Investor's Edge with Gary Kaltbaum - The Debate [06.27.2024]
Episode Date: June 27, 2024https://garykaltbaum.com/...
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Investor's Edge with Gary Cultbaum. 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 Kaltbaum, your host. A thanks of being with us today.
Glad you hear, ladies and gentlemen, happy that you are listening.
It is Thursday, June 27th.
Or, as we say in my family, my mother's 91st birthday.
And you know what she's going to do on her birthday today?
Cook for my father.
Seriously.
It's amazing to watch.
I must tell you, it is amazing.
to watch a 91. My father's going to be 93 and he's had his problems, but he's good,
live in their own apartment, self-sufficient. Every time I even broach the subject about assisted
living, I'm not moving. And they get along. They have walkers now. It's not as easy. My brother's
there a ton of the time. I'm up there pretty much almost every weekend, but amazingly at 91
today from my mom, 93 in October from my father, they're just going. Dang. That's all I got to say.
So happy birthday to the mom. 91. 91. 91. 91. 91.
Anyway, we move on.
You know, this is a show serious talk on everything that affects you.
And, you know, we used to do just the markets.
But then we were in very easy recognition of other things affecting you and affecting I.
And that is the ever-growing blob called Washington, D.C.
But it's not Washington, D.C., it's people.
Just so you know, the word government is people, and they have mortgaged our future.
They are laughing their arses off at us.
Every day now, $6 to $7 billion is added to our debt.
And amazingly, we have ended up with these two people in a debate tonight for the presidency of the United States.
We have one person that was president for four years.
that still to this day says that he won the election and the votes.
I don't really even want to bring up Trump now because we don't know what we're going to get the next four years.
We can only go backwards on the four years that he had.
and on the economic front,
this is all we want to talk about for this show right now.
He lowered taxes, very much cut down on regulations,
very much, which I thought was awesome,
on the good front.
Lowered taxes, less regulations.
But on the bad front, big deficits, big debt,
and socialism.
What?
Donald Trump's socialism?
Yes.
In case you do not know, he did some tariffs, which cost the farmers a lot of money.
And due to the fact the farmers are a big voting block for him, he took our tax dollars and paid them off.
No, really.
Not unlike Joe Biden paying off student loans using our tax dollars.
But let's go back again.
He lowered taxes and had less regulation.
We love that.
You see, we believe that we are the driving force behind the economy.
Not them.
But the more they grow, the less we're the driving force.
And that's with the rules and the regulations and the fees,
the fines, and the mandates, and the taxes and the controls and the giveaways,
to the point where in real time,
Just one little aspect is that the governor of California, who will be running for the presidency in 28,
who's destroying that state, was pleaded with, don't raise the minimum wage on fast food to $20 because we're going to lose restaurants, we're going to lose employees, we're going to lose hours.
He still did it.
They're losing restaurants, employees, and hours.
what more can I tell you
so tonight there's going to be a debate
I hate the structure
of the debate the mics are
off there's no audience
it's the stupidest thing
I've ever heard
a debate should be open-ended
if he says something I should
be allowed to retort
I just don't get it
but we have to live with what we have
so we know
about Trump
and taxes
and regulations.
If Donald Trump wins the election and comes in and says to me,
you're handsome and buffed host,
we are not raising spending year over year during the next four years.
We're keeping them still.
And the reason we're not going to is we are federal spending
in the year before COVID was 4.4.
We're already in the mid-sixes,
actually towards $7 trillion now.
And as the economy grows, we send them more.
So it would be less deficits.
If Donald Trump would just do that, he's got me.
We're just talking economics here,
because as you know, I got a lot of problems with Trump, the president.
And then there's Joe Biden.
Oh, let me take a step back.
The border.
How am I not mentioning that?
Now, just so you know, Trump was trying to build a wall,
he did a little bit of the wall.
But what he did was he was very strong.
And what we mean by that is he let those that were going to try and come in
that we ain't given you anything.
And if you come in, you got problems.
So the numbers were, let's put it this way.
Joe Biden came in and unwound.
There is a video of his Homeland Security guy, Mayorkas,
stating we got rid of everything Trump did on the border.
That's out there.
And just so you know, and this is the nauseating part of Joe Biden,
open borders, massive debt, massive deficits, tons of rules, tons of regulations,
tons of fees and fines and mandates and oversight.
no yelling and screaming about the crime in cities.
We give him an F-minus.
So we know what we're going to get with Biden.
Because amazingly, just so you know in the past,
no candidate would ever state on the record,
we're going to raise your taxes if we win.
They would lie about it and then raise your taxes like Clinton did.
So we're just letting you.
know again, and we have mentioned this, if Joe Biden wins and God forbid has the House and the Senate,
well, first off, the Trump tax cuts sunset. Go bye-bye. That means every one of you that got tax cuts,
guess what? They're gone. You're going to be sending more to Uncle Sam. He's also proposed
long-term capital gains that are now 20%.
You hold the stock more than a year, and you're up, you pay 20% tax.
If you're in the 30-whatever percent tax rate, you're only paying 20%.
He wants to take it to 44.6%.
Oh, but it's only for the wealthy.
You know, the scummy wealthy?
He wants unrealized capital gains of 25%.
Insanity.
You don't sell.
You still pay taxes every year.
They have proposed wealth taxes, though we'll hand it to them.
They saw the poll numbers on wealth taxes, and that ain't happening.
So everything about this man is taking away from you and giving to him, giving to them.
And if they don't have enough, it don't matter.
we'll just spend whatever the hell we want to spend.
That's it.
That's all.
That's the difference on the economic front.
Both of them deficit spenders.
Joe Biden made Trump look like a piker.
Even though some liars came out this week that said Trump was worse, that's a lie.
Just remember what the media is doing now?
They're lying.
They will be in lying mode till November on everything.
The headlines we are seeing lies.
I saw something we mentioned to on Axios, the Trump inflation bomb.
So Trump's inflation was low, Biden's inflation's high, but they headlined an article, the Trump inflation bomb.
Up next.
We'll put a bow tie on it.
Got lots to talk about on the market.
I'm Gary.
This is the one only investor's edge.
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It doesn't get better than this.
So, the one thing I got to hand it to Biden, he's not hiding the fact of what kind of a socialist-slash-Marxist-slash-gargantuan government control freak that he is.
And will be if he gets his way.
this is why I'm depressed with myself
and I mean this sincerely
I'm off the beaten path
I'm under the radar
I'm not one of these big guys that got millions of people
listen to them and watch them
even though I'm on Fox News
you know we were a million to half
to two million people will watch
but for a few minutes
and Fox business which will be a quarter million people
but just for a few minutes
I'm not front and center
if I had to do it all over again
from the years ago
I would have ran for
president. I'd be mowing them all down. And you know what I'd be doing, ladies and gentlemen?
I'd be controlling the border. I'd be making legal, legal immigration. I would keep taxes low.
I would cut government off at the knees. And we would have balanced budgets. The central bank,
I would hamstring them. They would not be able to print any money whatsoever.
and every department of government would be accountable for every freaking dime and the amount of people that were there.
And what we mean by that is go look up how many people work for government now.
You wouldn't believe it.
And the overlap, you wouldn't believe it.
The waste, you wouldn't believe it.
I mentioned yesterday the Pentagon cannot account for a trillion bucks.
And nobody's pissed off.
If I was president, I'd be pissed off.
And I'd piss off a lot of people in government.
And that means I'd be doing my job well.
I don't think that we're going to get that from either.
But on the economic front, easily, easily, it is night and day.
and if Trump wins
I'm going to get in there
into this administration
not to work there
but I'm going to do whatever I can
to be somewhat of an advisory
and to show him
the errors of the way
on the size of government
the scope of government
what he can do about it
Biden won't listen
because he is a Marxist-socialist
control freak
I was on TV today with Stuart Varney
and I just had mentioned to him
that the Congressional Budget Office
says we're going to 56 trillion of debt in 10 years,
which means 70.
We're going to double our debt from 35 to 70 in 10 years.
How did we get there?
Trajectory.
And just not given a crap.
I have said to you they have made $100 billion into a footnote.
They've given away $150 billion of our dollars,
to student loan relief.
It's a footnote.
I know the Supreme Court did something the other day
and knocked it down, whatever,
but I still think it's going on.
Imagine $150 billion of our tax dollars
to relieve somebody's loans.
If you decided not to go to college,
you're paying off somebody else's loans.
Oh, but I'm not.
Well, I don't see it.
We all see it.
Remember, a footnote.
And the size of the debt
what they have figured out is
if we go from 35 to 40 who gives
a crap that is the
con that is the scam
and we can't have another four years of it
we know what we'll get with one
we don't know what we'll get with Trump
I freely admit that
maybe Trump comes in and he's worse than Biden
I'd rather go with what we don't know
right now than what we do
that's how bad this guy is
so we'll get a debate tonight and it will not matter
it'll move some votes here or there
it's still going to come down to a few counties
and a few states
no longer can the Democrats
count on Ohio and Florida those are gone
so it's going to be down to Pennsylvania
Michigan Arizona a couple others
and a couple of counties
that are big in these states
and it'll be up to I believe
independence. I don't know how any independent-minded person on the economy can vote for Biden,
but hey, God bless everybody, respect everybody's opinion. And don't get me started on the crime
because as president, I'd have the bully pulpit and what you're seeing in places like
Oakland, San Francisco, New York City, Portland, and some of these other cities. Oh, I'd be
yelling and screaming. So that'll be tonight. Promises, promises, promises. This is that and the other
thing. We're so tired of words. I don't even know where to go. Deeds, not words. Actions, not words.
And I want to leave you with this on how nauseating Biden is on the border. For three years,
after rolling back everything Trump did
or tried to do
and opening the border wide open
allowing anybody anywhere to come in
for three years they said the border was secure
while we're being told
by them
they don't even know where anybody is
they're admitting there may be terrorists here
we already know some of them are murderers
and rapists
and no we're not saying they all are
I saw one Democrat
was interviewed about it
oh so I see what you're trying to do
so a couple came in and murdered
they belittled people being murdered
Americans being murdered by illegals
at the end of three years
he sees his poll numbers on immigration
I don't know if you know what Joe Biden did in the last couple of months
he did a bunch of securing of the border
to the point where much less people
coming in.
He could have done that three years ago, two years ago, one year ago.
But he waited until his poll numbers were so bad.
Now he can come out tonight and state, oh, look what we've done over the last few months.
So imagine, you ruin the system on purpose.
You lie about the system on purpose.
Everybody gets pissed off about what you did with the system.
on purpose.
You tell people there's nothing
you can do about it
on purpose
and now you go and do something
about it so you can
say how good
you are now.
Disgusting.
Up next.
We're done. The markets.
I'm Gary. This is the one only
Investor's Edge. It's no use
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What's in your wallet?
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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, 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. Spreaker, because if you're
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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.
You're going to feel better if you talk to.
And welcome once again to Investors Edge.
All right.
First number one.
The Dow was up 36.
The S&P up 5, NASDAQ 53, NASDAQ 137.
I just want to let you know what they did at the end of the day today.
Don't ask me how it works.
At 355, the NASDAQ was 17-813, only up eight points after dropping
about 40 points in the previous half hour.
In three minutes, it was back up from 8 to 53.
Button pushers.
Amazing to watch.
And by the way, there were some one-minute bars
that went up 30 NASDAQ points.
I can't begin to tell you how much I hate that,
the button-pushing part of my business
both ways by the way
just sheer insanity
what happened in the last
five minutes today
sheer insanity
they were hitting it hard
knocking it down
and just poof in seconds
whatever
software stocks though
I haven't had to mention them in quite a while
we are letting you know
the very important software stocks emerging.
We've only really talked semiconductors and AI, which by the way are under pressure right now.
We're letting you know software stocks have come to life.
How long it lasts, how far it goes, we don't know.
But it most definitely is an important cog in the wheel in technology that has been
been left behind. That's the best way I can explain my overall thoughts this second. I'm going to
describe some things to you with you knowing we're not telling you to buy, sell,
shorter cover. But Adobe recently was in a big bear market, gaped up, sat around for two weeks,
broke above that range today. That's an important software stock. Salesforce.com and the Dow
was up 4% today, edged above a little range.
That was in a bare market also.
Palo Alto Network, software security, breaks above a range today, working on going back
to the old highs.
SAP, a German software company, into new high ground today.
Oracle recently gapped up, has some work to do in here, but recently gapped up.
Microsoft is in new high ground.
Then you have some of the less biggie.
Service Now, NOW, coming big time up the right side, into it, the same thing.
Data Dog, CyberArc, Checkpoint Software, CrowdStrike.
Do I need to go further?
So just letting you know when you're doing your scans tonight, I'm letting you know software is going to be showing up.
And if you look at the ETF, which is the IGV, you will see that coming up the right side also pretty nicely today.
There is, again, an area we really haven't had to talk about.
We've talked about Microsoft, the big of the big, because the biggies have been strong, but now others coming to the four.
And that was a big part today of the NASDAQ being up because I got news for you.
The socks was down 31 and video was down two and a half bucks.
And I must tell you, overall the socks, not say it's going to, but won't take much to break it below that first moving average of import that 21 day that we follow so closely.
It's sitting right on it right now.
And until the last five minutes where somebody pushed the button, they were selling into it.
So software
And I repeat
We haven't had to mention software
Because it just hasn't showed up on our screen
So keep that in mind
What else today?
Facebook meta broke above
That first range we've been harping about
Almost every day
Amazon broke out yesterday
Up another foreign change today
Big name
Booking holdings into new high ground
just better action in some of these areas.
And by the way, with Micron down $10 today.
And that looks all but done.
Now, what hasn't changed is how weak so many other areas of the markets are.
China broke the 50-day moving average today.
That thing was acting so well for a while.
And the big names are just getting squashed.
The commodities, blah.
Housing and housing related.
Not good.
Most of the transports, not good.
And FedEx, as you know, had that big move yesterday on their 1% sales growth.
I got news for you.
The transports are still in the midst of nothingness.
Financials, they're okay.
That said, Goldman was down $10 today.
on volume breaking the 50-day moving average.
We're being told it was on some stress test, which is fake anyhow.
They told us all the banks passed the stress test.
Yeah, sure, right.
Yeah, sure.
What did we tell you yesterday?
It's a fake test because it doesn't account for human nature.
Because any bank is only good as its depositors.
Any bank that loses its depositors, I don't care.
who it is, goes out of business. That's all. Simple is that. An ice cream store, you don't have
any people walking in the store, you go out of business. A restaurant, nobody walks in, you go out
of business. So when you say there's a stress test on banks, look what happened to a few in the last
year. Do you know why that happened? Because people were leaving. Do you know why the regional
bank stocks are still weak? People are still wary. And when they probably shouldn't be.
You know many questions I got for like six months on this bank and that bank and whether they're going out of business?
So all of a sudden, don't worry, everything's fine.
Just remember these stress tests.
Those banks all pass the stress tests going into 2008.
When the people given the tests are incestuous with the people they are giving the test to, that's a problem.
You got that?
If I took the SAT and I had the answers already, and no, we are not kidding.
So something to watch.
We don't believe it.
The capital that they have.
I got Newsfea.
The capital that they have is our money.
Is your money.
And if that moves, that's a problem.
Will it ever move?
Don't know.
But look what just happened in the last couple of years.
J.P. Morgan got bigger and a bunch of the regionals got smaller.
Case closed.
Backtracking software.
Big Cap Tech.
That was today.
I hear we have an inflation number tomorrow.
Whatever.
I got news for you.
The rate of inflation is down.
Inflation isn't down.
I don't care what number they decide to come out with.
Inflation's not down.
I see everything on the ground.
Just remembers we head into the election.
There will not be any bad numbers anymore.
Gary, are you saying it's rigged?
You're damn straight I am.
Move a decimal point over.
add a zero, take a five away. What are you kidding me? You think an entity that's running 35 trillion
debt and two trillion yearly deficits? You trust them? God bless you if you do. Up next,
what else are we seeing? Thanks for being here. I'm Gary. This is the one only investor's edge.
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Comfort. That's Tommyjohn.com code comfort. Tommy John. Comfort perfected.
This message is brought to you by the Capital One VentureX card.
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Elevate your earn with unlimited double miles on every purchase, bringing you one step closer to your next dream destination.
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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 Spricker.
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.
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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 swears are the next big
thing. Even better, Spreaker helps you monetize your show with ads, meaning your podcast might
someday pay for, well, more microphones. Start your show today at spreeker.com. Spreaker, because if you're
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What are we waiting for? Well, what are you waiting for? One, two, ready, go.
Action! In the Gester's Edge. With Gary Culpa.
What else did I notice today?
I noticed that V's and MasterCard really breaking down his stocks.
Something about swipe fees and stuff like that.
That's government oversight and how much they can make and whatever and all that fun stuff.
What else did I see?
Boeing up four bucks today.
How is Boeing up?
Did you read the latest?
More whistleblowers?
That's number one.
Skimping on safety?
Huh. Have you been reading that?
So let me tell you what I have to say about Boeing for a second.
Because every now and then something little sticks out and we don't know if it's going to be meaningful or not.
But Boeing stock since April 15th is not going down anymore.
And right around that 170, it hit it pretty much three times and held.
Closed at 182 today.
this is while there's been nothing but bad news.
I don't know about you, but if I'm making jets
and I have whistleblowers all over me
and I have incident after incident happening
and investigation after investigation,
by the way, there was one out there a couple of days ago
with somebody said there's got to be a criminal investigation.
Fact that isn't going below 170 could be meaningful.
It was up for today.
Would I buy it?
I wouldn't go near it. No, thank you.
Trust, low.
Life is pretty simplistic with me.
If you ever read the CFO is leaving, I ain't buying it.
Not too hard to figure out.
If the CEO is going on a sabbatical, I'm not buying it.
If 15 of the top people who run the company are selling half of their stock, I'm not buying it.
No, thank you.
Which takes me to, I mean, I can't even believe I got to bring this up.
Do you know what Chewy is?
They are, you could get pet products through the mail and stuff like that.
I don't think I've ever used them.
The stock hit 39 today and closed at 29 on five times average volume.
Are you ready?
That GameStop Yuts, I can't blame them.
he put out a picture
I'm not making this up by the way
I wish I was
he put out a picture of a dog
a cartoon looking dog on his
Twitter feed
X feed
and people started buying the crap out of chewy
no I'm not making this up
and they bought a little bit of
other pet stocks
it's a I don't even know what to say
that people would react
to this guy.
Nothing personal.
I just think he sucks.
I believe he front run people.
Knew he was influencer with millions following and they jumped all over it.
Just so you know.
We're told his cost is $23 on all his stock.
It's back to $25 down from $65 on one move to the upside and down from 48.
He put out a picture of a dog, a cartoon dog, and people bought the crap out of the stock,
and at 11.m. it hit $39.10. At 119, it was $34 bucks already. At the close of the day was $29.
If any of you out there listening to the show were one of those people, please get your head checked.
I say that with love.
This is not Robin Hood.
This is robbing hood.
And if you saw the live stream of this person,
it was Laurel and Hardy,
Abbott and Costello, the three stooges,
the Keystone cops, all in one person.
And people are betting their life savings
on this one person and begging him to get the stock up
of a company that just diluted the hell out of their own company
and announced lower sales and big losses.
And people jumped all over
because he put a picture of a dog up today.
I can't believe I actually have to mention this.
but our number one job here is protection of capital at all costs
and the first thing we talk about on protection of capital
is the markets are not easy don't make them tougher than they already are
do I have to mention the the Twitter feed it's roaring kitty
go look what he put up.
I don't even blame him.
It's a picture of a cartoon dog,
which by the way got 4,400 likes
and 3,700 responses.
It's up to 4,400 responses.
And anybody who bought in lost their arse.
And I can't have much sympathy.
And I'd love to have some sense.
sympathy. Back on point. Software stocks. I will be concentrating on them tonight in my scans.
They showed up en masse today. They've been quietly sneaking up the last week or so. But today,
the institution spoke. We'll see what it leads to.
Enjoy the debate tonight, ladies and gentlemen.
You'll 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.
Thanks for joining us.
Tomorrow should be on with Neil Cavuto.
Noon hour Fox Business Network.
Peace out.
Stay well.
Serenity now.
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.
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