Investor's Edge with Gary Kaltbaum - The Debate [06.27.2024]

Episode Date: June 27, 2024

https://garykaltbaum.com/...

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Starting point is 00:00:00 At Arizona State University, we're bringing world-class education from our globally acclaimed faculty to you. Earn your degree from the nation's most innovative university online. That's a degree better. Learn more at ASUonline.asu.org. 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.
Starting point is 00:00:38 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
Starting point is 00:01:19 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.
Starting point is 00:02:24 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.
Starting point is 00:03:12 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.
Starting point is 00:03:49 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.
Starting point is 00:04:18 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,
Starting point is 00:04:50 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
Starting point is 00:05:38 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
Starting point is 00:05:53 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,
Starting point is 00:06:16 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.
Starting point is 00:06:40 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,
Starting point is 00:07:02 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,
Starting point is 00:07:32 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.
Starting point is 00:08:17 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
Starting point is 00:09:03 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.
Starting point is 00:09:31 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.
Starting point is 00:10:07 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.
Starting point is 00:10:36 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.
Starting point is 00:11:01 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.
Starting point is 00:11:43 Understanding not all individuals have the same needs, will 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 00:12:15 management. 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.
Starting point is 00:12:38 Don't settle for less. Go to Tommyjohn.com today for 25% off your first order with Code Comfort. That's Tommyjohn.com. 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.
Starting point is 00:13:15 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 Sprinker distributes it everywhere people. 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
Starting point is 00:13:56 someday pay for, well, more microphones. Start your show today at spreeker.com. Spreaker, because if you're going to talk to yourself for an hour, you might as well publish it. It's time to switch on the integrator units and get the brain cells working. You're listening to. Hey, this promises to be Investors Edge. The last bastion of quality programming. With Gary Coltbaum. 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.
Starting point is 00:14:48 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
Starting point is 00:15:03 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
Starting point is 00:15:19 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.
Starting point is 00:16:27 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.
Starting point is 00:16:59 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
Starting point is 00:17:22 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
Starting point is 00:17:44 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.
Starting point is 00:18:06 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
Starting point is 00:18:28 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
Starting point is 00:18:43 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
Starting point is 00:19:07 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
Starting point is 00:19:36 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,
Starting point is 00:20:03 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
Starting point is 00:21:01 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
Starting point is 00:21:24 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
Starting point is 00:21:43 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.
Starting point is 00:22:08 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
Starting point is 00:22:35 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
Starting point is 00:22:52 Investor's Edge. 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.
Starting point is 00:23:39 That's Tommyjohn.com code comfort. Tommy John. Comfort perfected. This message is brought to you by the Capital One VentureX card. The 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.
Starting point is 00:24:10 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.
Starting point is 00:24:36 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 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 Coltbaum. You're going to feel better if you talk to.
Starting point is 00:25:38 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
Starting point is 00:26:08 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
Starting point is 00:26:38 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
Starting point is 00:26:59 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.
Starting point is 00:27:36 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
Starting point is 00:28:31 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?
Starting point is 00:29:11 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.
Starting point is 00:30:08 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
Starting point is 00:30:30 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.
Starting point is 00:30:56 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.
Starting point is 00:31:26 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.
Starting point is 00:31:58 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
Starting point is 00:32:25 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.
Starting point is 00:33:20 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.
Starting point is 00:33:56 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.
Starting point is 00:34:24 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.
Starting point is 00:34:48 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
Starting point is 00:35:19 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. 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.
Starting point is 00:36:39 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.
Starting point is 00:37:09 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. 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 swears are the next big
Starting point is 00:37:41 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 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. 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.
Starting point is 00:38:43 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?
Starting point is 00:39:02 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
Starting point is 00:39:39 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?
Starting point is 00:40:08 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.
Starting point is 00:40:44 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
Starting point is 00:41:21 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
Starting point is 00:41:38 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.
Starting point is 00:42:03 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.
Starting point is 00:43:02 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
Starting point is 00:43:37 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
Starting point is 00:44:22 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.
Starting point is 00:45:03 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.
Starting point is 00:45:54 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.
Starting point is 00:46:04 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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