Investor's Edge with Gary Kaltbaum - Froth And Speculation Part 2!

Episode Date: August 9, 2022

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

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Availability varies by zip code and package. All by lap US only up to three concurrent streams. MLB trademarks used with. permission. Investor's Edge with Gary Coltbaum. Straight talk about you and your money. Now from the Biz Talk Studios, here is Gary Coltbaum. And welcome once again to Investors Edge. I'm Gary Coltbaum, your host day. Thanks for being with us today. Glad you here, ladies and gentlemen, happy that you are listening. It's, you know, August something, rather. Oh, that's right. It's August 9th. You know how I know that? It's my son's Aaron's birthday. Aaron, Matthew, Coltbaum.

It's his birthday today. He's 31. I don't know where the freaking years went. So my message to you parents, you better cherish and love every second of it because I was told when my kids were young, it was very fast. They weren't lying.

It just goes and goes and goes. Remember, we used to do on this show for my kids' birthdays when they were 8, 9, 10, people used to call and sing happy birthday and the best rendition would get prizes and stuff like that I don't know where the time went I feel like I've lost a decade or two

and anybody who knows me knows I'm in shape I look like a 21 year old athlete but age still anyway so big happy birthday to my son from starters ladies and gentlemen okay okay

okay notice that a little bit of silence as I segue into something else, we have been warning you for the last couple of weeks that out of nowhere, some weird craps happening in markets and just, what did we even say to you yesterday? I think a few times we said, be careful. Just be careful. No, just be careful. we had told you yesterday on this show. We don't know how it happens. We don't know where it comes from.

We just deal in reality. And we also deal with, we know what the ultimate outcomes are. And what are we talking about? Just the most massive, massive froth and speculation I've ever seen in history. and that counts what we saw in the last year. That includes all the nonsense we have seen in the last year. We highlighted for you a stock, a Hong Kong-based whatever they do doesn't matter. It's showing $24 million in revenues.

IPO at 7.3 quarters opens at 15, goes to $2,550. $655.5 in days. In days. And we did the show from Europe when it closed at $1,679. That was just on $8.2. Six trading days ago. It closed at $1,679,

up from 7.5 IPO just days before. It's already back to $212 down another 193. dollars today. So in one to five days it went from 2555 down to two hundred and twelve at the close today. And it's going back to where it came from and unfortunately you can't short any stock and you really can't buy either. The spread in the stock was ridiculous all the time and for the life of me I have no idea. Absolutely no idea how this happened. But that's not even the one I even want to talk about. Because we brought up another name to you yesterday, symbol M-E-G-L, another Hong Kong-based. This one is really

showing no revenues. A $4 IPO on Friday. opens at 49, goes to 236 the same day. $4. Closes at 97. At the high, this is two days ago, of $236 bucks, this M-E-G-L, this 20 million shares outstanding, times it by $236. $4 billion, with no sales? What the hell's going on here?

That didn't stop it from yesterday, yesterday, going from a low of 86 to back to 250 again before closing at 117. That's a $4.00 IPO. And what did we say to you yesterday? Just be careful. We're not going to tell you what to do, how to do it. We're just going to tell you they're all going to go back where they came from. M-E-G-L today dropped 89%. Dropped $104.68 to $12.32.

And I'm going to make a point in a second. And there's another one, AMTD. Hong Kong, again. Don't know what the hell's going on in Hong Kong, but that stock romped from a buck to 13. It's back to $2.36. And then yesterday they started getting the old short squeeze stocks. And what did we say to you?

Be careful. Let's all be careful. Bed bath and beyond. Goes from six up to 12 in two days. On a $2.83 loss. Hit a high yesterday of 1334. It was down 14% today. Not as bad as MEGL.

GameStop was down 9. percent today beyond meat was down AMC was down just be careful we really do not know what the hell's going on here with these markets with this froth and speculation we do know one thing though and I want you to listen carefully no matter what we're still going to watch price and volume and patterns and leadership to stay on top of things no that this other stuff is in our file manager. Meaning just because this froth and speculation doesn't have to mean something else. We're just letting you know we have never ever seen, I haven't, bottoms in bare markets being

accompanied by froth and speculation. And now we have the most massive froth and speculation I have ever seen in just a couple of these names. So just keep that in your file manager. It doesn't have to mean anything. It just has a 100% track record. Let me repeat, though, we're still going to pay attention to the market itself. And as you know, we're pretty decent with the roadmap. I'm stunned. I'm stunned.

I'm stunned. This is not normal. A $4 IPO going up to 250 in two days in best. Act of 12 a day later. Again, an outcome of government policy that created all this. So again, keep this in mind. If you're ever able to catch one, change your life. Good luck at that. Our goal here is just to keep your eyes wide open and feed on the ground. because maybe somebody bought MEGL yesterday at 250. And may I say for the record, in order to get to 250, somebody had to pay that price.

You know how we make fun of the ass clowns who say that Bitcoin's going to a million? And they are ass clowns. I'd say it to their face. That means somebody would have to pay $999,99.99. Remember that. Up next. We got lots more. I'm Gary. This is the one only Investor's Edge. Hi, I'm Gary Kalbaum, hosted a nationally syndicated radio show Investors Edge.

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where, oh yeah, you know, I just have a stomachache every day. Or I'm constantly feeling like gassy. And all of those things are not something that generally if you have a healthy gut, you should be living with. So that's when we deep dive. We deep dive into your medication. We deep dive into your OTC medication. And then at that point we can probably identify something that we can change. Hear the full conversation, plus some fascinating facts about how gut health affects so much more than just your stomach on Beyond the Script, a podcast from CVS Pharmacy and IHeartRadio. Listen now wherever you get your podcasts. Success starts with your drive, and American Public University is here to fuel it. With affordable tuition and over 200 flexible online programs, APU helps you gain the skills and confidence to move forward.

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The last bastion of quality programming. With Gary Coltbaum. It doesn't get better than... is. And welcome once again to Investors Edge. So yesterday we also said to you that market's getting a little distribution, probably get a pullback, a lot of bullishness. And we had some of that today, not the end of the world type stuff. And we hear that tomorrow, the most important inflation number in the history of the world is coming out. I don't know. We got a PPI or CPI or P. I don't know what the heck's coming out, something's coming out. Now, we've already told you all these

commodities have dropped precipitously. Precipitously, precipitously, you've got to believe that the inflation numbers should be better. I think if commodities have anything to do with anything, the price of lumber is way down, the price of wheat is way down. The price of soybeans, not way down but still down. The price of corn pretty nicely down. The price of copper way down. The price of cotton, pretty decently down. And of course, the price of oil.

Pretty nicely down. Now, is that good for the market tomorrow? Well, we've been told. that inflation going up is bad for the market. Inflation going down should be good for the market. Well, the market has been better as interest rates have come down, as oil prices have come down. So we'll see. That'll be tomorrow before the open.

And interesting enough, the administration, who pretty much are loud mouths, haven't said a word. in the past they have telegraphed bad news that they already knew and just know that any administration will get economic reports days in advance so i would guess it's going to be a less inflation number i have no idea how the market's going to react to it we shall see but that's for tomorrow for today just remember how we started the show holy crap that's all I got to say

seriously holy crap I don't know what to make of it if push came to shove I'd say oh this market's going to crash again but now we're just going to deal with what's in front of us

and not let ourselves get too far ahead. That's all. But holy crap, the most frothed speculation I've ever seen. Next. I hope you don't mind that I segue. As you know, I am no Donald Trump fan. I measure people on whether I would want my kids to look up to that person. I would not want my kids to look up to this man. But that's neither here nor there on what I'm about to say. We'll find out in time what the FBI's got going on him, why they went into his Mar-a-Lago and did what they did.

I know you know what's going on. It's big-time news. that the FBI went in and took a lot of things out of there. Let me just state for the record. My opinion. Interesting, they didn't do this to Hillary Clinton when she took a crap load of stuff on hard drives. And this is known fact.

Interesting. True Secretary of State. Interesting. I'm just bringing that one up because I believe the Clintons are nothing but a bunch of influence peddling corrupt sleaze bags that had only one thing in their mind and that's dollar signs and they did a great job of it. God bless them. They made, what are they probably worth a couple of hundred million?

Influence peddling. Hope they're proud. Not to mention him, one of the bigger sleaze bags on earth. So as no fan of Donald Trump, Boy, this smacks Like a lot of BS. Not that there's nothing there, but they went in.

They went in. It doesn't happen. Doesn't happen to ex-presidents. It would be normal to negotiate this. Talk it out. Get your attorneys together. Give a notice. Don't remove anything. And this is what we want.

Nope. You can call it a raid or whatever. It's just another rules for one side, different rules for another side. That said, we'll see what comes of it. We'll see what comes of it. Maybe there's something there, maybe there's not. I just know how things work in D.C. Biden say they were surprised by it. Horse crap. Everything's known from the top. So again, we'll see how it plays out.

I'm very interested to see what they're doing. If it turns out what this was, was the ex-president taking records, knowing that every ex-president has taken records, then it's a bunch of BS. Next, since we're dealing with this, 87,000 IRS people, they're hiring. Interesting. They're not hiring border agents, IRS.

I wrote down two words today coming from the press secretary who represents the president. She used the word on several occasions, corporate tax cheats. Up next. Corporate tax cheats. And then full markets. This is the one only investor's edge. Hi, I'm Dr. Jay Goodman, host of Beyond the Script, the podcast where I sit down, pharmacist to answer the health questions you didn't even know you could ask at the pharmacy counter. In this episode, we are diving into gut health with CVS pharmacist Victoria Motola, who explains why so many of us live with stomach issues we should not accept as normal. A lot of what I see is just like chronic bloating, chronic stomach aches.

Like I get a stomach ache every time that I eat and it just becomes like a lifestyle where, oh, yeah, you know, I just, I have a stomach kick every day. Or I'm constantly feeling like gassy. And all of those things are not something that generally, if you have a healthy gut, you should be living with. So that's when we deep dive. We deep dive into your medication. We deep dive into your OTC medication. And then at that point, we can probably identify something that we can change.

Hear the full conversation, plus some fascinating facts about how gut health affects so much more than just your stomach on Beyond the Script, a podcast from CVS Pharmacy and IHeartRadio. Listen now wherever you get your podcasts. Success starts with your drive, and American Public University is here to fuel it. With affordable tuition and over 200 flexible online programs, APU helps you gain the skills and confidence to move forward. Whether you're changing careers, starting fresh,

or pursuing a lifelong passion, our programs are designed for people who never stop. You bring the fire, APU will fuel the journey. Learn more at APU.APUS.edu.edu. What do this animal... And this animal? And this animal? Have in common?

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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

with Gary Colbom comes highly recommended you're going to feel better if you talk to so let me just finish this up people

this administration Joe Biden who has voted for 29 and a half trillion of a 30 trillion of debt and you can just read up about the Hunter Biden and him together and what they have done. They believe Americans are cheaters.

Sit on that. You got that? They believe, just so you know, they're telling us they're going to pay for this bill with money from tax cheats. That they're going to garner billions and billions of dollars from tax cheats. this who is running the country and what they think of this country. Your tax cheats. And the more you make, the more you cheat. So we're coming after you.

I should have been a journalist because every administration would have people kicking my rear end for asking the right and tough questions. I didn't hear anybody asked, so you actually think Americans are cheaters. right is that what you think of americans they're cheaters they're thieves because i got news for you you're letting a bunch of shoplifters off guy was arrested 130 times in new york city you let them off the hundred and thirty first time so why you're going after these you get my point they're insane and they're running the country we will keep watching this I would say the only good news it's going to take a long time to hire 87,000 people.

And by the way, as I said yesterday, I believe the IRS gets a bad shake. I don't think they're bad people. I think they go to do their jobs. And if they find somebody cheating, hey, so be it. But I wonder when some bad people hire people, what is their goal? what is their dictate. And when I say bad people, the people that came up with this latest con

of taking money out of our hide and putting it in their coffers. I would say this to Joe Biden's face, by the way. And the fact is he wouldn't be able to answer my questions. So just letting you know this is going on. All right. So yesterday, we said, may have hit a little bit of a wall here.

We'll see what comes of it. We're not thrilled with the froth and speculation. We don't know what it means. We're getting past all the earnings reports. Bad earnings were bought up. Bad sales were bought up. Apple minus 8%, Amazon 20 cent loss and go on and on. And those are the biggies.

Carvana with $2 a share loss, rallies up and we asked the question well wait a minute you know maybe the fact that they dropped 80% that's it we'll see we'll see and we'll leave it at that we'll see we can tell you today was not a great day and a lot of these things that bounced recently off their lows with not so great numbers got hit today and i will tell you something else happened to remember i said to yesterday boy retail had a very good day and i noted that dillard's was up like 20 bucks yesterday. It was down more today than it was up yesterday. They came right back after the retail today in a very big way and I'm thinking to myself, what the heck is going on with these

markets? Very tough to get the big picture right when you get wide swings, wild swings, but we'll continue to put in our best efforts. It was a wicked day. And what happened today? well let me just let you know the latest was micron to warn that's after nvideo warned that's after amd worn and that's after intel warned so four semiconductor companies and guess what the socks today was down 137 points it was down at one time let's see 2832 was down about 170 so two icky days on the semiconductors and we're going to watch them closely why because you know what i think of the semiconductors they're an important cog in the wheel and we're just getting warning after warning after warning now

and interesting enough on the semiconductor say let me just lamb research was down 40 today was down 50 at one time that's a big 40 8% KLA 10core was down 8% 29 bucks today ASML holdings ASML is the symbol down almost 6% down 31 bucks a broadcom today was down 13

not as bad as others but still icky we'll see and then there were others slab SLAB which acted well on its earnings down nine today or six percent and by the way technically not good moves today NXP Semiconductor down nine today rolling on we call that a little bit of a rollover, just not a good day for the semis.

Terrible day for the retail. And we say that because it had a good day yesterday and they just rammed it right back down. And something like a Signeut Jewelers, SIG, down 12% today on their numbers, on heavy volume. So we're just kind of sort of reporting the news. Burlington down eight, Costco down six, Dillard's down 19, Decker's. Outdoor, down eight. Five below, down seven. Floor and Decor down six.

Lowe's down seven. Home Depot, down seven. Lulu Lemon, 10. Restoration hardware. We're starting to act better. Up, down 14. Pool, down 12. William Sonoma, remember about a good day?

Yes, eight. Down seven today. Giving it all back. They best have a good inflation report tomorrow. Just not a great day today. advance declines on the NASDAQ 12 to 31. We'll see. We're open to all outcomes.

Right now, we'll call it a pullback, and we got some clues. We told you that we're worried about the froth and speculation and just hitting the wall on Friday. We'll see what tomorrow brings. On the most important inflation report of all time coming out. So today's market wrap brought to you by Investment-Models.com. That's Jim Rohraback, one of the great markets.

timers. No gray areas with the man you're either in or out of the market. What is proprietary indicators. Go check it out. Investment dash models.com. Dow only down 58, but the S&P down 17, but the NASDAQ down 150, NASDAQ 100, down 151, and the socks down 137. That was juicy. Transport's down 126. As we mentioned, advanced declines, not very good. And more new lows than new highs on both the New York and NASDAQ. I don't want to go much further than that because I'm kind of after this little icky two days. I'm kind of agnostic. We'll see what Tamara brings. But those semiconductors, they better resolve better. And I also want to add Tesla. Down another 21 today. I'll leave no doubt a little near term high three days ago. And I'm just reporting the news on that.

I didn't predict that. Didn't see it. I still believe Tesla's like that number one risk on bigger name out there. So you don't want to lose that. We'll see. So just letting you know is less than thrilling day. We'll let you know if a real firm top is in after this rally up.

That has a bunch of people that were never bearish on the way down telling you how good they are because we've rallied back up some. I love people. They can never say I was wrong because they're always bullish. Up next, more in the markets.

This is the one only investors' edge. Hi, I'm Dr. Jake Goodman, host of Beyond the script, the podcast where I sit down with pharmacists to answer the health questions you didn't even know you could ask at the pharmacy counter. In this episode, we are diving into gut health

with CVS pharmacist Victoria Motola, who explains why so many of us live with stomach issues, we should not accept as normal. A lot of what I see is just like chronic bloating, chronic stomach aches. Like I get a stomachache every time that I eat. And it just becomes like a lifestyle where, oh, yeah, you know, I just, I have a stomach ache every day. Or I'm constantly feeling like gassy.

And all of those things are not something that generally, if you have a healthy gut, you should be living with. So that's when we deep dive. We deep dive into your medication. We deep dive into your OTC medication. And then at that point, we can probably identify something that we can change. Hear the full conversation, plus some fascinating facts about how gut health affects so much more than just your stomach on Beyond the Script, a podcast from CVS Pharmacy and IHeart Radio. Listen now wherever you get your podcasts.

Success starts with your drive. An American Public University is here to fuel it. With affordable tuition and over 200 flexible online programs, APU helps you gain the skills and confidence to move forward. Whether you're changing careers, starting fresh, or pursuing a lifelong passion, our programs are designed for people who never stop. You bring the fire, APU will fuel the journey. Learn more at APU.APUS.edu.

Today, we're exploring deep in the North American wilderness among nature's wildest plants, animals, and cows? Uh, you're actually on an Organic Valley dairy farm where nutritious, delicious, organic food gets at start. But there's so much nature. Exactly. Organic Valley's small family farms protect the land and the plants and animals that call it home.

Extraordinary. Sure is. Organic Valley. Protecting where your food comes from. Learn more about their delicious dairy at ov.c.o-op. You're listening to... What are we waiting for? Well, what are you waiting for?

One, two, ready, go. Action! In the guesters' hair. with Gary Culper. And welcome once again to Investors Edge. Serious talk on you and your money with a little comedy injected every now and then, but we can't really have too much comedy these days because there's so much crap going on, kids. And we appreciate all your emails.

Everybody is so kind to us these days. The great news is, you know, we used to some nasties, but due to the fact we respect everybody in their opinions, even if they're completely different than ours. Because the way the cookie crumbles, you know, we're getting some good, healthy debate in emails and thoughts. And that's good. That's good to see.

We've converted some socialists trying to let them explain that. These people in government that are socialist and Marxists, they're only socialist and Marxists with our money in our lives. So it's their money in their lives, They're just beautiful capitalists, all making millions and millions and millions of dollars. You've got to remember all that. And people are getting it now. And there's nothing free.

Remember that? And if everything becomes free, you end up with none of it. You remember that too, right? You know what happens at 7-Eleven when they have their free slurpy day? They run out because it's free. Just remember all that. So when a politician comes you and tell you it's free, they're lying. And tell them that you're a liar.

Somebody pays for it. Somewhere along the food chain, somebody pays for it. It's a fact of life. And they've messed so many things up, I can't even begin to tell you. You know, the student loan things. Think about it. Hey, student loan, we're just going to give it to you. even though we know we're going to give you a quarter million bucks for your college,

but you want to be a teacher, and you're never going to be able to pay it back as a teacher. But we're going to do it anyhow, and then you complain to us that you're never going to be able to pay it back, but we gave it to you. Oh, and by the way, the college, since everything's guaranteed, is going to charge you, you would not believe what the tuition is going to be, and they're going to raise it every year.

Why? Because they get a guarantee. Remember, good policy is incentivizing good behavior. Bad policy is incentivizing bad behavior. It's pretty simple as that. Actually, the best policy is just staying the hell out of the way. So when we tell you so many things are backwards ass, we mean it. And they just made it worse with this latest bill.

A great con. They're so good at looking right into the camera and just lying to you. They're great at it. They're telling you they're going to pay for this bill because they got all these IRS people to go after the tax cheats. But don't worry, it's only the billionaires. We're not going after anybody else. But there's only 600 billionaires. And you know what billionaires have?

A lot of money. You know what they do with a lot of money when they come across going with the IRS? Oh, they got a lot of lawyers. And they got a lot of accounts. and you know what they do? They string them along for years and years and years and years. And you know what happens? Nothing.

So all this talk about raising all kinds of money to pay for this, nothing. You know what billionaires also have with those accountants and attorneys? They know every tax loophole in the book. Those loopholes were created by Joe Biden. and his buddies through the last 50 years. But now those loopholes are bad, even though they're the law. You getting me here?

You ever seen more people, more full of crap in your life? It's a circle of nonsense. Look how we just simplified it for you. I've been watching others try and explain it in one minute we simplified it for you. They ain't going to erase squat from the billionaires. Not a freaking dime.

thus the con but they were able to have another spending bill and a supposed tax bill you know who they're coming after every one of you because that's where the money is the unprotected people that don't have all the accountants and attorneys

and the wherewithal to string them along that's how it works why do you think 87,000 87,000 You know what all the money is going to be spent on? The training of those 87,000. Look how easy it is for me to simplify.

It's Mr. Logic. And they called Trump a fascist. Go look up the word fascism. This administration's picture should be up there just for this bill, let alone other crap. Anyway, I digress. So, definite distribution in the market over the last couple of, the days. There's a, hmm, there's a, I don't know if you know this, but I kind of work hand in hand with a couple of the smartest people on earth with the markets. Just letting you know,

they yesterday said, we thought we had an inflection point of unknown time and price because you never know. And so far kind of sort. here's what we're going to be watching now. And it's front and center on our screens. Number one, the semiconductors. If they keep gagging, it's not going to be good news. Number two, a lot of this move off the lows has been all these bombed out technology type software stocks that drop 50, 60, 70, 80 percent. They're getting some distribution the last couple of days.

If I'm able to start saying this one's breaking down, that one's breaking down, this one's breaking down, this one's breaking down, that's going to be some more. more trouble, not thrilled with the retail today. It's getting a little lick of you're out there, hoping for better. You have a great evening drive carefully. When you get home, do like we do, make sure you hug your children. It's my son's birthday. Wish him a happy birthday. We'll have a big webcast tonight on all this, especially the speculative froth.

And until tomorrow, we'll be on with who are we on tomorrow? Charles Payne, 2 p.m. Fox Business Network. And same time tomorrow right back here. Have a great one, everybody. appreciate you listening. We're dead serious about all this. Hope you are too. Bye-bye all. This has been Investors Edge with Gary Cult Bomb on Biz Talk. To listen to past episodes or to get in contact with Gary, go to GaryK.com. That's GaryK.com. Today's episode was brought to you by Simple Mills, the feeling of the sun in a delicious snack. From their tasty crackers to their

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