Investor's Edge with Gary Kaltbaum - MORE DAMAGE

Episode Date: October 10, 2022

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

At CVS, it matters that we're not just in your community, but that we're part of it. It matters that we're here for you when you need us, day or night, and we want everyone to feel welcomed and rewarded. It matters that CVS is here to fill your prescriptions and here to fill your craving for a tasty and, yeah, healthy snack. At CBS, we're proud to serve your community because we believe where you get your medicine matters. So visit us at cvs.com or just come by store. We can't wait to meet you. Store hours vary by location. Investor's Edge with Gary Coltbaum. Straight talk about you and your money. Now from the BizTalk Studios, here is Gary Coltbaum. And once again to Investors Edge, I'm Gary Colpom,

your host. A thanks for being with us today. Glad you here, ladies and gentlemen, happy that you are listening. It's Monday. It's October 10th. It's 2022. Hope you had a great weekend. I did not. I'm going to explain to you my weekend, and I promise we will do enough of the markets. Not much has changed. It only worsened today, as well as some news and all that fun stuff. But I'm a big believer in letting you know who I am, what I'm about, how I think, what I feel. In case you don't know, in case you don't know me, I am the most low-maintenance person on this earth. in case you did not know.

Self-professed, of course, but anybody who knows me will tell you that. I am the most patient man on earth. Self-professed, but anybody who knows me would tell you that. Generous to a fault. Self-professed, but anybody who knows me would tell you that. I took my son out to dinner in New York City, went to see Chris. Rock in concert at Radio City Music Hall, we went to a restaurant first. The woman was, wow, that I gave her a 50% tip on the meal that we had. And what happened was they already put the 20% and I said,

don't sell yourself short. And I kept dingin and dingin. And finally at 50, I stopped. And she wanted to give me a big hug. And I said, just don't sell yourself short. Whatever. That's who I am. And when I mean low maintenance and patient, if I'm in traffic, I'm in traffic, I've had moments where, oh, let's see, seven o'clock flights out of Orlando, leave at 1 a.m. because of weather. And I can go on and on and on and on. I will tell you, this weekend tested my patience and tested my tenacity. and I'm actually going to explain. I'm going to name names. And if they are listening, I'm going to give them,

I'm doing this as constructive criticism for them, not to have them lose any business, but since I can't reach them, and let me explain, I'll work my way backwards. I sent an email to them, they say send an email to us if you have a problem with us. And I did.

And you know what the email response back is? I am not making this up. I am not making this up. Thank you for emailing the Home Depot. This inbox is not monitored. In other words, they told me to send them an email on my experience, and then the email says it's not monitored. In other words, they're not going to read it.

And I bring this up because who do we do? care about most in our lives? Who? Our family, right? Do we start a family? Father, mother, sister, brother, son's daughters. I have a 90-year-old dad, 88-year-old mom, self-sufficient, amazingly so, live in an apartment by themselves in New Jersey, but they had a refrigerator as old as dirt. And, you know, I'm up there, you know, a couple of times. a month and nobody tells me anything, but their freezer hasn't been working, so they've been housing their freezing stuff at my brother's place, and nobody tells me anything. So I went and bought a new refrigerator. I went to Home Depot here in central Florida and ordered a whirlpool.

Refrigerator. And you know, it's funny when I explained this to my peeps today, boy, everybody was coming back at me. Oh, it happened to me, it happened to me, happened to me. So first things first, it was supposed to be delivered two Saturdays ago and I flew up on Friday because I want to be there when it comes and make sure it goes okay. Friday at 3 p.m. I got an email. Oh, there's not going to be any refrigerator because it was not in stock or it's back ordered, whatever. And guess what? I didn't make a stink. I could have. A lot of people would, but I called up and I just asked what happened. They explained it. I said, no problem. Is it possible we can make sure the next time that it's definitely going to be there? there. Well, we really can't guarantee, but we'll do the best we can. So guess what? It arrived this past Saturday. I flew up on Friday, or did I flew up in third? Whatever.

And it comes early in the morning on Saturday. And the two people that delivered it, terrific, got it all done, put it in, and then they left. But then I realized that, oops, they forgot to put in the handle at the bottom and, okay, whatever, we'll get a handyman. he did it. And then I left and flew back to Florida and I get a call from my brother. The refrigerator is not working. Has it worked? I'm like, what do you mean it hasn't worked? How does a refrigerator not work? Don't you just plug it in and it works? That's what I always thought. But okay. So I bought this at Home Depot a whirlpool and I got the five-year warranty even though I'm not a warranty guy and I start making calls.

Call back Monday morning. 7.30 a.m. this morning to 12 noon. Four and a half hours on a phone. One telling me the other now handles it. The other telling me the other now handles it. I went to the Home Depot and I said, I don't understand. I bought it from you and I have the warranty through you. Why do you tell me to go to Whirlpool on this now?

Well, it's now in Whirlpool's hands. I go, but I bought it from you. Why didn't somebody tell me? Even though I'm buying it Home Depot, I got to go to them. And why did I even buy a warranty through you guys? And I just, my ears went deaf. Four and a half hours later, and let me stop for a second and tell you, they were all trying to help. They weren't mean, they weren't nasty.

They all meant well. I explained to all them. one's 90, one's 88, and they don't have a refrigerator right now, and you know where their food is? Out of neighbors, my brother's going back and forth. You know what I had to do today? I bought one of those college fridge. They're going to get delivered tomorrow. Like when it was a little college fridge, actually a bigger size.

I got nothing done four and a half hours on the phone. They transmed me back and forth and back and forth and then got hung up once or twice. And I'm like, what can I do? I ask them, is there ever an emergency? In other words, my parents, you know, they need medicine. in the refrigerator also. Can I get somebody out there today or tomorrow?

You know, one of these whirlpool people. Now, next one's in 10 days. What? So if somebody has an emergency, like I'm telling you, nope, next one's in 10 days. I go, so in other words,

when I say 1's 90, 1's 88, nope, next one's in 10 days. Nothing we can do. It's our system. It's the system. and I kept going back and forth and patient as can be and I'm doing my work you know I'm sitting there watching my stock screens

as the markets are cracking again still getting over the Mets lost last night and finally at 1230 mark 730 to 1230 I'm begging somebody and to be with I'm got to be honest with you I don't even know if it was the Whirlpool person or the Home Depot person at this time

that's how many times I was shuffled along. I'm getting a replacement. She first told me the earliest is the 20th, another 10 days. And I'm pleading. She got me a delivery for this coming Saturday. And I'm thinking to myself, you know what, just cut your losses. And I'll get that college fridge to them. It'll be there tomorrow, one day delivery. I try to get the same day, but I, you know. But I'm just letting the people of Home Depot and Whirlpool know, dudes, duets, your system sucks. It is a horror show. You know what you have going for you all? Your customers, they're your clients. And if you cannot be flexible enough to understand sometimes, not all the time, maybe not even one out of 50

times. There is an emergency. You have got to give the powers to your people to move a little heaven and earth. Because my parents, 90 and 88, I'm not in their psyche. I don't know how they feel. They are on the fragile state these days. You never know mentally, where's my refrigerator? I got and I couldn't get any freaking thing done. And then I'm sending emails to them that says for customer service, if you have an issue, and I get back, well, this email,

the inbox is not monitored. So in other words, the hell I got to do that for. Now, I told this to my peeps. We got a few hundred people and a little membership thing we got going. I got five dozen emails. I'll do the emails, then the sports, I got to do the Mets and the Giants. And then we'll really get down to business.

I'm Gary. This is the one and 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. No big commissions, just a fee on the assets that's managed. We also provide a full range of personalized services

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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 Mbata. 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 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. 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. With Gary Coltbaum. It doesn't get better than this. So, here's the shame of all this. Well, first of all,

World Pool does $20 billion in business. So obviously, maybe I'm just in the minority. I don't know. I mean, you can't do 20 billion in business and suck, right? Home Depot does, whoa, 150 billion in business? Is that right? I think it does. And I've never had an issue with Home Depot. And here's the shame of this whole experience. The companies are doing their own employees a disservice. They were really trying. I had one woman that was to

tenacious as tenacious can be. You know what she had to do? She had to transfer me to another department. And she told me every time she got to the department, it automatically hung up on her. She did it like 17 times. And then when I got the department, they threw me right back. The system itself. So here's my memo to Home Depot and Whirlpool. Get in your boardroom and remember, we are the customers, we're your clients. Without us, you're out of business. You do realize that. And the most important thing you can do is a successful business. Most important thing you can do is a successful business is be the most paranoid when things are going right. Because me, low maintenance Gary, Mr. Patient Gary, I still was low maintenance today and I still didn't lose my patience.

But I can promise you, any average human being today would have been F-bombing these people like there's no tomorrow. Because it's your father and 90 years old, your mom at 88 years old, and you can't get any answers over a freaking refrigerator. And you can't get a service person out within a day? How easy is to communicate with a service person. Hey, we got an emergency over in Jersey. Can you make an hour's time? The guy said he'll give you a big tip and buy your dinner. No, because the system says otherwise.

So now, Saturday it's going to be delivered. They say that they're going to text me and email me Friday for the four-hour window, which they did not do this past Friday. I had to call them another little one. for those people who run Home Depot, if you're a regional or whirlpool and you're up mucky muck there, use this as a constructive. One of my peep said I was about to go to Home Depot

and buy a $300 something and now I'm not going to. That was not my intention. But sometimes you just got to spew. Because father's 90, mom's 88, and I had to go buy a college refrigerator just for five days. Anyway, that was that. Next, Ben Bernanke is getting the Nobel Prize on Economics. Let me just state for the record, that would be like me getting the Stephen Hawking Medal

for Science Communication. Another miserable failure at his job, ground zero, of everything we are seeing right now. He got to help, but let me state this. He's a piker compared to Powell in what he did. And just remember, he was one of the causes of the 08, was wrong about everything. This is the amazing part about getting a Nobel Prize in economics.

He told the world, subprime lending was just fine. There were no issues. Housing never goes down in price, and the economy was in just fine shape. and it wasn't until the crap hit the fan that he was well uh oh and that gets him a Nobel Prize gotta love that

nothing on Obama but Nobel gave him the Pete Prize I think right before he entered the White House he had already won I don't think he was in the White House yet and they gave him the Nobel Peace Prize so to my eye they suck they're nothing to me It's just like the UN, an anti-Semitic, anti-Jew, anti-Israel body that has sanctioned Israel a few hundred times in North Korea twice. And by the way, that is not an exaggeration.

We just don't go for these things. Next, Kanye. So all the emails I got last week, hey, what do you think of Kanye? Look at him. He's all conservativeness and that. And then he goes out and says, death, death, DEAT. I'm going to go deathcon three on the Jewish people. Death.

The last time anybody went death con three of the Jewish people, the six million were dead. Well, Twitter decides to shut them off of Twitter for a whole day. Gee gosh. This piece of crap, anti-Semitic scumbag can kiss mine. And for all you that are into the celebrity of people, be careful. We didn't fall for him.

And you know when you know, the excuse? Oh, it's his mental health. He can take his mental health and stick it up as anti-Semitic. Any racism of any race, creed, color, gender, height, weight, anything should be frowned upon in every which way. unless they break the rule of law big time. Then you check them out. That's Kanye. Next. The Mets.

I thank all that have sent me emails saying you sorry. One person was quite sarcastic and making fun of me. But my Mets go down with a one hitter in flames. Don't know what to tell you. The Giants. Dang. I guess coaching does matter. Four and one.

Philadelphia's five and oh, the Eagles. I think Dallas may be four and one too. Those scummy Dallas. And last but not least, Bray Wyatt shows back up in the WWE. In case you don't know, Bray Wyatt's real name is Wyndham Rotunda. And when I was young,

Mike Rotunda and Barry Windham were great tagger. team. I was at Barry Wyndham's first match ever. When he first came out, he was this skinny guy, then he got, you know, bigger. Barry Windham, the son of Blackjack Mulligan. And Wyndham was named, first name of Bray Wyatt for that. And there's the story. That's my professional wrestling story.

And now we're done. Up next, don't want to miss the next two segments. I'm going to prevent you from losing money. 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 director of research, Jake Mbata. 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? Yeah. My cell phone is a mature technology at this point. How far are we from that point with Quantum? 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. But 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. We're listening to... America is talking.

Investors and... He's got to be pleased with that. The crowd is just on his feet here. He's a Cinderella boy. With Gary Colbomb. It comes highly recommended. You're going to feel better if you talk to him. Okay.

Saw Chris Rock Saturday Night. Exceptional. Top-notch. Exceptional. It's so tough to hold an audience for the amount of time he's up there. And boy, do he hold the audience. He was cracking everybody up. We move on.

So just letting you know. that everyone is now talking about what we told you was going to happen 18 months ago, 24 months ago. Jamie Diamond is J.P. Morgan head honcho. We're headed for a session in the months ahead. Yeah, thanks. Now you're telling us all that's going on. We were in front of everything you are seeing. Hope you've been listening.

Hope you've been protecting your capital. As we wind our way through this bare market of unknown price and time, except our big picture has not changed since. November of last year. The only thing we have done is every now and then when we thought it was right, countertrend rallies. And I will tell you, one time, the countertrend stopped that day. Another time, three days, a couple of times a week to three weeks. One time was during the summer, which was a pretty good one. Otherwise, it has been nothing but nausea and misery. And as we told you coming into this week, man, oh man, them lows are being now what we call we need a go-line stand.

if we break the June lows in a big way, not 1% below, but really not very good news. And I will tell you today will not go down very well on a resume. The Dow was actually up with a few minutes to go. But we would have said to you, if the Dow finished up, we would have said to you pay no attention. It was one of those days where the underlying market is so much worse than the Dow. So market wrap is brought to you by Investment-Models.com. That's Jim Rohrabak, one of the great market timers. No gray areas with the man you're either in or out of the market with his proprietary indicators.

Go check it out. Investment-dash-models.com. The story isn't the Dow down 93. But the S&P 27 on a percentage basis, much worse than the Dow. But the bigger story for us is the NASDAQ 110, NASDAQ 100, 112, and the Semiconductor's 81-member advanced micro devices another big warning advanced declines were not good up down volume was not good but just take away the Dow what again as we have taught you and showed you factually technology leads markets up and down semiconductors pretty much 90 plus percent of the time on a daylight today where the

Dow was actually up a little bit with a few minutes to go I'm just going to throw out some things here you ready Broadcom, not an unimportant semiconductor, down $237, Lamb Research down $24 to $350, KLA 10Corp down 15 to 299, ASML Holdings down 12 to 421. That's not good news. Technology, service now, down 19, 5%. EPM 14, crowdstrike 11, Bill.com, 10, Snowflake, 16. What do we warn you about Snowflake? I don't care what they sell. They lose too much money.

5N, F-I-V-N, down 20 to 57 bucks. Synopsis, down 14. You're catching where I'm going? Z-scale down 13. Somebody was on TV last week. He's buying with both-hand Z-scale. MSCI down 13, MDB down 8, A-N-S-S-D-S down 9. I can go on and on and on and on. It was a very bad day for week. call technology slash software slash high beta, you know, the things that move more than other things. You got that? In fact, the Dow miners have been down 400 today. That's how bad it was in that area. Chinese ADR is very bad.

Remember we told you you had a little relative strength in the casinos out of Macau, China, right near Hong Kong? They found new COVID cases. those Chinese casinos down 12% today that's why we don't buy that we're not buying we wouldn't even look at China stocks now we watch them

but we wouldn't touch them because we don't know what the government's going to do next day and this is true if they find one COVID case in a city they're like shutting it down financial's not a good day medical's not a good day you had some green today

commodity stocks were green commodities were green today Cotton was up big, lumber was up big. Oils were down, remember we told you, straight down, straight up, good luck with that. So oils, they hit them pretty good. Some commodities were up a little bit. Some of the staples, Hershey's, you know,

we're getting close to Halloween. But as I told you, the $10.99-bag of little Hershey's, 1499 now. Defense stocks were strong today. Russia's attack in Ukraine, a very big way. Go read that up. And auto parts retail, I don't. know what's going on there, but AutoZone, which announced a big buyback last week, up 60 today.

And O'Reilly Automotive up 13. That's up a couple percent. But besides that, it's just plain gross. It's all I can tell you. It's just plain gross. And we want you to remember last Monday and Tuesday, the Dow went up 1,600 points in two days. And remember one of our rules of bare markets. Remember, we have rules.

Bear market rallies are sharp, quick, make you feel good, get people talk. talking about it, suck you in, then bury you soon after. What's another rule? By fact, most of the biggest one-day moves in the market have been in bare markets. So that 1,600 points didn't get us moving the needle. We didn't know we'd get trash right back down, but didn't move our needle. So I got nothing really fabulous to tell you here. Today was a bad day for technology and higher beta, and that's not good news.

You want to see the opposite. This week, just again, let's see. Pepsi Codamar, Thursday, Black Rock, Delta Airlines, Domino's Pizza, Fassanel, Progressive Insurance, Taiwan, semiconductor, Walgreens. I get all my drugs there. Friday. City Group, J.P. Morgan, Morgan Stanley, PNC. Bank, U.S. Bank, World's Fargo. So a slew of financials, and I'll throw in United Health, the most important Dow stock,

because it's the highest price, which is now under pressure too. Bond market was closed today. It is Columbus's birthday. They don't shut the stock market. They shut the bond market for whatever reason. Oil prices, good news, down two bucks today. After going from 76 to 92 in what I say the other day, nine days, back down two bucks today, in spite of Russian doing what they're doing.

And by the way, I get emails all the time. Why isn't anybody doing anything about Russia and what they're doing in Ukraine? In case you don't know, they just bombed major city, took out schools and parks and whatever. It's a damn good question, isn't it? Isn't it? You know, I always say to you, if I was president, what I would do? I must tell you, I first have to find that exactly what the hell is going on, how much nuke there is. Then you've got to start the psychological guessing game of this prick that's running the place.

in Russia, I think most of just worried that he will just go pure nuts. And then there's kind of sort of not a lot of looking back at that point in time. I think that's what's going on a little bit. I would say this. If I was president, I would suggest Putin would feel it more that there was a president. I'm not so sure he's feeling any tightening at this juncture. In fact, there's been a eerie silence from the powers that be on all of this. Though the president came out today and said, yeah, I condemn this today. Gee gosh, hey, thanks.

Of course, this is the same guy that's negotiating with Venezuela to get their oil, which is dirtier than ours and more expensive than ours instead of producing here. Again, the illogical for the way. in. Logic. Who needs that? Who needs logic? Give the guy more money so he can pay more to the military to destroy the people of that country, as well as the economy.

Yeah, but who needs logic? Anyway, I already started little scans. Let me just put it best. More damage today in the markets. And New Yearly highs did pick up. I got 11. And by the way, any of you that are mucky mucks up in Home Depot and Whirlpool, please email me at garykkhaarcom or gulpomcobbom.com. Let's have a little conversation. Hey, up next, this, that, and the other thing, or whatever else. 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 computers.

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.

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. Lodge 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.

But 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 OV.coop and taste the difference. We're listening to. What are we waiting for? Well, what are you waiting for? One, two, ready, go. Action!

In the Gester's Edge with Gary Culpa. So, normally, going into Monday night football, I'd say I'm winning the week in Fantasy League, but I'm playing against Kelsey tonight, the tight end of KC. the only way I lose he would have to get three touchdown passes tonight the problem with that it's Mahomes and it's Kelsey you know how I lost last week

Tom Brady decides to go ape you know what and what does he throw four touchdowns last week when I think he had one touchdown the first three weeks I have the best team in my league with points Yes, I lost three out of the four weeks because of the scheduling. And you know why I have the best team?

I got Josh Allen. Guys putting up numbers like insane. And I had two players yesterday that went out with injuries in the first quarter. And I still may win. It's one of those years. Okay, your questions. My answers. Pick them randomly.

And some I'm going to, they know I won't answer, but I'm going to still think. throw them out there. How low do I think is this bear market going to take us? That's the main question we get. Well, over a year ago, we said we think we had a bubble. Bubbles usually bust. You've had Eiffel Tower moves. What is that? Just draw the Eiffel Tower. Do the left side. An Eiffel Tower move is you come down all the way to the right side. And if you don't believe me that that stocks don't make Eiffel Towers, go look at a chart of TIL-R-Y, at the highs when it was the highs. You'll see what I'm talking about. We've said all long, we wouldn't be surprised if we're in the 50s on the NASDAQ, if not more. I think we're 36 now. And frankly, we'd be in the 40s,

if not for Apple and a few other mega names that are big influence on the indices. And how do we know this because we've done shows here where we spent 15 minutes just going through names and how far down they were from the yearly high. Oh, so-and-so, 82%, 72%, 67%, and not fly-by-nights. We're talking the PayPal's and the squares and the Netflix and the Facebooks and the NVIDias. Everyone's favorites. I'm going to put it just in this term. I would not be surprised by a 50% or which would take the Dow down, I mean the NASDAQ down to 16 and change. I mean 8 in change. down from 16. Now, I don't bring up the Dow because the Dow will always hold up much better in the NASDAQ. The S&P will be in between. I'm pretty sure the S&P's like 25 now. I wouldn't be surprised

like a 33 and a 50. 34 and a 50, S&P NASDAQ. I am not saying it's going to. I'm sure saying every day the evidence comes out that it could be. And the last bare market, Apple went to down 60%. You know what Apple's down from the highs right now? Butkus. 23? That's a tiptoe through the tulips. Imagine if Apple went down 40. You know what that's going to mean for the index? Considering the sympathy plays also, that'll be your mid-40s of your NASDAQ. And due to the fact, we've been telling you, Apple's valuation compared to its norm is way in the trees. while their earnings and sales have decelerated markedly in possibly a very tough environment

for the technology arena. I mean, at least what we're getting from many names. The latest being, AMD, which, by the way, we telegraphed for you. AMD's complaint? PC market. Five months ago, what did we tell you? PC market. So I would not be surprised.

I'm also asked, I think we can get what we saw in 08 of 5656, sure. I doubt it. S&P will hold up better. Do we think we have another 2000-2003 where the NASDAQ dropped 80%. I have to tell you, I'm not predicting it. I'm not so sure I'd be surprised. You do realize valuations will go coast to coast,

and you do realize there's a pretty damn good chance that the NASDAQ is a bubble to pop also. You know what else they've done with everything else. Just crushed them. Bed Bath and Beyond's back to $5.30. It was just $30. AMC's down to $8. GameStop, 25.

I don't even know how it's still there. Remember that HKD that went from $7 to $2,550 bucks? It's back to $30. So I just wouldn't be surprised. The most important thing we'll do is just take it a step at a time. Just get the main trend right. The Great Stan Weinstein, if not the greatest technician ever, one of them, always says that the forest is the big

picture, the main trend, the trees are just that. Hey, what happened today? What's going on tomorrow? We stay out of trouble because we get the big picture right. The forest is a 10, the trees are a 1. And man, oh man, another bad day for the forest. Advanced declines on the New York 1229, 1628 on the NASDAQ. And as we said, New Yearly High,

hardly any new yearly lows big pickup today and a lot of damage done underneath the surface and a lot of these higher beta growth names that led so well into last year not anymore and remember that other rule and this has not come from me i had tested out myself this came from bill o'neill in bear markets past leaders will drop on average 70 percent i never believe that and then i tested it out he was right and guess what's happening in this one the same so again the rules the evidence the roadmaps working big time and of course our number one rule if anything starts to change we'll let you know

ain't nothing changed today nothing stood out on the great end except defense stocks everybody likes a good war anyway that all said still by whirlpools and still go to Home Depot, please. You'll have a great evening, drive carefully.

I'm sure they mean well. And when you get home, do like we do. It is quite simple. Make sure you hug your family. Make sure you hug your children. They will feel better. You will feel better, I promise. I'm not sure what TV I'm on tomorrow.

But keep watching Fox Business. I'll be there somewhere. And same time tomorrow for the show. We always appreciate you listening. Hopefully we are helping you out. Take care of all. Thanks for joining. out. Bye-bye.

This has been Investor's Edge with Gary Coltbaum 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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