Investor's Edge with Gary Kaltbaum - Inflection Point!

Episode Date: July 20, 2023

garyK.com or https://garykaltbaum.com/...

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Starting point is 00:00:00 Hey, it's Ryan Seacrest for Albertsons and Safeway. It's stockup savings time now through March 31st. Spring in for store-wide deals and earn four times of points. Look for in-store tags to earn on eligible items from Celsius, Body Armor, ORAIDA, Silk, Capri-Sun, Bavarian Meets, and Charmin. Then clip the offer in the app for automatic event-long savings. Stack up those rewards to save even more. Enjoy savings on top of savings when you shop in-store or online for easy drive-up and go pick-up
Starting point is 00:00:27 or delivery. Restrictions apply. See website for full terms and conditions. Investor's Edge with Gary Cultbaum. 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 day.
Starting point is 00:00:47 Thanks for being with us today. Glad you here, ladies and gentlemen. Happy that you are listening. I think it's July 20th, 2020, 23. Hope you're having a good day. I'm having an okay day. The back. better, but something I have to tend to. The good news is, my posture is so much better. I'm
Starting point is 00:01:13 stretching every day like I should have been beforehand. The doctor swears. I have no disc issues, no nerve issues yet, man, oh man, when it hits. And the good news is it's only hit a few times over the last few weeks, but it's there. And I'm pretty sure it emanates from my old tennis injury that's all tight and I'm just trying to work it out I did some PT what it's today there yes was yesterday either way and stretch me the wrong way and the big outch but good day today and I hope you're having a good day and we have lots to cover ladies and gentlemen we're always saying to you in the markets if things change we'll let you know we've said to you, we use the three words, change of complexion.
Starting point is 00:02:10 In other words, on June 2nd, the day before, and the day before that, we said there may be a change of complexion going on in the broad market. We're not sure yet. And Thursday was a good day, but not good enough for us. and then Friday that June 2nd, that was when we said we thought the broad market got out of its coma. And since then, the broad market doing pretty darn well. That's what we mean by change of complexion. During that time, we've talked about how recently the financials better, energy better.
Starting point is 00:03:01 And keep in mind, these are no leading growth groups, but that's where the money started flowing. The airlines and the cruise lines and the transports. And just in offer earnings in the last few days, the managed care stocks, which were toast. I mean, just vertical moves on earnings. Whether or not it stays, we don't know. Nothing's 100%. when we say something to that effect, nothing is 100%, you don't know. But when we look at markets, we look at what we call the opportunity for something to happen.
Starting point is 00:03:50 In other words, if something is in a stiff up trend, a definable uptrend, until that uptrend starts wobbling, at least starts wobbling, I can't come out and say there may be a change of complexion coming. But once it starts wobbling, we can start yapping. The other part of the equation is,
Starting point is 00:04:28 well, let's say there is a sector. And there's 50 stocks in that sector. And 30 of them are already crapping out. but 20 of them are in shape and seven of them are really big so it makes that sector look better than it is. Well, what happens when they get the 20? Change of complexion. So we're just letting you know there's a decent opportunity. We already know about the money flows into the broader market, the more boring lower beta areas.
Starting point is 00:05:10 But until today, what about the higher beta, growth, tech, software, and the like? Well, today, the opportunity is there that it hit a stiff wall. I don't think we can do this in one hour, but we'll attempt to. Not 100% sure, as we said, but little weight of the evidence has potential. a pretty good change of complexion at hand. Let me explain in two numbers. The Dow was up 163 today. The NASDAQ 100 was down 360.
Starting point is 00:06:10 The equivalent of 800 some odd Dow points. That's what we mean. The socks, the semiconductors, were down a juicy 137 points. not the end of the world but we look at patterns we look at ability
Starting point is 00:06:35 and then we go underneath the surface and as we said with the semiconductors there's about a hundred names we look at there are quite a few and some important getting in trouble on a technical basis so what do we say
Starting point is 00:06:51 the opportunity could be at hand let me repeat the NASDAQ 100 was only down 2% plus today. Let's call it 2.3. NASDAQ was down, let's call 2.1. Doesn't sound like the end of the world. But there's a couple of things we also recognize.
Starting point is 00:07:17 How popular have been these areas? Extremely. What do they get? Overowned, overloved, over leverage. You know the line we over. use if things turn the wrong way what happens to over owned over loved and over leveraged you get where we're going again we're not making any comment to say look out we're saying the opportunity that the complexion has changed at hands let's start with a few
Starting point is 00:07:58 things Tesla so Tesla today and by the way I think it's number four in the NASDAQ 100. It opened up at, let's call it around 280, was down about 10 bucks. It finished down 29. I don't need to go what they said. I'm just letting you know it finished down 29 today. That's all. Netflix finished down 40. Now in case you don't know, these have been stocks that have been part of the bigger cap, mega cap type move. And maybe this is nothing. Listen carefully, I'm saying it slowly. Maybe this is one day.
Starting point is 00:08:48 But then we scan everything else and we go through everything else. And we're just noticing that after that, we go into the semis and we notice advanced micro devices breaks the 50-day moving average. We go back to Google. Google breaks the 50-day moving average today. Then we move over to ASML Holdings. An important semi cracks the 50-day, and in fact is down about 80 points in two days off their earnings reports. And then we go to the next name and the next name and the next name and the next name and the next name.
Starting point is 00:09:25 And we're just noticing got some distribution today in Techland. And we've yet to do our scans, but we've noticed also some lost stocks. I'm not going to name this one, but it broke out at 550, went to 590, and in two days it's back to 529, and volume very heavy on the cell side. For example, and the more names I can find that do that, especially if they're all in the same areas. Something like an SAP. Do you know what they are, right?
Starting point is 00:10:12 That's a German software developer, very big company. The stock has been trending quietly slowly over the last few months. They reported earnings midday today. Forget what the numbers were. The stock was down on double volume, nine bucks, cracking through failing the recent breakout, and cracking through some support it's only a big software company so we're just going to say again there is an opportunity that maybe this whole area of tech not all we're going to start measuring
Starting point is 00:10:52 what's holding up best and stuff but maybe we're going to start heading back to the norm maybe the opportunity, and that means some pulling back. Up next, the other side. I'm Gary. 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.
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, we'll 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,
Starting point is 00:12:10 call us to make an appointment for a complementary portfolio review. The number to call is 888-4-22-559. That's 888-4-22. 5559. That's 888-422-5-5-59. Investment advisory services offered through call bomb capital management. Hello, hello. I'm Malcolm Gladwell, host of Smart Talks with IBM. I recently spoke with IBM's new director of research, Jake Embatta. We discussed his vision for the future of quantum computing. At IBM research, what we always do is answer what is the future of computing, whether it's coming. up with new algorithms, coming up with better AI, coming up with quantum, or coming up with
Starting point is 00:13:00 just how do different accelerators go together? It's our DNA to answer the question of what is the future. Isn't it a perfect problem for IBM because you kind of need to have a legacy of building stuff? Yes. Building actual physical machines. Yeah, it's why I came to IBM. I wanted the experience, the culture of building hard things. that others have not done before. Where do you imagine we are in the timeline of this technology? There will come a point when it will mature.
Starting point is 00:13:33 Right? My cell phone is a mature technology at this point. How far are we from that point with Condon? By 2029, we'll build the first fault-tolerant quantum computer. That is one that can run a very, very large, large problem. To learn how IBM is building the future of computing, visit IBM.com slash quantum.
Starting point is 00:13:59 Hey, it's Ryan Seacrest for Albertsons and Safeway. It's stock up savings time now through March 31st. Spring in for store-wide deals and earn four times the points. Look for in-store tags to earn on eligible items from Celsius, body armor, or Ida, silk, Capri-San, Bavarian Meats, and Charmin. Then clip the offer in the app for automatic event-long savings. Stack up those rewards to save even more. Enjoy savings on top of savings when you shop in-store or online for E-Card.
Starting point is 00:14:24 drive up and go pick up or delivery. Restrictions apply. See website for full terms and conditions. It's time to switch on the integrator units and get the brain cells working. You're listening to. Hey, this promises to be fun. Investors Edge. The last bastion of quality programming.
Starting point is 00:14:46 With Gary Coltbaum. It doesn't get better than this. So, and welcome once again to Investors Edge. Thanks a good for us today. This is a serious talk on you and everything that affects you with a little combing injected when we need to and we're quite comedic may i state for the record the dow is up 160 today while the nasdaq's down 360 what gives johnson and johnson on earnings up nine dollars and 64 cents Goldman sacks on their terrible numbers up 10 today money flowing into these things that have been
Starting point is 00:15:32 downtrodden a bowing up five today has been flatlining for six months. IBM, on their nothing earnings and revenue was up $2.90 today. McDonald's has a very good chart pattern, up almost three. Travelers up three. That's been a dead insurance stock. And really, hardly anything down. Apple's still holding up pretty damn well.
Starting point is 00:16:05 That was only down a buck. Apple being down only a buck 90 with the NASDAQ 100 down 360s, probably a miracle. But as I look at my screens, just letting you know, you had the fine, not everything, but financials are up. What was not up was Discovery Financial. Stock was down 19 bucks that ate at 102 on four and a half times average volume. That's a financial, but what else was up to? today? Consumer staples. Get to that in a second. Some medicals were up today. Some oils were up today. Some defense stocks are up today. Drug stocks are up today. A manch care is medicals. So if we call commodities were green, nothing big, but we're still green with the NASDAQ down 360. So that is money flowing from here to there. And as I started to do a little bit of scanning, I noticed something.
Starting point is 00:17:12 As I was scanning what I thought was getting in a little bit of trouble here, I scan the XLU. What is that? Utilities. What is that? Very defensive. That may be turning up. I scan the XLP. These are ETS.
Starting point is 00:17:29 That is consumer staples. That broke above a little bit of a range today. What a consumer staple? defense we know about the banks but we think that has more to do with the fact that they were absolutely trashed and they're in recovery mode some of industrials types better though they were off the high stay i know one here's a blow up snap on down 21 bucks today to 272 on one and a half times average volume that got whack today and of course we have a bazillion earn earnings to come. So a decent chance here. We are now going to be in a moment where money's going to
Starting point is 00:18:19 flow out of what everybody's been talking about and continue into this broad market move. And that's including financials that are still way, way down from their highs from the Silicon Valley Bank incident. I guess we can call it an incident. So just letting you know, and when we say the complexion may be changing and this can pull back, I would tell you this. If the NASDAQ decides to pull back, it closed at 14.063. If it decided to pull back, let's call it 136, 13.6, 135. more percent that would be normal because it was up in what we call the trees and it's been there a while
Starting point is 00:19:20 again nothing 100 percent and guess what apple hasn't reported yet amazon hasn't reported yet google hasn't reported yet microsoft hasn't reported yet facebook hasn't reported yet oracle hasn't reported yet amd hasn't reported yet adobe you get my point but just A, the reaction to Tesla, Netflix, which by the way, have nothing to do with the semis. B, the move at the semis today. And just, you know what else I'm saying? You had a lot of names in software, try to move above range. They all tuck their head in like frightened turtles today, and some of them just plain all broke down.
Starting point is 00:20:07 I mentioned airlines, cruise lines, though some of them are getting a little bit on the iffy also. UAL was up a buck 60 today on earnings so just letting you know we're not telling you what to do how to do we're just letting you know what we're seeing that we may be at a moment and again it would be pretty normal except when they do these things they are harsh if you think about it asml holdings closed at 676 today it was 756 two days ago 80 bucks off earnings And of course you got Netflix down 9% today. Tesla down 10% today. That's no fun.
Starting point is 00:21:03 So tomorrow's another day. Nothing reporting as far as big tech in the next two days. I think there's more next week. And we'll stay on top of it. Just a very icky, icky, icky technology day. What else they did today was the housing stocks. Just so you know, D.R. Horton, D.H.H.H. reported earnings and the stock was up four bucks pre-market then it was down for bucks
Starting point is 00:21:30 pre-market finished only down to but they kind of hit the housing stocks today pretty good pulled that back and guess what the housing stocks have been very extended off their move so we're getting more than likely some sort of little changing of the guard here again I gotta say that again and it's not hedging with just telling you how we feel changing of the guard to a certain extent and we can't tell yet if it's going to be really bad or not you really can't tell day by day and as I'm sitting here looking and just thumb it around yeah they're cracking a few things pretty good taking out some multi-month moves would be an interesting scan tonight I'll probably do a double
Starting point is 00:22:30 And that's the story. High beta to lower beta. Institutions offer a little bit of risk on into the more risk-off type of things. How long that lasts, how far it goes, have no clue. Simple as that. Any questions? Great. The market wrap is brought to you by Investment-Models.com.
Starting point is 00:23:03 That's Jim Rohrabck, one of the great market timers. No gray areas with the man you're either in or out of the market. It's proprietary indicators. Go check it out, investment dash models.com. We'll have the numbers up next. And much more. This is the one to only investors' edge. Hello, hello.
Starting point is 00:23:37 I'm Malcolm Gladwell, host of Smart Talks with IBM. I recently spoke with IBM's new director of research, Jake Gambata. We discussed his vision for the future of quantum computing. At IBM research, what we always do is answer what is the future of computing, whether it's coming up with new algorithms, coming up with better AI, coming up with quantum, or coming up with just how do different accelerators go together. It's our DNA to answer the question of what is the future. Isn't it a perfect problem for IBM because you kind of need to have a legacy of building stuff?
Starting point is 00:24:12 Yes. Building actual physical machines. Yeah, it's why I came to IBM. I wanted the experience, the culture of building, are things that others have not done before. Where do you imagine we are in the timeline of this technology? There will come a point when it will mature. Right?
Starting point is 00:24:35 Yeah. My cell phone is a mature technology at this point. How far are we from that point with Conton? By 2029, we'll build the first fault-tolerant quantum computer. That is one that can run a very, very large, large problem. To learn how IBM is building the future of computing, visit IBM.com slash quantum. Hi, I'm Dr. Jake Goodman, host of Beyond the Script,
Starting point is 00:25:06 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.
Starting point is 00:25:28 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 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.
Starting point is 00:25:48 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. Hey, it's Ryan Sechrest for Albertsons and Safeway. It's stockup savings time now through March 31st. Spring in for store-wide deals and earn four times of points. Look for in-store
Starting point is 00:26:21 tags to earn on eligible items from Celsius, body armor, or aida, silk, Capri-sun, Bavarian meats, and Charmin. clip the offer in the app for automatic event-long savings. Stack up those rewards to save even more. Enjoy savings on top of savings when you shop in store or online for easy drive up and go pick up or delivery. Restrictions apply. See website for full terms and conditions. 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.
Starting point is 00:26:59 It comes highly recommended. You're going to feel better if you talk to him. And welcome once again to Investors Edge. As we said, the market round. Dow is up 163. Think of everything's fine, right? Think about this. With the Dow up 163, the S&P 500, was down the equivalent of about 250 Dow points.
Starting point is 00:27:42 It was down 31. NASDAQ 294, NASDAQ, 160. Transports are only down five. advanced the clients 1523 on New York 1427 on the NASDAQ and just I have one screen of all these let me put it this way let me let me let me just give you symbols here one screen one column ASML A MAT AMD E and they got whack today and some of the technical conditions may have changed may have can't go further than that i'll give it a may have changed while money be flowing elsewhere as we stated and again we don't want to really go further than what we are saying at this
Starting point is 00:28:47 juncture there are moments in times where we will say to you that is one big juicy top we're just prepared to say there's an opportunity here for something more than just a little poo back. Opportunity. Remember, they can't send them down if they're in uptrends. They first got a top. They first got to show. Same with bottoming. They first got to do something.
Starting point is 00:29:33 They first got to set up. up a certain way. So again, just letting you know, don't pay attention to the Dow today. Now, I've been always told by some of my mentors, when growth gets in trouble and the money flows into the lower beta type stuff, that eventually is trouble. But notice the word eventually. We'll leave it at that. Fair enough. We'll leave it at it's only one day. That's what we'll leave it at. But a pretty crappy day and tomorrow will be another day. I do have to mention also something else. If you don't mind, I'm not going to mention the name. There's been some short squeezes in the market we don't like that we don't like froth we don't like
Starting point is 00:30:44 speculation quite often it coincides with trouble in the market often not a hundred percent of the time but quite often that happened today that is all now we got asked got some emails today about Netflix we were told that some pundits were talking about how great the numbers were. And as you know, we investigated. Netflix earnings were up 3% year over year, shoddy. S-H-O-D-D-Y. Netflix's sales were up 3% year over year, shoddy. The last four quarters of Netflix, minus 3, minus 91, minus 18, plus 3 of earnings. Sales, a shoddy plus 6, plus 2. plus four plus three. This is inclusive of getting back subscribers or let me take that back,
Starting point is 00:32:03 getting subscribers that could no longer share in passwords, which has me posing the question, how did the stock make this move? And by the way, they beat estimates. Their actual estimates were for earnings to be down. I think about 10%. we beat. All I know is that if they're going to grow their earnings three percent going forward, this thing ain't going anywhere unless it's a valuation thing. Because keep in mind, Netflix was 200 bucks a year ago. It closed at 437 today. It's up 100 percent from a year ago. But their earnings are down. What does that mean? They're valuing. They're valuing. is skyrocket. Oh, and by the way, I just want to make sure you know Netflix high was
Starting point is 00:33:04 $701 in 2000, late 21. So this was of note because I heard that people were saying they were great earnings. And I'm thinking to myself, what are these people smoking plus three, earnings growth? I was asked about Tesla. I think it's just had a good up and drop 10% today. Won't go any further than that. Numbers didn't look too bad, except he kind of sort of guided not so great because you know what they've been doing.
Starting point is 00:33:52 They've had to lower prices to move cars. Just so you know. I know somebody who speculated on a new car because it was down in price, figured he'd make a score. And it was lowered in price again. So there's a question on margins going forward. Just something to watch. Now I do believe Tesla going forward, the good component may be the batteries.
Starting point is 00:34:21 If you haven't heard some other auto companies are going to use their battery business, their charging business. So that's of notes. All we do know is these two important big names. Got smoke today. Plenty others to come. Low beta day. Defense day. don't want to see more of days like today. Usually they're not one-offs. We're open to all outcomes. Again, one would suggest we were way overdue. And we'll see what's next.
Starting point is 00:35:10 In the news. So as you know, Donald Trump's going to be indicted again. the next few days he's going to be arrested for the January 6th. We are now finding out, there is now an FBI document, an actual document, that the total amount of income streams received to the Biden family with $17 million. Do I need to go further?
Starting point is 00:35:54 Do you know why I bring this up? Go to CNN.com or MSNBC.com, or one of these lefty rags and see if they're even reporting it. And they don't think it's a big deal. The family got 17 million to entities that would do business with the United States government. And they don't care. But if it was the other side, they care. And of course, the Republicans are going after it with a fervor because it's the other side.
Starting point is 00:36:27 But of course, if it was one of theirs, they would dumb it down also. and that's what I was talking about yesterday. There's no doubt in my mind that I'd say the Biden family is a corrupt family. Money grubbing, corrupt family. It's all there plain simple, front and center, protected by their government.
Starting point is 00:36:57 And now there's an FBI document, and I'm just waiting for it to be reported. It won't. And what does it have to do with you and your money? How's that debt and deficits for you? Up next, more news. Whatever else. I'm Gary. This is the one only investors edge.
Starting point is 00:37:16 I'm Malcolm Gladwell, host of Smart Talks with IBM. I recently spoke with IBM's new director of research, Jake Gambata. We discussed his vision for the future of quantum computing. At IBM research, what we always do is answer what is the future of computing, whether it's coming up with new algorithms, coming up with better AI, coming up with quantum, or coming up with just how do different accelerators go together. It's our DNA to answer the question of what is the future. Isn't it a perfect problem for IBM because you kind of need to have a legacy of building stuff?
Starting point is 00:38:25 Yes. Building actual physical machines. Yeah, it's why I came to IBM. I wanted the experience, the culture of building, hard things that others have not done before. Where do you imagine we are in the timeline of this technology? There will come a point when it will mature. Right?
Starting point is 00:38:48 My cell phone is a mature technology at this point. How far are we from that point with Conton? By 2029, we'll build the first fault-tolerant quantum computer. That is one that can run a very, very large, large problem. To learn how IBM is building the future of computing, visit IBM.com slash quantum. Hi, I'm Dr. Jake Goodman, host of Beyond the Script, the podcast where I sit down with pharmacists
Starting point is 00:39:21 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.
Starting point is 00:39:43 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 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.
Starting point is 00:40:02 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. Hey, it's Ryan Sechrest for Albertsons and Safeway. It's stockup savings time now through March 31st. Spring in for storewide deals and earn four times of points. Look for in-store tags to earn on eligible items from Celsius, Body Armor.
Starting point is 00:40:37 Oira Ida, Silk, Capri-San, Bavarian Meets, and Charmin. Then clip the offer in the app for automatic event-long savings. Stack up those rewards to save even more. Enjoy savings on top of savings when you shop in-store or online for easy drive-up and go pick-up or delivery. Restrictions apply. See website for full terms and conditions. You're listening to. What are we waiting for?
Starting point is 00:41:01 Well, what are you waiting for? One, two, ready, go. Action! In the guester's edge. with Gary Culper. And welcome once again to Investors Edge. So there has been one stock called Super Micro Computer, SMCI, that didn't trade a lot,
Starting point is 00:41:32 and now it's trading more, and it's had a pretty darn good run. And I've just been wondering what the heck is going on here with earnings up 5% and revenues down 5%. The stock was down like 20 bucks today, and then they announced, they updated guidance, and I believe there's only two analysts, just to give you an idea what we try to look for.
Starting point is 00:41:55 They were expected, just so, you know, two analysts. Consensus earnings for this quarter were $254. $2.54. They now say it's going to be $335 to $3.45. Consensus sales were $1.81 billion. They're going to do $2.15. to 2.18. Beating estimates.
Starting point is 00:42:22 Now, whether or not that's good enough for what the stock has done as far as a move is another story, but this is the type of stuff we're constantly looking for. Companies that are accelerating their earnings in sales. Simple as that.
Starting point is 00:42:39 And as we go through earnings season, that's what we're going to be watching out for. And I got somebody asking, how to hell is Goldman's, sacks earnings up when they came out with a 60 cent stock up when they came out with 60% drop in earnings well what is what do they do investment bankers securities trading management all that stuff what is the market done recently well it's been better there's been some IPOs coming out and amongst them other things so guess what that's the story whether or not at last don't know
Starting point is 00:43:16 but the market looks forward. I think with these financials, they've been so trashed. It's just a recovery from being down so much from Silicon Valley Bank occurrence. So what was the other one, First Republic? So that's something to watch. And as I mentioned two days ago, the KRE, the regional bank ETF, broke above little range at the lows and the better. Today's Zion's Bank Corps, another regional bank was up 10. today on their earnings which were not that great.
Starting point is 00:43:51 I saw one simple T-C-B-Y, Texas Capital Bank. That was up 6% today, really coming on strong. So some of these regionals are doing the recovery dance of they're absolutely being trashed. And since we mentioned the KRE to you, break it above that little range. We'll keep following it. If it fails, we'll let you know also. But right now, it's a. little bit of mode nothing special numbers coming out nothing fantastic except playing a
Starting point is 00:44:29 little bit of catch-up yields today big move up 1.12 to 3.854 we'll see what comes of that yields going higher is never a good thing same with oil prices that's fundamentally because cost of capital and cost of energy two very important factors in life in general. Next up, I just have to mention this to you. You know, I've been reading for a couple years now that cities, by the way, what does this next thing have to do with you and your money? Well, these decisions are being made by people who are handling your money, whether it's cities, states, or the country. So, I don't know if you know this, but a bunch of cities scrapped something called cash bail. And what is it is enabled is criminals or accused criminals
Starting point is 00:45:34 the ability to get out walking on the streets when they may have not been able to in the past. And what we have found out and what we have read story after story is a bunch of these criminals that went back out, committed crimes again, some violence, some very violent. violent. It's just stunning to watch. And the reason why they do this is they say equitable, equity. If you are rich, you can afford to get out of jail, but if you're not. But when did we measure crime in wealth? If you beat the crap out of somebody and they're injured in the hospital, no bail? Wait a minute, Gary, is it that bad? Well, why don't you all look for Don't believe me. Anyway, the whole state of Illinois has dropped cash bail. The sheriff's department, the police departments have all come out and said we are now bracing for a crime spike and I cannot believe that they have done this. Now the judges can still
Starting point is 00:46:58 still set cash bail for the most serious offenses. The problem is, now you've got a judgment on what's serious or not, and we've seen judges let people out that have beaten the crap out of other people. And in case you don't know, if you beat the crap out of somebody, and let's say they fall down and hit their head on the sidewalk and die, so Illinois will never have me set foot in that state. by the way you'll never see me
Starting point is 00:47:32 in Chicago and it is a beautiful city unfortunately that's just me so just letting you know this is going on decisions are being made on how can we do better for the criminals or the accused criminals
Starting point is 00:47:53 than the victims I want you to know that these are the people making decisions how can we how can we do better for the accused criminals? Screw the victims. That's what it comes down to. Leaders of communities and cities and counties and states,
Starting point is 00:48:18 they should be saying, how can we protect the citizens from the criminals better? Not the other ass backwards way around. Welcome to our world, kids. You all that live in Illinois know what I'm talking about. If I were you, you would be stomping my feet. That all said, you have a great evening drive carefully. I'll be on with Neil Cavuto tomorrow.
Starting point is 00:48:45 Noon hour, Fox Business Network. Don't miss it. Same time tomorrow for the radio show. Up next, I'll be stretching. And when you get home, make sure you hug your children. Seriously. Have a great one, everybody. have a great evening. Be well, stay well. Good night.
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