Investor's Edge with Gary Kaltbaum - The very mushy week in review [06.14.2024]

Episode Date: June 14, 2024

https://garykaltbaum.com/

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's june 14th it's friday it's 2024 i'm on a plane tonight on delta from orlando to new york to my usual 92 and 90 year old parents father's day and all that fun stuff delta is so good these days

it's not i can't begin to tell you if there's any air i mean they just got game that's all i can say Delta has game. I can't say that about others. Though others are good. Hope you're going to have a good weekend for all the dads. Happy Father's Day. As always, serious talk on everything that affects you, and we pull no punches. We have no agenda, no ulterior motive, no bias. We lost all of that, all the love for all the Morlocks based on everything they've done throughout the years. And I still and Mr. Logic. We are amazed at the illogical

that is out there and we just tell you like it is. That's all. But first, if you do not get this radio show in your city, we'll post it at garyk.com. We'll post it on our Twitter feed, which is now X, and if you don't follow us on X,

you should. You want to email us, you just got to be nice. Pretty much 98 out of 100 of you are nice. One's nasty. ones like and in between, we don't suffer any of the fools.

And as you know, we'll do markets, the economy, your job, your industry, employment, debt, deficit, scams, shams, corruption, Israel, talking about the illogical on what's going on on Israel. And anything we think is important. And when we talk about things that may not be, owe the market.

Everything gets intertwined, ladies and gentlemen, in case you do not know that. Everything gets intertwined. And I want to start off with something that just been front and center

for a while, but I'm not so sure front and center enough. Boeing. And I'm not here to pick on anybody, but I'm here to state facts. And I must tell you, my thoughts have to do with Boeing must have great, great, great representation. I'm not talking attorneys, but I'm talking about with the media, with politicians, you know, all, all these actors and actresses have you know media consultants I think Boeing probably as the

greatest media consultants on earth and I say that because well first off let's state for the record there were a couple of tragedies years was it the 2019 and Boeing mishandled those and I know there was some proceedings and outcome and this and that. Boeing trades on the New York Stock Exchange in case you did not know. Boeing stock closed today at 177 and a quarter. The all-time high was 441-42 February of 19, so five and some odd years, and you are down about, I don't know, 60-some-odd percent.

it did hit a low during COVID time of $89. That was COVID time, though. After COVID hit a low of 113 and has bounced up. I'm not accusing them of anything. I am reading to you the news. And all I can tell you is that every day, and by the way, we don't own any Boeing stock for obvious reasons. They're now being investigated for quality control issues with their 787,

that hundreds of fasteners have been improperly installed on the fuselages of some of the jets. There was another story out on Boeing that there was a 737 max out of service for 20 days after something called a Dutch roll. And it happened three weeks ago, and it wasn't reported. I believe it was the Southwest Airlines.

And you can look up a Dutch role, but I must tell you, it doesn't sound too good, and then there's something about the type of material counterfeit titanium, but that's also Boeing in Airbus jets, they are saying. Okay. You know what Murphy's Law is?

I'm just letting you know, it feels like, and I hope the people at Boeing don't get mad at me for saying this, but it feels like based on everything I have read and continue to read, the media is not only going easy on them, but kind of sort of not even reporting on them. It's kind of like an aside in the last I looked. They got a lot of planes in the air. and I am pretty darn sure their number one goal is our safety I'm pretty darn sure about that

because what's the alternative but I'm also pretty darn sure there's some cracks I don't think these things that keep coming out are happenstance let's just keep fingers crossed well you know what I mean by that I just had to bring it up because I read.

And the first thing I read this morning was the titanium thing. And then the middle of the day I'm hearing about a Dutch roll. And then I'm hearing all in the same day. I hope they get their act together. They really need to get their act together. And of course, there are whistleblowers too that say they have been negligent. I'm not saying they're not right or wrong. I'm just telling you facts.

These are airplanes. What am I flying on tonight? I think maybe an A320. I'm not sure. Maybe a 737, not a max, though. Not sure. Anyway, I just have to start with that because it just feels weird. That there's not more really intensive...

Has 60 minutes done a story on them yet? I haven't seen it. I'll have to check. Because usually 60 minutes, they're the ones. So we'll start with Boeing. Next I want to bring up, and then we'll get into markets. I find it utterly amazing. And you know when I tell you that in markets, that the portfolio managers will meet with executives in the morning

about what they own and what they don't own and how many they own and should they own more and discussing what should be the outcomes. I got to tell you, it feels like that's the New Yorker that hates Israel, the New York Times that hates Israel. It feels like they're in meetings in the morning and saying, how can we piss all over Israel today? let's have an outcome and then come up with a reason that we have the outcome. The New Yorkers doing a hit piece on three Democrats, progressives. They're doing a hit piece on three Democrats.

They're actually going, and tigers eat and they're young because they dare back Israel. And I'm thinking to myself, what happened to these people, that they would go after? a democratic country, a land of peace, where Jews, Christians, Arabs, Muslims, gays, every gender denomination, race, creed, color, play, live, work together. Where Israel hasn't been in Gaza for, what, about 17 years, but they keep saying they occupied it. Where they call it apartheid, even though the opposite of apartheid is Israel. Up next, we'll put a bow to.

tie on that. We'll get into the week in review. In the markets, this is the one only Investor's Edge. Hi, I'm Gary Kalbaum, hosted a nationally syndicated radio show Investors Edge. We're not just handsome radio people. We manage investors' money for a living, specializing in fee-based

discretionary money management. No big commissions, just a fee on the assets that's managed. We also provide a full range of personalized services including retirement planning, fixed income, and educational needs, all to assist you in achieving your financial goals. Understanding not all individuals have the same needs, we'll 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 complimentary portfolio review. The number to call is 888-4-22-5-59. That's 8-5-5-9. That's 8-5-5-9. 5-9. Investment Advisory Services offered through call bomb capital 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. Don't settle for less. Go to Tommy John. 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 VentureX card. VentureX 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 lounge. 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 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. 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 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. And just so you know, I am not talking about the ass clowns.

I'm not talking about the ass clown racist Jew haters. I'm not talking about these students that. couldn't even tell you where Israel is on a map. I'm not even talking about the anti-Semite people running the colleges. These are people that have influence. They're writing. People are reading. Well, I take that back.

The people that run colleges have influence. And they're just lying. And they're doing it in plain sight, and they're using that fact that Israel is defending their country against a bunch of people who have sworn to have a thousand more October 7s. A thousand more October 7s. Do you know how many missiles were lobbed into Israel yesterday?

And are they expected to stand down? What city are you in right now? Think about the city you're in. And look 30 miles to the northeast, south, or west from you. that go 50 miles and imagine from that point people are lobbing missiles onto your city what are you supposed to do

stand down cease fire yet these people at the New York Magazine every article from the New York Times now is how bad Israel is nothing to do with Hamas did not one

everything is an aside now on what Hamas did to Israel. Gary, what does that have to do with markets? These people are reporting on it. These people aren't reporting on Joe Biden's $2 trillion a year deficits. You're my guy. What we're trying to make a point is, you all better do your homework.

You better do your homework. You better do your work. because you're getting snowballed, and they're doing it on everything. And we can sit here for five hours and name names and tell you what they said. The nonsense that's coming out of them. And of course, the favorite ones are ones that say, there wasn't any rape. That was artificial intelligence. Well, that's the tick-tac-toe of the business.

You know what we've said about tick-tac-toe. you can never win so you never play the game. You don't even debate those people. Screw them. But the New York Times, really? Anyway, just had to bring that up because the New Yorker is now going after their own. They're going after Democrats because they back Israel, the horror. The horror.

Which takes me to Biden. Where is he? There's videos of people on subway saying, Who are Zionists here because we want to know because we'll get out. There's video of people walking down streets wearing yarmikas and getting attacked by 10 others. Where's Joe Biden on this? The President of the United States? Oh, that's right.

I got to go down the middle here because I don't want to lose Michigan. We'll keep reporting. And it has everything to do with the markets. your money, your job, the economy, because these are the people running the show. And I said yesterday at end of the show, I wasn't being flippant. I wish I ran for president.

The country needs some logic. I'm not so sure we're going to get them with the... Well, I'll stop there. All right. The Dow was down 58 today. It was down 110 with two minutes to go. The NASDAQ was up 21. It was down two with two minutes to go.

The NASDAQ 100. was up 80 to what? The NASDAQ 100 was up 82 today with the NASDAQ advanced declines 1,100 up 2,900 down. So let me give you the positives and let me give you the negatives. The negatives. The divergences in the market are getting wider and wider by the day. And what that means is a narrower and narrower. a select few names and areas are holding up the market while other areas are going no place fast or going down.

This whole week, a lot of it was that. Today you add Nvidia up another 260, which is 26 bucks, Microsoft the buck 40, Broadcom 56, Costco 5, Netflix 16, NASDAQ 100. Dow was only down 58, but the Russell 2000 was down the equivalent of 600 Dow points. The advanced declines fell deeper into the abyss versus the market. Now, if you've been listening to this show, you know where we stand and you've been paying attention and not losing your butt. How can the market be losing your butt when the S&P and the NASDAQ, NASDAQ 100 are right in and around highs? Well, because the transports, the small caps, the midcaps, the economically sensitive names, a ton of the retail, the oils, the commodities, a bunch of foreign markets, the regional banks. Shall I continue?

Today they got the cruise lines. they've been killing the airlines again, the hotels. Don't get me started on the dollar stores. Now more than ever, you better be targeting areas of the market. If you look at the equal weighting, ETFs versus the non-equal, what a difference. So let me give you possible outcomes. If the broad market worse,

they will eventually get everything else. If the broad market deepens, they'll eventually get everything else. If the broad market stops going down and tries to turn up and just stops going down, that would be good news. But with the Dow only down 58 and the S&P only down 2, the Russell 2000 had the equivalent of 600 Dow points and advanced declines on New York with 12 up 27 down, make that 28 down, and on the NASDAQ 11 up 29 down, them dogs will not hunt. Up next, we'll stay on that.

This is the one only investor's 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 change. 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 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. 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 confuse. used 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. You 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. 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. And welcome once again to Investors Edge. By the way, this just came up. Anti-Israel activists just firebombed a building at University California Berkeley. They proudly took credit for it on social media. Quote, every single building on the UC Berkeley campus deserves to be incinerated. UC system must divest from Israel or face our wrath of revenge. Here's what should happen these people.

You find them, you indict, arrest them, you indict them, you try them if found guilty, stick them in jail for two to five, and then they'll know the pain. Because you know what's going to end up happening one day? Somebody's going to be in one of those buildings, and they're going to die. Somebody's going to be murdered. And then you just know what's going to happen. There's going to end up being vigilante justice against these anti-Israel criminals. And they're going to die.

but the powers that be have their thumbs up their butt picking their nose and doing nothing about all this and I am telling you if it was any others it was being done to they'd be up in arms let these people come to my house and send fire bombs I have a Louisville slugger and you know what happens when a Louisville slugger hits the kneecap man I'm pissed

I haven't seen anything about arrests I hear no words out of Biden but they were talking about climate change today not protecting the citizenry climate change that'll fix things up in really bad news my fantasy team on the US Open Golf

worst I've done in a long time Hovlin Gone Fleetwood gone I'm terrible Oh well What can I tell you They fire bomb buildings

And nothing's going to happen to them You know who the Hadid Sisters are models They complimented Hamas yesterday Because one of the kidnappers Made a birthday cake for one of the hostages. You think I'm making this up? We tweeted somebody applauding Hamas because they baked the cake for a hostage. No really. No really. No really. It's not hard to be logical these days,

ladies and gentlemen. Unfortunately, you're dealing with a lot of illogic. And unfortunately, I didn't run for president. And we have to segue back on the markets. So we just did a webcast in the 3 o'clock hour. We sent it out to our peeps. I'm doing some traveling, so got it done early. And basically, the webcast was on, look at all these areas in stocks, that are not only not keeping up, but their own private bearish markets, bear markets. And we went through the transports in the oil.

And by the way, why are the transports down when oil is coming down? Shouldn't it be the opposite? No, economics. the 10-year yields down, why are small caps down? Economics. We already had a 1.3% GDP. I am pretty darn sure this market may be snuffing out and flushing out that we are going to get some negative GDP numbers soon.

Now, whether or not they get real bad, we'll know, because the Dow will be 3,000 points lower. We'll know. But this cannot continue. You cannot continue to have 12 up 28 down on the New York, 11 up 29 down on the NASDAQ, and things end up well when all is said and done. It will only be for so long that Nvidia and Microsoft

and meta and these bigger caps will do the job before under the weight of the weakness, they come in. Did not happen today and finished well. I think the Dow was down 300 early. Now the worst areas are what we call near-term oversold. And all that means is they've had a rough few days and deserve to rest on the downside and bounce. You know, down five up one, down four up two.

But there are a lot of trends now. that are not up. And I'd like to say it's good that the transports were down 400 and finished only down 161, but they were still down 161 and are in a bearish phase. As I said earlier, the other things sticking out now are foreign markets are coming in also. And this is while Europe just lowered interest rates. I believe Canada lowered interest rates and the market's not caring. and that gives us the wondering

that the market is now looked past and at the economy because as the economy softens, demand softens, if demand softens, sales soften, if sales soften, profits soften,

if profits soften, margins soften, and stock soften. And we put it out to the many of you, tell us what's happening in your neighborhood. Tell us what's happening in your business. Is there a restaurant you frequent and business is better or is it worse? And we've been getting a lot of info.

The main info we've been getting is the consumer spending less. That's the main info. And the consumer being what they tell us, 70% of the economy, if not more, therein lies what we may be seeing. if anything changes we'll let you know markets are fluid but at the close of the day today the Dow could have been down 400

that wouldn't have mattered whoopi do that they bounced American Express a couple of bucks some other things off the lows of the day the broad market is plain old yuck and you know it if you have one of those hundred stock diversified portfolios right now as it is going down

We're very concentrated in the big cap tech right now and are going to stay that way until something changes. We're open to any and all outcomes. But man, oh man, something up. And I repeat, we will know a lot more if this continues about the economy. We're big believers. The market's got big eyes and big ears and a big mouth. we have bigger ears.

We listen to the market and we have the bigger eyes. We watch the market. Many more new yearly lows than new yearly highs on the NASDAQ, more than three to one. More new yearly lows than new yearly highs on the New York.

And the S&P, NASDAQ and NASDAQ 100 are at highs. Wow. Not saying it's 99-ish. I'm saying it's heading to 99-ish. We'll keep you up, we'll keep you informed, we'll let you know.

The chasm is getting wider. Up next, whatever else we think of. 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-drop 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 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 confuse. used 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. You

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. Investers Edge with Gary Culper.

And welcome once again to Investors Edge. Starbucks and Long Island vandalized with Hamas symbols and Intifada is here. here's a young man at the University of Illinois, Chicago, at a sermon today. America is the cancer. America secularism, democracy, capitalism are cancers. Islam is the answer. We're getting more and more of this crap, ladies and gentlemen. Stunning.

I don't think these idiots recognize eventually there's going to be a pushback in the big way. Herndon, London, Jewish community. as they prepared for the Sabbath, a young Jewish man was attacked by a group of teenagers from a local school and struck with a bottle. A witness reported hearing one of the teenagers shout, you effing Jew.

Okey, dokey. You all have a great weekend, right? Other things of note. Look how we got a segue again. And believe me, I don't. When you have a chance, if you have a chance, and if you can. so you can understand what I am watching at this moment in time with the markets.

And to repeat from yesterday in 1999, for example, the housing stocks went to one-time's earnings as it was sell everything and buy the few. And the few got narrower and narrower as we got to near the highs on the climactic run. The advanced decline figure was dropping. as the NASDAQ skyrocket and the S&P did nothing. It was the NASDAQ at that time. All hell broke loose. Once they came after, the strength.

We're watching now. And the only reason we can report this to you is because this is exactly what's going on. There's a reason why we only own the mega cap. That is where the money continues to flow. They're now very stretched, extended to the upside, like these other areas. is a stretched extended to the downside. What we'll be watching for and what we will be looking for

is again climactic moves, and what is that? Think of the space needle in Seattle. Think of the Eiffel Tower in Paris. That's what you will see if you plot price on a chart. That is the end of moves. You saw it years ago until Ray marijuana stock

excuse me you saw it in GameStop on that first go round climactic move if there's any stock that does that I would suggest it would be NVIDIA because that is the number one name right now

and by far I know I'm coughing you'll have to put up with it I don't have a dead button here that is not a prediction we just know how history and precedent has everything to do with the future. We'll continue to just play it day by day, stock by stock. But I must tell you, in no uncertain terms, I'm stunned. I am stunned that if you take out 100 stocks out of the market,

market and mostly tech, AI, and the like. Them indices is a lot lower. So I'm on notice, which means you're on notice. And our edge, and now your edge, there ain't nobody paying attention to what we're paying attention to. I saw people on TV saying the market's in great. and I'm thinking what market are they looking at. Oh, that's right, the indices that are over here.

They ain't doing the work we're doing. If you own Norfolk Southern and Federal Express and J.B. Hunt and Old Dominion freight, you're getting squashed. If you own New Corps and Steel Dynamics in Steel. If you own Apache in the oils, you're getting crushed. If you own Cracker Barrel and Starbucks, you're getting blasted. And every day there's more and more. And again today, 11 up 29 down on the NASDAQ with the NASDAQ up and the NASDAQ 100 up 82

because of how weighted these indices are. We're going to have a great edge if this continues going forward. Better than anybody else out there. Stay listening. we mean business. You all have a great weekend if you're traveling, drive carefully. Don't forget next Wednesday, we're off Juneteenth. And when you get home, do like we do, make sure you hug your family, make sure you hug your children.

Make sure you hug your father. Have a great one, everybody. Thanks for putting up with us. The good news is most are not what I described. Peace out all. Good night. This has been Investor's Edge with Gary Coltbaum on BizTalk. To listen to past episodes or to get in contact with Gary, go to GaryK.com.

That's GaryKK.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% 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 VentureX card. VentureX 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.