Investor's Edge with Gary Kaltbaum - Set-Ups!

Episode Date: November 30, 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 Colbom, your host day.

Thanks of being with us today. Glad you here, ladies and gentlemen. Happy that you are listening. It's November 30th, the end of the month, 2022. And as you're just, you know, we're very careful with our words. We'll be even more careful with our words today, but on the good side. But first, anybody who knows me knows I'm a music guy. We have Toju, who are favorite groups of all time are. In no particular or but the first few,

Rush. Genesis. Yes. The Who. Led Zeppelin. The Rolling Stones. The Beatles. Queen. I'll even going to mention Pink Floyd, even though Roger Waters is an anti-Semitic piece of crap. Did I mention the Beatles? I should. I've never been like a big Metallica or Iron Miner. Aiden. Oh, ELO. Eagles. I've never been Aerosmith and Kiss. Though, I don't mind them. Van Halen with either-or singers. But you know, it was right in there. Fleetwood Mac. And I was stunned today. Stunned. Christine McVie passed away of an illness that nobody knew about. And the amazing part about it is because you don't even think about it. She was almost 80 years old, 79 years old. And you do not think of these people as being old. And then I realize, oops, I'm up there now.

Not that old, of course. Tom Petty passed away. By the way, Tom Petty is definitely in that realm. of groups. Glenn Frye passed away and so many others that have passed away

and I'm just thinking to myself you know the drummer for the Rolling Stones man oh man A it hit me Bowie passed away six years ago it hit me that she passed away and then doubly hit she was 79.

And by the way, there's also you two and Bon Jovi. They're all, they're in my bottom. You know what's gone up big recently, foo fighters? But man, oh, man, oh man. I got to see Fleetwin Mac without Christine McVie at the Barron conference a few years ago. I got to see with Christine McVie. I'm going to guess I don't know what year it was

maybe 2015 in Vegas maybe it was before that I'm going to have to double check anyway I just wanted to start with that because I know my audience and I know you're all thinking the same thing anyway

another one we have to say rest in peace but let's get past that and we're going to just get right to the get-go and we just want you to listen very carefully because I can read to you a lot of here's one from somebody I really respect that came out yesterday time to take profits the rally off October lows basically saying is over the NASDAQ 100 is lagged badly and will continue to do so another one that I follow is saying we're going into a very deep recession

and the market's going to break the lows. It's okay. I'm not going to name names. No, it's not okay name. Here's one. You should expect an S&P 500 between 3,3300 sometime in the first four months of 2023. That's somebody else.

We just watch the freaking market. That's all we do. and it's been a very tough market. We have always said to you, you know what the toughest part of bear markets are, is the rallies, is the rallies, because you don't know how long they last, how far they're going to go. And I have to tell you, we have some holdings coming into today, but I got to tell you, I was ready to sell the last three days anything we had. But we knew one thing.

That November 10th, big gap to the upside. Remember that? which we said potentially change in the complexion. And then we watched how for three weeks the market's done nothing and how we have been telling you, boy, the NASDAQ, the tech suck, laboring badly, terrible action. And we've been saying, man, if they don't catch up

or play some catch up, if the market comes in, they're going to break down and go into new low ground. This was all before today. This is what we have said to you. And we have not been able to what we call hurl the ringer. You know what hurl the ringer is? It's from some movie. It means really go at it.

Get going. Move forward with abandon. You know what I'm saying. Without abandon. And today the market was doing squawry. and then Jay Powell had a speech. And as we have told you on this show, we hate, we loathe. It sickens us that we have to deal with this misery.

Not of a human being. We don't know the guy, nothing personal, but we think he's a horror show. He should not be doing what he's doing. He created all the problems. But the market still listened to him, meaning we have to listen. Meaning we have to deal with, meaning we have to react to. This guy created the massive bubbles, the gargantuan bubbles that have all crashed. So we know he still has his little fingers on the spigots.

So we always must pay attention. So the last three weeks after that move, the market's done nothing. But you know what they have done? they have sat tight. What does tight mean? They sat. A little pullback, but sat. And after a move up, as we've always explained,

after move up, if you can sit tight, that gives potential. Doesn't mean it has to. It gives potential for what do we tell you? A stair step. Up next, the market wrap. we're not even going to tell you what he said. We're just going to tell you the outcome. And much more, 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,

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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, your performance. 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.

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just again stunned today about Christine McVie I'm no idea, 79 years old. That was the stunning part. That was the stunning part. So today, at 130 p.m., the Dow was at 33659. It's not like 140 points. The Dow was actually underperforming today at 130. Let me get that number again. 33.33. I'm actually writing it down. 33659. The NASDAQ at 130 was 11,004. And that was up 20.

So the Dow was down, what, 150? Let me get it right. Let's call it 150. I'm off a little bit. The NASDAQ was up 20. J-PAL puts out a speech. What they do is they put it out there before he actually does the speech. You got that?

Again, it was 33-659. I want to make sure I got my numbers right. 33-659-930. Excuse me, the Dow was down 200 at that time. The Dow rallied and finished on the closing 10. today. 34-589, 930 Dow points from 130 to the upside. The NASDAQ finished up 484, so rallied up 464 points into the close on whatever he said. Now I want you to listen carefully because this is the most important part of the equation. For us, it's not what he said. Couldn't give a

crap what he said. It's what the reaction was to what he said. We don't get paid or lose money on words. We get paid or lose money on price, performance, up or down. And the reaction to whatever he said was very strong. But that's just one part of the equation today. And I'm going to give you out some numbers that you may want to know. What's important about today is the indices got back right at the highs of the last three weeks with some things moving above those highs. And very simply, a move above those highs and the ability to stick will give us another leg up in this market.

Simple as that. Remember what we tell you here about price. Stair steps. They're either going down or up, or sometimes they'll sit around for a long while. In this case, we rallied up, sat for three weeks, with some pullbacks,

with some warts, and then today, boom. Now let me repeat a few things so you don't mince my words. You've got to move up above the highs of the three weeks and stick. Why does that matter? Because if that occurs, the big money recognizes it and they add more. Just like when it goes to the downside, the big money recognizes it and sell some more.

So very strong last two and a half hours. You can go read what Mr. Bubble said. We don't give a crap. We only care about reaction today. The NASDAQ high recently was 11492. It closed at 11468. The NASDAQ 100 was at 12024. It closed at 1203030.

The S&P 500 has already gone through it. it was 4,035, we got 4,080 at the close. And as you know, the NASDA, the S&P has been stronger than the NASDAQ and the NASDAQ 100, which has not as been strong, the S&P has not as been strong as the Dow. And what happened today was of really interest. Because you know what they actually did today? During those two and a half hours, for whatever reason. they bought the crap out of the big guys and moved above a little range on some of them.

Keep in mind, these big guys have been very, very weak. But that's important. Because if the big guys move above range, so like Microsoft moved above 250. For instance, Netflix, hasn't moved above the 312 yet, but you can tell Netflix is going to want to. Apple, which has been just dead, was up six today. I can't give that a good mark as of yet. Amazon was up four today. I can't give that one a good mark either.

Google, that moved above 98 and then a little bit above 100. That was an maybe important area. And then we'll see what the rest brings. We're just letting you know. Got some very important move today. Let's just hope it sticks. And of course, the one thing that did occur again, that has been the direct correlation, the dollar dropped and yields dropped.

And both are at the lows of the last three weeks, and if they break the lows of the last three weeks, yields and the dollar should be of help to the market. Now notice, I still didn't mention Mr. Bubble. I'm going to let you take a look. I've already done a bunch of scanning in the last half hour of the market, and up next we'll have more on this. I'm Gary. This is the one only investors edge. This message is brought to you by the Capital One Venture X card.

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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 Spreaker distributes it everywhere people listen. Apple Podcasts, Spotify, and about a dozen 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 Spreaker. 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. 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 Colbomb. It comes highly recommended. You're going to feel better if you talk to him. By the way, on the Christy McVee, I message the fish man.

and said about Christine McVille, because I said, man, am I old now? And he goes, yeah, we are getting old. And then he messages me back. Yeah, and Bo Jackson turned 60 today. I still remember where I was when Tiger Woods, when his first masters, I was thinking about that today because he didn't mention,

I don't know if he's going to be able to play too much or that car accident really got him pretty good. But man, oh man. The days are going by quickly. Okay. So we're just letting you know it was a very good market day today. Enhances the last three weeks. And as we always do, we will take it day by day.

But technically, and there is no better technician on earth than us, that was a really good day today. And just because something breaks out doesn't mean it's going to work. Breakouts fail, but not usually when it's the indices doing it. Some of my best work has been on when the indices break out. We have told you in the past, 2013, the first day of the new year, a bunch of indices breaking out a range, the weaker indices, bottom, and guess what happened the next six months?

years ago there was a moment where there was like 13 Dow stocks breaking out within three weeks of each other what do you think the Dow did after that you got it and the other thing by the way just so you know we're saying all this just so you know salesforce.com which was up nine bucks today with the technology is down nine bucks in the aftermarket on earnings We're saying that, knowing this. Snowflake is down $17 in the aftermarket to $1.25. On the other end, you've got a couple up nicely. Synopsis is up nicely.

Octa, which has been a destroyed stock's up $7. Either way, we're just reporting to you what we're seeing. And I just want to add something else. You're listening? because as we tell you, we ignore everything, but we listen to everything that comes our way. What does that mean? That didn't make sense, right? Well, let's start.

We listen to everything. It's not hard. You know why. As we have told you, we get things through Twitter forwarded to us. We have listeners and viewers. from Fox that email us, people in industry, market players, for lack of better word. There's a lot of people staying bearish. Even after today, they're putting out notes. Deep recession coming. Markets gone to 3,000 S&P. And one of them's a little buddy of mine.

And I kind of DMed them, messaged them, dude, you ain't listening to the market. Maybe this thing craps out tomorrow. All we know is today. That look pretty darn good and technical setup, really darn good, with what you need to occur. And that is the dollar dropping and yields dropping. ladies and gentlemen, we'll see what tomorrow brings. As I speak because I'm ambidextrose, I'm actually scanning as I speak. And you know what I'm able to do today?

Put down a symbol and put an arrow next to it with a number. Which means this stock is setting up to break out above this. By the way, most are not at New Yearly highs. Most are not leadership, but we look where the indices are coming from, and that's what we're talking about here. And all I can tell you, if the indices want to have a good December, listen carefully, if the indices want to have a good December, today was a good starting off point. You got that? We also, on the second pages I scan, the names I have absolutely no interest. in because they're so damn weak.

So we're doing both. And I repeat, we're telling you this with a couple of crap outs and one Dow name which is now down $11 in the aftermarket. By that, that'll be about 70 Dow points. But remember,

the market is bigger than a stock. And man, whatever the market reacted to today was pretty freaking damn good the reaction. And when you have a chance, go read it, what he said. We don't care. What we care about is yields came down, the dollar came down, and they lit up an important area that has been dead, absolutely dead.

Now whether they go for a long while, don't know, all I know today a good move. Now I also got another email, all today was short covering. They don't know that. that, they're guessing. Of course you have short covering on a daylight today, but you don't get these numbers on just short covering. I know this by rule, and that's the gist of it. That's all. So when you hear people talking big recessions, don't buy the market, we tell you, you better take a look at the market. When people say we're gone into depression, don't buy the market. We say, go look at the market. Just like all the way down, when people were saying, don't sell,

we were telling you, looks like we're headed lower. As we have stated, pay no attention to the perma bulls and the perm bears. The perma bills will kill you in the bear markets. The perma bulls will keep you out of the bull market. Excuse me, the perma bulls will kill you in a bear market. The perma bears will keep you out of the bull market. And both will have their very good reasons. But the only thing that matters is the market.

And we have studied the best of the best of the best. The Stan Weinsteins, the William O'Neills, the Gil Morales, we've read Darvus. You name them, we've read them. we've added our own things. We teach others. And man, today was a good day. But it has to stick.

And yeah, we're already getting emails also. Oh, it's end of month. Okay, fine. They didn't know that at 1.30 p.m. today. So that's the gist. That's the thoughts. We'll see where it takes us. Hopefully we're off to the races.

Not sure, but very good day. Up next. This, that, and the other thing, whatever else. 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 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, Sprinker 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 swears are the next big thing. Even better, Sprinker 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 VentureX 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!

Investors Edge. With Gary Culper. And welcome once again to Investors Edge. I'm Gary Kalpom, your host. A thanks for being with us today. hope you are having a good day now as I said to you

we're not going to get into the crux of J-Pow but we do want to touch upon just two things he said first one no one expected

interest rates to rise this much or inflation to spread so widely we were one for two on that. We told you inflation was going to spread. We had no idea interest rates would go crazy. So number one, he don't know what the hell he's talking about. Just want to start with that because the misinformation is quite the laughable getting some things sent to me. I've almost considered drowning out everything, but I actually can't because there's too many things I can counter against.

And there are what we call, how do I put this? Wrong way Feldman's. You know what wrong way Feldman is? It was a character on Gelligan's Island that couldn't find his way. Seriously. So just a couple of things that

Mr. Powell said, quite laughable. The second thing, he said the Federal Reserve is all about stability and I can dunk a basketball I can throw a football 70 yards

I will be winning an Academy Award this year stability took rates down to zero created the massive bubbles in the crypto in the marijuana in the short squeeze stocks in the SPACs which, by the way, they're all crapping out the SPACs.

In case you don't know, they had to merge with a company after two years and they can't even find companies. The ridiculously price IPOs, the no-sales crap, electric vehicles, battery makers, everybody's going to be doing that. No. He screwed every saver. He distorted all price and yield. causing the massive move in interest rates. He created the greatest wealth inequality in the history of the world. He caused the inflation.

But he said today they're all about stability. This dude is so lucky that he's got us. All of government is so lucky they have us. They think it's the other way around. What would they do without us? Not so sure. But to backtrack again, November 10th, you got that massive one-day move, three weeks of nothingness with a continue big-time lagging of the NASDAQ and NASDAQ 100 types to the point where I have been saying, if the Dow types and the rest start coming in, I worry about the NASDAQ just breaking to new yearly lows. but instead to whatever that was in this speech,

they lit the flame and got another move today and a strong move and a volume move and an important move on some important names that are meaningful to indices. Into December, into the end of the year, where you do, without a doubt, have seasonal strength. Suppose it. So if price sticks on this move, I expect institutions to come in with more.

Let me repeat again, just like in bare markets, when you break stair steps lower, it invites more selling from the big institutions. And in case you don't know, regardless what anybody tells you, because they're wrong. it is the big institutions, the big mutual funds, hedge funds, insurance companies, and the like that are driving force behind markets. Not Aunt Mary and Uncle Bob. God bless Aunt Mary and Uncle Bob. To the extent Aunt Mary and Uncle Bob own the mutual funds, they're involved. So very good day today.

We'll be doing double scans tonight. But man, covered some territory today. in some very important names. And we'll see, you know, like we said, Salesforce.com is down $11.15 in the aftermarket. We'll see what that means. Snowflake is down 17 to 18 in the aftermarket. We'll see what that means.

But remember, the market is bigger than the sectors, and the sectors are bigger than the individual names. I also have to add in, you are definitely getting better tone in some foreign markets now also. China's been rallying even though they're insane over there, the government that is. So tomorrow will be another day. I'm going to play some Fleetwood Mac when I get off the air.

You have a great evening drive carefully. And 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. Tomorrow I'll be on with Varnie and company, I believe, in the 9 o'clock hour.

Check me out. and I'll be back the same time tomorrow on this show. Have a great evening, everybody. Thanks for joining. Bye-bye. This has been Investor's Edge with Gary Cult Bomb on BizTalk. To listen to past episodes or to get in contact with Gary, go to GaryK.com. That's GaryK.com.

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.