Investor's Edge with Gary Kaltbaum - Nothing Good.

Episode Date: August 16, 2023

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

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Terms apply. Lounge access is subject to change. See Capital One.com for detail. Investor's Edge with Gary Coltbaum. Straight talk about you and your money. Now from the BizTalk Studios, here is Gary Cultbaum. And welcome once again to Investors Edge. I'm Gary Colbom, your host.

A thanks of being with us today. Glad you here, ladies and gentlemen, happy that you are listening. Wednesday, August 16th, I believe it is. Hope you're having a very good day. We start our day every day. talking about Maui and what is happening there. The president finally announced he is going there on Monday with his wife, good on him. I just want to read a story. It's a good story, but I'm going to lead into not so good. 60 wildfire survivors are rescued from inside a single house. What a

story during the massive search operation. Many of them were previously unaccounted for were found taking refuge in an isolated private residence where electricity and phone lines had failed. The other side, though, death toll is climbed to 106, and 1,300 people remain unaccounted for. We are praying and hoping and wishing for their well-being, and the people of Maui, people of Hawaii, people of Hawaii, I, as I have told you, I consider it my second home. I don't have a house there, but I have a place that I always go there. Been there about, I think, 11 or 12 times. I've lost count.

I'm going to plan on going early next year. Well, maybe the second quarter after things settle. But I just continue to look at the video. My goodness. And I know how Lahaina is set up. and just stunning. And I know the territory well that it didn't go north, it didn't go south. It just went straight through.

We're hearing stories of real estate people trying to buy up people's real estate. They're what a bunch of ass clowns. I mean, God almighty, you can't wait a few weeks. That's going on. I heard there some looting, but I think the. police are in there now, that's not going to happen anymore. Anyway, just if you have the ability, you want to do something, you can go online. There's a couple of places where I think are safe.

You send some money. I do know government is an emergency area, so there's going to be some serious funding. And, you know, it's never going to be the same. How do I put it? It's just a town that's been there for ages, and they're going to have to build new and new does not look like ages. But my favorite shaved ice place hopefully goes back up. Mick Fleetwood's place that is a restaurant, cheeseburger in paradise, which I frequent in many times, and the banyan tree is still there. Burt a bit, but still there. It held. Amazing.

Go look at a picture. The banyan tree is gargantuan. I used to just hang out underneath it and just it's just a cool place to hang out. And again, our thoughts and prayers for them are just stunning. It's just absolutely stunning what has happened there. Anyway, let's move on. So we've been a little bit worried. we have told you that we knocked out all of our technology stocks. The last thing we had was Apple sold half right before earnings, half right after earnings.

We've been worried about interest rates going higher. We've been worried about oil prices going from 68 to 84. The good news is it is back down to 79, but still up from 68. We've been worried about the banks. What did we say to you? Citigroup is back to the lows where it was when Silicon Valley Bank hit. What? And just all kinds of big distribution and breakdowns in the financials.

But before that, blow up after blow up after blow up after blow up after blow up in technology lands. Some famous, some not. The breaking of support areas. the inability to rally, the opening up hot and selling off, it worsened today. That's the best way I can explain it. It worsened today. We'll go through that. We'll go through the technicals because something else happened today. That's really of note. And we just hope you're listening. Now, before we go into it, let me just state, as we always tell you, when something gets a moving, we never know how long it lasts or how far it goes.

When a bull market starts, a bullish phase starts, we don't know how long it lasts or how far it goes. When a bear market or a bearish phase starts, we don't know how long it lasts or how far it goes. The job is to stay on top of it until you see some sort of turn. Thus, you'll hear us say, we think things are changing. things have changed. We'll say things are topy, top topping. We'll use those three words. And then we'll talk about up trends, downtrends. And when the market's getting hit, we'll talk about, oh, well, these areas are not. When the market's getting cheese to the downside, we'll talk about, well, these stocks and areas are holding up well. That comes under the rules that we have. It's easiest to isolate weakness. when the market's strong, it's easiest to isolate strength with the market's weak because they are sore thumbs. In other words, if there was only 100 stocks in the market, 95 were in downtrends, but five were in uptrends, those fives, what the hell's going on there? What's the reason?

And vice versa. It got worse today. That's all I can tell you, it got worse today. And we finished near the lows of the day today. And something happened at the end of the day. and you know who knows but it's been happening for a bit the technology area was pretty much weak throughout the day i noticed in the last half hour it lost more traction versus the market to the point what were the names we were telling you were holding up great amazon big gap up right well it's filling the gap now google good gap up rolling over catch my drift. The stocks that had bad reaction to earnings, well, they're getting whacked. Tesla down another eight today into a new relative low. Netflix, down another eight today.

Apple, which doesn't move as much as others, down a buck and a quarter, and has what we call kind of a bearish flag. What does that mean? Turn a flag upside down. One of the good reactions was Facebook. Facebook finished below the 50-day moving average for the first time today since last December. Now, of course, the 50-day moving average is much higher now that it was back then, but that's also of note.

So just letting you know, just letting you know. In previous weeks, we told you about the tops in the airlines. We told you about tops in other areas. and also the blowups. We're just going to repeat. It got worse today. And what it leads to, I don't know, but I do know it got worse today.

And at the close of today, the S&P 500 finished below the 50-day moving average for the first time since March 29th. That's the S&P 500. We already know about other areas. The NASDAQ did it three or four days. days ago. The NASDAQ 100, three or four days ago. The Russell 2000, that's been gross

anyhow. It had one good move up. The transports were they rolling over badly. And they were acting pretty decently. And then the financials. Woe is me. That's the best way I can put it. and I repeat, City Group is at a, by the way, City Group officially is at a new closing low from the Silicon Valley Bank.

The closing low on Citigroup was 4311, closed at 4292 today. That's Citigroup. 100 billion a year bank. So I don't have much great to report to you. Our job, to report to you. As always, we're not going to tell you buy, sell shorter cover. We're going to tell you what we think, and you get to decide. You know what's strong today? Coal stocks. No, really,

coal. Alpha metallurgic resources. Coal in Pennsylvania, Virginia, West Virginia, New Yearly High. Coal. Consolidated energy. Coal. Almost New Yearly High. After that, not much. This is the one only Investors 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.

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That's 8-8-5-59. That's 888-4-22-55-59. Investment advisory services offered through call-bomb Capital Matter. management. This message is brought to you by the Capital One Venture X card. Venture X offers the premium benefits you expect, like a $300 annual Capital One travel credit for less than you expect. Elevate your earn with unlimited double miles on every purchase, bringing you one step closer to your next dream destination. Plus, enjoy access to over 1,000 airport lounges worldwide. The Capital One Venture X card. What's in your wallet? Terms apply. Lounge access is subject to change.

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It doesn't get better than this. And well, once again to Investors Edge. By the way, I left out the semiconductors, which cracked the 50-day badly five, six days ago. and even though the semis had a strong Monday, it's below the low of that day. Gold and silver, another low today. The gold, GLD, below the 200-day moving average today. What's up with that?

I still don't understand how when we had the big inflation gold didn't skyrocket because we were always taught. We were always taught gold skyrocketed with inflation. Nobody gives a crap about it right now. maybe one day. We'll let you know. We'll be on it. China, there ain't nothing good going on there. The big guys, Alibaba and Biden, yonked. Others no good. And what else have we been telling you? You ready? 934 stocks up today on the New York, 3,038 down. On the NASDAQ, 1,125 up, 2993 down.

New Yearly lows on the NASDAQ 260. New yearly lows on the New York, that was NASDAQ, New York 116. And then when I go to New Yearly highs between the two, it's showing just the total of 81. But then I go to the new yearly highs and I notice it really isn't. Because on the NASDAQ, I look at the NASDAQ here and I see a couple of SPACs. I see a couple of dollar stocks. I think on the NASDAQ, I'm not even really finding a new yearly high today.

I'm looking. On the New York, there's some. TJX. I get my Scooby-Doo socks there. New Yearly High on their numbers. A couple of oil names. And they have to Abercrombie and Fitch, New Yearly High. I'm going to give it that.

How about Famento, Economico, Mexicano? I believe that's alcohol in Mexico. Yeah, broke out today. Good one. Arthur Gallagher, New Yearly High. Guess what? Insurance. Going down the list.

It's really about it. That's it. So just more deterioration. And we'll see where it takes us. A break below the 50 day does not mean. it stays below the 50 day. We can get right back above. But in the adding up the weight of the evidence of the things we are seeing,

markets get in a little trouble here. It worsened again today. So the market wrap is brought to you by Investment-Models.com. That's Jim Roarbeck, one of the great market timers. No gray areas with demand you're either in or out of the market. with his proprietary indicators. Go check it out. Investment dash models.com. Dowdown 180, S&P 33, NASDAQ 156, NASDAQ, 161, 161, transports 156, socks, a juicy 72. But more importantly, the underbelly of the indices, ick, and the 10-year yield up to 4.258,

we are like so close to a 15-year high. close to the yearly high while they're telling us inflation is so weighed down well i got news for you the market the free market the bond market the yield market is a lot smarter than all of us and i'm just wondering what it's saying because you know what else is going on use cars price highest ever there's no more new cars under 20 000 bucks and the average new car just about the i think the highest ever rents are up try buying chips you see what they're doing at the store you know what shrinkflation is the party size chips are like just are like about a quarter smaller if not more than the old party size and you know like Doritos they took three chips out

initially it's a lot more shrinkflation and that bag of Hershey's i used to pay 1099 the little Hershey's used to get for Halloween still 1499 so I don't know where government gets their stats and I don't care. What matters is what's really going on the ground in the real world in the pockets and wallets of us good Americans that wake up every day trying to do well for our parents if you take care of them, our kids, if you take care of them, our families all around and ourselves. And do you know Joe Biden came out and said his inflation reduction act? Well, it really wasn't for inflation reduction. You know what that comes under the heading, right? One word.

Duh. You mean Joe Biden lied? We had no idea he lies. The dude's taking the championship belt away from Trump on lying, and that's a high bar. And we're going to leave Trump the rest of the day. He's got enough to deal with. Trump needs me. He doesn't know me, but he really needs me.

because there's no logic in anything that's coming out of there. We're not going to say another word on that. We wish him luck with no bias. And for all of you that love him, I have the utmost respect for your choice. I'm a big believer in all of us are allowed to believe whatever we want to believe, like whatever we want to like,

love whatever we want to love, as long as we do it within good intention and in the rule of law. Forget the good intention. With the rule, with the rule of law, you get to decide. That's why I don't touch all these other things. Because what I may love, you may hate, what you love, I may hate. And that's okay.

I get asked all the time, why don't you talk about the woke stuff? Well, Target got there. You know what it. Disney got hit. And they're not learning a lesson. Do you know they're getting rid of the seven dwarfs? They're so stupid. How do you get rid of seven dwarfs?

They're doing a live snow white and it's not going to have like a prince. What? So why do it? Makes no sense. They're going to pay for it. And of course, amazingly, the beer. Again, live and let live. They made their choices and guess what?

You get the rewards or you get the colonoscopy. and boy oh boy they got the colonoscopy. I feel bad, do you know why? People lost their jobs because of it. On the other end, some of the other beer makers are Madello. Modello is now the number one beer. It's a Mexican beer. That's how it goes.

And by the way, we watch these things. We have to watch these things now. Why? Because we're kind of becoming like a protest nation. Not all. Pickett Nation. Hey, look what they did. Let's not buy it.

I made the mistake once. I remember when Kaepernick took the knee. I wasn't complaining about him taking a knee. I was complaining about on his socks was a picture of a police officer as a pig. You know. Up next. This, that and the other thing. More in the markets.

I'm Gary. This is the one only investor's edge. This message is brought to you by the Capital One Venture X card. Venture X offers the premium benefits you expect, like a $300 annual Capital One travel credit for less than you expect. Elevate your earn with unlimited double miles on every purchase, bringing you one step closer to your next dream destination. Plus, enjoy access to over 1,000 airport lounges worldwide. The Capital One Venture X card. What's in your wallet?

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Retail sales only, some exclusions apply. See Store for Details. Delivery available on qualifying orders. This message is brought to you by the Capital One Venture X card. Venture X offers the premium benefits you expect, like a $300 annual Capital One travel credit for less than you expect. Elevate your earn with unlimited double miles on every purchase, bringing you one step closer to your next dream destination.

Plus, enjoy access to over 1,000 airport lounges worldwide. The Capital One Venture X card. What's in your wallet? Terms apply, lounge access is subject to change. See Capital One.com for details. We're listening to America is talking. Investors Edge. He's got to be pleased with that.

The crowd is just on his feet here. He's a Cinderella boy. With Gary Coltbaum. It comes highly recommended. You're going to feel better if you talk to him. And welcome once again to Investors Edge. Thanks of being with us today. So, Jamie Merrill.

is the new CEO of the Boys and Girls Clubs of Central Florida. I'm not going to talk about her today. I got to meet her over dinner. I think she's going to be fantastic. You can tell when somebody has one word that matters most. Passion. We'll talk about her on another day. I want to talk about Gary Kane, if you don't mind.

We've talked about him many times in the past. he has been the CEO president of the boys and girls clubs of central Florida I met him when I moved up to Orlando I was my wife and I did a bunch of things down in south Florida Jackson Memorial we used to do birthdays for the cancer wing and Halloween we used to bring in magicians and go door to door in the hot we used to do all kinds of things. We came up here. What did we want to do? So they have this coalition for the homeless and what my office, me and my office did was monthly birthdays for anybody who had a birthday at the coalition. We couldn't believe how many kids were at the coalition for the homeless.

Whoa. Anyway, I went to a Rotary Club meeting and Gary Kane approached me. Would you like to join the board of the boys and girls come? I said, hell yeah. And I didn't know much about it because you think oh the Boys and Girls Club what is it a gym I didn't know but it turns out it is a place a safe place where kids are made children are made teenagers are made to feel important and are taught leadership mentorship greatness hard work education all the qualities you need. And a lot of these kids, teenagers, children are from circumstances not so great.

I just wanted to let you know what Gary Kane has done. And I always say to him single-handedly, and he always says, no, it's all of us, but an organization is only as great from the top down and the ability to influence. and inspire. And I can't begin to tell you where we were back then, number one, financially, because any organization, philanthropic and the helping of kids, you need bucks.

And we went from the outhouse to we're never in the penthouse because we're always striving to do more and take care of more kids and have more clubs. But the amounts of, of dollars enabling to take care of these kids huge. And it came from natural ability relationships, not working at the relationships, but just a natural ability to inspire

and inspire others to have passion for these kids. That's what Gary Kane did. He changed the community, kids' lives, inspired the board, and these are adults that have other things to do. They're volunteers. We're volunteers. Inspired us to work our tails off and raise dollars to others and visit clubs and mentor the kids. Provide scholarships and school things and whatever it may be.

Inspired the staff for me, the staff at these clubs. I can't begin to tell you what passion they have for these kids. And you know where it emanates from? The top. So if you ever have a, well, you should Google the name Gary Kane, C-A-I-M, and just read more about him. But if you ever have a chance to meet him, know that this one man, one man, in a couple of decades, changed the trajectory of all of Central Florida. I can guarantee you there's a ton less crime, a ton more kids that went to college, graduated, and are in the world doing things they would never have thought they would do or accomplish because of the organization and where it emanated from. So if you ever have the chance, shake this man's hand.

He's inspired me. He has made me feel important. And he has conveyed the importance of what we do so well throughout the years. And every time I tell him this, all he says is, well, it's all of us together. He's right. But I repeat, it comes from the top down. And this is my little ode to him. and his greatness.

And by the way, soft-spoken, humble, never asking for a pat on the back, just does his job. And he don't think it's a job anyhow. It's his passion. And that's where I always tell you here. You want to be great? Find your passion.

Find what you love. Find what you love to do. it's amazing what can be accomplished. Anyway, that's my little story of Gary Kane, his wife Louise, who is another big part of all this, and of course the board. We've had a tremendous board throughout the years, and some come and go, some have been there forever. Great decision-making throughout the years.

And the children of this community much, much better off. And we wish Jamie well going forward, and we're going to be behind her 1,000 percent. And every community across this country should have people like this running these type of organizations. Because I must tell you, the amount of money government spends on jail, be a lot better off spending on kids. You know, these kids are not born as criminals. They're not born in gangs. We try to break that, and it's not easy. And sometimes we feel like we're fighting an uphill battle, but we're going to keep fighting.

If you have a boys and girls' clubs in your community, may want to look them up and see what you can do to help. Because if we don't take care of our kids, ain't going to matter. Anyway, thank you for listening on that. We now segue back to the crappy market. I wish I had more good. Coal stocks were strong today again. A steel better, but there's a potential buy on U.S. steel and things are up in sympathy.

After that, you got some good reaction to earnings. After that, nothing. And as I always say to when markets turn down, we don't want to see another day like this. We don't want to say another day like that. We don't want another advanced decline day like that. We don't want another strong open or weak lows. We don't want to finish at the lows. And today, kind of sort of did that.

In fact, the NASDAQ did finish at the lows today. And you know how much we think the NASDAQ. And the Dow very close to the lows. In fact, within eight points. So wish I had better news. leave no doubt the cost of capital is a problem leave no doubt oil price is going from 68 to 79 though off of 84 bucks from a couple of days ago that's a problem and of course the gargantuan growth of debt and deficits in the size of government is a problem uh they put john podesta in front

of the press conference today. He's the guy that's being handed 380 billion of our tax dollars for climate. Lifelong Democratic. I use the word hack. But I don't, you know, let's take that away. Lifelong, lifer, Democrat. That's getting 380 billion of our tax dollars. Up next, whatever else.

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See Capital One.com for details. This episode is brought to you by Spreaker, the platform responsible for a rapidly spreading condition known as podcast brain. Symptoms include buying microphones you don't need, explaining RSS feeds to confused relatives, and saying things like, sorry, I can't talk right now, I'm editing audio. If this sounds familiar, you're probably already a podcaster. The good news is Spreaker makes the whole process simple. You record your show, upload it once, and Spreaker distributes it everywhere people listen, Apple Podcasts, Spotify, and about a dozen. in apps your cousin swears are the next big thing. Even better, Spreaker helps you monetize your show with ads, meaning your podcast might someday pay for, well, more microphones. Start your show today

at spreeker.com. Spreaker, because if you're going to talk to yourself for an hour, you might as well publish it. This message is brought to you by the Capital One Venture X card. Venture X offers the premium benefits you expect, like a $300 annual Capital One travel credit for less than you expect. Elevate your earn with unlimited double miles on every purchase, bringing you one step closer to your next dream destination. Plus, enjoy access to over 1,000 airport lounges worldwide. The Capital One Venture X card. What's in your wallet? Terms apply. Lounge access is subject to change. See Capital One.com for details. You're listening to. What are we waiting for? Well, what are you waiting for?

One, two, ready, go. Action! In the guest's edge. With Gary Culper. Well, life is much easier for me because we're pretty much mostly out of earning season. Just a handful this week and handfuls going forward. Thank you. Earning season, just a lot of work once I get into earning season because I've got to go through

and really get a feel for this, that, and the other thing. and it's been quite interesting as we're coming off of this earning season. Like Cisco in the aftermarket reported, they're in the Dow. By the way, it's up two bucks in the aftermarket. That may be a new yearly high, but that's not really going to cause shakes and shutters in the market at this point in time, if you ask me, we'll see. We're just glad to get the heck out of earning season because I am telling you,

it takes a lot of my time. An article really stood out for me, for you. I was stunned to read it. And you know what it has to do with? Just what we talk about here. You and your money. You and your job. You and your future.

That's what we like doing here. I have to read this to you because I can't do anything about it because I'm a doofus when it comes to technology. I couldn't code a computer. I've never tried to learn, but I don't know anything about it. You know, I have this company, Cloud 9 computer that handles all my technology, and I am amazed what these people know. And I guess, you know, what you care about, you learn, and what have you. Let me read a headline for each and every one of you that may not be happy in their job, may not be making enough money in their job, but is a lot smarter than I am, and I am in the lowest scale when it comes to technology,

a lot smarter I am when it comes to technology. You ready for the headline? AI, artificial intelligence. Jobs with salaries worth 900. thousand are here. Companies will pay AI experts hundreds of thousands of dollars for their skills. Netflix, which has faced recent scrutiny over these jobs amid the ongoing actors and writer strike, has posted positions listed with an annual salary of up to $900,000. A data data, science, I don't even know, is it data data, who cares? A data-datted scientist job in Los Angeles that works in advertising has a typical overall market range of 390,000 to 900,000 AI.

They develop, conduct analysis, and develop analytical tools, build predictive models and algorithms using machine learning, all with the goal of creating more choices and joy for our members. I'm still trying to figure out the ice machine in my refrigerator. Other machine learning related jobs in Los Gatos or Les Gatos, California, have the same overall market range from 100 to 700,000 or 449,000 to 842,000. Now you've got to put up living in California on some of these jobs. By the way, California, one of the most beautiful states in the country. But you've got to put up with the government. They're Marxist control-free government.

This market range is based on total compensation, which is in line with our compensation philosophy. The Match Group has a base salary of $332,000 to $398,000 a year for an AI job-related. Amazon Senior Manager of AI comes with a base range from 175 in its lowest geographic market to up a $340,000 a year in its highest. That means if you live in New York, you get paid more, if you live in wherever. You get my point. Why am I bringing this up? Because you're my peeps. So what you're supposed to do, and I've been on there, but I really use it, you go to LinkedIn.

What is it? Indeed. See what the hell's out there. And if there's one or two of you that did not know this, well now you know we're not talking small amounts of cake here we're talking about some life changing cake in case you do not know i think the average salary in this country is what 50 am i right in saying that i'm putting that up right now average salary in the u s Average hourly rate $28.34.

What percentage of Americans make $75,000 a year? Only 12.2%. Well, two letters, ladies and gentlemen, A.I. Get cracking. Your handsome and buffed host, whose back is feeling much better. Who's very good with the stock market. just gave you heads up and a leg up on some real high-paying jobs.

And I gather they're going to proliferate. Proliferate. Say that 10 times fast. In the years to come. At least that's what they're telling me. AI, AI, AI, AI. So I just wanted to let you know. I thought that stood out like one big giant,

fat sore thumb. And I'm thinking to myself, Ooh, my radio show peeps. Perfect. So get cracking. Look it up. If you have any type of background with this, 900 grand.

And then you come and buy me dinner. So how to bring that up. And we segue back to the market. I don't have. much good to say I wish I had better I've yet to scan I think I know I'm refined and this is not started today this has been going on for the last two to three weeks and we'll see what's up next we back tomorrow same time we'll be on with Farnie and company 930 a.m. tomorrow Fox Business Network you have a great evening drive

carefully when you get home do like we do it's quite simple make sure you hug your family make sure you hug your children they will feel better you will feel better, I promise. Peace out. All. Thanks for joining us. Always honored you would listen. Bye-bye. This has been Investors Edge with Gary Cult Bomb on BizTalk. To listen to past episodes or to get in contact with Gary, go to GaryK.com. That's GaryK.com. This message is brought to you by the Capital One Venture X card. Venture X offers the premium benefits you expect, like a $300 annual Capital One travel credit. than you expect. Elevate your earn with unlimited double miles on every purchase, bringing you one step closer to your next dream destination. Plus, enjoy access to over 1,000 airport lounges worldwide.

The Capital One Venture X card. What's in your wallet? Terms apply. Lounge access is subject to change. See Capital One.com for details.