Investor's Edge with Gary Kaltbaum - Quite the week in review! [12.20.2024]

Episode Date: December 20, 2024

https://garykaltbaum.com/...

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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 store. We can't wait to meet you. Store hours vary by location. Investor's Edge with Gary Kaltbaum. Straight talk about you and your money. Now from the BizTalk Studios, here is Gary Kaltbaum. And welcome once again to Investors Edge. I'm Gary Kaltbaum,
Starting point is 00:00:48 your host. A thanks of being with us today. Glad you hear, ladies and gentlemen, happy that you are listening. It's Friday, December 20th, 2020, 24. Hope you have it a good day. Hope you have a good weekend. next week is three and a half days. I believe it's half day, Tuesday. Wednesday is Christmas, right? Yeah. Whatever you celebrate Hanukkah, Christmas, or anything else. Enjoy.
Starting point is 00:01:12 As always, we have lots to cover. We don't mess around here. Serious talk on everything that affects you. The markets, the economy. Your job, your industry. The debt and the deficits. And the clowns in D.C. Have you seen what's been going on there now?
Starting point is 00:01:28 Believe me, my expectation. are 0.0, as John Verdon said in Animal House. We'll cover it all. And 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, which is now X. We'll also post it on podcast apps. Go check it out. If you'd like to email us, just be nice. Because we're nice. All right, I got a lot of questions yesterday on the same thing. I had mentioned somebody who came out with a meme coin. I said I could not explain. I didn't really want to say what the meme coin is because it had a connotation to it.
Starting point is 00:02:06 So I'm going to give you the person's name. Haley Welch, you can go look it up. And let me say for the record, she has now answered the call of why she's being sued that her meme coin went down 95% within hours. And she wonders why she's being sued. What an idiot. I say that with no joy. I just think these people are idiots.
Starting point is 00:02:33 I remember Dennis Rodman came out with a pot coin that went by-bye. I think Mark Cuban came out with a coin that went to like nothing the next day. You'll be careful. There are people. There are people that bought into this meme coin from this woman, Haley Welch that is known for a moniker, well, you go look it up. You can go look it up. And the reason we bring this up
Starting point is 00:03:18 is because we've experienced the GameStop, the AMC, the SPACs, the no-sales, this and that. And we know it's going to happen again. But we have to alert while it's going on. And right now you have crazy moves in things about quantum computing. We mentioned yesterday about a stock that has been trading since 2008, 16 years and they still have no sales. And the stock just skyrocketed because quantum computing.
Starting point is 00:04:04 And robotaxis, which nobody knows if it's going to proliferate, All I know is I've been told about it for like 15 years. And maybe one day, there's going to be no drivers. And maybe one day we're going to have things going over our heads like the Jetsons. But if a company has no sales in a $5 billion market cap and you lose 80% of your money because you decided to invest in it, catching my drift. And don't get wrong because if you. can catch some of these specs right. Holy crap is there a lot of money to make. I've seen some
Starting point is 00:05:01 things go from five to 50 in the last two weeks with no sales. I'm looking at one right now. The problem is typically, typically, typically, I, who watch the markets all the time, don't see them until they're already up big because they're so off the radar. So be careful. It's a mean world out there when you speculate with nothing but your emotions. And we're not here to tell you what to do. We're here to tell you what we think. And you get to decide. It's your money. But when I read, that some girl, that by the way, was not famous up until a few months ago, comes out with a meme coin,
Starting point is 00:06:15 and it drops 95% overnight. I guess it's down 100% now because you can't sell, right? There's no liquidity. And she puts out a note, I'm so sorry, and this is the lawyer. You need to cont. Hey, thanks. But is it her fault?
Starting point is 00:06:35 Or somebody else's fault to jump in on something like that. Which segues to the miscreants in D.C. I'm not going to get into the back and forth. I'm not getting the legalese of a continuing resolution versus whatever, this, that, and the other thing. I'm just going to state to you the continuing scam perpetrated upon you with the help of a media that doesn't say a freaking word. I saw them interviewing Hakeem Jeffries. He is the leader of the Democratic Party and he's blasting the Republicans. Oh, and they're going to take away your Social Security and this and that and we need to fund the government, this and that, Hakeem Jeffreys
Starting point is 00:07:39 Party brought to you by Joe Biden, Kamala Harris, the Democrats, and the Republicans that signed off is running right now a run rate
Starting point is 00:07:57 of $3.7 trillion this year in deficits if nothing changes. And the media, all they have to do is say, to him to Hakeem Jeffreys
Starting point is 00:08:10 all they've got to say to him but what about the $300 billion dollars of deficit you are running every month now because of you and Biden and Harris
Starting point is 00:08:29 and your spending bills nope and they know it the media they know it the media they know what's out there. They know it. Nothing.
Starting point is 00:08:44 These people are committing what are not crimes legally, but they are crimes on you, the American taxpayer. Biden's for giving more student loans today. That you, the taxpayer, are paying with more debt. They're so lucky I'm not one of those reporters on Capitol Hill. they would kick me out. They would kick me out. $312 billion average the first two months of the fiscal year 25.
Starting point is 00:09:27 If you extrapolate that out 12 months, that's 3.744. And if interest rates go higher or the economy heads south, the number shorter rock, much higher. And they're whining and complaining that they don't have enough money. and you want to know why I'm pissed. And Trump now, tigers eating their young. In my humblest of opinions, huge mistake on his part.
Starting point is 00:10:12 Going after his own party when he should be doing that behind the door. Chip Roy is a very good conservative that cares about debt and deficits and Trump's trying to take him out. Insanity rules. And I got news for you.
Starting point is 00:10:29 two years from now keeps it up, Dems are going to have the house again. And you know them vengeful Dems have in the House and the committees, guess what they're going to do to Trump again? Just stating the inevitable if they don't get the job done. Just stating the inevitable
Starting point is 00:11:03 if they don't get the job done. Up next, today's market, much more. This is the one known. 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. We also provide a full range of personalized services, including retirement planning, fixed income, and educational needs, all to assist you in
Starting point is 00:12:00 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 a complementary portfolio review. The number to call is 888-4-2-5-59. That's 8-8-5-59. That's 888-4-22-55-59. Investment Advisory Services offered through Call Bomb Capital,
Starting point is 00:12:35 management. Hello, hello, I'm Malcolm Gladwell, host of the podcast Smart Talks with IBM. I recently sat down with IBM's chairman and CEO, Arvin Krishna, and I asked him, how can companies use AI to its fullest potential to create smarter business? My one advice to that, pick areas you can scale. Don't pick the shiny little toys on the side. For example, if anybody has more than 10% of what they had for customer service 10 years ago, they're already five years behind. If anybody is not using AI to make their developers who write software 30% more productive today, with the goal of being 70% more productive.
Starting point is 00:13:26 Yeah. So we are not asking our clients to be the first experiment on it. We say, you can leverage what we did. We're happy to bring out all our learnings, including what needs to change in the process, because the biggest change is not technology, is getting people to accept that there's a different way to do things. To listen to the full conversation,
Starting point is 00:13:46 visit IBM.com slash smart talks. Hi, I'm Dr. Jake Goodman, host of Beyond the Script, the podcast where I sit down with pharmacists to answer the health questions you didn't even know you could ask at the pharmacy counter. In this episode, we are diving into gut health, with CVS pharmacist Victoria Motola, who explains why so many of us live with stomach issues
Starting point is 00:14:17 we should not accept as normal. A lot of what I see is just like chronic bloating, chronic stomach aches. Like I get a stomach ache every time that I eat, and it just becomes like a lifestyle where, oh, yeah, you know, I just, I have a stomachache every day. Or I'm constantly feeling like gassy. And all of those things are not something that,
Starting point is 00:14:38 generally, if you have a healthy gut, you should be living with. So that's when we deep dive. We deep dive into your medication. We deep dive into your OTC medication. And then at that point, we can probably identify something that we can change. Hear the full conversation, plus some fascinating facts about how gut health affects so much more than just your stomach on Beyond the Script, a podcast from CVS Pharmacy and IHeart Radio. Listen now wherever you get your podcasts. Cashflow Crunch.
Starting point is 00:15:08 On Deck's small business line of credit gives your business immediate access. 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
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Starting point is 00:15:43 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. And just so you know on these continuing resolutions and this and that and they're, you know,
Starting point is 00:16:13 I was watching today and they're interviewing the House and the Senate and McConnell's up there and this guy is up there and that guy is up there, explaining what they have to do on the debt and the deficit and that. And all I'm doing is just writing down the person's name and then Googling how long they've been in the House or the Senate and realizing they're all the culprits and they're still in power. They're all the culprits and they're still in power. And they nauseate the hell out of me.
Starting point is 00:16:55 And of course the Dems are trying to make Musk the fall guy. They're calling him President Musk. and I think he needs to be careful too because he has a lot of influence and I think he's done some dumb things on Twitter I'm going to leave it at that you know my stance so this morning
Starting point is 00:17:20 I go to my screens the QQQQ is down eight bucks eight dollars that's 2% it's 2% last I looked
Starting point is 00:17:44 that's about 400 NASDAQ points the Dow was down about 350 this was about 730 in the morning like what the hell's going on here we knew the market was in
Starting point is 00:18:03 rough shape but wow we came in today very oversold what does that mean by oversold well it just means the Dow just dropped 3,000 points in the last two, three weeks. It means that the Dow got clonked on Wednesday from the Fed.
Starting point is 00:18:25 It means some of the oscillators that I follow were just bright red. And all that bullishness turned to bearishness. The VIX, the volatility index that I don't talk about a lot, was 20-7-8 bucks shot up too quickly and usually it comes down. Well, by the time the market opened, it opened okay, and then boom, we were up 800 points at the high today. What? In fact, we were 43216. That would be about, damn, 376.
Starting point is 00:19:08 We were up about 860 points at one time today, getting back a bunch of Wednesday. We finished up only four nights. but still finish up 498, which is good news. Though, when the Dow drops about 3,500 points to the low this morning, and it did open down, make it 3,400 points. You will eventually get a bounce. The job is to gauge the bounce, and may I be clear, I can't gauge it as of yet. But in a minute, I'm going to tell you what I can't.
Starting point is 00:19:48 can gauge. The NASDAQ at one time today hit 19758. That's another 180. Was up 370? Finished up 199.
Starting point is 00:20:07 We'll take the 199. And the NASDAQ did hold the 50-day moving average on the pullback and finished on the 21 day. so definitely better strength in the NASDAQ than the Dow. And of course the Dow suffers because of United Health, which is still down,
Starting point is 00:20:30 500, 610, 110 times 6.5. You can add that up, right? 660 Dow points in the last 10, 12 days. So good bounce today. And I must also say, at the end of the day, I guess they did some rebalancing today because I watched Tesla in the last, let's see, last minutes drop a bunch. I watched meta drop from 595 to 484 in the last 10 minutes. but I watched Apple go from 253 to 250.
Starting point is 00:21:23 They were rebalancing things. What that means for next week, beat the heck out of me. Just letting you know. But what I really want to mention is the sore thumbs as we go into the weekends. Just to give you a little heads up. By the way, I also noticed, got to make sure I see this right. or I'll take it back. Yeah, forget it.
Starting point is 00:22:00 Anyway, a bounce today. But I want to start by saying, you know all those areas that I've said to you to avoid? Well, they all bounce today. I scanned them all. They look like a blip. And what do I mean by that?
Starting point is 00:22:22 Well, I have mentioned to you a United Rentals, right? The URI, because I believe it's one the most important stocks in the economic sensitive area. It was up 11 today. We'll take it. It is dropped in 1, 2, 3, 4, 5, 6, 7, 8, 9, 10 days, $160. Bounced 11 today. A blip. Got to be careful about that. And in a downtrend. What we want to stick to is anything that's in uptrends, not downtrends. We are not interested in down 10 up 2. Down 20 up 5.
Starting point is 00:23:10 Stair steps to the downside. And as I did my scans, the oils, bad. Defense stocks had a better day today. Lockheed was up 9 today, in fact. The 488. Mid-October was 619. Down trend. And you do realize in downtrend,
Starting point is 00:23:33 you get bounces to relieve what we call oversold conditions. Drug stocks bounce today, but not NVO. Something about the obesity stuff that's down 18 bucks today. And by the way, that thing was 148 in June what was being touted because of the obesity drugs. I don't know what the heck's going on here. I really haven't followed it, but it got slammed today. They bounced a little bit of the transports. It was a blip.
Starting point is 00:24:05 They bounced the medicals today. I went through all of them. They were up today. Blips. Up next. Other blips? But then the important stuff. This is the one only investors edge. Hello, hello. I'm Malcolm Gladwell, host of the podcast Smart Talks with IBM. I recently sat down with IBM's chairman and CEO, Arvin Krishna. And I asked him, how can companies use AI to its fullest potential to create smarter business? one advice to them. Pick areas you can scale. Don't pick the shiny little toys on the side. For example. If anybody has more than 10% of what they had for customer service 10 years ago, they're already five years behind it. If anybody is not using AI to make their developers
Starting point is 00:25:22 who write software 30% more productive today, with the goal of being 70% more productive. Yeah. Wow. So we are not asking our clients to be the first experiment on it. We say, you can leverage what we did. We're happy to bring out all our learnings, including what needs to change in the process,
Starting point is 00:25:41 because the biggest change is not technology. It's getting people to accept that there's a different way to do things. To listen to the full conversation, visit IBM.com slash smart talks. Hi, I'm Dr. J. Goodman, host of Beyond the Script. the podcast where I sit down with pharmacists to answer the health questions you didn't even know you could ask at the pharmacy counter. In this episode, we are diving into gut health with CVS pharmacist Victoria Motola, who explains why so many of us live with stomach issues we should not accept as normal.
Starting point is 00:26:23 A lot of what I see is just like chronic bloating, chronic stomach aches. Like I get a stomach ache every time that I eat. And it just becomes like a lifestyle where, oh, yeah, you know, I just, I have a stomach kick every day. Or I'm constantly feeling like gassy. And all of those things are not something that generally, if you have a healthy gut, you should be living with. So that's when we deep dive. We deep dive into your medication.
Starting point is 00:26:48 We deep dive into your OTC medication. And then at that point, we can probably identify something that we can change. Hear the full conversation, plus some fascinating facts about how gut health affects so much more than just your stomach on Beyond the Script, a podcast from CVS Pharmacy and IHeartRadio. Listen now wherever you get your podcasts. Cashflow crunch. OnDex's small business line of credit gives your business immediate access to funds
Starting point is 00:27:14 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 ondeck.com. Funds could be available as soon as tomorrow.
Starting point is 00:27:33 Depending on certain loan attributes, your business loan may be issued by OnDec or Celtic Bank. OnDak does not lend in North Dakota. All loans and amount subject to lender approval. We're listening to. America is talking. Investors Edge. He's got to be pleased with that. The crowd is just on its feet here.
Starting point is 00:27:54 He's a Cinderella boy. With Gary Colbomb. It comes highly recommended. You're going to feel better if you talk to him. And welcome once again to Investors Edge. Whenever I see a headline like this, I read it to you. Downfall of America's most famous retailer hits new low, his beloved brand is left clinging on in only four states.
Starting point is 00:28:24 Sears. I'd even know Sears still had stores. It used to be the largest in the country. They just closed an outlet in the South Center Mall in Tuckwillah, Washington. The store was there for three decades. Sears only has eight stores left in California, Florida, Massachusetts, and Texas. Why is Sears gone? Why is Kmart gone?
Starting point is 00:29:03 Because they refused to Walmart themselves. They never changed with the times. In case you don't know, these places sell the same thing Walmart sells. Kmart sold the same things Walmart sold. Welcome to the world of you better keep up or you're going to get going. Especially in retail, ladies and gentlemen. And in retail, it's not hard to figure out. You just go to the stores.
Starting point is 00:29:54 As I mentioned earlier in the news, I love the media. The Democrats are never extreme. Republicans are the extreme. Republicans are hardliners. Democrats are just Democrats. That's your media. Anyway, they're saying GOP hardliners fail Trump-backed bill last night.
Starting point is 00:30:23 They're calling people hardliners who want efficient, effective government without gargantuan deficits. Are they hardliners or they are the reasonable ones? You tell me, but the media reports them as hardliners. I call them heroes. I call Chip Roy, who Trump is trying to get rid of, a hero, because he's tired of the debt and the deficits. Now, Trump wants to get rid of the debt ceiling. There is no debt ceiling. A debt ceiling means debt doesn't go any higher. They break the ceiling every time. So that don't matter.
Starting point is 00:31:17 Better English doesn't matter. So that's going on over there. And I guess I think they're going to maybe vote tonight on something stupid. By the way, they started with a 1,500-page document. The Republicans got it down to 150. And in that 1,500-page document was a raise. for these people. They want to raise while they're running
Starting point is 00:31:45 $300 billion deficit when they should be in jail for what they're doing to this country. That was that. That's a little bit of your news today, ladies and gentlemen. But I did have to start it. I did have to start it. I did have to start it with that meme coin from this woman.
Starting point is 00:32:24 or a Paley Welch. Careful with your money, kids. Okay. Back on the markets that were crazy today. And they could have been much better, but they still had a good day. But in comparison to the drop, maybe it's a start.
Starting point is 00:32:58 There are hardly any new highs in the market. A lot of new lows came off today. The advance declines much better today. finally had a good day. That's normal. What I do now, today's first day up in a while, what stocks are already showing
Starting point is 00:33:20 their strength? What stocks are already what I would call in gear? And they're not many, but I can tell by my scans where the relative strength is. Apple hit a new yearly high today. At the end of the day, again, some rebalancing,
Starting point is 00:33:48 but we don't rationalize. Urban Outfitters. This is NASDAQ. Ali's bargain. And I'm not so sure that's a dynamic one, but it's a good retailer. That's it for the NASDAQ new yearly highs. There's a few others, but I see there $3 and $4 with no
Starting point is 00:34:08 sales. Or just not worth mentioning. On the New York, new highs. Tiva Pharmaceuticals. Alaska Air. The airlines have stayed pretty darn strong. Decker's outdoor, the Ugg boots, New Yearly High. Something called Glacos. G-K-O-S is the symbol. I'm going to mention that one. as I go down the list, I really don't, and there's a few more, really don't want to mention any others because they either don't have a lot of sales, lose a lot of money, or low-priced, or non-operating companies. So there's not a lot of new highs, but there is strength. And I'm just going to let you know what's showing inordinate strength on the first day up,
Starting point is 00:35:11 which means maybe something to the future. Everything has to be babysat going forward. But as of this second, things like Palantir, Google, Netflix, I would say Tesla, but that finished crappy and it's still in the trees. Broadcom, which was really strong early. I don't think it finished that great. Let me take a look. Yeah, they pulled it back.
Starting point is 00:35:44 Rebalancing. But still strong. Reddit, to name a few. In financials, American Express looks like one of the strong ones in BlackRock. In a sea of things that have pulled back pretty decently and need some work. Mastercard and Visa act pretty darn well. SAP. That would be a German software company.
Starting point is 00:36:19 strength, to name a few. And what I'll just do this weekend is run through them and run through them again and run through them again. And I have to make decisions. Do I think the market's got more to the downside? Or do I think we've hit a low? And I must tell you, I don't know just yet. It's been a harrowing week or so.
Starting point is 00:36:50 It's been quite icky. And we're dealing with things. What if the government shuts down? Which I don't think it's going to. There's no doubt in my mind, these politicians are going to get something done. What they do is just pull the wimpy from Popeye. I'll pay you Tuesday for a hamburger today. They'll put us in more debt.
Starting point is 00:37:21 So those are just a few names. And let me state for the record, we didn't tell you to buy them, sell them, short them, or cover them. We're just letting you know whether. the relative strength is. And Monday's another day. Next week, Monday. Tuesday, a half day, I don't understand why they have a... I don't understand Wall Street has half days.
Starting point is 00:37:44 Just give us the freaking day off. But Tuesday is a half day, Wednesday, Christmas. We'll be back Thursday and Friday. Tuesday and Wednesday will be the best of Gary. I'm not sure which shows we're going to do, but usually when we have two days in a row, we do the bare market. We did years ago a bare market two-day radio show to describe how bare markets work. You should listen.
Starting point is 00:38:13 Up next, this, that, and the other thing. And then I'm headed on another airplane. This is the one only investors' edge. Hello, I'm Malcolm Gladwell, host of Smart Talks with IBM. I recently spoke with IBM's new director of research, Jake Gambata. we discussed his vision for the future of quantum computing. At IBM research, what we always do is answer what is the future of computing, whether it's coming up with new algorithms, coming up with better AI,
Starting point is 00:39:09 coming up with quantum, or coming up with just how do different accelerators go together. It's our DNA to answer the question of what is the future. Isn't it a perfect problem for IBM because you kind of need to have a legacy of building stuff? Yes. building actual physical machines. Yeah, it's why I came to IBM. I wanted the experience, the culture of building hard things that others have not done before. Where do you imagine we are in the timeline of this technology?
Starting point is 00:39:42 There will come a point when it will mature. Right? My cell phone is a mature technology at this point. How far are we from that point with Conton? By 2029, we'll build the first fault-tolerant quantum computer. That is one that can run a very, very large, large problem. To learn how IBM is building the future of computing, visit IBM.com slash quantum. Hi, I'm Dr. Jake Goodman, host of Beyond the Script, the podcast where I sit down with pharmacists
Starting point is 00:40:18 to answer the health questions you didn't even know you could ask at the pharmacy counter. In this episode, we are diving into gut health with C.S. V-V-S pharmacist Victoria Motola, who explains why so many of us live with stomach issues we should not accept as normal. A lot of what I see is just like chronic bloating, chronic stomach aches. Like I get a stomach ache every time that I eat, and it just becomes like a lifestyle where, oh, yeah, you know, I just, I have a stomach ache every day. Or I'm constantly feeling like gassy. And all of those things are not something that generally, if you have a healthy gut, you should be living with. So that's when we deep dive.
Starting point is 00:40:58 We deep dive into your medication. We deep dive into your OTC medication. And then at that point, we can probably identify something that we can change. Hear the full conversation, plus some fascinating facts about how gut health affects so much more than just your stomach on Beyond the Script, a podcast from CVS Pharmacy and IHeartRadio. Listen now wherever you get your podcasts. On Deck is built to back small businesses like yours. Whether you're buying equipment, expanding your team, or bridging cash flow gaps, OnDex loans up to $400,000 make it happen fast.
Starting point is 00:41:33 Rated A-plus by the Better Business Bureau 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. What are we waiting for? Well, what are you waiting for?
Starting point is 00:41:56 One. Ready, go Ininvestors Edge With Gary Kaltba And well, once again To Investors Edge It was kind of weird day for the Bitcoin It was down, but Microstratology was up
Starting point is 00:42:37 30 bucks That's just a weird thing Just so you know when you have a chance Go look at Micro Strategies chart Hit the 50 day within like five cents And just bounced off of it early in the morning Big Wow I've received about 40 emails.
Starting point is 00:42:54 Do you think we're going into a bear market? And I've said on radio. I think we already have bear markets in different areas. But overall, I don't think so. But if I ever said to you, Broadcom, Apple, Amazon, booking, holding, Salesforce.com, Costco, Google, Microsoft, Meta, Netflix,
Starting point is 00:43:13 Nvidia, SAP, and Tesla are going into a bare market. There's your big indices. And all act pretty decently. except Microsoft does not act that well and then of course in a few weeks we'll have earnings and we'll see what comes from that
Starting point is 00:43:37 yields were down on the 10 year.46 today but I think at one point was down 0.80 we want yields to come down for two reasons A it's better and B you got to bail out
Starting point is 00:43:55 Jay Powell if yields keep going up while he lowered rates, that will be a problem. I promise you, that will be a problem. I want to thank all the emails on Neil Cavuto. As I stated yesterday, I've never had dinner with the guy. Never been out with them, but have appeared on TV with them 500 times. and I guess you can tell by a person by reactions on social media.
Starting point is 00:44:37 Sure, you had your ass clowns that he's a never-trumper and stuff, which is a bunch of bull crap. He complimented Trump more than anybody, but he also took Trump the task on the not good, just like we have. But most everybody that knew him have nothing but great things to say. case you don't know, open heart surgery, multiple sclerosis, had a real bad pneumonia, COVID, cancer. He's gone through everything, and he's done it with a smile and has worked his tail off during all that time. And as I've said to you here, I complain when I have a cold. Wherever he lands or whatever he does, I will be watching because he's one of the, one, if not the, bright as bulb in journalism.
Starting point is 00:45:46 I'm hearing now Tesla dove into the close. The company announced it's recalling the 2004 cyber truck, the 2017-25-Model 3, and the 2020-to-25 Model Y for warning light issues. Okay, whatever. I don't think that should affect it for too long.
Starting point is 00:46:16 I'll be flying this weekend. I will report to you on Monday about how it is out there. My family flew into Florida and they said it was pretty busy. I can tell you safely that prices are up for flights, so they're getting what they want. And of course, the pay for seats are a joke. Very high. I haven't talked much about the real estate,
Starting point is 00:46:41 but here's a little real estate report. Not a lot of sales going on in Florida, kids. at all, and price is coming down from Fantasyland. And we've been watching from every price point. As I said to you, there are people that are putting up houses that were $2 million three years ago for $4 million. And they ain't getting it. And then they go to $3.5. And they ain't getting it.
Starting point is 00:47:14 I don't think they're getting three. I don't think they're getting $2.5. Is that a disaster? think so. I just think people are insane. We'll see how that plays out. And it's happening in many cities in Florida. Fantasy land, we call it. Quite the fantasy land. My hopes that today was some sort of real good low. Can't go there yet. And to be clear, if it is, leadership is going to be narrow. And we don't mind narrow as long as they keep working. My biggest worries remain, all that debt, all that deficits. And they don't do anything about it, even though
Starting point is 00:48:19 they've been beating the drums from the new administration coming in and the 10-year yield. If it comes down, good, if it goes up, not so sure it's good. I have a question on why all the economically sensitive stocks have been getting hit hard? Is that telegraphing something? I must tell you that months ago when we had a bout to the downside, I asked the same question, and the economy did not suffer, though I am worried. A lot of the GDP, a lot of the GDP is government. It's out of hand.
Starting point is 00:49:02 300 and something billion dollars a month over spending. If they weren't running deficits, what would that mean to GDP? But that is the necessity. We got to get rid of this debt or else. It will blow up eventually. Always has. Always will. Until next week, you have a great weekend.
Starting point is 00:49:42 Drive carefully when you get home, do like we do. simple. Make sure you hug your family. Make sure you hug your children. They will feel better. You will feel better. I promise. Stay well, be well. And by the way, for the holidays, if you are able, and if you'd like to, try to do something for somebody you need absolutely nothing from. Good night, all. Bye-bye. This has been Investor's Edge with Gary Kaltbaum on BizTalk. To listen to past episodes or to get in contact with Gary, go to GaryK.com. That's GaryK.com. Success starts with your drive. An American 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,
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