Investor's Edge with Gary Kaltbaum - Make That 2 Big Days

Episode Date: October 4, 2022

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

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loyalty programs subject to terms and conditions. Visit the prodesk or Lose.com slash terms for more details. Subject to change. Investor's Edge with Gary Coltbaum. Straight talk about you and your money. Now from the BizTalk Studios, here is Gary Cultbaum. And welcome once again to Investors Edge. I'm Gary Colbom, your host day.

Thanks for being with us today. Glad you here, ladies and gentlemen, happy that you are listening. It's Tuesday, October 4th, 2022. And another great day for your 401k. notice the rhyming. Back in March, back in January, back in May, by the way, we're getting right to it. I don't think we said it in July and August as we had a bare market rally that eventually took another ugly leg down. But that one lasted, let's say, well, we kind of had a little bottoming process for 1, 2, 3, 4, 5.

five weeks, and then we rallied one, two, three, four, about four and a half weeks before rolling over and just getting squashed to the low on Friday. But back in January, we had a counter-trend rally that started with a huge, huge reversal day, followed by a huge day, a second huge day ended. Back in March, we rallied up two, three very strong days, you know, the type of days that get you talking. And then we saw it again in May. And on those occasions, I said to you you. And this is after a big move up. And I'm going to use the exact words today as I did back then. If this still, if this is still a bare market, then this rally is exactly how bare markets rally. You got that? We're getting right into it.

if this is still a bare market and by the way we had thought it was still a bare market but we wanted to phrase it in a way that you understand what we were saying if this is still a bare market this is exactly how bare market rallies act

now this is not something that came out of left field as you know we have specific rules and characteristics that we have taken from bear markets and bull markets and one of the major rules of bare markets are bare market rallies are sharp they're quick I'll add one line. They can be big. They get everybody talking about them. They suck people in, and then they screw you soon after.

So I just want to start with that. Why? Yesterday, after a 3,700 and 79 point drop in the Dow in 14 days, I think we were up about 760 yesterday. We were up 826 today.

Let's call it 1,600 Dow points in two days. Still down 2,200 points from 16 days ago. But let's accentuate the positive. 1,600 points, Dow points in two days. Let me repeat. What we said back in January, March and May, we did not say it in the July-August period. If this is still a bear market, this is exactly how bare markets rally. They're sharp, they're quick, they make you feel good, they suck you in and bury you soon after.

Now we watch very closely every day. All the talk today was about these two days. There was no talk that we had just dropped 3,779 Dow points. By the way, that's from a much lower high than the highs in January. Perspective. But that said, we're not going to throw any cold water on it. Tonight, on our webcast, we're going to title it. and I quote

if we thought we just started a new bull market these are the stocks as simple as that we've come so far down over such a long period of time there are certain names that don't even know

how bad things are they're actually at new yearly highs got a few today not many and you also got some what I call recoveries that set up very well for whatever reason so let me be repetitive

and we're getting right to it today if this is still a bare market the past two days are classic if if now I want to throw one other thing at you

you all know I don't trust a freaking thing out of Washington, D.C. 31 trillion of debt will tell you that. It's very simple. Are central bankers committing what we would be indicted for felonies with their insider trading? In the past, I mean, we've seen action in the markets presage central bank moves and changes in stance. You do know they did a bunch of selling right before they started tightening. You know that.

They're crooked. You know there were three central bankers that resigned. Not in shame, but in silence because they committed what would be a crime for us. Jay Powell did the same. He did insider trading that we would be indicted for. And yet they brought in supposed this outside. overseer that came back and said, well, we don't see any problem with this. We're good. So, if all of a sudden, in the next day or two, we find out that Jay Powell N announces, well, we're going to pivot a little bit.

We recognize this and that. Then we know that Jay Powell leaked what he was going to do to Wall Street. You know how connected they are, right? And that means Wall Street front ran this. These are all ifs. But you're dealing with a bunch of corrupt, crooked, and we would say it to their face, sleazebags. Washington, D.C. refuses to change the rules on insider trading. They've admitted that they insider trade.

that we'd go to jail for after being indicted. So we'll see. I found it interesting today that there was not a lot of noise out of central bankers like there has been of we're going to keep tightening even in a recession. That said, next up, you should be writing these things down. The dollar dropped again today pretty decently and so did yields. That's been the driving force. So the combination, we told you this up front, not knowing what we walk into this week, two gaps. I think in total of the 1600 down points in two days, I think we gapped up 900.

And what does that mean? It just means we close and open up 450. Somewhere in there, give or take 100. Give me some slack. Up next, got lots more market today. I may not even complain about anything else. I'm Gary. This is the one only Investors Edge. Hi, I'm Gary Kalbaum, hosted a nationally syndicated radio show Investors Edge.

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With Gary Coltbaum. It doesn't get better than this. So, a very good day, broad-based, great advanced declines. I do believe, let me see, I can't tell yet on final volume. Yesterday, volume was not thrilling. I won't know until a little bit later on volume. There's some China casino stocks setting up well. We've discussed the Solars for a while.

There's a couple of outlier financial names that are in good shape. In the growth beta area, I really got nothing, but some of the off-the-beaten path kind of growthy names, There's a few names. You should tonight or tomorrow, whenever you get it, look at the new yearly high list because it'll take you 30 seconds. What you are seeing is things that have been bombed rallying up some. And yesterday we did a little bit of the exercise with you, but let me add to it just a little bit. Goldman Sachs today was up $15.72.

cents. It's still down $43 from five weeks ago. That's what we mean by a bounce, recovery, whatever you want to call it. What I like the most about today was financials. Yesterday I noted to my peeps that, you know, they went back to the lows of June and held and just tightened up over the last five days and then yesterday made a nice little move. but had a really good move today. That's to be watched. I've yet to scan. I did a midday scan,

but I didn't do final scan. But good move today. And that's of import. Of course, they had that good move back in May and got trashed, had a little move in August and got trashed, had a little move early September, and got trashed back to Lowe's. So we'll see.

We like today that, mid-caps went back to the lows of June and held for the last few days and moved back above this little resistance today as well as other things we like the action today if this is still a bear market this is classic bear market action bear market rallies a sharp quick make you feel good suck you in and bury you soon after we'll see what tomorrow brings And of course, there's so much noise on the Fed and stuff, we've been telling you, just watch interest rates. They're backing down a little bit. We're saying, just watch the dollar.

That's backing down a little bit. It's helping the markets. There is a correlation there. And until the correlation changes, it doesn't. But I want to repeat again, this is a ton. Apple, up 360 today to 146. It was 164, 16 days ago, 176, about eight weeks ago. That's what we mean by rallying up.

That's what bare market rallies look like. If I was pushed against the wall, is this the bottom, this two days? You know what I'd say? Eh, that would be my answer. Yeah. And we'll let you define that. Now, in some huge surprising news, huge surprising news, because I've been thinking one thing.

If the Twitter deal with Elon Musk does not get done, and the stock was about $43 coming in today, I was thinking, man, this thing's under $30. bucks and due to the fact and this is these are facts yesterday another ex-employee of Twitter came out and said that the Twitter bots BOT their numbers are not true their BS this is on top of others saying the same thing I'm thinking there's no way this deal is getting done. Now, I haven't spoke to Elon Musk in a long time. Okay, that's a joke. I've never spoken to him, don't know him. Out of nowhere, this thing was going to trial.

It has come out that Elon Musk, this is what's being reported, has agreed, to buy out Twitter at the highest price, $54.20. Stock closed up, they halted it all day. Stock closed at $52, up $9.46. I'm already being asked, well, if he's paying $54.20, it's $52, can I make $2.20? You want to bet on Elon must change in his mind for $2.20. Go at it.

I got to tell you. I wouldn't be paying $54.20. 20 cents for this. It's about a $41 billion market cap for a company whose sales have been decelerating markedly and who lost money last quarter. Now we do know he can do things differently. A, he can bring back Trump, which he will. Gee, great. So he can show more racism. And the other part, which is actually good news, you know, Twitter shut me down for a day because I said Bernie Sanders' economic policy borders on communism. The Mullahs and Iran the same day as saying death to Israel and they don't get shut down. I said Bernie Sanders economic policy, borders on

communism. I get shut down for a day. They hate one side. They love the other side. These are the Twitter people. So I think that can change. That's good news. These are supposed to be open source places where as long as your opinion does not create violence, you can say whatever the hell you want. But no. Do you know on Google? I believe they're shutting down anybody who disagrees on the vaccines and stuff. They won't let it be up on Google, you know, when you search. Now, I'm a believer in the vaccines. I'm a believer in it. I think anybody who says the other wise, I just disagree with because you can see a direct correlation between the COVID heading South big time when vaccines came, but I'm not going to, you know, whatever.

God bless anybody for disagreeing or agreeing with me. But Google's shutting half the sides down. That's not what it's supposed to be. So we'll see what happens with Twitter. I got to tell you, I would have never bet this deal gets done. I don't think I was alone. Up next, more in these markets. Whatever else, I'm Gary.

This is the one only investor's edge. Hello, hello. I'm Malcolm Gladwell, host of Smart Talks with IBM. I recently spoke with IBM's new direct. director of research, Jake Mbeta, 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? 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? 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. 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?

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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 Coltbaum. It comes highly recommended. You're going to feel better if you talk to him. And welcome once again to Investor's Edge.

Part of yields coming down and the talk of maybe the Fed pivoting, there is something called the Joltz report. It comes from the Bureau of Labor Statistics, the BLS. The website is BLS.gov. I call it BS.gov, but they give us statistics. anyway the expectations were there going to be 11.17 million job openings they came in 1.1 million lower than expected now we have told you the shoot a drop from 11.17 to 10.05 we told you that there'll be a shoot a drop and that'll be the job market when all these job openings goes away, it just simply means companies are recognizing,

yeah, we don't need that many people anymore. That would be a start. So, Gary, are we at the point where bad news is good news? Oh, yes. What have we told you? Easy money, good for the market, no matter what? Tight money, bad for the market, no matter what. and for two days, listen carefully, a 3,779 point drop on the Dow in 14 days, which was 11.6%, 12.9% in 14 days for the NASDAQ, 12.9% in 14 days for the S&P.

13.8% for the NASDAQ in just 14 days. The transports down a whopping 15.7% in 14 days. Of course you're going to get a bounce. And of course, you can get a big bounce. Because as we circle back, if this is still a bare market, bare market rallies a sharp, quick, make you feel good. I forgot one thing. have people calling the bottom and yelling and screaming it,

and then bury you soon after. A certain famous someone who was bearish as all heck on Friday is bullish as all heck today. Unfortunately, that's happened about eight times since January. That's why we're up 1,600 points in two days. Massively stretched, extended, and oversold. That's just in 14 days. you can go back to mid-August it's a lot worse just two months two months and change that's why am i surprised

of course by you're always surprised by a move of that so quick so strong and on gaps which are a real pain and you know what i'll know more when i scan tonight two thousand stocks 200 sectors every country every commodity but the most important part of the equation yields down, dollar down, market happy. We'll see what tomorrow brings. That is the story. In a nutshell, I'm happy for everyone. I want the Dow to go to $50,000.

Seriously, I want the Dow to go to $50,000. I want it to be worth $50,000 when it gets there because if it isn't, it's going to get trashed again. We don't want bubbles. So the today's market wrap, I don't think I've done this yet, is brought to you by Investment-Dashmodels.com. That's Jim Rohrabak, one of the great market timers. No gray areas with the man you're either in or out of the market with his proprietary

indicators. Go check it out. Investment-dash-models.com. Dow up 825, and I think that may be the high of the day. We're close. We may have been up 900 at one time. S&P up 112, NASDAQ 360, NASDAQ, 100, 352, the SOX-106, transports, 453. You ready for this on the transports?

You just went from 15-3 to 12,000. You're back to 12-9. Still down from 15-3 weeks ago. That's how bad things have been. And still, that's even farther down from March, and that's even farther down from November of last year. The new yearly highs. I'm just going to read them to you.

Because that'll take 30 seconds, but it's worth having you know. On the NASDAQ. You ready? First solar. FSLR. Harmonic lightwaves, HLIT, Neurocrine biosciences, NBIX.

By the way, we are not advocating buying, selling, shorting, and covering any of these. Cross-country healthware, CCRN. Some of these things don't trade a lot. LPL Financial, LPLA. IRDM, which is Eridium. Digi International, DGII. Aspen Tech, AZB.

P-N. That's it. That's your new highs on the NASDAQ. I won't mention a couple of biotechs that have no sales. Can't do that. That's your new highs on the NASDAQ. Have I thrilled you? We just went up 1,500 points, make that almost 16. In two days and I got five new highs on the NASDAQ. New York, surely there's got to be a few more on the New York. Nope. Nope. In fact, I don't think I have five. You ready?

Unum. UNM. Insurance company. Reinsurance group, RGA. Doesn't trade a lot. Hubble, another one that doesn't trade a lot. But $236 bucks. H-U-B-B.

Symbol Dino, D-I-N-O. it's an oil refiner I think that's it that is your new high on the NYSC so I think we just gave you nine new highs on both indices out of I think there's about

6,500 stocks on the New York and the NASDAQ at least that's what I read and it moves around a little bit nine maybe 10 did I give you six on the NASDAQ just keep that in mind again

The reason why we have a strong two days is we had a nauseating, belting of 14 days, but we give everything it's due, but we also give you perspective. Today's action moved above. The last five or six days are wild swings. And we mean wild swings. I'm not so sure that's really technically big time because it was. It was only a few days. Oil stocks.

Well, on their way to get in trash recently, the last move was a big gap to the downside. A gap. You just got it all back. The gap. On higher oil. Now, ultimately, I'm not so sure that's good news. We don't want oil prices going up. So that'll be something to watch.

In the doubt of a day, nothing was down. Everything was up. Do I have any bull market stocks in the Dow or bullish stocks in the Dow? Not yet. What do we mean by bullish? Just for starters, you've got to be in shape above the 50 day, good range bound, prepared to possibly break out a range. I don't think I have one. Actually, I'm pretty sure.

I don't have one. and I'm pretty sure not even close, but nevertheless, a very good day. And that's a lot about the market, right? Next, you ever hear of something called Poshmark? It's a woman's mail order direct fashion and accessories. We think somebody's going to go to jail. We just got to mention that. Why? Inside a trading. They were bought out overnight. Major volume in the last few days. I'll explain.

I'm Gary. This is the one only investor's edge. 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, 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?

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?

My cell phone is a mature technology at this point. How far are we from that point with Kondo? 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. 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? They all live on an organic valley farm. Organic valley dairy comes from small organic family farms that protect the land

and the plants and animals that live on it from toxic pesticides, which leads to a thriving ecosystem and delicious nutritious milk and cheese. Learn more at ovi.coop and taste the difference. listening to what are we waiting for

what are you waiting for one two ready go so with Gary so

simple just short shrift POSH was bought out up two bucks to 17 and by the way the stock came out

in March of 21 hit a higher 105 it's getting bought out at like 17 18 bucks on Friday

it traded really big big big volume week before big big big volume at the very least that big volume will be investigated should be investigated if I was running the joint I'd be investigating

just remember ladies and gentlemen this is how it works if somebody is at a company and they tell you about information that is privileged and not public and you act upon it, you're both going to jail. Simple as that. Do I have to repeat that?

Or you can plead out and pay back all the money plus fines. You never know if they're going to send you to jail these days. I mean, heck, you can be arrested 25 times in New York and never have a problem. Do you know there's one person that's been arrested 41 times and keeps getting out with no bail? they're insane in these cities I don't know what the hell is going these DAs all my peeps in Portland man oh man the things I read

anyway we'll see what happens that so just recap the Twitter news wow wow Elon Musk we think it's a mistake but I guess he's got money to burn Tesla stock was up 14

when the news came that it was only up one, finished up seven. Tesla stock right now is on the defense of big time. Had a real bad day yesterday and a very good day in the market off of shortages, a little shortage of deliveries for the quarter, which I don't think has happened in a while. But the market, two strong days off of 14 nauseating days. Do I have to repeat what I said five times already on the show? Notice we didn't tell you not to buy, sell, show, or cover anything. we're just letting you know.

Very good day. And we'll do some measuring. Earnings, there really aren't any this week to speak of. Next week, it starts up the week of 17, the 17th of October and really goes in the 24th in a very big way. And that's where everybody reports. And it's going to be quite interesting. Not so sure you want this market to be overbought

heading into earnings. I have to mention gold. You had five good days in a row in gold. Do you know why? Oh, it's simple. You had five bad days on the dollar. Direct correlation. Go look at the price of gold and go look at the dollar index.

Clean. Clean. The gold going from 10 p.m. down to 4 a.m. The dollar, 8 p.m. up to 2. since March. That's how much the dollar means right now to a lot of things. There's also talk about intervention, and we hate all this. We hate currency intervention. We hate central banks. We hate these government idiots playing with financial markets. Look what they've done. Just remember, the people that are trying to undo all the problems are the ones that cause the problems.

And of course, all the answers will come again to be more money printing, more easy money. And if they pop the bubbles up again, they'll just burst the hell out of them again. And we'll always end in the disaster eventually. But taking away that cold water, two very good days. As we always state, we have no clue what happens tomorrow. But when I saw futures this morning, I think the first thing I saw when I woke up, Dow was up 460. In the news? Eh.

I think my big story is Bobby Wagner, taking out some ass, jumping on a football field with a smoke bomb. What a moron. Of course, the security's going to take you out. The security couldn't reach him. Football player just tagged him. I hear the guy wants to sue.

Yeah, he'll win. That was cool. And I must tell you, just, my hats off to the first responders here in Florida. I don't know if you've seen all the rescues that have been going on. My goodness gracious. The media, as usual, sucks. They are going with the end of the narrative saying,

oh, Desantis, the governor has not done a good job, and he was late for this and late for that, and he was interfering. Guess who's coming up with that narrative? the Democrats and the media is running with it because they suck. I'm here. The man has done an A-plus job. Of course, everybody's taken sides.

That's the way it is. There's nothing you can do about it. We give you the straight. We can't stand any of them, but we'll tell you when they do well. We'll tell you when they do the job. I don't think the man could have done any better. So be careful. The media is just plain corruption in plain sight.

and they don't care about you. One side is the Antichrist, the other side is angels. That's how it goes. Just remember that. And we pull no punches on it. One side, they will give a colonoscopy on a daily basis. The other side can be as bad as bad can be, and they will not say a word. Just remember that.

We'll say a word. with no bias, a gender ulterior motive. That all said, two great days. Can we get a third? You all have a great evening drive carefully. As always, thanks for joining. I'll be on with Charles Payne tomorrow, 2 p.m. hour on Fox Business Network, and until the same time tomorrow for this show,

again, have a great evening drive carefully. When you get home, do like we do. Quite simple. Make sure you hug your feet. family, make sure you hug your children, they will feel better, you will feel better, I promise. Until the same time tomorrow, thanks for joining us. Always humbled that you would listen to us. Bye-bye all. 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. 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.

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