Investor's Edge with Gary Kaltbaum - Pre-Election Time!

Episode Date: November 7, 2022

Follow Gary on GaryK.com or http://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 Coltbaum, your host day.

Thanks for being with us today. Glad you're here, ladies and gentlemen. Happy that you are listening. It's November 7th, 2022 Monday. The day before, what they are telling us is the most important election of our lifetimes. Everything is the most important Fed meeting of our lifetime. The most important election of our lifetimes, the most important jobs of our lifetimes, the most important everything of our lifetimes.

Why do we keep hearing that? Oh, because they have something to sell. Anyway, ladies and gentlemen, we're going to be a little bit, well, actually, I don't know if we're so different, but we're going to talk first and foremost about you and this election. And as you know, we are not here to convince, teach, tell. We want you to do your own homework, make up your own minds, do what's best for you and your family, who am I to inject into your life? Because what we're going to tell you is what can and cannot change, what will and will not change. But first, I must mention this. And I never thought possible. I never thought possible. Do you know in the last week, the New York Times and the

Washington Post has been calling out President Biden for lying about inflation, the economy, debt and deficits. Interesting, huh? What have we been telling you the president has been doing? Lying about the economy, debt and deficits, and inflation. It's good that they finally joined in on what we call the facts. But I never thought I'd be able to do this. Do you know what I'm actually doing today?

I am taking the championship belt of lying off of the last president and putting it around the waist now of this president. And that ain't easy. And even the people that love the last president know I'm telling the truth about him. But I digress. We can't go a day without this guy just lying about something or other things, more than one thing, the latest which just got me. He puts out a tweet. He puts out a tweet. My predecessor was the first president since Herbert Hoover to lose jobs in the course of his presidency.

Since I came to office, we've created 10 million jobs. Both of those lines are not just lies. They're big gigantic whoppers. And he knows he's lying. They know they're lying. They know and he knows that we know that they're lying. But they don't give a crap. Because if they can convince one voter to move their way.

I mean, just whoppers. The last president, under his watch, whether you give him a credit or not, job market was fantastic. What happened? COVID hit and we shut down. But this president doesn't allude to that. He then says we've created 10 million jobs. No, no, no. Those jobs came back from COVID opening up.

It was just the timing. He's good. Well, here's the good news. He's finally been called out by the Washington Post in the New York Times. They ripped him. Washington Post came out with, you know, they come out with these marks online. They gave like 10 marks on a few things. The highest you can get.

It's nice that maybe they're listening to this show. And notice we don't give a crap about any of them. We'll call them all out. But anyway, this guy don't stop. They don't stop. Next, I want to mention on the election. How hard is it when you are a leadership? And when I use the term leadership, if you are a mayor of a city, county, governor of a state,

president of U.S., a senator of a city. state, congressperson of the district, how hard is it to recognize the first thing, the second thing, the third thing, the fourth thing, and the fifth thing you should be worried about is the ability of your citizens that you are the leader of to be able to walk the streets and would not have to worry about their safety, that their families can be okay, that business. don't have to worry about just people walking in and stealing the crap out of the place. How hard is that? Don't you think it shouldn't be hard? Shouldn't it be simple? Hey, I'm the mayor here. I am going to make sure that they can't do this, which takes me to my next point. What's the

problem for the left? In many cities, they have not done the job. And on many voices, they have said they wanted to defund the police. Take money away from them. Have social workers go instead of police. Yeah, let's have a social worker go visit a domestic violence where one of them picks up a machete. Yeah, that's social worker. That should work out. I was just in New York City.

I went into a CVS drugstore. Let me tell you what was in the CVS drugstore. number one there was a security guard in a drug store and number two the toothpaste was locked up i had to have one of the workers walk me around to get toothpaste toothbrushes deodor everything and do you know why because of the governor and the governor and the mayor in new york city because of their bail laws. Do you know in New York City there have been people that have been arrested 25 times and not once given bail? Let out each time.

And of course the 26th and the 27th would happen. Did you know that? Do you know in certain cities, I'm going to forget which one it was. If you steal $949 you are not arrested, but $9.50 you will be arrested. I got to believe these people are walking in with calculators. as they're stealing. Why the hell should I vote for somebody that refuses to do something

as simple as that? Think about this. What if my wife walked in, or your grandmother, walked into a CVS and three people are rummaging through the place? So that means your grandmother,

your wife, is amongst thieves, and who knows if they have weapons or not? Why would I vote for that? person. Yet you know what they did? Here's their marketing, the left. They send out Bill Clinton and Hillary Clinton to say that everybody's lying about crime, while video after video after video after video is being played of crime. You know who Lester Holt is? He's NBC. He's the head network news guy. The other day he's on there, he's playing video of crimes while saying, well, the talk of crime may not be exactly what is being said.

He's trying to lower the temperature on it while he's playing videos of crime. That's number one. How stupid are these people? And then they say, nobody said we defund the police. And guess what the RNC Republican National Committee plays? Video after videos, a spool of videos, 10, 20 minutes long of all these people in that party saying, we got to defund the police. We got to move money away from the police.

Some of them said we got to get rid of them all together. A sitting congresswoman. So not only just utter stupidity, safety, but the marketing of it, just morons. Absolute morons. And then you get Hillary and Bill to come out to say it's not true while they have secret service everywhere they go and they live behind wherever, whatever, and gates and this and that? They're nuts.

How stupid are these people? By the way, it just tells you how bad of a campaign Trump ran in the last election that they couldn't beat these duffices. So that's number one going into tomorrow and why they're going to get swamped. And they should not be losing the Senate, but I think they're going to lose the Senate now. Number two, inflation. how many more videos does the Republican National Committee have to put out of Joe Biden saying there was no inflation for seven months before Putin attacked Ukraine and then playing the video of Joe Biden saying it's a Putin price hike

you catch my drift and unfortunately for the left this is what people care about we'll explain a little more and then the markets and then whatever else. 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.

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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. Your wallet, terms apply, lounge access is subject to change. 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.

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So let's get to the next part. Inflation. So I don't know if you know this or not. I don't watch the network at all, this MSNBC, which is nothing but they might as well change the station's name to you're all racist NBC. And by the way, I'm not making that up. The title of that station should be, you're all racist NBC. But they got rid of one person this week

that has been calling everybody racist for God knows how long, and now she's all mad. But besides that, they have somebody else on there called Joy Reed. Her name's Joy Reed. I've never met her. I'm sure she's a nice woman, but she's another political hack.

And of course, there's political hacks on both sides. but imagine she's representative of the left right into an election and you know what she says? Inflation's pretty much the words made up by Republicans and just sent it out there to confuse people and convince them of something. What? And again, it comes to the point of she knows she's lying.

She knows we know she's lying, but it's an election, let's just lie. while people are sitting there saying, what are you insane? And just remember what this election is about. Well, let me tell you why Trump lost. Women and independence. Women got fed up.

Enough. I'm done. Independence. Who will tend to move a little left, move a little right? I'm done. I can't deal with it anymore. Can't deal with it. It's too much.

That's why Trump lost. You know why the Democrats are now going to lose? the same reason, just the other way. Women, safety. Women, how much they're spending on everything. Men too, case closed. Independence. Independence started moving a week after Biden was in the White House when he lied about who he was.

He's moderate Joe. Moderate. The first thing he does was shut the Keystone pipeline down. And then everything was Marxist from there. Control freakism. and by the way, we don't use Marxist as a bad word, we mean it. What Marxism is is control freakism.

I want to control everything and what they do in government, they control things through this. Giveaways. Taxes, debt, deficits, fees, fines, mandates, rules, regulations. That's how they do it. Now go back on Biden's first two years and start making the list of everything they've done

along those lines. And I'm not talking about the COVID stuff. The COVID PPP had to be done. We were shut down. Good with that. But then continue. And then the buying of votes. That's how they do it.

They're very good at it. Under the guise, you know what the guys is, GYSA, under the guise of, hey, your lot in life will never be good unless you vote for us. You never hear them talking about hard work upward mobility

work hard sweat toil hours mentorship be great become successful you know what they do and said

if you become successful you're a crook you do realize they told everybody in this country if you make 400,000 or more the IRS is coming after you 399 you're okay

they did that that's going to get voters they're insane So they'll pay the piper tomorrow. What's the outcome? On a federal level, nothing, gridlock. And he's going to end up being able to do executive orders.

What the Republicans is going to do is they're going to, you know, committee. They'll probably do something to go after Hunter Biden. They'll put in budgets much lower than Biden would. They may even throw in a tax cut which Biden will veto. spending cuts which Biden will veto but they don't really mean it how do we know they're going to do any spending cut they would never do spending cuts

look what they did under Trump just remember under Trump Trump ran 6 trillion of debt in four years and I'm not talking COVID and that's the problem we will remain in the soup overall though on a state level we're going to get some governors that mean business

by the way if you're a crook in York City and Zeldon wins, you better start thinking about not being a crook anymore, as well as some of these other cities that will maybe vote in some hard asses, and some of these cities need some hard asses. Just remember, if you disincentivize crime, if you make the criminals scared of doing the crime, they may not do the crime. How about that, instead of making the citizens scared of the crime? next and here's my prom with Donald Trump he calls out DeSantis four days before the election imagine

the governor of Florida running for the governorship and Donald Trump rips on him you know what that tells me about Trump he hasn't learned the freaking thing in two years hasn't learned the thing doesn't give a crap about party just gives a crap about himself I You think, oh, come on, you don't care. He's self-centered. He showed it for four years, and he's already doing it. Before the election, you rip on the Florida governor? You're an idiot.

I tell it to his face, as long as these Secret Service isn't around. I'd have to mention that. And I think we're done, and, you know, we'll see what happens tomorrow. Oh, the election denying. Oh, that's my favorite one. I can't believe I forgot to mention it. You know what the other? thing the left is doing. Oh, how do you vote for election deniers? Go look at the videos of the left

and their election denying from Hillary Clinton on down. Stacey Abrams. Oh, I never denied the election. And then the Republican National Committee plays three minutes of her denying the election. So all of a sudden, they're telling us our democracy is shot because election deniers, yet they were election deniers. You catch in my drift? Remember, we only deal with facts here. We don't care about opinion. We only care about numbers here. We don't care about opinion.

We'll shove the numbers in your face. Not opinion. We're telling you everything. Not opinion. And we're going to go to 40 trillion of debt. Doesn't matter who wins, federally, and 24. Ain't nobody going to do nothing about it because that's their power. money. If you don't know that by now, I can't help you. Up next, the markets. I think I covered

everything. This is the one only investors 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? Terms apply. Lounge access is subject to change. See Capital1.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

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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. 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's highly recommended. You're going to feel better if you talk to him. And walk once again to Investors Edge.

And by the way, we're not imbeciles. We know there are other things people think about when it comes to electing the people who are running. Areas of the country and the country of that. We're just letting you know what we know is front and center right now. What really matters most right now. They try to interject other things, but we have a very good ear to the ground. And as I said to you, Donald Trump lost the election because of women and independence.

Well, the left lost them in a big way. And you know what else? The left lost. And they will continue to lose. And if they ever get some Republicans that think like me, and remember, I'm independent. I left them a long time ago. And that's logically.

It's about we the people. If the Republicans ever run some great candidates, they'll be shredded the Democrats. You know what they're losing now? who they've taken for granted for so long. Hispanics and blacks. As we've told you here many times, we don't see race, creed, color, gender,

we see people. The right needs to start realizing these are people. The left has been treating them as a block of voters. And what have they've ever done? Seriously What have they ever done? I work with inner cities and inner city communities

They didn't do squat They flap their gums With Hispanics If you want to categorize people I can only go by my experiences The hardest working people on earth Great family people loving people people, a lot of them ran away from socialism and control freakism. And I got newsfea. They recognize socialism and control freakism very quickly. And guess who's recognizing? The Hispanics. Do you know Dade County may go Republican? Tomorrow? I really do think if I ran, I'd win the presidency. By the way, I don't say that with sarcasm with a joke. We have to

to get back to we the people. Get rid of the central bank crap that's running the world. But I like my life. Anyway, that's going to be tomorrow. We'll cover it. You ready for this Wednesday? As you know, we do this dinner, every Thanksgiving for about three to 400 kids, the Colpom family, from the Boys and Girls Clubs of Central Florida. We haven't done it since 19 because of COVID. We were doing it Wednesday. And there's a tropical storm Wednesday. So we're going to cancel it Wednesday. I'm leaving Thursday across the pond. I will be back to, well, hmm, I will be back to Thanksgiving the first few days. I'll have to call them on that. I doubt they'll be able to. We'll probably do some sort of holiday thing in December to replace it. So that's that. Anyway,

in other news before we get in the market, interesting. Facebook today was up about what, 6%. 9 times 7, 6%. Because they're firing a crap load of people. Just letting you know. We're starting to see a little bit of that going on. And I don't call them meta because they shouldn't have changed their name. But that's part of what happened today.

Decent day today, we'll explain. So that all said. And thanks for listening to our election. collection coverage, which is much better than most everybody else's because we have no bias. We can't stand any of them. We just want good. You know what we want? For them to leave you alone.

Get out of the way. Smaller government, but efficient government. Let business thrive. Let you thrive. Let industry thrive. Education. Work on the education. You got to start meaning business on education from kindergarten up.

I saw one college fired somebody because they said he was teaching a course too hard and the students complained. I would reward that teacher. Reward that teacher. Why? Because when the kids get out in the real world, if they don't know crap, they're going to lose out to the people that do know crap. How's that for logic? Nice job by that college. So the market wrap is brought to you by Investment-Models.com.

That's Dermoorback, one of the great market timers. No gray areas with the man you're either in or out of the market. It's proprietary indicators. Go check it out. Investment-models.com. Futures are up 200, down 200. We came and we just rallied up, but it was mostly the Dow again, up 423. Now, you would think with the Dow up 423, the advance declines,

would be unbelievably good. The NASDAQ would be up huge. The NASDAQ only got going later in the day, up 89. The NASDAQ advanced declines with 2420 on the New York 2614. But a good update on the Dow. And we've been telling you, it's been a Dow-led market, which we're not so sure as good news, but your 401Ks will take it. S&P up 36, NASDAQ-19, the SOX-52, transports 264, had a good day. Guess what the last two days have done? Got back some of the two days before. But I will tell you this, not even close to getting back the NASDAQ or NASDAQ 100. Not even close to the highs of last Wednesday.

So we'll call this a decent bounce into the election. And I know we're hearing people saying, well, if the Republicans do win the House and Senate, that's good for the market. We'll see. Outcome. We'll see. One who believes if you stop the control freaks in their tracks, that should be good. Maybe that could be.

We'll see. Yields were up today, but didn't hurt the market because the dollar was down today. And that's, as we said to you, start following the dollar. We said that weeks and weeks and weeks ago. And now the dollar's pulling back. It's helping the market to a certain extent. What didn't get help today was, and let me be clear about this, Tesla broke 200 down 9, Apple was down most of the day. They're lowering their numbers for the iPhone 14, finished up on the day, finally bounced.

And my left screen here is a slew of these, you know, we talk about them, the growth, high beta, software cloud names. they were more than 50% red today with a lot of them beat red. Now, it was much worse earlier in the day. And just so you know, when the Dow was up 150, I think the NASDAQ was down 50 after opening up hot. I'm not so sure that's good news. But again, we'll take every up day gladly. I'm not sure if I'm hearing my music.

I can't tell. But we will take every up day. that we can possibly get at this juncture. But I want to repeat. Better get more leadership. Up next, where's the leadership? Only one thing really has changed. The leadership we've been telling you about,

when we use the term leadership, how do I say this best? Nothing's really smoking to the upside. When we say leadership, we're just saying relative strength versus the bombed out. We'll do that. We'll do the in-betweens and whatever else we can think about. Just remember when we talk about them, it has everything to do with you.

Much more up next. 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? Terms apply. Lounge Access is subject to

change. See Capital1.com for details. This episode is brought to you by Spreker. 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 Sprinker distributes it everywhere people listen, Apple Podcasts, Spotify, and about a dozen apps your cousin's 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. Sprinker, 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. By the way, I got a lot of emails on the Biden lie about Social Security. He put out a tweet because of my administration. Your Social Security payments are going to increase the most since whatever, whatever. And they had to pull it down because the reason why they increased is because of inflation. In case you don't know, Nixon, in 72, signed into law an automatic benefit adjustment. to the consumer price index,

and that's why your Social Security payments are up very markedly this year. And that's why they pulled down that lie. And the poor press secretary, when asked about it, well, you blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah. They should change the name of the press secretary to press, I have to lie for him. And that goes for all of them, by the way, not just this one. I feel bad.

then again they accept the job right and then they'll write a book and make big money okay some big biotech amgen in the dow is at a new closing high just letting you know on their earnings report amgen stock was cratering and headed down to 259 on friday midday closed at 268 was up eight today new closing high Amgen's last two quarter sales plus one and minus one but just letting you know the market likes it so some big biotech and when I mean that biogen but kind of they announced a drug a few weeks ago and the stock's done nothing but it's held up

regeneron REG and announced a 28% drop in earnings and a 15% drop in sales ain't gone anywhere but held up a break above 761 on Regeneron would be a nice little breakout. Defense stocks, not all. Northrop Grumman just had a little harsh pullback, but is holding on. It's minus 6% earnings growth, not making it up. General Dynamics is at the old highs.

Lockheed Martin, at the old highs, by the way, let me preface all this. We are not telling you to buy, sell, sure to cover any of these names. We're just letting you know what they're doing. do I have to repeat that? That's my disclaimer. The auto parts retail, not all of them. AutoZone, good relative strength, genuine parts, GPC, and O'Reilly Automotive. Good relative strength. Managed care, not all, but Cigna, CI, with a big 5% earnings growth and 2% revenue growth.

Umana, H-UM hanging in there. I'd like to say United Health, but United Health tried to break out last week and failed, but still up near the highs. That's hanging in there. So there's some group sphere and some drug names. Eli Lilly, Merck, Bristol Myers, up near the highs. Earning's not very good. But we're just letting you know as stocks, good rel of strength.

We'll throw McKesson in that little group also. And the oils. Not all, but the oils. And again, another day where oil prices were down, but oils were strong today. Stronger. Good relative strength. A bunch of names, what we call the tips, the old highs. And we'll see if they continue from here.

Those are your groups. After that, financials are off the lows, nicely and continue to just push higher. For example, it's a good move. No argument. And most everything is off the lows of the recent mid-October to a certain extent. Though we had 344 new yearly lows in the market today, that was a little perplexing. I'm going to have to look them over later. And of course, you know some of the names, by the way, a lot of these big tech and stuff like that. But there's not a lot of bull market sector-wise. I can tell you, Harley-Dade. Davidson motorcycle New Yearly High.

That's a group. It's like one or two names. I wouldn't consider that a big group. I can tell you that there's some names in the trucks. MOD is the name. That's a symbol. Some like that. But not big group.

The first ones mentioned those are the mainstays. And we'll see what comes of it. What we watch mode, of course, price. But we're watching the dollar, and we're watching yields. But right now we're in the midst. Well, we're just recovering summer last week. And the NASDAQ not even close. We're just letting you know, this does not feel like a risk-on move.

Why? The NASDAQ and NASDAQ-100 are the risk-on areas. And it just ain't happening. Solars came in hard today. I guess there's worry there about, you know, a lot of. elections and stuff, but it's a fact of life. And it's just a tricky bugger out there. But right now, Dow continues to leave. Stunningly well. The second. Only 10% off of the highs. The S&P's 20, NASDAQ's 32. Just remember what we tell you about the Dow versus everything else. Of big

importance. The Dow is supposed to lag the NASDAQ and NASDAQ-100. on rallies. So we'll keep telling you what's working, regardless. And as always, we let you decide. I also want to make note today, you've got to bounce in Adobe, Google. Now, not much on Google, Microsoft, Facebook, as we mentioned. So some of the big things bounce when I look at the charts look like the south end of a northbound jackass. So we be careful.

And that's our take. We'll be back tomorrow pre-election. we'll see what goes down. You have a great evening. Drive carefully. And when you get home, do like we do, it is quite simple. Make sure you hug your family. Make sure you hug your children.

They will feel better. You will feel better. I promise. And until tomorrow, we the people. May have to change the title to show. Have a good one, everybody. Take care. Bye, bye.

This has been Investor's Edge with Gary Korn. Altbaum on Biz Talk. To listen to past episodes or to get in contact with Gary, go to GaryK.com. That's GaryKK.com.