Investor's Edge with Gary Kaltbaum - MORE DETERIORATION

Episode Date: April 5, 2023

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

Transcript
Discussion (0)
Starting point is 00:00:00 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 your food. store we can't wait to meet you store hours vary by location investors edge with gary cult bomb straight talk about you and your money now from the biz talk studios here is gary cult bomb and welcome once again to investors edge i'm gary colpom your host day thanks of being with us today glad you
Starting point is 00:00:52 here ladies and gentlemen happy that you are listening it's uh wednesday april 5th 2023 hope you having a good day let me start out by saying happy Passover to all who celebrate. I celebrate Passover. Happy Easter, but all who celebrate Easter, is that the big week. Friday, the market is closed. Good Friday. We wish everybody happy, healthy, holiday, and safe, and all that. Not so sure I can go further, but you know where we stand. We dig you all. And we'll have the best of Gary on Friday. Hey, this is a show about everything that affects you. And in case you don't know, we're dead serious about everything we talk about right now. We never used to have to talk about things we are talking about now.
Starting point is 00:01:58 We never used to have to talk about massive deficits and debt. We never used to talk about massive corruption and insider trading by the people run in this country. We never had to talk about the Biden family, the Trump family. We've never had to talk about massive interference with our lives. We've never had to talk about unbelievable amount of, amounts of we call control freakism, socialism, Marxism, the things that this country has been completely against. the lessening of our freedoms, which includes the markets. We've never had to talk about that, but we noticed it years ago.
Starting point is 00:02:43 And it's gotten worse, and it's gotten worse, and it's gotten worse to the point where I was going to run for office. Imagine me ruining my life to run for office to do something about it. And then I was scared straight by a bunch of political operatives. I explained that to you before. But I digress. Lots to cover today. The markets, indictments, the city of Chicago and the voters there. And if you don't think that matters, I can't help you.
Starting point is 00:03:25 The job markets yields. Why are yields so important? You ever been to, let's see, a high school basketball game and the cheerleaders are on the sideline and they have these bullhorns and if your ear was ever next to the bullhorn while they're saying
Starting point is 00:03:53 N-O-T-H-I-N-G that's what so-and-so means to me at their loudest and your ears just pop off by the way that was in North Miami Beach high school cheer at the time well yields are screaming and combine with the things we have seen over the last couple of weeks and accentuated the last couple of days we got to talk we hope you are listening again we're dead serious about it whether you are or not so first if you do not get this radio show in your city. We'll post it at garyk.com. We'll also post it on our Twitter feed where we
Starting point is 00:04:39 once had 90,000 Twitter followers and overnight we went to 30. And we called up to, well, we emailed Twitter and like three months later, they got back to me. And then they shut me down for a day because I wrote that Bernie Sanders' economic policy is communistic. They shut me down for a day why the mullers in Iran are calling for Israel's death, but little old me, they shut down those clowns. And of course, you can email me just be nice. And I have to tell you something. I got one email today from a guy who says he likes me.
Starting point is 00:05:18 I know what he says to me? I'm pro-money and pro-materialism. And I just wrote back, if you're going to put me down whenever I have a conversation ever again. Then he wrote me back. He believes I'm a mensch, though. That he didn't think he was insulting me. I'm pro-materialism, and that's not an insult. Don't you love people?
Starting point is 00:05:41 Anyway. So if you email me, just be nice. Why? Because we're nice. We're just very nice. And if you disagree with us 1,000% we'll respect you. We'll have the right to disagree with you 1,000%.
Starting point is 00:05:58 But we'll respect you. as long as you live within the rule of law. Okay. So where do we want to start? Let's get it out of the way a few things. Trump. As usual, does himself no favors. As we stated to you, and we are no Trump fan,
Starting point is 00:06:22 the fix is in this indictment. And again, let us repeat, we're not claiming innocent or guilt. And he's innocent before guilty no matter what. In spite of what Nancy Pelosi said, this is about if he was a Democrat and a friend of the DA, there would never even be an investigation. That's what we mean by the politicking of indictments. That's what's going on here.
Starting point is 00:06:51 Again, he may be guilty. And the fact that the matter is, the guy is an ass clown. Oh, yeah, let's cheat on our wives of porn stars and pay him off. More than one. Yeah, great. What a nice guy. Let's trust him. And you know, I've always said, I never want to be friends with somebody who cheats on their wives.
Starting point is 00:07:11 Why? If they cheat on their wives, how can you trust them with anything? The wife is the most sacred of people you married. So Trump, he can take them or leave him for all I give a crap. But again, let me repeat, this is a con. It's a scam. In that, again, innocent or guilty, whatever. If this was a Democrat, it would not have been done.
Starting point is 00:07:33 It is pure politics. Just let's let you know. But as usual, Trump does himself no favors. He's his own worst enemy. He comes out last night and does a speech and is his usual moron self. And I hate the fact that the family comes out and puts a picture up of the judge's daughter in this environment where there's a bunch of crazies out there. And you put the judge's daughter in harm's way.
Starting point is 00:08:02 she's got a higher security that's the Trump's sons those two clowns where is their class idiots and I would say it to their face I got Newsfea if they did it to my daughter
Starting point is 00:08:24 I'd be knocking at their door so he did himself no favors but bottom line the Trumpsters are going to stay Trumpsters and the anti-Trumpsters are going to stay anti-Trumpsters that's all that's going to go on here and what they're going to try and do is string this out
Starting point is 00:08:43 into the primaries. I don't know what their goal is. I got to tell you, I don't know what their goal is for him to win the primary or lose the primary at this point in time. Just so you know, there's no jail time on this if he's found guilty. So whatever.
Starting point is 00:09:03 Welcome to our world, and this is how you get to $32 trillion of debt. This is how you get to every day, $4 to $5 billion added to our debt and grows every day. And every day, two to two and a half billion of our tax dollars
Starting point is 00:09:17 goes towards the interest on the debt that all these nubskoles put us into over the past decades. So I got that out of the way. Chicago, the two biggest problems in Chicago is education. Go look at the numbers
Starting point is 00:09:35 about people who can't read and can't do math because the education system has let them down. And the other problem is crime. And you read about that every day. they voted in somebody who wants to defund the police and stay status quo with the unions and the education over somebody who wanted to hire a hell of a lot more police and get strict on it and do something about education.
Starting point is 00:10:03 Blame the voters. And by the way, each individual is a vote. You got to add up the votes. And I think it was 51 and change to 48 in change. So they got rid of a moron mayor in Chicago and they just went worse. and then they're going to wonder why crime remains rampant there where people can't walk down certain streets where doors are shutting
Starting point is 00:10:28 and companies are leaving the city and they're going to wonder why and by the way this guy that just won wants higher taxes even more taxes on a high tax city but they keep voting them in anyway how to mention Chicago and by the way the other part of the Trump thing
Starting point is 00:10:50 Do you know who showed up to defend Trump last night right in front of Trump Tower? George Santos, a gargantuan fraud of a human being that's a congressman? Yeah, I want him to defend me. All right, up next, Markets, lots to discuss. Thanks for being here. 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.
Starting point is 00:11:41 We manage investors' money for a living, specialized. 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, 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, call us to make an appointment for complementary portfolio review. The number to call is 888-422-5-5-9. That's 888-4-2-5-9. That's 888-4-8-8-4-2-4-2-2-5-9. Investment Advisory Services offered
Starting point is 00:12:32 through call-bomb capital management. For many men, mental health challenges aren't recognized until they've already taken a toll. Work pressure, financial stress, changing relationships, and traditional expectations around masculinity can quietly wear men down, often without clear warning signs. In season three of the visibility gap, Dr. Guy Wynch and his guests explore how these pressures show up, how to spot them earlier, and how men can access meaningful support. Listen to the new season of the visibility gap, a podcast presented by Cigna Health Care. When energy dips, your reviving routine deserves more than a quick fix. Reach for vital proteins, collagen, and protein shaking chocolate.
Starting point is 00:13:13 With 30 grams of protein and 10 grams of collagen peptides, it helps support. Poor healthy hair, skin, nails, and joints, and a smooth, ready-to-drink, shake. So your afternoon reset actually sets you up for success. Vital Proteins. Stay vital. Visit VitalProtene's.com and get started. These statements have not been evaluated by the Food and Drug Administration. These products are not intended to diagnose, treat, cure, or prevent any disease. It's time to switch on the integrator units and get the brain cells working.
Starting point is 00:13:45 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. All right. Four weeks ago, five weeks ago, six weeks ago, we said to you,
Starting point is 00:14:13 and I'm pretty much quoting myself, that timing is everything. And we think the next, I think we said 90 days, three months. Yeah. We believe the job market is going to worsen to the point where you're hearing about it. The reason we said that is because we have a better ear to the ground than the clowns in D.C. that have a thousand analysts. The ADP report came in. Growth of 145,000 jobs. The estimates were 205,000. Now, that's only one number. On Friday morning, we'll get an employment number. We'll see. but we're just letting you know it's loosening up we don't know if it's going to get bad we think the job market is loosening up the jolts
Starting point is 00:15:19 thing came in yesterday there's less jobs available too let me repeat what we said we think that the job market's going to worsen we really do not know if it's going to get really bad we already know there are areas that, and for obvious reasons, the crypto business, technology that just went overboard during COVID, media companies, you know, a lot of these areas, mortgages, mortgage business, even though interest rates have come down a lot from the highs. And we'll see. Just getting, it's our feel. And we hope you listen to the best. becoming very not expendable if you work for somebody else it's probably the smartest thing we've ever said to our audience in the years we have been here make yourself
Starting point is 00:16:20 as about as important an employee as can be at your firm so the ADP comes in a little bit and we we have no idea what they're going to come in with Friday and maybe the number will be strong I don't know we just think overall We're hitting the ceiling. And now we'll watch to see if things worsen. Next. So yesterday, and we've been telling you how narrow the market's been, we have highlighted for you that the top 1, 2, 3, 4, 5, 6, 9 names in the S&P
Starting point is 00:17:02 contributed to 160% of the S&P gains. from the beginning of the year. That means the other 491 are down. And of course, the nine names, what do they all have in common? You ready? Apple, NVIDIA, Microsoft, Facebook, Tesla, Amazon, Google, Salesforce.com, and advanced microdevices.
Starting point is 00:17:27 They are mega-cap tech. You know what else they mostly have in common? Amazon earnings down 90%. Facebook down 50%. Microsoft down, not much but down, NVIDIA 50%, Apple's down, Google down 19%. Salesforce.com last quarter did recover.
Starting point is 00:17:48 I'll give it that. And I believe AMD was down 25%. Need I say more, they better all recover. Three of them, Apple, NVIDIA and Microsoft contributed to 91% of the gains of the S&P. That means 497 names contribute only 9%. That's what we mean by too much influence. Apple, Microsoft, Amazon, Google, Tesla, Nvidia, and Facebook made up 24% of the S&P.
Starting point is 00:18:26 Seven names, 24%. 493 names, 76%. And 51% of the NASDAQ 100. And guess what's been doing the job? We just highlighted for you. So we just been posing the question, what happens if they start getting those? And until today, they weren't getting those. And they got them a little bit today, nothing really bad.
Starting point is 00:18:57 But we started really worrying about the markets again, the last couple of days. Because of the bad, advanced declines, the bad New Yearly highs versus New Yearly lows, which actually new yearly lows versus new yearly highs because there's a lot more new yearly lows than new yearly highs. And yesterday, on top of the crash we have seen in the financials of all stripes, and we mean all stripes, they have been crumbling in the past couple of days, anything and everything that does best with the strong economy but does worse. going into recessions, if not worse. And today was another bad day for those names.
Starting point is 00:19:50 And on the other end of that spectrum, when the economy is doing its best, defensive issues don't do as well, but when economies get in trouble, defensive issues do best. And what do we mean by defensive? What were they called recession-resistant? What would we mean by recession-resistant?
Starting point is 00:20:12 Well, you need your drugs. You need to eat. You love your soda and your beer. You need detergent and soap and shampoo and diapers. And for you maniacs, tobacco. I don't know how anybody smokes cigarettes, man. And guess what? In the last two days.
Starting point is 00:20:42 Hershey's chloride. Coke, Pepsi, Kimberly Clark, smuckers. So remember what I said about the bullhorn? Market's screaming economic trouble here. And let me add in another. You ready for this one? The 10-year yield is down to 3.287. The three-month Treasury bill is at 4.85. Wait, hold on. You're telling me the three-month Treasury bill. The three-month Treasury bill is at 4.85. Wait, hold on. You're telling me the three-month Treasury bill. Treasury bill is 4.85 in the 10 years 3.287 isn't supposed to be the other way around. Yes. But it's called an inverted yield curve because the bet now is those short-term racers are going to crash. And the market itself, the free markets, the big bet is we're going to have some economic troubles in here. And it's by no accident, airlines, cruise lines, hotels, Caterpillar and Deer. and United Rentals and Snap-on tools and Parker Hanofin and Martin Marietta materials are getting smacked while today in the Dow Johnson and Johnson up seven United Health up 16 Walmart up two yeah Walmart's defensive retail Procter & Gamble up one so if the market has a bullhorn it's using it right now more on that up next on this the one only investors edge For many men, mental health challenges aren't recognized until they've already taken a toll.
Starting point is 00:22:47 Work pressure, financial stress, changing relationships, and traditional expectations around masculinity can quietly wear men down. Often without clear warning signs, in season three of the visibility gap, Dr. Guy Wynch and his guests explore how these pressures show up, how to spot them earlier, and how men can access meaningful support. Listen to the new season of the visibility gap, a podcast presented by Cigna Health Care. When energy dips, your reviving routine deserves more than a quick fix. Reach for vital proteins, collagen, and protein shaking chocolate.
Starting point is 00:23:19 With 30 grams of protein and 10 grams of collagen peptides, it helps support healthy hair, skin, nails, and joints, and a smooth, ready-to-drink shake. So your afternoon reset actually sets you up for success. Vital Proteins. Stay vital. Visit VitalProtene's.com and get started. These statements have not been evaluated by the Food and Drug Administration. These products are not intended to diagnose, treat, cure, or prevent any disease.
Starting point is 00:23:43 By the time I hit my 50s, I'd learn. learned a few things. Like how family is precious. Work can always wait. And 99% of people over 50 already have the virus that causes shingles. Not everyone at risk will develop it, but I did. The painful, blistering rash disrupted my life for weeks. Don't learn about your shingles risk the hard way. Talk to your doctor or pharmacist today. Sponsored by GSK. Investors Edge He's got to be pleased with that The crowd is just on his feet here
Starting point is 00:24:25 He's a Cinderella boy With Gary Colbomb It comes highly recommended You're gonna feel better if you talk to him And welcome once again to Investors Edge And I must tell you I've been watching some pundits on TV Oh the market's so bullish
Starting point is 00:24:52 And I'm like, what the hell are they looking at What kind of sbleaf are they smoking Bullish? I have got the financials crumbling By the way the financials are very very, very very, very, very stretched, extended and oversold right here, and they're probably going to bounce, but that's only because they've crumbled. Retail stocks, smashed. Airlines, cruise lines, truckers, rail, smashed. Economically sensitive stocks, smashed. Caterpillar, deer, Agco, smashed.
Starting point is 00:25:36 Smash, smash. Smash. Oh, but it's a bull market. Really? Because of a select few mega caps? okay we'll see what tomorrow brings so here's what the market did today it accentuated the defensive issues to the upside and when we say upside you don't get much out of Hershey's but it's up a few bucks they accentuated everything economically sensitive to the downside remember how we told you managed care stocks were like defensive they popped again today what they did come after for finally was some of the mega caps, not bad, but underneath those mega caps were names that followed suit, but are already crumbling a lot. And you don't we already think about all this
Starting point is 00:26:36 things at the bottoms that have come up some, you know, the crowd strikes and the paypals and the like, they're crumbling again. Now we get asked, well, Gary, if we go into recession, doesn't that mean the Fed's going to lower rates? Yes. Well, isn't that good for markets? Not so sure at the outset of recessions. And let me explain that part. Remember we talked about don't take a $5 bill to trade in for a dollar? Well, valuations are very high. That's number one.
Starting point is 00:27:15 And earnings, we've been quoting earnings to you and they stink. A lot of them are down. That is a one-two punch if it doesn't change. two high valuations historically and earnings dropping, which makes valuations even higher. We'll keep watching day to day. We're just letting you know today, and we're going to give you the Dow number in a second. You know, we've also taught you you don't want the Dow to be up and advance the clients to be negative 2 to 1. Tells you the underlying market.
Starting point is 00:27:55 Hey, guess what happened today? So it's just a day, but it's now been a few days of this ick, especially economically sensitive. and it's also a day where they came after a bunch of things that were doing okay. Today's market wrap is brought to you by Investment-Models.com. That's Jim Roerback, 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-mottles.com, are you ready?
Starting point is 00:28:26 The Dow was up 80, but advanced declines were 14 to 24 on the New York. Now, listen carefully. If I take Amgen, biotech defensive, somewhat, Johnson and Johnson, drugs. Oh, by the way, Johnson Johnson was up seven today on the news. Oh, they have to pay $8.9 billion because of the Talcum powder thing. It's a good reason for a stock to go up. Merck, drugs, United Health, HMOs, managed care, getting paid a lot of money by Medicare. and Procter & Gamble.
Starting point is 00:29:06 I add up those names. That's 13, 16, 17, and 16. Let's call it 33 and 1. It's $34. They were up today times 6.78. They were up 231 Dow points, but the Dow was only up 80. Catching my drift?
Starting point is 00:29:32 Very defensive day in the market. By the way, I can add Walmart to that because it's a defensive retailer. What do you mean by defensive retail? Well, market will flow to the mega caps. But the S&P was down 10 and the NASDAQ 129, NASDAQ 100, 132. Transports 111. And listen to this on the NASDAQ, 1,400 up, 2800 down. And you ready for this on the NASDAQ?
Starting point is 00:29:59 Only 50 new highs, 244 new lows. but we also know we look at the new highs on the NASDAQ, there really isn't 50. Because as I look, I know I'm going to find some of that crap SPACs crop, crap. Yeah, the crap spacks. And I can tell you that the Treasury 30-year bond is at a yearly high and that's on the NASDAQ. So let's see. If I look at the NASDAX here, let's see how many highs I can find. Mondaliza food stock one.
Starting point is 00:30:26 AstraZeneca drug stock two. Regeneron of biotech three. No, that's not Oh, that's a zero sales biotech. I'm not even going to mention that one. I got three new yearly highs on the NASDAQ, not 50. Activision, that's one more. Four.
Starting point is 00:30:50 On the New York, Oracle, and full disclosure, I own a little bit. New Yearly high, even though it's a four-letter symbol. A Boston Scientific, Medical. Anglo-Gold. Gold. McDonald's, well, that finished down today, but still close to highs. Alamos gold, another gold, one insurance stock that's strong, progressive, Hershey's, World Wrestling Entertainment, but that's a buyout.
Starting point is 00:31:21 Novartis, a drug company, Mondalese, again, food. I already mentioned that one because it's in both. And that's your new highs on the New York. And what does that mean? They ain't a lot of leadership, kids, and anything that is kind of leading right now is quite the defensive. So best way I can put it, stay tuned. And if by chance, and it did not happen today, though they were down today, if by chance I'm able to come on to this show and say to you, they're done. And what am I mean by done? Those seven to nine names that have ridiculous
Starting point is 00:32:06 amount of influence on the indices, that can be some trouble because major influence on the indices. And it would call into question my thoughts on the parking of money. Remember, when markets de-risk, these big funds that have to be fully invested have to find a place. And they will go into the most defensive, which I've already highlighted, and the most liquid name, until they got to go after them too. And what's been the liquid strength? Apple, Microsoft, Nvidia, some other biggies to a lesser extent.
Starting point is 00:32:57 And as I said to, Apple's earnings are down, and their valuation is double what their norm has been for the last couple of decades while their earnings are down. and video earnings down 50% last couple of quarters Facebook but you got that artificial intelligence thing which by the way we're learning about we'll talk about it more in the next couple of weeks
Starting point is 00:33:21 let's just hope we never get into an iRobot movie situation stay tuned kids the dow-up 80 and advanced decline sucking today you want to see the opposite and man oh man they are coming after anything economically sensitive now some of the bombed-out stuff i expect them to bounce financials insurance to a certain extent but they are in brutal drops imagine if you had climbed up a rope at 10 12 feet and then somebody took vaseline and covered the rope that's what the financials insurance stocks did
Starting point is 00:34:18 you know what happens right then and there you're toast you're down to the ground eventually they're going to try and climb up the rope up next I think we've been self-explanatory or good explanation more on this that and the other thing
Starting point is 00:34:42 whatever else I'm Gary this is the one only investor's edge for many men mental health challenges aren't recognized until they've already taken a toll Work pressure, financial stress, changing relationships, and traditional expectations around masculinity can quietly wear men down. Often without clear warning signs, in season three of the visibility gap, Dr. Guy Winch and his guests explore how these pressures show up,
Starting point is 00:35:38 how to spot them earlier, and how men can access meaningful support. Listen to the new season of the visibility gap, a podcast presented by Cigna Healthcare. When energy dips, your reviving routine deserves more than a quick fix. Reach for vital proteins, collagen, and protein shaking, with 30 grams of protein and 10 grams of collagen peptides. It helps support healthy hair, skin, nails, and joints,
Starting point is 00:36:01 and a smooth, ready-to-drink shake. So your afternoon reset actually sets you up for success. Vital Proteins. Stay vital. Visit VitalProtene's.com and get started. These statements have not been evaluated by the Food and Drug Administration. These products are not intended to diagnose, treat, cure, or prevent any disease. By the time I hit my 50s, I'd learned a few things. Like how family is precious.
Starting point is 00:36:26 Work can always wait. and 99% of people over 50 already have the virus that causes shingles. Not everyone at risk will develop it, but I did. The painful, blistering rash disrupted my life for weeks. Don't learn about your shingles risk the hard way. Talk to your doctor or pharmacist today. Sponsored by GSK. You're listening to...
Starting point is 00:36:53 What are we waiting for? Well, what are you waiting for? One, two, ready, go. Action! Okay, so you know how life works with markets. The most emails we get are on things that have made a move. So we're getting a lot of emails on gold and silver now. I can tell you flat out this lady.
Starting point is 00:37:33 We have not bought any, but we. really like the look of the gold and gold miners into January, and then they just twank the heck out of them. Twank is a bad word, meaning going down. This move that's been going on for two and a half weeks, we have not touched. So we're the doofuses, but not a biggie. It's not like it's an outrageous move. We're getting calls from people worried. There's gold moving because of so-and-so.
Starting point is 00:38:10 Who knows? All we can tell you is, as far as gold is concerned, man, there's a long-term, hasn't done it yet, potential breakout of a big long-term trading range, hasn't happened yet. If it does, usually means it's got higher prices to go. my little stupid best guess probably want to wait for pullbacks first here but that's a guess because when you deal with commodities it is somewhat the guesswork but definitely trend up the miners are underperforming
Starting point is 00:38:53 but have been playing some catch-up and there's been a couple of movers that have gone pretty much elevator up over the last three or four weeks like symbol A.U. South African gold producer. And if you want, go take a look. So right here, I would hope to get pullbacks first before entry. Can't guarantee it. What I just can tell you, the market has decidedly gone defensive. Do not be listening to these pundits. Oh, we're in a bull market. They're full of or they just don't do their work or their job. And all you just got to do is go look at the KRE, which is the regional banks index,
Starting point is 00:39:46 that basically looks like the south end of a northbound jackass with diarrhea. How to throw that last part in. Sorry about that. That's not a good picture. But that's how bad it's been. Now we're also being asked, do I think there's more shoes to drop as far as banks? My guess is yes. And I say that because stock prices will dictate.
Starting point is 00:40:17 Silicon Valley Bank did not go out of business because of anything except they couldn't raise any more money because their stock price crashed. If others see stock price crashes, their stock price crash from here, that'll do the track. And in case you don't know, there's been some sales. First Republic Bank was saved. By the way, the stock has gone from 148 in late January. It's 13 today. And they got saved and it's 13 bucks. So I remain worried. I'm not buying any regional banks. I'm not buying the JP Morgan's either. And that's the one all the pundits saying, you just got on JP Morgan. Okay, great. And guess what? It is the stalwart. It's the one that stood tall in 08 when things were crumbling or around everybody. But even that has gone from 144 to 127 in three weeks. A lot better than First Republic. But as we always do, we keep a watch on everything. And I will tell you every night we will scan about 50 banks. Takes me one minute. Ding, ding, ding, ding, ding. They come up one after the other. To see, do we see any defense? What do we mean by defense? I can draw a line
Starting point is 00:41:50 under price that they refuse to go under. Not sure I got that just yet. But leave no doubt. Most have stopped going down in meaningful fashion. But leave no doubt. That's only because they've crumbled already. Kind of like my New York Giants against Philadelphia in the playoffs. Happened quite quickly.
Starting point is 00:42:21 They were out of the game in the first seven minutes. Oils, I'm agnostic here. Big gap up. two days ago, came down a lot yesterday. Not sure. I can tell you that there's really not any leadership there. Some recovery may need some time. I do know if oil prices stay up here. Right here for the next two weeks. Oil prices, gas prices will be up pretty decently. Sorry, not my fault. And that's your run day. Tomorrow I will be on with Varnie and Company on Fox Business Network, 10 a.m. hour, usually at the top of the hour.
Starting point is 00:43:18 Keep watching. Friday, we're off. And again, we wish everybody a happy and healthy holiday weekend. We will have the best of Gary. To give you an idea what I'm going to be doing tonight on my scans, a lot of breakdowns. A lot of breakout failures. And you know what air? areas, the growth tech areas that everybody's been yelling about. As far as the big names, the mega caps. I don't see anything untoward yet, except probably the last couple of days. We'll mark a ceiling for now, and we'll know in the days ahead. Starting next, I believe, Wednesday or Thursday, bank earnings, the big ones.
Starting point is 00:44:03 The week after, we start getting everything. and in the two weeks subsequent after the banks, everything from A to Z that matters. So stay tuned. We shall be on top of it. That all said, you have a great evening and drive carefully when you get home, do like we do. Make sure you hug your children. By the way, tell me a lump a couple of times, especially if you have it.
Starting point is 00:44:33 Get some exercise in. Alcohol sucks. Marijuana is overrated, even though our kids. government thinks it's cool now. New York City's a big gigantic bang hit. Just go walk it right now. Until tomorrow, always honored that you are present and listening. Have a great evening, everybody. Thanks for joining us. Same time tomorrow. Bye-bye. This has been Investor's Edge with Gary Cult Bomb on Biz Talk. To listen to past episodes or to get in contact with Gary, go to GaryK.com. That's GaryK.com.
Starting point is 00:45:13 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. By the time I hit my 50s, I'd learned a few things, like how family is precious. Work can always wait. And 99% of people over 50 already have the virus that causes shingles.
Starting point is 00:45:56 Not everyone at risk will develop it, but I did. The painful, blistering rash disrupted my life for weeks. Don't learn about your shingles risk the hard way. Talk to your doctor or pharmacist today. Sponsored by GSC

There aren't comments yet for this episode. Click on any sentence in the transcript to leave a comment.