Investor's Edge with Gary Kaltbaum - Normal After Last Week.

Episode Date: May 31, 2022

More Info At: http://garykaltbaum.comMore

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. Investors Edge with Gary Coltbaum. Straight talk about you and your money. Now from the BizTalk Studios, here is Gary Coltbaum. And welcome once again to Investors Edge. I'm Gary Coltbaum,

your host day. Thanks of being with us today. Glad you're here, ladies and gentlemen, happy that you are listening. It is the non-COVID, a little bit ill, addition of Investors. edge. My wife has it. I just got it today from her. But I actually feel fine. Just don't sound that great. Non-COVID, though, you know, that's a new big thing, right? Whenever you get sick. Is it COVID? Is it not COVID? What do you think? I don't know. Anyway. Hope you had a great Memorial Day weekend. I must tell you, I vegetated. I relaxed for three days. Hung out with Winston, sat in the sun for a little bit, walked around, but just mostly just hung.

Relaxed. Took it easy. Hope you had a safe and pleasurable one yourself. Hey, you know, this is a show that pulls no punches. We can't stand any of them. No, really. You know that, right? We have all the evidence we need to be in nobody's camp. You know that, right? $30 trillion of debt? They spent $30 trillion more than they were supposed to. Just so you know, they were never supposed to.

Medicare, Medicaid, Social Security, that basically, it's all OZs, and they're going to have to play with that going forward. The list goes on and on at the bull crap that is going on. So I just want to start the show today with my biggest worry. I know. Gary's coming back with his biggest worry. The people running the show. Today, Joe Biden met with Jay Powell.

Nothing personal. They both don't have a clue. Nothing personal. They should not be handling our economy. Nothing personal, they don't understand the economy. Nothing personal, their status. They don't believe in free markets, free economy. Nothing personal, they're socialists.

Nothing personal. Jay Powell's done nothing more than play God with the markets. nothing personal. They screwed over savers with zero percent interest rates, bubbled up asset prices, which have all popped to smithereens. Nothing personal.

Joe Biden blames everybody but themselves. Nothing personal. You know why Joe Biden brought Jay Powell to the White House today? He knows. He knows. He needs a foil. Who can I blame?

His first words today were, the Fed, the Fed, the Fed. They're the ones to handle inflation. It's not us. We got nothing to do with it. When asked today whether they take any responsibility on inflation, the White House said, So what did you think of the Mets game last night?

By the way, they won. You catch my drift? I can't say that the two work people possible, and long with Janet Yellen, I can't say the three worst, because there could be Bernie Sanders, Elizabeth Warren, Nicholas Maduro from Venezuela, anybody with the last name Castro from Cuba, Gary, you comparing them? If they ever had the reins, God only knows. So we're just letting you know our worry. They cause the problems.

And just so you know politically, you know what pundits are doing, right? They're blaming Biden for everything. They don't want to blame Powell because it's not politically good for them. Remember agendas, ulterior motives? We don't have any. We can't stand any. So what they're doing is blaming Biden for the whole thing. No.

It's 75% Powell. 25% in Biden, but then you have to go backwards. You got to go to Trump, 7 trillion of debt under him. You got to go to Obama, 8 or 9 trillion under him. You got to go to Bush. You got to start with Bernanke. Remember we told you about debt. Up until Bernanke started printing money,

our total federal debt throughout our whole history, 10 trillion in 12-plus years. add another 20. How did that happen? He opened the spigots, 0% interest rates. So we repeat, that's our biggest worry. You know what the best thing they can do and they don't know it? And I've sent the message to the Biden administration. I've sent a message to them, whether it got through or not, I don't know. Tell the Fed to just leave everything alone. Go away. Just do nothing. You're already behind. You already screw things up. The more do the worse. No, really, just go away. And with Biden, stop. Stop with the big spending.

Stop with the higher taxes. Go to the election. The Dem's going to lose their ass. We'll get gridlock and just go away. And let us be. And we'll figure things out without you. Just remember, these people don't have a clue. Joe Biden's been in politics for 50 years. What has Jay Powell ever done in the real economy. Nothing. So we just wanted to start with that just to, you know, start your day off. We wish we had better news. Wish we had better news. Oh yeah, Jay Powell was an investment banker for six years. And then boom, right into politics. Anyway, good week last week in the market, overbought in a short-term basis. I had no thoughts of what would happen coming in this week, except that there's still not a lot of leadership in the market. The only real leadership

has been energy stocks, oils, some commodities, a smattering of other things. You've had some better things come off the lows last week because the whole market did. But overall, the thought process, not great. Not great. So we'll take it. it one day at a time and we did a whole dissertation last week for you guys on what not to listen to I can tell you flat out there's no reason to be bullish there's no reason to be bearish let things play out from last week the big picture hasn't changed though but near-term that's what we mean I'm not bullish or bearish near term think we can go higher just as easily as we can pull back that's the thought process

It's a quiet earnings week. I do know Salesforce.com is reporting after the close. They'll report in a few minutes. I don't expect anything that great. But the stock has been trashed. The stock has crashed. Maybe it bounces a little bit. Don't know.

Somewhat of importance. I do know estimates of them to be down year over year in earnings. And we'll see. A few other thoughts. just watch oil prices and just watch yields if they keep going high or meaningfully nothing good

price at the pump relentless yields it pull back to the 50 day moving average normal in a bull market and today they bounced off of it pretty decently normal in a bull market next move we'll find out soon enough just don't be crazy here there has been a ton of money lost,

unprecedented for many names, stunned by how many names, have been absolutely crushed. A lot of it does rival 2000 to 2003. Never thought we'd ever say that again. Up next, full market wrap, movers of the day, news of the day. Whatever I can think of today, I'm Gary.

This is the one only investor's edge. Hi, I'm Gary Kalbaum, hosted a nationally syndicated radio show Investors Edge. We're not just handsome radio people. We manage investors' money for a living, specializing in fee-based discretionary money management. 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, will 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 a complementary portfolio review. The number to call is 888-4-22-559. That's 885-9. That's 888-4-2-2-5-5-9.

Investment Advisory Services offered through Call Bomb Capital, Capital, management. All right, quick quiz for the hiring managers out there. What's worse? Being understaffed or being poorly staffed? Well, that's a trick question, because both are recipes for chaos. Either way, just say to yourself, this is a job for Indeed's sponsored jobs. You'll get matched with candidates that meet the skills, certifications, and everything else you're looking for. Or, go a different way and get no traction. Seriously, sponsored jobs posted directly on Indeed are 95% more likely to report a higher than non-sponsored jobs. It really is a no-brainer. Spend less time searching and more time actually interviewing candidates who check all your boxes. Less stress, less time,

more results. When you need the right person to cut through the chaos, this is a job for Indeed sponsored jobs. And listeners of this show will get a $75 sponsored job credit to help your job get the premium status it deserves at Indeed.com slash podcast. Just go to Indeed.com slash podcast right now. Terms and conditions apply. Need to hire? This is a job for indeed sponsored jobs. Struggling to see up close, make it visible with Viz. Viz is a once daily prescription eye drop to treat blurry near vision for up to 10 hours. The most common side effects that may be experienced while using Viz include eye irritation, temporary, dimmer, dark vision, headaches, and eye redness. Talk to an eye doctor to learn if Viz is right for you. Learn more at Viz.com. 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. And welcome once again to Investors Edge. A little bit of the cold and flu edition, though I don't have the cold and flu, just a little bit of whatever my wife gave me.

How dare she? But she is non-COVID. We took two tests. That's the new thing. got to get a COVID test, got to get a COVID test. No, really, let's get a COVID test. So we just wanted to start out that at the White House today, two people that don't have a clue. And one man who can still play God with the markets that is so stupid that he doesn't realize the reason he was brought to the White House is to be the fall guy if things were.

person, the person to blame. Unbelievable that he fell for it. He fell for it. And the first line out of Biden's mouth, the president, I believe the Fed's independent and their job is to fight the inflation, the fall guy. Little does Joe Biden know and too stupid to understand that the seeds of inflation came from J. Powell. No doubt. Think about it. They're trying to pass it off. No, it's not J. Powell. Who did all this happen under a central bank head? And what did the central banker do before inflation hit? Oh, we printed trillions of dollars, went to zero percent. By the way, he was printing before COVID. This is a gimme. It's a gimme. It's an absolute gimme. like the sun rising in the east and setting in the west,

it's a gimmy that all of this comes from Powell. And then, stupid policy. And then Russia, everything was already elevated before Russia hit. And the problem we have is the market is pretty smart. They're reading all this. The big money is having meetings. and listening to all this. They said what?

Sell. They said, what? Sell more. What did they say? Oh, really sell. Now, as I said, oh, we received 100 emails over the three-day weekend. Do you think this is the bottom?

I answered all the same. Don't know. But odds favor, at best, we'll do some retesting. And we'll know more at that time. But as we've reported to you, the facts. Bare market rallies are the norm in bare markets. The interesting part about this bare market, the longest rally we've had in days, was only 11 trading days. Got to think we've got to have one better or longer.

Do you know what bare market rallies do? Especially the ones last a couple of months. Never get back near the highs, but we're not going down anymore. It gets somebody without a keen, I. All bullish again. You see, told you. The bottom was two months ago.

Not knowing and not studying. It's very normal to have two and three months counter trend moves before another big leg down. Now, we're not saying that's happening here. We're just letting you know that is a definitive outcome, a definitive possibility outcome. And we'll know when we had that 11-day rally, the market stopped going up. We had two good days of distribution. We warned, and then we had the confirmation to the downside, and that was the see-ya, wouldn't want to be you. So the market will give definitive clues.

Absolute definitive clues. That's why we're not worried. And we'll take it for what it wants to give us. And then, of course, third week in July, tons of earn. and we'll get a better understanding. The reactions. Now, we've had very good reactions to bad earnings recently, and I had people ask me about that. Gary, haven't you always said good reaction to bad earnings? Well, it just happened to be right around the time that the market was putting in a good near-term low after getting trashed. The reason why Nvidia's rallied up

on crappy numbers is because it was already down huge. So you get that counter trend. But how long that lasts? That'll be another story. My trust remains very, very low. The new yearly high list today, all energy, and that reverse to the downside. Energy stocks at this point in commodity stocks should only be bought

on pullbacks. And as far as the rest of the market, just a hell of a lot of slop as all these bear market stocks of differing levels, bounce up, pull back, bounce up, pull back, but just getting back a little bit of the bear. And when I tell you, we remain stunned at where some of these stocks are. Oh, we mean it. I was just noticing snap. 83 down to 14. This is not a fly-by-night.

83 down to 14. Stunning. PayPal. I made decent money on the stock in the bull market. 310 to 85. Oh, let's stop that. Up next, today's market wrap. Much more.

This is the one-only investor's edge. All right, quick quiz for the hiring managers out there. worse, being understaffed or being poorly staffed? Well, that's a trick question, because both are recipes for chaos. Either way, just say to yourself, this is a job for Indeed's sponsored jobs. You'll get matched with candidates that meet the skills, certifications, and everything else you're looking for, or go a different way and get no traction. Seriously, sponsored jobs posted directly on Indeed are 95% more likely to report a hire than non-sponsored jobs. It really is a no-brainer. Spend less time searching and more time actually interviewing candidates who check all your boxes.

Less stress, less time, more results. When you need the right person to cut through the chaos, this is a job for Indeed sponsored jobs. And listeners of this show will get a $75 sponsored job credit to help your job get the premium status it deserves. At Indeed.com slash podcast. Just go to Indeed.com slash podcast right now. Indeed.com slash podcast. Terms and conditions apply. Need to hire?

This is a job for Indeed. D's sponsored jobs. and earning thousands of five-star trust pilot reviews, On-Dec delivers funding you can count on. Apply in minutes at OnDec.com. Depending on certain loan attributes, your business loan may be issued by On-Dec or Celtic Bank. On-Dec does not lend in North Dakota

all loans and amounts subject to lender approval. You're listening to. America is talking. Investors Edge. He's got to be pleased with that. The crowd is just on his feet here. He's a Cinderella boy. With Gary Coltbaum.

It comes highly recommended. You're going to feel better if you're. talk to him. So uh salesforce.com in the Dow I got it up eight bucks in the aftermarket to 168. We just want you to keep in mind. May 4th it was 186. March 29th it was 222. The high of November was 312. It's 169 in the aftermarket from 312. And by the way, earnings were down. third quarter in a row. So we'll just call this another one. And by the way, their numbers, not so great.

We'll call this another one of it's so far down. And we're just going to give it some relief on earnings. Today's market wrap, a wippy market wrap. Brought to you by Investment Dash Models.com. That's Jim Rohrabach, 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 Dow was down 400. It was then up, dropped to over 200, back to flat, and finish down 222. Just keep in mind, we'll accentuate the positive. From 520, it was up 2400 points. from the reversal day and last week. So it's normal to pull back some today. And if Salesforce.com opened, let's see, that'll be 9 times 6, 60 points tomorrow.

S&P down 26, NASDAQ only down 49, NASDAQ 100 only down 39, and I can tell you they were outperforming all day, but Amazon was up 100. That was a help. Not impressed. Though it did have some volume, Amazon's in a bare market. Google was up 29. So it was a couple of those biggies. But overall, not the worst day, considering down 222. Transports 143, advanced declines, almost 2 to 1 on the New York negative. Nasdaq almost 18 up, almost 27 down. New highs were all energy, but they pretty much all finished down. So there's really like new closing highs today, none. Yields up a stick on the 10-year back to 2.844.

And if you want to take a look at the 10-year yield, right off the 50-day, let's see if it sticks. The hope is a lower high and a break below the 50 day. Yields coming lower would be a good thing. Oil prices were much stronger, early in the day, finish on the flat side, but oil stocks, which opened hot, got smoked at the end of the day. Not so sure what that means yet, but just letting you know. And if you're looking to buy energy stocks, I wholeheartedly, hardly, and I haven't even taken any aspirin, wait for pullbacks.

wait for pullbacks. I will repeat also. This is not going to be easy. I keep reading, you know, in bare markets, I will read others and just some of the stuff that's being spewed is laughable. Everybody has to make headlines. We either go on a $50,000 or $10,000 down. We've proved you don't have to even worry about that. The bare market areas remain bearish.

notwithstanding bounces. Simple as that. And there's a lot of them. We define bearish below all moving averages in differing levels of bare markets. Yes, a bunch have bounced. But as we have explained, something that goes from 100 down to 30,

we'll rally to 40. That's a 33% gain. If you can catch that, God bless you. it's still down 60% from the highs and usually remains the main trend. We'll give you a heads up if we ever think the main trend is for real. But we will not throw cold water on this rally we've had, notwithstanding the pullback today. We do think it remains, let's call it somewhat in gear.

Not so sure I'd go further than that. and may I repeat, it is not going to be easy. This market's not going to hand you anything. A lot of emails over the weekend about the game stops and stuff. Just be careful. It was down 12 bucks today. After rallying from 95 up to 145, it's back to 124. That is one of our worries.

Froth and speculation. We've never seen it at bottoms of bare markets. Every bare market bottom has had massive doubt and no froth in speculation. That is a big worry. And remember what we do here. Just a roadmap. Looking at a photo album for familiar faces. Knowing the characteristics that mostly show up or always shows up.

And I can promise you again, froth and speculation is not part of the process of real. market bottoms. Sorry to tell you that. And a few too many, the bottom, the bottom, the bottom, the bottom, the bottom, the bottom, the bottom, call that I watched over the last few days. When all said and done, we pay no attention to them. But we do like getting a feel during bearish phases of unknown price and time. Stronger day for the Chinese ADRs, though they came in by the end of the day. China's opening up again. I don't know if you know this, but they locked down. And they're lowering interest rates. Gee, another one. Governments just don't believe in leaving the markets and the economy alone. Just like our government just doesn't trust. They think they're smarter than us.

They're killing us. They're our opponent. I should be running the country. You know what I would do? Leave you guys the hell alone. Go to work. work. That's what we do. Earn an education. Earn a living. Become great at what you do. Instead of pissing on success, we'll be incentivizing your success. With nothing in front of you.

Just you and your hard work. Success is the enemy of these socialists. Why would you vote for a socialist if you're successful? They're very good marketers. as I'm perusing, not finding anything else that's sticking out just to say, be careful of all the noise from last week. I do believe there's probably some more upside testing to come. I'm not so sure we're out.

I'm not so sure we're out of trouble. The trouble. I always want to be hopeful. Not there yet. Up next. This, that, and the other thing. My voice is still holding up. I'm Gary. This is the one to only investors edge.

All right, quick quiz for the hiring managers out there. What's worse? Being understaffed or being poorly staffed? Well, that's a trick question, because both are recipes for chaos. Either way, just say to yourself, this is a job for indeed sponsored jobs. You'll get matched with candidates that meet the skills, certifications, and everything else you're looking for. Or go a different way and get no traction. Seriously, sponsored jobs posted directly on Indeed are 95% more likely to report a hire than non-sponsored jobs.

It really is a no-brainer. Spend less time searching and more time actually interviewing candidates who check all your boxes. Less stress, less time, more results. When you need the right person to cut through the chaos, this is a job for Indeed sponsored jobs. And listeners of this show will get a $75 sponsored job credit to help your job get the premium status it deserves at Indeed.com slash podcast. Just go to Indeed.com slash podcast right now. Indeed.com slash podcast. Terms and conditions apply.

Need to hire? This is a job for Indeed's sponsored jobs. Struggling to see up close, make it visible with Viz. Viz is a once daily prescription eye drop to treat blurry near vision for up to 10 hours. The most common side effects that may be experienced while using Viz include eye irritation, temporary dim or dark vision, headaches and eye redness. Talk to an eye doctor to learn if Viz is right for you. Learn more at Viz.com.

Cashflow crunch? On-deck's small business line of credit. gives your business immediate access to funds up to $200,000 right when you need it. Cover seasonal dips, manage payroll, restock inventory, or tackle unexpected expenses without missing a beat with flexible draws, transparent pricing, and control over repayment. Get funded quickly and confidently. Apply today at on deck.com. Funds could be available as soon as tomorrow.

Depending on certain loan attributes, your business loan may be issued by On Deck or Celtic Bank. OnDec does not lend in North Dakota. All loans and amount subject to lender approval. You're listening to What are we waiting for? Well, what are you waiting for? One, two, ready, go. Inversters Edge with Gary Culper.

And welcome once again, two Investors Edge. Boy, my voice worsened in just the last hour. Oh, that's because I'm talking. By the way, I'm watching right now the Nadal Jokovic match. Nadal is kicking his butt right now. Up a set and up a break. The dude is relentless. And you know what I love about Nadeau?

He does so much for community. He lives in, man, come on. Majorca. He's got this tennis academy now. I mean, he's pretty much the king there and just does a lot for kids. I love when I see that. Giving back. What more can he ask for?

Besides, how many French opens has he won? Several thousand. Record out. Boy, I'll tell you. Between him, Djokovic, and Federer, I will never see what these three have done ever again. Quite amazing. A few things I'm seeing on the ground, and you already know some of this. Gas prices.

Relentless. The reason why the president brought Powell in on inflation to make him the fall guy, because what is the worst possible marketing for a president of the United States? Well, there's 228 million licensed drivers. I don't know how many of them are actually driving, but it's a lot. Guess what they do? They drive. And guess what they drive past or into?

Gas stations. Have you seen prices? No worse marketing for an administration. I'm surprised there isn't an executive order to get rid of all signs with prices and gas stations. That ain't happening. I did some channel checks over the last three days at a few. Small sampling, but it's representative. Prices at supermarkets.

Well, let me tell you, start with one thing. You know what's selling great? The store brands. In fact, a bunch of store brand stuff sold out. In the paper goods department, the store brands are mostly sold out where I go. because they are much cheaper than the bounty towels and the shaman bath tissue and prices for them. Way up. Chips.

You know everybody has chips Memorial Day. Way up. And let me put it best. Everything. Way up. And relentless. The president had the nerve today. Blaming.

I'll take that back, saying oil companies should lower their prices. What do you want to go bankrupt? Lose money? They blamed mom-and-pop gas stations weeks ago. What do we tell you here? Gas at gas stations? They make pennies on the buck. Most of the money made at these gas stations are in store.

The bottled water, the rolling papers. A little bit on the lotto here and there, the Red Bulls, the Monster Beverages, they don't make squat on gas. They're talking about fixing price? Oh, that'll help. The theme parks here at Orlando, busy. The airlines, busy. By the way, Disney World, I think you can't get tickets for like the next two weeks.

Other theme parks at Disney, you can. Airlines have a problem. They've got a shortage. staff pilots this weekend they had to cancel a bunch more flights from my travel I have to pick and choose when to fly you know what I do now the earliest flight in the morning it always gets out latest at night probably the worst thing you can do housing I'm just letting you know there has been some insane housing asks here in Central What do I mean by that? People are just putting up houses for sale at just asinine prices, just to see if they would get them. I am looking right now at a page. And I'm starting with the highest price going down houses. I see a bunch of them lowered prices by a quarter million bucks already. Now we're talking about the higher priced houses. But what we're going to see now, are prices coming down?

And if we start to see a lot more inventory and days to sell, prices are going to keep coming down. My expectation is in some areas, just my expectation. We may get a little bit of the Eiffel Tower. What do I mean? You know this last move that went straight up, where people went insane, people are bidding over each other, that's over and price will come down to that base where it started from so if you're in one of

those hot areas looking to buy you'll thank me if you hold off a little bit of course it's no help that the 10 years gone from pretty much nothing to 2.8 percent so to get a mortgage a lot more. Little one-two punch. So that's a few tidbits for you. We'll keep our ear to the ground to help you out. And let's hope things get better. I hope I get better tonight. So you'll have a great evening drive carefully. And when you get home, do like I do, quite simple. Make sure you hug your family. Make sure you hug your children. They will feel better. You will feel better. Tomorrow will be on with Charles Payne, 2 p.m. hour on Fox Business. And until tomorrow, same time for this show. Have a great evening, everybody. Take care. Bye-bye.

This has been Investor's 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. Hi, this is Danielle Robay, the host of Bookmarked by Reese's Book Club, a podcast by Hello Sunshine and IHeart Podcasts. I'm partnering with Simple Mills and I've just found my new go-to reading snack. Simple Mills almond flower crackers. Think of this as a quick book style review because these crackers deserve it. The premise? A snack that feels light, not heavy. Made with almond flowers, sunflower seeds, and flax seeds, nutrient-dense ingredients your body can use, not empty carbs. And the taste? Crunchy classic flavors that leave you feeling energized. For a good plot twist, try pop-ums,

cheesy, airy, pop-able crackers packed with veggies. Final verdict? these are a shelf staple. Find simple mills at your grocery store. Allergy season always sneaks up on you. One minute, you're listening to your favorite podcast. The next, it's nonstop sneezing and a runny nose. Don't worry. Kleenex ultra-soft tissues have your back and your face.

They're allergist approved and silky soft to help prevent skin irritation. So you can stay comfortable all season long. Don't let allergies interrupt your flow. Be ready with Kleenex Ultra Soft tissues. For whatever happens next, Grab Kleenex.