this, that, and the other thing. This is the one only investors' edge. 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 Capital1.com for details. This episode is brought to you by Spreker. 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's 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. Sprinker, because if you're going to talk to yourself for an hour, you might as well publish it.

This message is brought to you by the Capital One VentureX 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.

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. Well, something we have known all long and something we have talked about.

about every now and then on the show, having to do with you and the future of the country and families. And as you know, we've worked close with the Boys and Girls Clubs of Central Florida and we've seen it. The story goes, they came out with statistics this week that we already knew about. And even published in the New York Times that is loath to admit some of these things. And that is kids without a father, the statistics are not great. Just letting you know. Some of these, whatever, are finally coming around to the things we've already known. The unimaginable has happened, as they say.

They are realizing that logic, quite the logic. And my favorite news of the day is when the teacher's union boss of Chicago, the union president who named Stacey Davis Gates who does not want school choice does not want private school for your kids so they can better their education because of failing schools

oh it's come out she sent her kids to private school don't you love people you know how much of this crap is going on this hypocrisy that screws you and your family while these elitist politicos in different areas of whatever this teacher's union boss

and she has the nerve to go on CNN and try to defend ourselves oh well you know my son's an athlete and you know athlete thing go screw take a hike in New Jersey in New Jersey

every statistic shows that the charter schools have done so much better than the public schools. And you know what this scum of a governor did? He shut down the charter schools from increasing going forward. And yet parents will still vote for these maniacs. Think about that. How do you vote for that person?

Staring them straight in the face are schools that are failing. And you have a chance to do these school vouchers so you can make a choice for your kid. Nope. The governor. New Jersey. By the way, we're not making this up.

We're not making this up. It's amazing to watch. Here's another one. The governor of Oregon. Kate Brown. My peeps in Oregon. KPNP. Portland.

The Oregon. governor just signed the bill get this removing reading writing and math requirements for high school kids in order to help students of color that's what she says so is she saying students of colors are morons is she putting down students of color is that what she's doing well let me tell you what she's doing not only she's putting down a whole race But she's dooming students in Oregon because I got news for you. If you lower requirements, if you take away merit, you're taken away upside. And when these kids go into the real world and compete for jobs, and they go into interviews,

and they can't answer the simplest of questions because this moron of a governor takes away the requirement for high school kids on reading, writing, and math, that person who's doing the interview is not going to be able to blame the governor. Yet they keep voting these morons in. It's amazing to watch how you vote these morons in that are, excuse, I'm going to use the term, ass backwards, illogical. The goal of school is to lift up. reach for the stars, not the sidewalk. Yet these dummies, she's telling the black community you're idiots. So we're going to lower the requirements for you to help you out.

And all they're doing is hurting them. The dummies aren't the black kids in the black community. The dummies are the governor. These are the things I got to report to you. Gary, what the heck does this have to do with you and my me and my money? It's the future. These are the leaders of the country that are kicking the country in the teeth. Joe Biden is out patting himself on the back today on Bidenomics.

He's spending $2 trillion more than to take it in. That's a crime. You want to impeach him for something? I'll impeach him for that. As he goes around saying that he's cut the deficits. So that's our news of the day. Besides, it's Thursday. And tonight's Thursday night football.

And I got to decide whether the player running back for Philadelphia or not, who they only had two touches last week, the Andre Swift. That's my big stuff today. Back on Vine Markets. Very good broad market day. It's just one day. Good to see the financials. By the way, Adobe's now down six, seven bucks in the aftermarket on earnings.

We'll see how that plays out tomorrow. that's a big name. You already had Oracle Gap down on earnings. That's two software names. We'll see what that means. But just much better broad market day today. We'll take more days like this going forward. The problem, again, not a lot of leadership, just a bunch of recovery.

Hopefully we get more. Tomorrow, I'm on with Cavuto. Neil Cavuto, the great Neil Cavuto. Noon hour Fox Business Network, check that out. And the same time tomorrow, this radio show. You have a great evening. Drive carefully. When you get home, do like we 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. Have a great one, everybody. Thanks for joining us. An honor and a privilege that you would listen to us.

Bye, bye. This has been Investor's Edge with Gary Cultbaum on BizTalk. To listen to past episodes or to get in contact with Gary, go to Gary K.com. That's GaryK.com. This message is brought to you by the Capital One VentureX 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 Capital One.com for details.