Investor's Edge with Gary Kaltbaum - The Technology Week In Review

Episode Date: May 26, 2023

Follow Gary on GaryK.com or http://garykaltbaum.com

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Visit turbotax.com. Only available with TurboTax full service experts. Real-time updates only on iOS mobile app. 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 Colbaum, your host.

A thanks of being with us today. Glad you're here, ladies and gentlemen. Happy that you are listening. It is Friday, May 26th, Memorial Day weekend. Remember why we celebrate Memorial Day when you got a couple of moments? Just Google it and you get it. You should know that by now anyhow. First off, let me start by saying, thank you.

So yesterday I whined and complain like a baby that my back was killing me. It looks like it's a pinch nerve. And I got 157 emails. and one text from all of you trying to help me out. My good buddy Randy texts me and had a long conversation when he was running through all kinds of things I should do. Anyway, let me repeat. I have never had more pain than I've had in my life than whatever I got right now. And pretty sure it's a real good pinch nerve.

It worsened today. So I'm going to see somebody tonight and see what they can figure out. I don't know what the heck to do. When I, up until yesterday, no problem walking, everything fine, sleeping, everything fine, just when I get up out of a chair. It worsened today to the point where when I get out of a chair, it does not snap back as quick. So I'm pretty much hunched over for 10 minutes before it, whatever is. does to make it bad gets better. So, but I want to thank you. I got a hundred and fifty, I counted them, 157 emails from you with all kinds of different thoughts and remedies, got a couple of

chiropractors, uh, email me, not where I live though. Uh, and really appreciate it. And again, and I'm not making this up. I've never been really sick or injured. I've had a, I've had broken wrists a couple of times. That was nothing. These are just like somebody sticking. a knife in your back. I mean, it's that, holy smokes. By the way, I have a dog sleeping on my foot right now. So thank you. I'm in North Carolina right now. What's heading for New York? Driving to New York, I think Sunday, I may be heading right back to Florida, depending on what the doc says to me the night, because it is excruciating pain. And those that have you have had, it in the past, I think you know what I'm talking about. It really is like somebody's sticking a knife

in your back. Anyway, that's my whining complaining for the day. So let me do this. In no particular order. And you'll get the point. Most of the solar stocks, most of the airlines, except three foreign airlines, actually. Well, actually, I take that back. Two foreign airlines, one regional airline, retail of all stripes, the consumer staples, which had been acting pretty well. That is food, beverage, household products, tobacco, metals and mining. that is your aluminum, steel, coal, golden silver, materials, medicals are pretty much all stripes, including in the last week, they just busted the medical products, medtronic types, and medical research, industrial types. and we'll throw in caterpillar and deer, industrial machinery types, rails, truckers, utilities, pretty much the crypto, regional banks, the bigger banks, though they bounce today, other financials, China, energy, slash oils.

Did I mention gold and silver? If I didn't, I'm mentioning it now. At least 20 of the 30 downings. Probably closer to 25, but I'm being generous. Gaming slash casinos. Chemicals.

In those commodities, I mentioned steel copper coal. Insurance. Defense. most of the restaurants, not all. Supermarkets. The Visa MasterCard, which kind of sort of just topped, managed care, the HMOs,

payroll companies, paychecks, ADP. I wanted to start the show with that. Oh yeah, the small caps, lesser so the midcaps all remain in differing levels of bearish phases. Some much worse than others. By the way, Ford and GM, which by the way bounced a little bit today. And I can tell you defense bounce today. And a couple of retail bounced today.

And I can tell you a couple of commodities bounced today. But they're all everything I just mentioned, economically sensitive. I forgot to mention those like CMI and Borg Warner. All those areas are in bearish phases of differing levels, but some things obliterated. You got me? That's how I wanted to start today to make sure you know what a separation of powers there are in the market.

coming into this week, all we were talking about was mega-cap technology stocks. And we told you that's all we owned is mega-cap technology stocks. On Tuesday and Wednesday of this week, they even started, enter Thursday enter Thursday.

Amazing, unprecedented, I'm going to say almost unprecedented moves in the technology slash semiconductor arena off of a reaction

and let me be clear to one stock. We haven't seen this type of action in ages. We're amazed and we don't get amazed often. I can promise you that. So we're going to spend our time today

talking about my pinch nerve, which by the way I'm sitting right now and I know when I get up, oh my goodness. And technology semiconductors. And we're going to make some blunt and pointed comments on them that we hope you're listening. Remember, we came in this week. Technology, that was it. Amazingly, that's still just about all there is. As we just listed for you, a ton of the market. A ton of the market. But that's, but that's.

does not change what we just saw in two days that changed the playing field immensely. And that'll be a lot of our coverage today. But again, I do want to say, I really appreciate every one of you. 157 emails. One email told me to smoke dope, though. No, really. Up next, full market wrap. I'm Gary. This is the one only Investors Edge.

Hi, I'm Gary Kallbaum, 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.

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Motola, who explains why so many of us live with stomach issues we should not accept as normal. A lot of what I see is just like chronic blood. chronic stomach aches. Like, I get a stomach ache every time that I eat. And it just becomes like a lifestyle where, oh, yeah, you know, I just have a stomachache every day. Or I'm constantly feeling like gassy. And all of those things are not something that generally, if you have a healthy gut,

you should be living with. So that's when we deep dive. We deep dive into your medication. We deep dive into your OTC medication. And then at that point, we can probably identify something that we can change. Hear the full conversation plus some things. fascinating facts about how gut health affects so much more than just your stomach on Beyond the script, a podcast from CVS Pharmacy and IHeartRadio. Listen now wherever you get your podcasts.

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The last bastion of quality programming. With Gary Coltbaum. It doesn't get better than this. Do you know, I watch no TV today. No TV. So let me give you out a couple of things. You ready? The Dow this year, inclusive of today, is down.

The Russell 2000, inclusive of today, up less than 1% this year. The mid-cap 400, up a half percent this year. The NASDAQ advanced the Klein line was probing the bare market lows coming into today. It'll be better after today a little bit. The NASDAQ's up 24% this year. And you know what the story is. narrow group of big guys and gals. Don't want to get anybody mad these days.

But a holy smoke moment, NVIDIA reported their earnings. Their sales were $4 billion above what it was expected. And they gapped NVIDIA up on Thursday. It closed on Wednesday. 305, I believe they opened it at around 385. Did nothing the rest of the day. Went up to 392, closed at 380.

Today was up $9 to $3.89. But the point is that was a gargantian gap and saying that they are going to sell a lot more chips than expected. and we had a reaction. What did we have a reaction? Logically. Well, the supplier of those chips, Taiwan semi, Gaps up.

Equipment makers are more business. Gap up. A few others that are involved with what they do. Gap up. But whoa. Whoa. Let me give you, for instance, because this is the week in review.

For the week, the Dow was down 1%. For the week, not making this up. For the week, the S&P was only up 0.32%. Here come the dogs. You'll have to put up with the dogs here, ladies. For the week, Azdak was only up 2.5%. we've had plenty of weeks up two and a half percent. For the week, the NASDAQ 100 was up 3.6.

That's a good week. For the week, semiconductors were up 10.7%. That is a slew of stocks, which means some were up more than that, because others weren't. A stunning move. a relentless move that amazingly continued today. And when we say this for the week, I want to make sure you know

that the close on Wednesday of the semiconductor index was 31.24. It was down decently on the week. It had gapped down on Wednesday. It went from 3124, closed at 35, 44. That's like 15% in two days. Broadcom symbol AVGO. From yesterday's open goes from 679 to 812.

This is not a small company. 679 to 812. That's 20%. And was relentless today finishing the the highs. KLA 10 Corps, which was laboring 409 to 461. This is from yesterday morning. Lamb Research, equipment maker, 565 to 628. We're talking double digits for all these from yesterday. ASML 66, that's not a good number, to 730. another double digit.

I can name the rest, but you get my point. Unprecedented and relentless. And it lifted other things, other AI, or supposedly, Facebook 249 to 262, a big name. They even caught on some of the last. lagging. Netflix up 19 today. Tesla up nine. Software names strong. One, I have no clue why. SMCI. Up another 12 today. After it closed Wednesday at 167. It closed at 219 today. I've got 17 names that I came in with today and they just ramped them on my list. No, I don't own them.

but wanting to get in, but, oh, things are extended, I can't touch them. An Adobe, which has been dead money, goes from 466, excuse me, 365 to 415 from yesterday, the open. And they started all off with a gap and another move today. Now, that is the descriptive. It's easy to report the news. That's not so hard. We started off with a ton of the market, still in bearish phases,

with this unreal move in tech and semiconductors. The S&P still has not moved out, but has a pretty decent size of tech in it, stronger than the Dow. The Dow today, all it did was hold the 200-day moving average. That's how weak the Dow has been. Up next. What do we think?

This is the one only investors ed. Hi, I'm Dr. Jay Goodman, host of Beyond the Script, the podcast where I sit down with pharmacists to answer the health questions you didn't even know you could ask at the pharmacy counter. In this episode, we are diving into gut health with CVS pharmacist Victoria Motola, who explains why so many of us live with stomach issues

we should not accept as normal. A lot of what I see is just like chronic bloating, chronic stomach aches. Like I get a stomach ache every time that I eat, and it just becomes like a lifestyle where, oh, yeah, you know, I just have a stomachache every day. Or I'm constantly feeling like gassy. And all of those things are not something that,

generally, if you have a healthy gut, you should be living with. So that's when we deep dive. We deep dive into your medication. We deep dive into your OTC medication. And then at that point, we can probably identify something that we can change. Hear the full conversation, plus some fascinating facts about how gut health affects so much more than just your stomach on Beyond the Script, a podcast from CVS Pharmacy and IHeart Radio. Listen now wherever you get your podcasts. With the Venmo debit card, a taco in one hand, and ordering a ride in the other, means you're

You're stacking your rewards. Nice. Get up to 5% cash back with Venmo Stash on your favorite brands when you pay with your Venmo debit card. From takeout to ride shares, entertainment and more. Pick a bundle with your go-tos and start earning cash back at those brands. Do more stash, get more cash. Venmo Stash bundle terms and exclusions apply. See terms at Venmo.com.

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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.

All right. So let us report the other part of the equation. that is about as obvious as obvious can be. These names, these areas, are beyond the beyond, stretched, extended, and overbought, stretched away from moving averages beyond the beyond. And we do know one thing,

and we can actually throw a guarantee on this one. and you know we always preface things we can never guarantee but we can guarantee that eventually everything always reverts back to the norm again eventually could take a while and this one probably will take a while but eventually everything will revert to the norm that said while saying stretched, extended, and overbought. Let me tell you, and I watch no TV today, not a shred. I have no idea what happened in the world today. I'll find out afterwards.

Many are saying this is BS. This isn't real. AI is just a fad. It's nothing but another bubble. Well, they're putting a bubble down. if this is another bubble, there is a crap load of money to make in the months ahead. That's what bubbles do. They bubble up.

Bubbles don't last two days. They last a long while if it's a bubble. So when you hear that, I wouldn't worry about it. When you hear anybody shrugging it off, I wouldn't think about it. As always, we will play it day in and day out and take all the information the market gives. But for me, as of this second, this is some real deal action. It's meaningful. The market, the market itself, is doing some repricing based on a gargantuan surprise.

from a company. And yeah, I'm damn surprised at the move. It is an outlier move in these areas. It's an outlier move, but it's reality. And our definitions of outlier is something that does not happen often. For me, leave no doubt there was short covering today. Of course there were. Are you kidding?

persistent price increase will create short covering and some squeezes. But one has to believe these are institutions. This is big money crowd. Buying into these things based on their information at hand. And Vivida comes in with billions more than expected. there is an effect and we're seeing it. Now how long it lasts, how far it goes, I have no idea. Short term, are they going to pull it back?

I have no idea. I'm surprised they ramped it again today. Overnight I was looking at futures and most of the night the Dow was down 50 or 60, NASDAQ was down 25. They opened it up and just ramped it. the heck out of it in the first half hour and never really

let up. So I'm urging every one of you really pay no attention to what anybody says and really watch the market. When may be one of those moments and we'll be on it every day. Some other

Movers Costco was down three on the opening on earnings, finished up 20. Decker's was down on earnings, finished up A little reversal there. Maybe strong market generated. But also on down 64 bucks today. So there's still some of that.

And as I look at my stuff screen, a lot of red today. Financials did bounce. Some retail bounce. Some of the defense stocks that are weak bounced. But the story by far. semiconductors, technology slash that artificial intelligence, whatever the heck it means.

On the numbers, the market wrap brought to you by Investment-dashmodels.com. That's Jim Rohraback, one of the great market timers. No gray areas with the man you're either in or out of the market with his proprietary indicators. Go check it out.

Investment-dash models.com Dowp 328. Not impressed with the Dow. Just holding the 200 day. S&P 54 still hasn't broken out yet. NASDAQ 277, NASDAQ 100, 359, the socks up 208. Wow. You ready for this?

The transports were down most of the day. They finished up only 13. Again, so many areas not participating that eventually come to roost, but right now, just stick with what. what's working because the good got gooder today, the bad did not get better, but still, way behind what technology and semiconductors are doing. And yeah, a big wow to today, not yesterday, but the fact we had another one today and we'll be back Tuesday, Wednesday, Thursday, Thursday, Thursday, Friday next week, we're not going to miss a day.

I may be back home. We're not going to miss a day. This is getting quite interesting. Now, do you buy? Do you buy after something's up 10% in two days? Some up 15. Buy rules. No.

But you could have said that coming into today. Leave no doubt there will be pullbacks. But you have a two-day vertical move going on, and I can't promise you anything right now. It's an outlier move in semiconductors, technology. Even the bottom feeders had a good day today. Some of the weaker stuff came on today. And we still haven't even heard.

anything on this dumb debt ceiling that we know will get approved. At least I haven't seen anything and I'm up on, at least I didn't watch TV but I'm up on the news. And you know what? Watching TV is not so bad.

It's not often I go a day without watching the tube. And that is it in a big, fat, juicy two-day rompum, stop and move. I can't wait to scan this bad boy tonight. Now, I was also asked about NVIDIA. We'll repeat what I said

yesterday. I'm pretty sure I said it yesterday. We think it's probably going much higher. But that baby's in the trees. Up next, this, that, and the other thing and whatever else. I'm Gary. This is the one to only investors edge. Hi, I'm Dr. Jake Goodman, host of Beyond the script.

The podcast where I sit down with pharmacists to answer the health questions you didn't even know you could ask at the pharmacy counter. In this episode, we are diving into gut health with CVS pharmacist Victoria Motola, who explains why so many of us live with stomach issues we should not accept as normal. A lot of what I see is just like chronic bloating, chronic stomach aches. Like I get a stomachache every time that I eat and it just becomes like a lifestyle where, oh yeah, you know, I just have a stomachache every day. Or I'm constantly feeling like gassy.

And all of those things are not something that generally, if you have a healthy gut, you should be living with. So that's when we deep dive. We deep dive into your medication. We deep dive into your OTC medication. And then at that point, we can probably identify something that we can change. Hear the full conversation, plus some fascinating facts about how gut health affects so much more than just your stomach on Beyond the Script, a podcast from CVS Pharmacy and IHeartRadio. Listen now wherever you get your podcasts. With the Venmo debit card, a taco in one hand,

and ordering a ride in the other, means you're stacking your rewards. Nice. Get up to 5% cash back with Venmo Stash on your favorite brands when you pay with your Venmo debit card. From takeout to ride shares, entertainment and more. Pick a bundle with your go-tos and start earning cash back at those brands. Do more stash, get more cash. Venmo Stash bundle terms and exclusions apply.

See terms at Venmo.combe. Max $100 cash back per month. Struggling to see up close, make it visible with Viz. Viz is a once daily prescription eye drop to treat blurry near vision for up to 10 hours. The most common side effects that may be experienced while using Viz include eye irritation, temporary dimmer, dark vision, headaches and eye redness. Talk to an eye doctor to learn if Viz is right for you. Learn more at Viz.com. 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 Culper. And welcome once again to Investor's Edge. This is the Gary is an excruciating pain with a, what I believe to be is one heck of a pinched nerve in the lower back edition of Investors Edge. Let's do some of the other side.

Now I started the show today with all the areas. And there's more that are in bearish phases of differing levels. Some gross. just want to let you know. You ever hear of a company called GENESCO? Well, it's sports apparel, headwear, footwear. It's gone from 66 to 19 this year and gapped down from 30 to 20 yesterday. You got that?

Children's Place in the last year, 58 down to 17. That also gapped down this week on a worsening outlook. Big Lots has gone from 30 down to 6 on a worsening outlook and gap down this week. Dollar Tree, gaped down yesterday from 155, closed at 136, bounced a little bit today. Dollar General has gone from a high of 261, closed at 204 today. Under Armour's gone from 13 to 7 since February. Macy's 25 in February, it's 14 today. Coles was 47 in June of last year.

It's 20 today. Nordstrom's was 27 in February at 16 today. Crocs was really strong. until it topped out at 151 five weeks ago. It's already down to 106. Huh. Burlington stores hit 240 in February. It's 159 today.

Do I need to do more? Because I can, but I won't. We're just making a point, always recognize areas to avoid. The retail area for the most part has been obliterated. Nike just went from 128 to 107 in two and a half weeks. By the way, while the semiconductors and tech do what it's done, it is imperative to get some sort of ability to be able to flush out all these losers. By the way, Ollie's bargain just went from 68 to 54 in the last week.

I think you get where I'm coming from. Thames, five below, 225 weeks ago, 177 today. themes that's what we do here all this talk about the market this and the market that nope 200 sectors sub sectors every country every commodity has to be followed because in the last two days while some areas went in fuego you would have lost good money if you're in other areas. We are stunned by this divergence. It's the widest, pretty much got to be in our top five on record. As we have stated, we'll just stick to what's good and avoid what's bad. And if the narrow wants to stay narrow and keep going,

terrific. If the crap wants to say crap, terrific. We'll stay out of it. And that's how we'll roll. So hope you're working at this. Before Thursday, all we were talking about

was tech. And then NVIDIA. Stunning. Surprising. And pretty much we're never surprised. We've been through everything in the market. We've had flash crashes, crashes, crashes, meltups, meltdowns, recessions, COVID, money printing, financial blowups, fraud, corruption. You name it, we've seen it.

The greatest stocks go into zero, the worst stocks going crazy. You name it, we've seen it. Work hard at it. It could be fruitful. It is your money. weak, no clue, but definitive high note in the technology arena. You're going to be hearing the words overvalued. You're going to be hearing not reality.

The market is reality at any given point in time. Do not forget that. just like in the bear when they told you it was undervalued and it would drop another 50%. You'll have a great weekend. Happy Memorial Day. Look it up. Drive safely, travel safely.

And when you get home, do like I do, make sure you hug your children, hug your family, take care of your pinched nerve if you have one. And we'll be back on Tuesday, Monday. We'll have the best again. stay well all thanks for joining us i appreciate you goodbye this has been investors edge with gary cult bomb on biz talk to listen to past episodes or to get in contact with gary go to gary k dot com that's garyk k dot com hi this is daniel robey the host of bookmarked by reese's book club a podcast by hello

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