Investor's Edge with Gary Kaltbaum - TIGHT ACTION!

Episode Date: December 12, 2022

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

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Terms apply. Lounge access is subject to change. See Capital One.com for detail. Investor's Edge with Gary Coltbaum. Straight talk about you and your money. Now from the BizTalk Studios, here is Gary Cultbaum. And welcome once again to Investors Edge. I'm Gary Colpom, your host day.

Thanks for being with us today. Glad you here, ladies and gentlemen. Happy that you are listening. It's December 12, 2022. And as always, we have lots to cover. As you know, this is a show about you, then everything affects you. Your money, the markets, the economy, your jobs, everything under the sun without any bias, a gender, ulterior motive. We do mean business.

Serious talk with a little comedy injected when need be. Hope you had a great weekend as we head into the holiday season. May I state if you have the ability and if you're in the position. think about doing something for somebody you need absolutely nothing from let me repeat that again if you have the ability and if you are in the position think about doing something for somebody that you need absolutely nothing from. Family in need, kids in need, charity in your area. I'm into the, how do I put this?

You know how some people will cut a check? And here it goes, I cut a check, but I am touchy-feely. What means is I want to be a part of a part of. whatever. Tomorrow night will be, I'm not sure what the number it is. We miss two years because of COVID and we miss Thanksgiving because of a hurricane, but it will be the Kaltbaum family, blessings banquet. I think we're going to have 300 kids, children, young men and women from the Central

Florida area, the boys and girls clubs, that we will be having a holiday dinner for. tomorrow night. It's usually Thanksgiving, but again, the hurricane. The hurricane hit the exact day we were supposed to have it. So that was that. Anyway, hope you all have a great holiday season. Hope you and your loved ones are doing great. All right, let's get to it.

If you do not get this radio show in your city, we'll post it at garyk.com. We'll also post it on our Twitter feed. And you can follow us on Twitter. Just go to our name, put our name in, or at garyk.com, press Twitter. You can email me. Just be nice. Nice is good, right? Good.

We came into this week. Let me quote myself from Frye. next week could get very interesting. That was me on Friday. That was me in my webcast this weekend. And what do we mean by that? The market had been a hold right here. We used the term goal line stand.

It's a place in the market that we call and say, has what we call definable support. Defineable support. That's a good analogy. Well, let's see. You're in Minnesota. You're ice fishing. And that ice is your support.

Right? The hope is it stays support and you don't fall through the ice or else. Now, of course, this isn't as dire as something like that. But when we talk price here, that's what we're talking about,

an area of support, definable, that every time price goes down to a certain level, whether it be an index, whether it be a sector, a country, a stock, a

commodity, a currency, And every time price goes down to that level, it holds. Well, on Friday, that ugly clothes on Friday took things down right to support levels where over the weekend, I had a list of 20 names that if they had a break below that ice to be shortable. or sellable, or whatever. And that's how we came into today, because all we've had is five weeks of nothingness, somewhat of a harsh pullback in the last week, especially in financials, in oils,

and a bunch of other stuff. Well, we can tell you happily for those that are quite the invested in their 401ks today. the market held. And not only did it hold, it quietly. And when I mean quietly, it wasn't very noisy.

It just drifted higher and higher and higher all day into the close. The NASDAQ was again lagging and laboring. And then Apple starts doing better and guess what the NASDAQ does? It follows. But when all the NASDAQ was, But when all was said and done at the end of today, we're still range bound with warts.

But if we can darn break out of that range, that would be great news. If we break down out of that range, that would be bad news. Now, remember how I said the ice. Well, there's also resistance called the ceiling. imagine if you had to get into your attic, the ceiling, but the door to the attic is locked shut and you have no idea how to get through. That's your resistance getting through the attic.

What happens if you get a crowbar and unlock that door to the attic? and break into the attic. That's breaking above resistance. That's what you want to see in Price the other way. So what happened today was Price hit support, held, rallied off of it all day, and got us right back into the past five weeks with some warts. That was today from Friday.

and quite amazing because if somebody would have asked me over the weekend and nobody did but if somebody asked me I would have said man it just feels like this thing's getting taken out that's what I would have said instead

and just remember we only act if things get taken out support held for today we'll explain tomorrow and Wednesday coming up that's your market for the day I have yet to scan. I have yet to do volume numbers. Bottom line, though, market held for now,

which takes me to the next part of the equation. Tomorrow is another one of the most important inflation numbers in our history, and we'll see how the market reacts to it, good or bad, Wednesday is Jay Powell. The final addition of Mr. Bubbles and his merry people, and they're playing God with our lives in markets, and what they decide to do, the chalk,

the telegraph is for them to very simply raise rates another half point. That's what's their telegraphing. And that's what we expect. on Wednesday. We'll see if the market can break out above the ceiling, the near-term ceiling, of course, because we're not talking about big leadership, new yearly highs.

There's hardly any. But you've got to start somewhere. And when you have a chance, go look at the charts at the NASDAQ, NASDAQ, you'll see tight five weeks near the lows of the bare market. If you look at the S&P, you'll see tight four or five weeks. better than the NASDAQ, NASDAQ 100, and bringing up the front is the Dow, where has the better relative strength than the other two. That'll be for tomorrow.

But just letting you know, really good goal-line stamp today and a very good finish. I wonder if they leaked up next. I'm Gary. This is the one only investors edge. Hi, I'm Gary Kallbom. hosted a nationally syndicated radio show Investors Edge. We're not just handsome radio people.

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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 Spreaker distributes it everywhere people listen. Apple Podcasts, Spotify, and about a dozen apps your cousin swears are the next big thing.

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The last bastion of quality programming. With Gary Coltbaum. It doesn't get better than this. And welcome once again to Investors Edge. So, today's market wrap is brought to you by Investment-Models.com. That's Jim Rohrabach, 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-mottles.com. Doutp 528. Let's take a look at the doubt. while I have you here. So the Dow was up 528 points. It is still down 580 points from five days ago. And held, I'm going to call it about 335. That's the one, two, three, last four weeks on the Dow, the S&P, up a juicy 56. And if you look at the S&P, listen carefully. we had that November 10th day, remember, gap up 900 points? We've done nothing ever since.

The close that day was 3956. We closed at 3982 today. One, two, three, four weeks later from that day. But guess what the low of the last four weeks were after that day? Anywhere from 3906 to 3922, it hit, 3935 today before bouncing up. The NASDAQ up 139, and to be clear, the NASDAQ didn't get going until about 240. Seriously, until about 240. The NASDAQ up 139 today. 139 to 11143. The close of November 10, 4. Right there. Keep in mind the day before was a closing low of the bare market.

What was important about the NASDAQ today held the little 50-day moving average back down at those lows. But keep in mind, five days ago was 11-5-4-6. We closed at 11-1-1-3. But good day and good close. NASDAQ 100 up 143, the socks up 58. I'll tell you what's the weirdest, though. The transports. Up 417 today. They're kind of trading like penny stocks, the transports. They got hit hard over the last five days,

and poof, we'll just rally up 417 points today. 14-1-80, just four days ago was 14-6-88, so work to do. but really good day. And you know how we're master technicians, the best in the business. There's usually rhyme and reason in what we do, most of the time. And really, all we want to do is get the big picture right,

not the small picture. And small picture is not easy. And what do we mean by that? Oh, what happened today? What happened the last three days? We're looking for the big up. trends, big down trends. But in many cases, what have you had recently? Five weeks of nothingness. In the transports, I can tell you, there's some names. I hope you might not mention them.

They look ready to get trashed and instead had a strong up day today. And instead of looking trashed, they don't look great, but they look definitely defended and out of the woods for now and that's what you get sometimes when you are in these range bounds moves what else today you got bounces in the financials we'll call them just bounces you got bounces in the oils we'll call them just bounces uh bounces in the regional banks we'll call them just bounces and what do we mean by that oh they've been killed you've had bounces in some of the tech uh the semiconductors the socks is up 58 today and guess what what is the semiconductor doing well after it went up the lows have been 2634

2655 2645 2645 2668 well today had a real good day got back up to 2779 and back in range and let's see if it can break above range don't know if it will or not we'll see and of course let me be clear about the semiconductors. If we're going to go higher, they have to go higher. Let me put it better. You want them to go higher. What's missing? I've got no new yearly highs in the market. You ready? Here's my new yearly high list. I'm not making this up. This is with a Dow up 500 today, just to give you an idea underneath the surface of strength. I wrote the list down. I can't find it. I can't find it. but it takes me one second to come up with the new high list. On the NASDAQ, we'll start out.

You ready? Simple F-L-E-X, it used to be called Flex-Tronics. The Turkey Exchange-Traded Fund, Turkey is strong. No, not seriously. On the NASDAQ, that is your new yearly highs. I'm not making it up. that's your new yearly highs on the NASDAQ. That's it.

On the New York, new yearly highs, okay. Cigna, managed care. Something called Target Hospitality, symbol T.H. Specialty rentals. That's my new yearly high list on the New York. I'm looking, looking, I'm looking. Ah, PG and E-Corp. That would be symbol PCG utility, central and North California.

That's your new yearly high list on New York. That's it. No, really, that's it. So we really need to see much more, much better, much more leadership. And I will tell you, eventually we'll get it if we keep stair stepping up. It just hasn't happened yet. we go into a very important inflation number tomorrow and the Fed Wednesday. We can have another big week up.

We can have another big week up. Or they can flatten it and break it below. We're at one of these moments. I forgot who said this once. Next move wins. What do we mean by that? The price action has been so tight for such a while that the next move wins. you either break above the range or break below one day specifically two days we'll make or break the market here that's all

now we're talking indices not every sector not every stock but we're just letting you know when you have a chance and we're going to show it tonight very tight action to work off of here and hopefully it's the right way up next whatever else i'm gary this is the one only investors edge this message is brought to you by the capital one venture x card venture x offers the premium benefits you expect like a three hundred dollar 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 one thousand airport lounges worldwide the capital one venture your X card. What's in your wallet? Terms apply. Lounge access is subject to change. See Capital One.com

for details. This episode is brought to you by Spreaker. The platform responsible for a rapidly spreading condition known as podcast brain. Symptoms include buying microphones you don't need, explaining RSS feeds to confused relatives, and saying things like, sorry, I can't talk right now, I'm editing audio. If this sounds familiar, you're probably already a podcaster. The good news is Spreaker makes the whole process simple. You record your show, upload it once, and Spreaker distributes it everywhere people listen. Apple Podcasts, Spotify, and about a dozen apps your cousin swears are the next big thing. Even better, Spreaker helps you monetize your show with ads, meaning your podcast might someday pay for, well, more microphones. Start your show today at spreeker.com. Spreaker, because

if you're going to talk to yourself for an hour, you might as well publish it. 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. listening to America is talking Investors Edge He's got to be pleased with that The crowd is just on his feet here With Gary Colbomb Comes highly recommended

You're going to feel better if you talk to him And welcome once again to Investors Edge My New York Mets really are Doing everything they can to win a world series Steve Cohen's paying the big bucks My New York Giants sucked Against the Philadelphia Eagles But I got to tell you

Philadelphia Eagles this year look like they are in another venue than every other team in the league right now. They look like beasts. Over and above everybody. I know everybody talks Kansas City. I don't think Kansas City's near them. I think probably Kansas City is maybe two, three or four best team.

Eagles just, and I'm not saying that because they beat the Giants, they beat their pants off. I've been watching them all year. They just look really good. Jalen Hertz look really good, and they are, you know what wins Super Bowls, the offensive and defensive lines. And man, oh man, they are, they're brutal. I got to hand it to them. And that is our sports for the day.

Just some things I'm seeing and things I'm thinking. Even with the Dow P528 today and the NASDAQ up 139, just about all happening. in the last 90 minutes on the NASDAQ, Tesla was down another 11 bucks to $168. The old low just recently a few weeks ago was 166. And, you know, I was really thinking to myself, I think this stock would be $60 higher if he didn't buy Twitter. That's my guess here.

It's a guess. You'll never know. I think that buy of Twitter is key. killing his Tesla stock. For any number of reasons. The discount, always spending all this time with Twitter, which he may or may not be,

but he's tweeting like crazy. His newfound unpopularity, you know how the tolerant left is. If you disagree with them, you say anything bad, even if it's the truth, you're the scum of the earth. But then again, it's the same thing on the right also.

So I'm just letting you know what I think. Whether it affects the business fundamentally, I don't know. There's some real smart people out there that think the competition is going to be very tough going forward as more and more get into the game. We'll see. I'm just letting you know, man, oh man, there ain't no give on this guy. So I want to mention Tesla. Next, Clovis Oncology. Why would I bring this one up? Well, it's because it was oft-talked-about company over the last bunch of years. A biotech, a cancer involved, they filed bankruptcy, biotech.

We just want to let you know that the stock hit a high in 15 of one. 17 and Just want all these things to be lessons for all of you That's when I do this for you Just continue to make sure these are lessons for you I don't think it's talked about enough in other circles The amount of money lost since February of 21 because of getting too cute taking your eye off the ball, not using stops, buying quality, not listening to a bunch of crooked

tout artists, and just thinking logically, the amount of money lost by not following those simple rules has just been gargantuan. I spent a half hour this weekend just going through. All the IPOs of the last three years. Let me take that. back most all the IPOs of the last three years. And we warned you that they were being brought out at just ridiculous valuations and there was going to be hell to pay. My screen, let me just read prices to you on my screen.

$2.72, $1.74, $8.43, $84, a dollar one, $78. Let's look at the 78 cents. I'm just picking one out of nowhere. Symbol is B-O-D-Y. It was $18 IPO. Just picked one out. How about symbol B-O-N at $1.5, that was a $16 IPO? How about D-D-L?

That was $40, $4.68. The amount of stocks that had just been mauled, mutilated, crushed. Remember the honest company? I've mentioned this before. I believe it was like a $16 deal. They opened it. It was $24 the same day.

It's $2.70. This is Jessica Alba, her company, that they brought public. Crushed. Crushed. T-U-Y-A. 26 down to a buck 74. I can go on and on.

We just want you to remember this. We're going to have another bull market again. I promise you. We're going to have another big bull market again. When that bull market ends, I just want you to remember what's going to happen again the next time. It always does. We were prepared for this. We warned all of you about this.

We use terms like unwind. We're even amazed. We're even stunned. as we go through. So I went through these IPOs this week, and I couldn't believe what I saw. And I kind of already knew, but it's good that I do it,

so I never forget it. Remember Vimeo? They do like software video and stuff, cloud-based video software, 50 down to 3 and change. Rocket mortgage? Yeah, 38. There was the high, it's 8.

and we don't do this to like, you know, hey, look, we do it. We want to make sure it never happens to you going forward. We think it's imperative because it will happen again. And we even mentioned Rivian and Coinbase and Robin Hood. Who warned you about Robin Hood the day it came public? We did. that week it was 85 bucks we told you this has been born to trade

bubbles the stock was going to be destroyed it's nine bucks so we're just letting you know we went through the little exercise again this weekend and we just wanted to do it with you for five minutes again just in case

you've forgotten and you know what the problem is going to be when we go to the next bull market and get the froth and the speculation, are people going to jump all over it again. Why? G-R-E-E-D. I get it. I'm greedy, too. I want to make as much as possible. We're just letting you know in bare markets, in bare markets, low will go much lower beyond your wildest nightmares. And it's been proven once again. Up next. Oh, a little bit of Janet Yellen, a little bit of Jay Powell, and this, that, the other thing.

I'm Gary. This is the one only in Venture's Edge. This message is brought to you by the Capital One Venture X card. Venture X offers the premium benefits you expect, like a $300 annual Capital One travel credit for less than you expect. Elevate your earn with unlimited double miles on every purchase, bringing you one step closer to your next dream destination. Plus, enjoy access to over 1,000 airport lounges worldwide. The Capital One Venture X card. What's in your wallet? Terms apply, lounge access is subject to change.

See Capital One.com for details. This episode is brought to you by Spreaker. The platform responsible for a rapidly spreading condition known as podcast brain. Symptoms include buying microphones you don't need, explaining RSS feeds to confused relatives, and saying things like, sorry, I can't talk right now, I'm editing audio. If this sounds familiar,

probably already a podcaster. The good news is, Spreaker makes the whole process simple. You record your show, upload it once, and Spreaker distributes it everywhere people listen. Apple Podcasts, Spotify, and about a dozen apps your cousins swears are the next big thing. Even better, Spreaker helps you monetize your show with ads, meaning your podcast might someday pay for, well, more microphones. Start your show today at spreeker.com. Spreaker, because if you're going to talk to yourself for an hour, you might as well

publish it. 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 1 VentureX card. What's in your wallet? Terms apply. Lounge access is subject to change. See Capital1.com com for details. You're listening to what are you waiting for?

Well, what are you waiting for? One, two, ready, go. Action! With Gary Culper. Well, one of my favorite shows when they are not biasedly political. Is that a word biously? And you know what I, all this media, they're just in the tank. But 60 Minutes is just a great, great show when they're not doing

politics because they're just as scummy as everybody else when it comes to politics. They're in the tank. And what that means is if you're on the left, it doesn't matter how bad you are, they love you. On the right, it doesn't matter how good you are. They hate you. With blinders. That's just it. It's the default setting for the national media.

We know that. We've seen it forever. The reason why Fox News is so gargantuan is because they recognize that the fair shake was not given to one side. And by the way, we're not taken aside with just with stating what we believe for a very, very long time. But 60 Minutes is still a great show. And they have so many great segments on there that I love, except last night. They brought Janet Yellen on. In case you don't know, she's the Treasury Secretary, she was in between Bernanke and Powell as the head of the central bank.

To her credit, she actually stopped the money printing or slowed them down or whatever, but to take away the credit, she was part of the Bernanke nonsense. And to really take away the credit, she's been nightmarish as a Treasury Secretary. She's a Marxist-slash-Sour socialist. Higher taxes, bigger spending, more control. You know, control freakism. Well, they had her on last night. And unfortunately, the interview was like she's a god.

And I get it. Hey, we got this woman and she's the Treasury Secretary the first time. And let's compliment that. Terrific. She's a horror show between her Powell and Bernanke, distorted all price and yield, screwed savers, destroyed free markets, created the biggest, widest wealth inequality in history of the world,

enabled all the inflation, enabled the massive debt and deficits, has said nothing about it. They talk about their job is their mandate of stability. They're the freaking opposite of stability, and they just treated her like she was a god last night. It was so depressing to watch because the damage these people have done to free markets, free will, is just beyond the beyond.

I have to wait for one man's whims who's been wrong 100 out of 100 times and caused all these problems on Wednesday. And the amazing part, he can actually make the markets go up. That's the position these people have been put into. God, he was able with no accountability

and without answering to anybody, He was able to print up to $9 trillion to interfere with markets. It's sickening. So I'm just letting you know that was the pressing. And I watched as much as I could, and then I had to shut it off. Because when they showed that her signature was on our U.S. dollar, I wanted to heave. these are the worst possible people and by the way this goes for both parties

Powell was under Republican and just remember Trump was trying to get Powell to take rates to zero and print more money Trump is as bad as the rest of them why because they all know if you just keep printing money who cares about the long term the short term I'm going to look pretty damn good

who cares if we're going to go to a hundred trillion of debt right right what you don't think we are of course we are it's going to explode but of course we are next that's just me ripping out a check tomorrow that's scumbag from FTX will be speaking to the house banking finance committee he's doing it remotely we find out you know why because his arse is going to be in a six by nine when all said and done this whole acting job he did interviews with somebody from cnbc and somewhere else the guy's a crooked piece of crap that stole this bazillion dollars from people innocent people that'll never see the money ever again and he will not come i think there's got to be extradition between the bahamas in here i think he thinks he's going to get away this dude is going to be a go away for a very long time unless you know he gave tens of millions

of dollars to politicians you know we're going to find out who he gave it to eventually it's going to be the ones that make nice nice to this crook tomorrow i was going to send an email to congress let me ask some questions i realized that was going to be pointless there's no way, shape, or form that they would let me ask those questions. The fact that the matter is they need me to ask those questions. Oh, well, that'll be tomorrow. And it should be what I would call a comedy hour because he's not going to answer anything. And I have a sneaking suspicion, these politicians that are on the dole, they should recuse themselves that they won't.

Again, that'll be tomorrow. What's the words? Oh, well. Let's just hope. Guy gets about 20 to 25. In a tough place, that'll be tomorrow. So we kind of finish on a little bit of a sour.

I will tell you this. HZNP got bought out by Amgen C-O-U-P got bought out by private equity C-O-U-P is software software stocks up in sympathy good to see and it's good to see buyouts are happening while prices are very low versus normally

they do it very high until tomorrow I'll have a great evening drive carefully and when you get home to like we do it's quite simple make sure you hug your family make sure you hug your children they will feel better you will feel better I promise until the same time tomorrow

Thanks for joining us. Have a great night, everybody. Take care. Bye-bye. 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.