Investor's Edge with Gary Kaltbaum - For a change

Episode Date: October 16, 2023

http://garyk.com/...

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Starting point is 00:00:26 That's Tommyjohn.com, code comfort. Tommy John. Comfort perfected. 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 of being with us today.
Starting point is 00:00:47 Glad you're here, ladies and gentlemen. Happy that you are listening. Last I looked, it's Monday. It's October 16th, right? Yeah, 2020. Hope you had a good weekend. My wife is out of town, taking care of my goddaughters. So I spent the weekend with Winston.
Starting point is 00:01:09 And just so you know, Winston is sitting right here in my office, wagging his tail, hanging out with me. He's very needy today. Some days he just wants to hang around with me. You may hear barking in the background, but right now he's relaxed, taking it easy. Winston, he's 12 years old. he's got a little cancer the good news is they diagnosed it a year ago when they were all worried it's a year later
Starting point is 00:01:34 and it's kind of sorted we're going to have a little surgery on Wednesday to knock the hell out of it my good my dog Winston Wednesday is a big day for the family in case you don't know Winston what my son Aaron did
Starting point is 00:01:53 in his last year in college he rescued Winston and he knew he was moving to New York City and he knew I'm a sucker for dogs. So he moves to New York City. Dad, Winston's going to be with you. I didn't complain. And Winston's been with me now for about 11.5 years.
Starting point is 00:02:17 He sleeps at my feet. Everybody who has dogs, you know what I mean. He sleeps at my feet. He lives to please me. That's my dog. My wife doesn't understand how she does so much for him, walks him as much as I do, if not more, because I work during the day and I'm at the office.
Starting point is 00:02:40 And yet, he lives and breathes, Gary. Gotta love that dog. Anyway, he's sitting there hanging around. Ladies and gentlemen, the update. We pull no punches here. We give no quarter. I have been asked by the many this weekend, would I join in with other CEOs? I'm a little guy who want to blacklist anybody who would sign off on backing Hamas and these animals.
Starting point is 00:03:18 Some people like Vivek Ramoswamy comes out and said, you really shouldn't. They're young. and they're impressionable and this, that, and the other thing. And I'm thinking to myself, okay, I was in college. I didn't go to Harvard. I went to University of South Florida, played on the tennis team. I wasted my college. If I ever do it over again, I would do something better with college.
Starting point is 00:03:45 I wasted my college. You know, everything you do in life is what you put into it. I wasted my college. Everything I have learned, I learned. after college. But I do remember one thing about college. I never backed terrorists who behead infants, burned babies, murdered families, destroyed generations of people. And unlike the Nazis who try to hide it, put it on GoPro and video, had them laughing while they were doing it. So I am sorry. I was in college for four years. No, not seven years. Okay? You know, the seven years of
Starting point is 00:04:32 college down the drain from Animal House. I really don't remember ever thinking about celebrating and praising murderers. And I'm pretty sure I was old enough to make good decisions. So my message to Vivek Ramoswamy on anybody else that thinks it's just A-OK. I'm not going to say it. I'll be diplomatic. You know where I stand. There would be no way in hell I would ever hire anybody at any age who says. celebrates and is happy with what these people, people, with these animals did.
Starting point is 00:05:38 Subject closed. Now, in case you don't know, this is my thought process, what's going on right now. I think Israel quietly decided a little bit on the political side about telling the Palestinians to go south that they didn't give them enough time. and I'm pretty sure they are now going to, I think it's going to be a few days and then hammer be down. It's going to be a tough road. I don't have any idea how you differentiate the terrorists with the Palestinians that are not terrorists. I would not want to be in their shoes. By the way, in case you don't know, just want to make sure you do know a couple of facts because I know You hear this, that, and the other thing.
Starting point is 00:06:33 Israel left Gaza in 2005. I don't know if you know that. I do. They left. The families left. The army left. They uprooted families. They gave the keys to the Palestinians.
Starting point is 00:06:51 Go. Make great. And the Palestinians let Hamas take over ever since and turned it into a. blank hole of terrorism. Oh, but that's Israel's fault. While Israel, by the way, during that time, well, if you ride the highways in Israel,
Starting point is 00:07:18 you will look up at the buildings and see every major corporation at the tops of the buildings. They have created major technology companies, medical companies, drug companies, great economy, great democracy, you know, the lie of a problem, apartheid. If you go into old Jerusalem, they have all these markets in there. Jews, I was surprised when I went there the first time. Jews, Christians, Muslims. Wait, what? Jews, Christians, Muslims are living together, working together, eating lunch together and playing together? No. I didn't know that. They don't tell you that. They tell you it's apartheid. Every race, creed color,
Starting point is 00:08:04 gender, live and play together. Try being gay in Palestine. Try being gay with the Hamas. You won't be gay for too long. You won't be breathing for too long, but it's Israel. So just letting you know some facts. It's a load of crap what you're being fed and these poor little students that are sitting there. I saw it was like this little, I think she was like 19 to 20 years old, was wearing one of the vaccine, you know, the COVID mask. She didn't want to show her face. And she's like screaming, Israel occupation, this, that, Israel, terror, this, that. And the journalist was trying to ask a specific, and they wouldn't answer. So these people are upside down.
Starting point is 00:08:56 They're in another land. I think what happens is you get into a group and you just. get into a group and you end up and don't know what to tell you. You know what the Jews have been doing this last week? They're mourning. That's what they're doing. And they mourn for any Palestinian. That's not a terrorist that dies because that's who they are.
Starting point is 00:09:24 While some of these Palestinians are given out candy when a baby's beheaded. So I give no quarter. The squad can go screw. Every terrorist should be eradicated from this earth. Hell is not good enough. And in case you do not know, I took it upon myself. And it was not easy to watch every video, to see every picture of what they did.
Starting point is 00:10:00 You would not think these people of this earth, yet they were. All right. And hopefully, sooner rather than later, we can, we move on. But this is too important. Do you know why? I'm worried. Do you know who's crapping in their pants right now? Has to be.
Starting point is 00:10:29 The Biden administration. Do you know why? Our border. Do you know what a gotaway is? Do you know me godaways are in this? country right now, we don't know who they are. I bet you the Biden administration is quietly amped up intelligence up the wazoo on every person that's come through that border. I don't know if they can or not. And they probably, I don't know what they got going as far as intelligence,
Starting point is 00:11:03 but they got to be scared out of their width. Do you know many people have come through the border in the last year? Holy smokes. Up next to the markets. This is the one. and only Investors 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.
Starting point is 00:11:44 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, will carefully evaluate your personal goals to determine a proper investment strategy. If your current approach to investing is not getting you to where you would like to be, call us to make an appointment for a complementary portfolio review.
Starting point is 00:12:13 The number to call is 888-4-22-559. That's 885-9. That's 888-4-22-55-59. Investment advisory services offered through call-bomb capital. management. 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.
Starting point is 00:12:43 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.com. Tommy John. Comfort perfected. This message is brought to you by the Capital One Venture X card.
Starting point is 00:13:09 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 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,
Starting point is 00:13:48 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. Sprinker, because if you're going to talk to yourself for an hour, you might as well publish it.
Starting point is 00:14:28 It's time to switch on the integrator units and get the brain cells. working you're listening to hey this promise is to be fun investors edge the last bastion of quality programming with Gary called bomb it doesn't get better than this and well once again to
Starting point is 00:14:50 investors edge and for those every now and then who say Gary I turn on your show I want to hear about markets well we're talking markets if you don't think this matters to markets and your job in the economy I can't help you next on the
Starting point is 00:15:21 parade is my giants got ripped off. A terrible coaching by the Giants at the end of the half, but at the end of the game, that final play was easily holding. The ref was standing there and did not call it, and the Giants lose to Buffalo. Though they played a great game, they overplayed what they've been doing recently, and hopefully it's the shape of things to come. But very depressing because they should have won the game. A couple of bad coaching this. decisions and then the refs. I'm so sick and tired the NFL refs taking the game out of people's hands by A, not calling something that is definitely and calling something that isn't. And they have a tough job, but man, some of them are terrible. That's me complaining about my giants. But I had a big bet on
Starting point is 00:16:15 Cincinnati minus three yesterday, and they won by four. And the other team was on first and goal at the nine at the end of the game, so I was sweating it, so I was very happy. It was my only bet of the week. I thought Cincinnati would blow their doors off. But whether you win by 28 or 1, it's still a W, and that's my football now. And no football has nothing to do with you and your money in the markets. That all said, we thank you for being here. This is Investor's Edge. Serious talk on everything that affects you, your money, the markets, the economy, your jobs with a little I'm going to injected every now and then, but I must tell you there's not a lot of comedy at this juncture. And if you do not get this radio show in this city, we will post it at garyk.com.
Starting point is 00:17:08 We'll also post it on our Twitter feed, which is X feed now. And if you do not follow us, just go to X and put our name in or press the button at garyk.com. You may email me, just be nice. not like this anti-Semite that keeps emailing me calling me hi me I got a guy that calls me that and says but I'm not anti-Semitic I love people ain't it great okay so Friday was a real crappy day for the market Friday was another one of those days where advanced declines were bad the finish was bad
Starting point is 00:17:59 and as we came into Friday this weekend I had nothing good to say excuse me in fact here my dog in fact the advanced decline figures the advanced decline breadth of the NASDAQ
Starting point is 00:18:21 into new bare market lows continually as the NASDAQ holds up by a select few big mega cap names. That's my dog. Don't mind him. He's great. And I must tell you,
Starting point is 00:18:41 I'm thinking we're walking into today, didn't affect anything I'm doing. And I'm like, all right, we have earnings coming out. We have 17 Fed heads doing speeches this week. They better hang on here.
Starting point is 00:19:00 They better keep the big seven to 10 in shape and then bond yields are going higher and then I'm noticing futures keep going up. I'm like, what's going on? Answer is, I don't care. I only care what the market decides to do and how it shapes, how it forms, and their patterns. And as I have said to you, just a ton of stuff is in downtrashy. and we explain down trends to you very simply. Two steps down, one step up.
Starting point is 00:19:44 Two steps down, one step up. Two steps down, one step up. That's how we explain it. Very simple. And what we are looking for for the betterment of the markets is two steps up, one step down. In fact, I'll take one and a half steps up one step down.
Starting point is 00:20:09 I'll take anything better than that. And we don't just do it via the index. We do it via sectors and stocks. And what we look for, just so you know, is A, something stop going down, a floor. Price hits an area and it just doesn't go below. B, it breaks above, an area it couldn't get above, meaning step up. And we want it in names, sectors, indices.
Starting point is 00:20:53 That's all. Now, the indices we know are very much influenced by a few names, like the NASDAQ is much stronger than the Russell 2000. because as we've said the broad market stinks, small cap stink, you got to know what's working, what's not, and stay on top. Well, in the NASDAQ, if the NASDAQ can break above 13,714, stair step up. on top of the little recent stair step up at 13,000 383. So we'll be hopeful. While underneath that surface, it's just gross. But today was a good day and the worst areas had a strong day.
Starting point is 00:21:51 There's only one problem with me saying that. We've said that a few times in the last few months. we've had very strong days where we would say the worst areas were the best today finally a good day for the broad market and four days later they were croaking the market is this time different
Starting point is 00:22:13 we'll let some cards come out of the deck as guess what a few thousand earnings reports to come out in the days ahead simple as that I can tell you tomorrow right before the open is Bank America Bank of New York Goldman Sachs Johnson & Johnson Lockheed Martin
Starting point is 00:22:34 After the closed j b hunt United Airlines Wednesday Morgan Stanley Northern Trust Proctrine Gamble State Street Bank Travelers US Bank Corp Elevents Alley financial abbott labs after the closed discovery financial lamb research Netflix uh... PPG Industries SAP Tesla That's just due Wednesday and we left out a hundred other ones So we'll let you know. And on a daylight today, we will give out the numbers in a minute, which was strong.
Starting point is 00:23:06 What we look for, does anything really stand out? Really big strength. Up next. That'll be up next, the numbers. 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.
Starting point is 00:23:38 There's zero shape 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.
Starting point is 00:24:01 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 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,
Starting point is 00:24:44 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 Sprinker distributes it everywhere people listen. Apple Podcasts, Spotify, and about a dozen apps your cousin's swears are the next big thing. Even better, Sprinker helps you monetize your show with ads, meaning you're not. podcast might someday pay for, well, more microphones. Start your show today at spreeker.com.
Starting point is 00:25:15 Sprinker, because if you're going to talk to yourself for an hour, you might as well publish it. 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.
Starting point is 00:25:36 It comes highly recommended. You're going to feel better if you talk to him. And well, once again, two and a lot of it. Investors Edge. By the way, again, I went to college University of South Florida, played on the tennis team, hug out, hung out with Bovieve and Robert Crames, and my buddy Lenny, and we hung out. Watch General Hospital. My buddy Lenny, when General Hospital was so hot, they used to have the mall at University of South Florida. He used to sell sweatshirts and t-shirts. I'd rather be watching General Hospital, made a mint. used to hang out on Clearwater Beach, really nice beach. And one, a beach before that called Bentie Davis Beach.
Starting point is 00:26:18 And believe not us college kids, we used to go to Burn Steakhouse whenever we could. And we used to hang out on Dale Maybrey at Bobby Rubino's. Place, rib place. That was my college. I freely admit it. I blew it. I didn't really, I didn't study a lot. That was my bad.
Starting point is 00:26:40 If I would do it all over again, I would definitely done something different. Nothing on the school. You are what you make it. Duh. Dow up 314. So we have this line. It's only 1%, but it's a good 1%. Today was one of those days.
Starting point is 00:27:09 A good 1%. There have been days we came on this show and would say to you, it's 1%, but it wasn't a good 1%. Today was a good 1% why. My screens are green and I've already scanned. Not a lot changed, but definite bounces and maybe some decent little lows being put in. Notwithstanding if we have a bunch of blowups on earnings, you know, or good reactions, we'll see. The one thing that did stick out today was the Dow was up 314 while the 10-year yield was up 0.83. that's a little different
Starting point is 00:27:47 S&P up 45 NASDAQ 160 NASDAQ 177 Transports out of nowhere they were whacked on Friday and out of nowhere today they were up 400 at one time today
Starting point is 00:28:01 finished up 276 and we always get asked Gary how does the transports drop 300 on Friday but go up 300 on Monday and my answer always is I don't know and if there's anything because I watch the transatlore
Starting point is 00:28:17 transports kind of closely. When you have a chance, I want you to be, you can draw a line under that 14,600, 14,800 area. Hopefully that's trying to put in some sort of low. Because if it breaks below, that would be a bad thing. And then the semiconductors, which are up 49 today, I can't put my thumb on that one yet. And the NASDAQ, which was up 160 today, let's see, the NASDAQ on Friday. Let's see, 13-5-74. It was down 170 Friday, up 160 today. Again, I'm just a log for the ride. The big question is, are we making some higher lows? Is their leadership? So let me throw you some things here. Some things I'm going to ignore some things that stick out. Number one. Lulu Lemon up a big, juicy, $39 today to $416.64. Lulu Lemon tried to break out in early September, and it failed miserably, and now it breaks out to a new yearly high. Lulu Lemon. But the reason why was they were added to the S&P 500, and what that means is all these funds that mirror the S&P 500.
Starting point is 00:29:50 and there's trillions of it have to put Lulu Lemon in there, and that's why they get the pop. Only one problem. We've seen this story before, and the pops usually do not last. I am not saying this is not going to last. I'm saying it was not on earnings. It was not on sales.
Starting point is 00:30:17 They did not come out with some new Lulu Lemon pants. they're being added to the S&P 500. And usually it does not stick. My buddy guild put out a note earlier about, I got to find it here somewhere, about another one that was put out to the S&P 500. Look how I'm in the midst of finding it. I'm about to tell you
Starting point is 00:30:54 Lulu Lemon Airbnb was added to the S&P 500 in September Went from 135 to just tanked So while that is considered one big High volume breakout today We'll see New Yearly highs
Starting point is 00:31:19 We now look at New Yearly highs see what's there. There's not a lot. In hopes, if this is the start of, it's one-up day. But let's assume we get a decent market from here. What stocks are at new yearly highs first? And of course, if they report earnings in two days, there's not much you can do about it. But that's how we roll. So we just sit here. We put up the new yearly high list. There's not many. We know there's going to be some. Oh, there's some oils because oil prices off of what just happened in the Middle East. There's some shippers too. But then there's some, you know what group is acting well? Insurance stocks. So a few insurance names. A couple of retails, Abercrombie and Fitch and American Eagle Outfitters, New Yearly Highs.
Starting point is 00:32:11 Go figure, while I have so many retail stocks absolutely trashed, but not many on the New York. on the NASDAQ, really not many, hardly any. Vertex pharmaceuticals, charter communications, Lulu Lemon we mentioned. That's really it. So if this is going to get better, there will be one very important aspect,
Starting point is 00:32:47 characteristic, if you will. The New Yearly Highlist will pick up and we'll know it, because we're on top of everything setting up to move into new yearly highs. And then we post them on a screen all in one place, and we watch them in real time. And if they start moving out en masse, it'll tell us about the market. If some of them move out and then fail, it'll tell us about the market. Simple as that.
Starting point is 00:33:21 but when all said and done earnings a bazillion companies report earnings in the next three to four weeks it'll be the reactions that matter most and of course the M in market market override sectors with override stocks good day today any flies in the ointment
Starting point is 00:33:49 I hate that cliche Gary get whine that back I didn't say it. Volume. Not much going on. We want to see oomph in the market, ladies and gentlemen, and you measure it by volume. S&P 500. A move above
Starting point is 00:34:09 4378 would be nice. And the 50-day move in average, which be 4402 would be really nice. Russell 2000 though? Just way, way down. Again, it is a big cap market over small cap by miles, by miles. And that has not changed for a long while.
Starting point is 00:34:39 And we really hope you listened. And we really, we get asked all the time about valuation this, valuation that. You know, our only answer is we just follow the bouncing ball. Again, yields are up today. Oil was down today. I praised Joe Biden last week on how he's answered Israel, on Israel. I really like his full-throatedness on Israel. I'm not sure I can praise him too much today.
Starting point is 00:35:22 On cutting a deal to get Venezuelan oil? Wait a minute. We have more oil than Venezuela. What is going on with this ill- The illogical Joe Biden shows his wares again today. I don't get the stupidity. I'll explain.
Starting point is 00:35:48 Up next, on this 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.
Starting point is 00:36:46 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 VentureX card. VentureX offers the premium benefits you expect. Like a $300 annual Capital One travel credit for less than you expect.
Starting point is 00:37:08 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.
Starting point is 00:37:29 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,
Starting point is 00:38:03 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. You're listening to. What are we waiting for? Well, what are you waiting for? One, two, ready, go. Action!
Starting point is 00:38:26 In the Gester's Edge. With Gary Culper. So, Joe Biden today lifted economic sanity. on this mud hound Nicholas Maduro who runs Venezuela, this psychopath, this sociopath, this absolute destroyer of Venezuela and the people. He is plundered and destroyed all hope. That's why they're all coming over here. Joe Biden is now going to allow them to sell their crude. oil to us. What? So let me give you some logic. Number one, their oil is dirty. It's not clean. They suck over there. They talk about oil and clean and clean and this and that. It's dirty oil.
Starting point is 00:39:52 Number two, you're buying it from a guy who has destroyed his country. A Marxist piece of crap. Number three It costs a ton of our money To transport the oil here Why not just produce it here Oh, we can't make the green people upset Wait a minute But you're just going to buy it
Starting point is 00:40:25 Why not just produce it? What did Ford's Gump's For is Gump. Stupid is stupid does? You can't make this up. You can't make this stupid up. You're supposed to tell Nicholas Maduro to go screw himself. And you go tell Exxon and Chevron and Pioneer and just all these companies,
Starting point is 00:41:04 pump more. Now, let's pay Nicholas Maduro. And just so you know, none of that money go to the people there. He plunders it all. So my praise for Joe Biden, which, by the way, on Israel, sticks. And I know there's some questions on Iran. I'm just talking about in the face of these morons at these colleges. And all these, I don't know what's happened in Europe, ladies and gentlemen.
Starting point is 00:41:38 Some of my favorite cities, thousands of people are celebrating murderers. I mean, depravity. I don't even know what to say anymore. it's almost speechless. So I'm going to still praise Biden on that in the face of that. But man, oh, man, the dufficity, dufussity of Biden back on stage today. It's the best way I can put it. You know much oil we have in our Permian Basin in West Texas?
Starting point is 00:42:16 By the way, go ahead and Google the words. how many barrels of oil in the Permian Basin, and it'll come up, oh, 50 billion barrels of crude and 300 trillion cubic feet of natural gas. Now, keep in mind, not nearly all of that is attainable, but man, there's a ton. But let's go buy it from Venezuela. also in the news the republicans by the way Winston is just sitting there looking at me the republicans still have not gotten their act together I'm pretty sure they're going to have no choice in the next couple of days and I think you'll be hearing Jim Jordan the next speaker of the house it doesn't matter they can put Mickey Mouse in as the speaker of the house
Starting point is 00:43:13 our debt is still going a 50 trillion bucks the rep there are a few Republicans that mean business on the debt and deficits, but they are so drowned out by the rest of them. If we ever got 218 gary call bombs in there, the size of government would be down 10 to 15% before you say boo, and there would be balanced budget amendments, there would be term limits. they would not be a sorry I wouldn't either I would not be able to trade stocks because they're inside a trading is ridiculous and the power would be back in your hands not DC but Gary Colpombs investing in trading and hanging out with Winston so that ain't happening I can try an influence with my TV appearances and radio, but we're under the radar.
Starting point is 00:44:22 We'll just do the best we can because ladies and gentlemen, $2 trillion in deficit this year, and it's probably going to be $22, growing more. And they're going to wonder why if interest rates keep going higher. Remember, economics 101, the more debt there is, the more interest rates have to go higher to account. for that debt because lenders demand, demand a higher yield to account for it. It's economics 101, its simplicity. The problem is, I don't think you can get the crap back in the goose. I don't think there's anything that can be done. And I don't think there's any heroes out there.
Starting point is 00:45:09 And if there is, as I said, they are quite the drowned out, unfortunately. I mentioned Lulu Lemon. Costco is close to breaking out. So there's a few names, but few and far between. The hope is, as we get through earnings, things start to bust out, and the two steps up, one step down. I'll take one point one step up, one step down. That would be fine by me. because if you ever seen our webcasts and go through the hundreds and hundreds of stocks that we show in their own private bear,
Starting point is 00:45:53 you wouldn't believe how far down some of these names are. They all bounced a little bit today. Not sure that can last. You'll have a great evening. Drive carefully. When you get home, do like we do. It's quite simple. Make sure you hug your family.
Starting point is 00:46:13 Make sure you hug your children. They will feel better. You will feel better. I promise. I'm not sure TV tomorrow. Check out Fox Business. I'll be there somewhere. Peace out all.
Starting point is 00:46:23 Have a great evening. Bye, bye. 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 GaryK.com. That's GaryK.com. 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.
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