Investor's Edge with Gary Kaltbaum - Tech wreck part 2 [07.18.2024]

Episode Date: July 18, 2024

https://garykaltbaum.com/

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diagonal, term, subject to change. 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. A thanks of being with us today.

Glad you here, ladies and gentlemen. Happy that you are listening. I know it's Thursday. It is July 18, 2024. We hope you're having a good day. We really do. In case you don't know, this is serious talk about everything that affects you. We will cover the economy, the markets, your jobs, your industries, the debt and deficits brought by the Morlocks in D.C., the election, scams, shams, corruption.

You will name it. I will, you name it, we will cover it with no agenda. no ulterior motive no bias and if you do not get this radio show in your city we'll post it at gary k.com we'll also post it on our Twitter feed which is now X

and if you don't follow us on Twitter you should you can email me just be nice we really don't suck and we're really nice if we had friends they would tell you so we start the show

away from the markets because there's so much going on for months we have been telling you that they would throw Joe Biden over the bus under the bus yeah over the bus how do you throw somebody over the bus we told you that

six months ago five months ago four months ago and we simply stated we never even brought up his age we never brought up You know, the way he walks now and talks. And by the way, unfortunately, I feel terrible for the guy in that he is aging very quickly. He can't even utter sentences, and I'm not making fun of him like others.

I have a 92 and a 91-year-old mom, and you're going to deteriorate. But I digress. Today's Thursday, I think it was Tuesday. Maybe it was Monday. I said to you by August 1st, he's out. And I said that because I know Washington, D.C. very well. I'm not from D.C. I've never been a politician, but I've studied them. I've also studied the media.

And let me explain the media and Washington, D.C. They have colluded throughout the years. They have colluded on messaging, on stories, and on blacking things out. For instance, for three years, immigration was never brought up, even though millions and millions flocked through the border illegally. And by the way, it's illegal. The media finally started talking about immigration because they got a message from Biden to talk about immigration.

That's how it works. Joe Biden saw his polls on immigration that were a horror show. So he got with his buddies in the media and all of a sudden they started talking about immigration. And what did the media say? The Republicans refused to back a law by Biden on doing something about the border. And I'm thinking to myself, did they even get worse than they were in the first place? For three years, we were told on video, on tape, on live from Biden. Mayorkas and the rest, the border was secure.

No, the border is secure. No, the border is secure. Oh, the border now is in trouble. But it's the Republicans' fault. And of course, the media ran with it, and Republicans gave the middle finger. But that's how it works. And all we did in the last two weeks noticed two things, the media started ripping Biden. But wait a minute, Gary, they get the message from Biden.

well, there's a higher power above Joe Biden, Nancy Pelosi, Barack Obama. And they got from them, we need to have him out. That's what happened. And all of a sudden the media started asking some tough questions. Oh, my God, random acts of journalism from the media. And then we hear the leaks. We hear the leaks that. Schumer said to Biden, maybe you want to get out. You've done a great job. We hear leaks that

Pelosi did the same. We're hearing leaks today about Obama. So the fix is in. And I said to you August 1st, I actually think now it may be by the end of the weekend. And there's a simple reason. If they thought Joe Biden can win the presidency, this would not be happening. Remember, it is an electoral college. It's by the states. And as we have told you, there are five very important states, Pennsylvania, Arizona, Georgia, Michigan, North Carolina, North Carolina. Trump is leading handily in every one of those states. That's all. That's the story.

He's been thrown under the bus. But I must state for the record, besides he's the worst, most leftist president ever. We feel terrible for his health. We do. And we feel terrible. that he would hang on for so long. I've been watching his interviews, and we've never talked about him as far as the health-wise.

He can't even get out sentences off a teleprompter. He has to stop in between. His gate, G-A-I-T, my father at 92 walks about just like him. my mother at 91 walks just about like him he should not go another four years we're just talking he should not go for another four years it is actually the right thing to do I think by the end of the weekend it'll be party I think all they're doing right now how and who now it has to to be Kamala Harris at the top. And there's a simple reason why. Politics. You remove a black

woman vice president? If Biden steps down, you're screwed. And then I suspect for vice president somebody out of Pennsylvania or Michigan. And I would not be surprised if it happens by Sunday. Next, with no bias, we talk to you about the attempted assassination of Trump and the murder of another man. My investigation, my unbiased investigation, based on video, not what somebody said. Video. If I, Gary Kalpom, wanted to let someone take a clear shot at the President of the United States, That's how you do it. They identified this prick.

For minutes did nothing about him. Somehow let him get up to the roof. People were yelling and screaming that there was somebody crawling on the roof and he had a rifle. The authorities knew all this. And they still let the president be a sitting duck, hopefully they get to the bottom of this. I am not saying this was done on purpose. I am saying if I wanted to have the president shot at as a sitting duck,

that is how I would be doing it. Identifying a perpetrator and doing nothing about that perpetrator as he walked around untouched, climbed up to a roof, crawled on the roof was identified by the many on the roof the many telling authorities about him on the roof and he was able to get shots off

are you freaking kidding me that's my take on that what are both these things have to do with you and your money in the markets well trust in the system up next the markets

Much more. I'm Gary. 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. 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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sent off your first order with Code Comfort. That's Tommyjohn.com code comfort. Tommy John, Comfort perfected. 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 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 spreeker.com. Sprinker, because if you're going to talk to yourself for an hour, you might as well publish it.

It's time to switch on the integrator units and get the brain cells work. 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.

As a Jew and as an American, I was very happy to see at the Republican convention. They had families of hostages speak. and the audience spoke in unison about freeing the hostages. If at the Democratic National Convention, they don't, you can fill in the blank. My last thought on that, because speeches are speeches. President Trump, by the way, will be speaking tonight.

his speech, we are being told that he changed the whole speech from attack dog to unification. We'll see. My last comments has to do with something I never do. In case you do not know, I do not watch or pay attention to opinion people. on either side of the aisle. Why? Because as I have told you, on either side,

if the other side does something good, they don't mention it. If the other side does something bad, they rip them to shreds and vice versa. So we believe there is nothing to gain out of that. I never watch. Last night, I turned on a channel called MSNBC.

And it is a very left channel, far left. They were covering the Republican National Convention. I would say this to their face. Slime would be too good to define people that as the families of the hostages started speaking, they left the speech. One of the women compared Joe Biden's heroism of fighting COVID versus what Trump did upon being shot. These people are ill. And I do know that all of them are in the tank to a certain extent.

But there should be moments in time of a little humanity. and just what we call here, just do the right thing. Just do the right thing. I watched for about 10 minutes, and I'm a pretty even-tempered dude. I was actually throwing out F-bombs at the TV while my dog was looking at me like I was nuts.

We know they hate Trump. We know they hate the Republicans. Do they hate the hostage families? And by the way, Gold Star Families. Remember they complained about Trump and Gold Star Family? And they had that one man on TV every night. They wouldn't even show the Gold Star families.

MSNBC. We segue. Because we're good at segueing. Number one. Netflix reported earnings after the close. One of those important names. Closed at 643. I have it at 624 in the aftermarket down $19.

It already broke the 50-day moving average. By the way, it was as low as 610 about five minutes ago. So that's just Netflix. And we'll cover all the big earnings of ports as we move forward. The Dow was down 533 today. The S&P was down 43. The NASDAQ 125. The NASDAQ 194.

The transports were down 284. Advanced declines suck today, the opposite of what we saw for a few days. So let me give you the good and let me give you the not so good. The good kind of sort of normal to pull back for these areas that pretty much came straight up since Thursday. That's the good. It's normal. The good. The banks got hit today.

But again, I would suggest kind of sort of normal to pull back. The not so good. I'm not so sure I like the way it's pulling back. The not so good technology. They busted up a lot more names today, as we have warned you, about technology stocks. That while the broader market picked up starting Thursday technology, NASDAQ dropped 600, yes. $512, NASDAQ 100, 600.

The only good thing I can tell you is the NASDAQ was down 125. It was down 200, I do believe. But the NASDAQ was up early, so they sold into it. The NASDAQ 100 down 94 was up early, so they sold into it. I am a big believer in reality, and I am big believer in physicality of the markets. Not what somebody thinks, what somebody sees. not somebody with a target, don't worry everything's okay type of thing.

Not thrilled with how it's pulling back just yet, though, okay. I'm not going to call it a day just yet. We'll give it a shot here in the next few days to resolve itself. We'll see. Back on the good front, but not so good. The semiconductor index, the all-important, went down to the 50-day moving average,

today within eight points and mind you this is something that trades at around 5,400 and it bounced off of it that's the good news the bad news is it just came down from 5,900 so be normal to bounce after getting very oversold we'll see how it plays out next point is we're in the midst of earning season and I will promise you this Some stocks that act like crap are going to gap up And stocks that act great are going to gap down Stay tuned More on the markets I'm Gary

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Is a game changer With over 30 million pairs sold there are thousands of men out there more comfortable than you. Don't settle for less. Go to Tommyjohn.com today for 25% off your first order with Code Comfort. That's Tommyjohn.com Code Comfort. Tommy John. Comfort perfected. 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 close.

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 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 cousins 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. 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. Yeah. Let me announce Bob Newhart passed away. I love that guy, 94 years old. I think, I don't know if he did more, but he was Professor Proton on the Big Bang Theory for a few different episodes. A brilliant, brilliant comedy actor, 94 years old.

Bob Newhart passed away. I'm also being told, and I'm about. to confirm, Lou Dobbs passed away at the age of 78. Lou Dobbs, CNN Business Anchor, moved over to Fox News and Fox Business, was an anchor there. Left, I think, a few years ago. He was the nicest person to me. I didn't know him really personally. I only met him on set a few times, had some conversations with him in the green room.

a sweetheart of a guy, at least to me. So, boy, oh boy. Yes, he passed away. And President Trump announced it. Okay. I am in right now. We segue back. I'm in no man's land with the markets.

And here's what I mean. You've had a nascent move in the small and midcaps that are now in pullback mode, and the jury now is out. on whether it's going to be sticky or not. That's number one. That said, as you know, every night, and by the way, we just did the scan. We finished 1,500 stocks, 200 sectors, every country, every commodity. We're big believers in tech and growth, semiconductor software.

They are under some serious pressure. more and more of those names have taken out what we call near-term support areas. You know how we say stair steps to the up, then stair steps to the down? Well, a bunch of stair steps to the down, if not worse. And part of that was ASML yesterday with the semis dropping 130-some-odd bucks. And by the way, it was down again today. stocks like Facebook drop from 530 to 470 in five days Microsoft breaks the 50 day Google below the 50 day

I could go on and on so just letting you know especially on the tech front we're on the slow road and you know what we mean as far as the rest of the market as we have stated we've had some really good, I call them jams. They jammed them to the upside over a few day period. Well, again, the jury's out. We'll know a little bit more in the next few days.

If those nascent moves, notice the big word out of Gary, are failures. meaning failed breakout. And what do we mean by that? And we've explained it to you. Imagine if a stock was trading for six months between 90 and a hundred and breaks above 100. It goes to 106.

And then when a week goes back to 90, well, it failed to move above. If those areas, the small and the midcaps and the financials and the regionals and the economically sensitive and the transports, which have had a nascent move up, if they fail and

them technology stocks continue to gag well we're going to have an interesting rest of the summer it's the best way I can explain it these are ifs and we're doing the ifs based on it was an icky day today

quite the icky and again we're in the midst of earning season we'll know a lot more by the way Netflix that hit 610 in the aftermarket down from 643 is at 630 still down 13 bucks but that can change also Netflix had just went from 697 to a close of 643 today that has been part of what we call the deluge that has happened for some of these growthy type names as of recent

what I'm going to be watching for is the semi the semiconductor index when you have a chance tonight you will see the socks held within eight points and bounced off of it you will see that invidia got very close to it and bounced as well as a few others that will need to be sticky may i state that for the record when i scan tonight i am pretty sure, and we already did, but we do a double. I'm not going to find what we call very viable, great-looking launching pads. But we

seek on a daily basis and eventually things will show up. I will say this. The housing stocks were very strong today, though some reversed, but D.R. Horton up 16 bucks today.

big move recently on their earnings which by the way we're only up 5% and revenues up 2% which comes under the guise again of I don't understand some of these moves maybe they said something good I don't know gold pulled back a little bit today not a biggie again more names what we call cracked on a short-term basis and then you have Domino's pizza and we always talk about you know and we again we don't take on anybody individually we hate when people say think long term it should be think long term but as long as you're what you're holding is working long term Domino's pizza hit a high of 542 recently it

closed at 409 today down 64 dollars on their earnings report and I bring that up because I'm always looking on how would I avoid that the The cell signal on Domino's Pizza was on the date of, if I can get my little thing mob here to stick on my computer, and it doesn't want to. Oh, well. Yeah. July 1st, when it broke the 50-day moving average at 514 that day, it closed at 50-04, there was your cell signal. and due to the fact Chipotle had broken down

which was a strong restaurant and a lot of restaurant stocks were already in a bare market it was pretty much a gimmy if we owned it we would have sold it 504 to 409 and by the way of course we're Monday morning quarterbacking here because it's

409 what if it gapped up $60 well this commentary is based on the it didn't gap up and when you get signals that have worked so well in the past, you probably want to listen to them signals. Notwithstanding earnings reports

that we're going to be getting into the thousands as we move forward. After the close today, Institute of Surgical is up nicely. Netflix is down some. PPG Industries. Let's see what that's doing. And down about five bucks, no big deal.

Tomorrow will be, oh, I think we're going to get Crocs soon. Tomorrow we're going to get American Express. And based on my bills, that should probably do well. Comerica, travelers, a couple of big oils in Schlumbergeret and Halliburton. And then next week, I think I get 15 pages of earnings reports. And then I believe the week after is the Amazon. Amazon, Apple, and all that other fun stuff. Which, by the way, Amazon at the close today broke the 50-day moving average.

Apple did not, but that gagged for almost five bucks today. Up next, this, that, and the other thing. Whatever else. I'm Gary. This is the one only inventors edge. Guys, it's no use putting it off. The best time for an underwear refresh is now. Tommy John Underwear is designed for a perfect fit that stays put all day. Their zero-chafe thanks to four times more stretch than competing brands,

and their innovative horizontal quick-draw fly is a game-changer. With over 30 million pairs sold, there are thousands of men out there more comfortable than you. Don't settle for less. Go to Tommyjohn.com today for 25% off your first order with Code Comfort. That's Tommyjohn.com, code comfort. Tommy John. Comfort perfected. 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 Spreaker 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. You're listening to. What are we waiting for? Well, what are you waiting for? One, two, ready, go.

Investors Edge with Gary Culper. And welcome once again to Investor's Edge. You know, I've been talking to about my parents. It's 92 and 91, and they're self-sufficient. She cooks for them and all that, but she took, like, what I would call leg down in the last couple of weeks, needs oxygen, and she has to walk around with a big oxygen tank and all that. And you can just tell. And we're now in trying to convince mode, and we really don't want to because it's heartbreaking.

You know, you go through life and you go through these different moments in time. And until you experience them, you don't know what others experience. And, you know, about parents, sons and daughters having to put an elderly mom and dad into, I guess you call them assisted living facilities. I guess they used to call them nursing homes, but they're not that bad. It's just that you get to the point in time where how much can you do to yourself. So I've been spending time about it's tough. I cannot begin to tell you how tough it is because you know you've lived your life with people that were strong, vital.

all I think about my father is down and out, pump it go long. When I was young, we used to play touch football in the street, and he would QB, I'd be the wide receiver, downout, pump it go long. And he was a great athlete. My father almost made it to the big leagues, military man. And you just see, he's, you know, lost a lot of muscle mass because of age. and you just see that. It's just very tough. We're hoping that we can stave off having to, hey, you've got to do this.

They love the place that they live. They have their own schedule on a daily basis. He eats lunch every day at 1.30. He knows the same. breakfast, same lunch every day, mixes it up for dinner, the same time. And I can't begin to tell you how emotional this is, but I'm pretty sure by the amount of emails I have been getting from all of you out there that you've all experienced this at a given moment in time. And I've always heard it from other people, but until you've experienced it, it's not that it's meaningless,

but it does not carry weight until you had got to that point. As I have said to you, my brother's been the hero, and he's been handling everything. He's pretty much living there at this juncture. It's worked out pretty well. Even he's saying, I don't know if I can keep it up. he's been like the marathon man if my father needs help at two in the morning my brother middle of the day my brother we'll keep you you know informed on it just to let you know because we know a lot of you've gone through it and if you have any input we know a lot of you will go through it going forward as we all age and it uh Pretty much one of the most difficult times I have had in my lifetime.

I'm just keeping fingers crossed that. They can stay where they are. I just don't know how at this time. I think maybe the first move is to get a full time. But I don't know if that works. We'll see. Anyway, I appreciate a lot of input you guys have given, you guys and gals. I don't think there's any secret elixir to this.

That's that. What else in the news? Because I don't know if there's much more I want to say on the market here, except it's sucked today. Overall. But let me repeat again, normal for the Dow to have a little pullback, the small and midcaps to have a little pullback. Kind of normal, but it's going to really need to stick, or the whole tech market's going to need to stick. It's a decent start that the Philadelphia Semiconductor Index held an important area today, but it's going to need to hold. And as you know, we do believe the economy has been softening.

That's why we've been weird out about this move and transports and things like that. Maybe it's just one of those things with the market because all the little tidbits that I get on the economy, I got news for you. We'll see if we have issues. I think in certain areas we do, we're watching the job market very. closely. It's ticked up to 4.1. Some of the numbers not great, but if, man, if we just stay at 4.1, that'll be okay. But if I think it starts to get Harry with a lot of debt out in the system, then it could be a little tough. In other news, well, my British Open, I pick six players for my

pool and stuff. I'm screwed. I actually picked leader right now, but I got two guys that'll definitely miss the cut, and that means you're out. Darn it. Darn it. In other news, Hulk Hogan is speaking at the Republican Convention tonight. Interesting. We'll see what he has to say. That all said, I should be on with Neil Cavuto tomorrow, noon hour Fox Business Network.

I will be on Fox News Saturday morning. I'll let you know what time tomorrow. You have a great evening drive carefully. When you get home, do like we do. Quite simple. Make sure you hug your family. Make sure you hug your children. They will feel better.

You will feel better. I promise. Thanks for joining. Always thrilled that you'd listen to us. Until tomorrow. Peace out. Good night. 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. Guys, it's no use putting it off. The best time for an underwear refresh is now. Tommy John underwear is designed for a perfect fit that stays put all day. Their zero-chafe thanks to four times more stretch than competing brands. And their innovative horizontal quick-draw fly is a game changer.

With over 30 million pairs sold, there are thousands of men out there more comfortable than you. Don't settle for less. Go to Tommyjohn.com today for 25%. sent off your first order with Code Comfort. That's Tommyjohn.com code comfort. Tommy John, Comfort perfected. 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.