Investor's Edge with Gary Kaltbaum - Whipsaw Week In Review!

Episode Date: August 25, 2023

garyK.com or https://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 Coltbaum. Well, better than yesterday. Hey, it's Friday.

Welcome once again to Investor's Edge. I'm Gary Coltbaum, your host. Hey, thanks for being with us today. Glad you're here, ladies and gentlemen. We're really happy that you are listening. Yeah, it's Friday. It's the 25th. 2000 and 23.

Hope you're having a good day. Weekends coming up. Flight to New York tomorrow to see my parents for the weekend. That's what I do. And we are going on day 19 without a back spasm. 19 days without a back spasm. I had physical therapy last night. My new thing, they just stretched the hell out of me.

that's my thing flexibility that's what I need anyway just wanted to let you know hey ladies and gentlemen I want to start off the show with one of my as you know

I am one of the biggest gargantuan professional wrestling fans I know they have these professional wrestling shows on serious ones called busted open great people. And just so you know, there's one wrestler. He used to be with the Dudley Boys,

bully Ray, they call him now. Brilliant. Mark Henry, brilliant, world strongest man. If I were to turn back the clock, I'd be hosting the show with him. That's how much I'm into it. Anyway, Terry Funk passes away. I believe he was 78, and I believe he's been ill for a few years. You know, Mount Rushmore only has a certain amount of people on it. If Mount Rushmore of wrestling had, let's say, 15 to 20, Terry Funk's on it, that good. I was there at Miami Beach Convention Center when he won the NWA championship. By the way, with a small package, it was just wrestling, you know, over Jackson. Brisco, and I will tell you, the stunning thing about it was he was substituting for his brother, Dory Funk, Jr.

And I don't remember if it was because a travel or an injury that he wrestled, but there was nobody that believed that there was a title changing hands because a sub. When the title changed hands, you could hear a pin drop, and people were crying at ringside. because Jack Briscoe was so loved. But I gather they just, the NWA, before everything, they decided to give the belt to Terry Funk. He passes away, big stuff. And then the shocker, Windham Rotundo,

otherwise known as Bray Wyatt, used to be Husky Harris before he became Bray Wyatt, passes away of a heart attack, 36 years old. What happened, it turns out he's been, off, not wrestling for a while. We're finding out he had some COVID, and he had bad heart condition, and COVID made it worse. But he was supposedly getting better, and then just dies of a heart attack. I love the guy.

He was one of these outside the box people that worked his tail off. I didn't know him. In case you don't know, Rotunda, Mike Rotunda is his father. and Mike Rotunda used to be a top flight wrestler tag team with Barry Windham. They were in NWA, WCW, then went over to WWE. That's his son. And he was named Wyndham after the last name of Black Jack Mulligan was Windham and Barry Windham, who's the great friends.

and just what a shame. Great, great talent. They used to sing the song A Whole World in his hands. He really held people in his hands when he wrestled. It was that good. So I'm going to miss that.

A somber week. I texted my good buddy, John Layfield, JBL, just to tell him, stay healthy. He retired, John, because he just, he knew his body couldn't deal with it and good good on him anyway I did want to start with that

as you know I am a as again ridiculous professional wrestling fan I used to get made fun of nobody makes fun of me anymore because it's so big I used to go to Miami Beach Convention Center every Wednesday I've been to a bunch of

WrestleMania's Royal Rumbles and I just love it. And if I wasn't doing what I was doing, I'm doing, I'd be working for one of the companies. I'd be a great writer of stories. I don't think I can produce the matches, though. I'd be a great writer of the stories. Anyway, rest in peace to them.

Let's segue. I am vehemently. Notice the big word every now and then. Big words from your handsome and buffed host. vehemently against what they did last night. As you know, I am no fan of Donald Trump, but there should not have been a mugshot. He should have gotten special. What's the word, dispensation, where he didn't have to go to a crappy jail.

But they made a, you know the story. This was a lot of politics in there also. As I have stated to you, Donald Trump is his own worst enemy. he brought it on himself and I got news for he's going to be found guilty of a bunch of stuff whether or not it rises

who knows where we're going to go with this I am in hopes if he is found guilty that there's not going to be any jail but who to hell knows in this political environment we just don't want to see that because I got news for you

what Joe Biden is done makes what Trump is done into a piker. Joe Biden used his vice presidency to gain wealth with his son. We're finding out more and more every day. I don't want anything bad to happen to him. Let him go off into the sunset with his money just like the rest of these corrupt politicians. And let's hope going forward, we can get some decent ones, though I don't have that much hope. Anyway, I'm vehemently against that they did that. I'm not talking about the indictments and stuff, but man, oh man. It's going to be one hell of, what, about 15 months as we move forward?

One hell of a 15 months. Next, I want to start with a couple other things. Spacks. Takeeth and giveeth. It's the best way I can put it. I want to mention again and just be careful. So there's a company called VinFast. We mentioned this already.

We're doing it again because it was up another $19. Today, 40% to 68 and change. VinFast was a SPAC, a merged SPAC of a Vietnamese electric vehicle company. This is truth. They sold about 1,000 electric cars. That's it. had to recall all of them. That's it.

The company is pretty much worth right now. It's stock. You know, I can't even tell. How about a lot? And they have no sales. They have no sales. I don't know if it keeps going higher or not. The story is,

99% of the shares is in one single person's hands. They're showing that VinFAS is currently the world's third most valuable car company behind Tesla and Toyota just on stock price. That stock has gone from 10 to 68 in short order on the other end of the spectrum. Better.com, better home in finance just did a merge SPAC. It went from 10 to 63 bucks in late July in three days. Two days ago, it closed at 17. Yesterday, it went from 17 down to 1. On a gap to the downside, one giveth, one taketh.

I'm bringing this up, ladies and gentlemen, for the simple reason. Simple reason. Be careful. There is a hell of a lot of money to lose in these specs. And notice, we're not telling you to buy, sell, shorter cover. you do what the heck you want but what have we shown you throughout the years

about ultimate outcomes of these speculative things the froth all of them not nine out of ten not 99 out of 100 all of them have been destroyed have been crushed

that if you weren't careful could have changed your life to the downside now to be clear if you bought a murder early, you could have changed your life to the upside. Up next. We'll put a bow tie on it and everything else. This is the one to 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 complementary portfolio review. The number to call is 888-422-5-59.

That's 888422-5-5-9. That's 888-4-22-5-5-9. Investment Advisory Services offered through call-bomb capital management. 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.

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Hey, this promises to be fun. Investors Edge. The last bastion of quality programming. With Gary Cult Bomb. It doesn't get better than this. And welcome once again to Investors Edge. So just so you know the reason why we keep bringing these stocks up, again, if you catch one early, I mean, some of these things go up five and tenfold in a day or two.

The reason I bring it up because most people find out about them after the move, and that's when they pretty much get touted the most. And as I said to you, this thing better home in finance, and I have no clue what they do. Symbol B-T-E-T-R went from 10 to whatever I told you in a matter of a couple of days, came down pretty quickly, and I can't even find any news. It closed at 17 bucks on Wednesday and opened up at a buck yesterday. imagine if you're getting cute with your money and you own a thousand shares and you look

and the next day it's one we just don't want it to happen to you guys and we are stunned that we're seeing a decent amount of this froth already and I don't know if you know bad sign good sign I've just never been a big believer that froth is good news so whenever this stuff shows up we feel it and we're coming upon us to just yap about it and again as always say to you we're not telling you what to do you get to decide we're just trying to teach some lessons here there's plenty of things that change lives in the markets great style great companies with great things going on let alone having to play as I said this

VinFast that was up another 19 bucks today they haven't sold the car and I've stopped trying to reason and try to figure out how does this even happen but what we are being told one person owns the stock and if he ain't selling people are you know frothed out you never know so Just a little word to the wise from moi. What else did I want to bring up? NVIDIA. I received several thousand emails last night on NVIDIA.

Okay, about 15. But 15's a lot. The big question is, how to heck? Do they report just probably some of the greatest numbers I have seen in a very long time, not just year over year, but quarter over quarter. And my answer is, I just don't know. That's all. I just don't know.

We're a big believer in the big institutions and following the bouncing ball. And all you really do need to know is the institutions came in and sold and sold and amazingly today sold even more, even with the NASDAQ bouncing today. So I don't have the answer for you. I just know a major reversal on major volume on the best of news and then undercut the old highs and sold badly down into the clothes yesterday. And today down another 12. It was down 20, but the NASDAQ bounced, so it finished only down 12, but still down 12. And I got an email saying, geez, Gare, don't institutions own a ton of this and isn't their job to defend it? Well, that's where the 50-day moving average comes in, which is about another, I don't know, 17 points below.

We'll see if they decide to defend it, which takes to the next question. Can something possibly be wrong? my best guess my best guess is that the big institutions have deemed these are going to be some peak P-E-A-K numbers that's what I think

there's a chance of them if I was to guess if I was to guess but that's just the guess and the only thing that matters to me is what the stock is doing where it's at and it's pretty much for me this second off my board, except it is above the 50 day, but man, oh man, it's going to have to at this point prove itself.

And they didn't do it today. Remember, on an up day on a strong day, you want to ride with the market. Instead, it did the opposite. And was pretty much an anchor. today for the market so we'll see how it goes next i wanted to bring up uh hawaiian electric nine dollars and sixty six cents down two dollars and twenty cents it was forty dollars before the fire do you want to know why we have stops on everything just let you know once it broke one

the some support areas we didn't own the stock by the way, but we're just letting you know how we look at things. You just never know. And the story is now, they're going to, people are going after them. They're accusing them of this, that, and the other thing, you can read up about it. Just so you know where it stands now, I believe they narrowed it down to about 400 people or so missing. And they, they, they narrowed it down to about 400 people or so missing. and they are now combing the waters as well as they have dogs sniffing around. Whatever you do, they're taking DNA of relatives of the missing. And again, just a big wow.

And I know the area and it's just stunning that the fires were contained, but I can almost understand why, because Lahaina is really a contained area. Just such a tragedy and, okay, what else did I want to go through before I go into the markets? I did have a couple more things, did I? Bud Light. I just want to let you know.

I'm hoping. that they get their act together. And I know there's some Ritey's already pissed off that people are starting to drink it again. Some people are just weird. You know why I want things to get better? So they can rehire all the people they had to get rid of because of how bad sales were. They are now finally getting their act together, putting on advertising tied to guess what? football, numbers up next. This is the one only investor's edge.

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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 Spreker 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 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.

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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. It comes highly recommended. You're going to feel better if you talk to him. As I was saying, I think the people over at Bud have figured out to their clientele.

I think a couple weeks ago they were advertising on WWE. And now they're sending out a bunch of advertisements based on football. fans tailgating. It's real hot out. Get out the cool and pull out the beer with some decent music behind the ads. And I hope it works out. And I hope they've learned the lesson. Without even taking a side, you need to take a side. Every company should use this.

Every company should use this to learn about know who your client is and don't get into politics and there's a simple reason why take a side and 50% of the people ain't going to do business with you anymore case closed

I hate them all so I don't pick any sides doesn't that mean I should lose everybody but I make sense when I say I hate them all anyway I hope they get it right as you know Target, I can't believe some of the stuff Target started to sell at their stores. I couldn't believe it. Again, without taking sides. No need to take sides. I say that based on one thing.

Do they know who their clients are? Moms and kids and families? Well, I think they learned the lesson. And Disney. I'm not so sure Disney learned their lesson yet. I'm reading they're going to get rid of the seven dwarfs and the snow white thing and snow white. They have this young girl and I mean some of the crap that's coming out of her mouth about the prince and this and that and the prince is a stalker. What? It's a story. If Disney wants to keep losing people, keep doing that. Keep doing that. Walt Disney is rolling over. Walt Disney is rolling over. I can say that sufficiently. Without taking aside.

I don't need to. Just go look at the stock price. Know your customer, everybody. Simple as that. Because if you don't, he ain't going to have a customer. Do you know how much, Bud lost gargantuan amounts.

Modello now, the number one. They are the number one beer. Overtaken Bud Light. We'll see how it plays out and we'll keep covering it. Just if you ain't learning from that, I don't know how you learn. Moving on. The market wrap is brought to you by Investment Dash Models. 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 was proprietary indicators. Go check it out. Investment dash models.com. Well, after what I consider to be one of the ugliest reversals that I have seen in many a moon, nice today. And it was all over the map, all over the map. Start up, down, up, down, looking to be in trouble, blah, blah, blah. But then all of a sudden by the end of the day, Dow up 247, I believe it lost 650 from the highs yesterday. S&P 29, NASDAQ 126 up, and NASDAQ was weak all day, finally came on.

I think it lost from the highs yesterday 400 and something. But advanced declines only 22 and change, 18 in change on the NASDAQ. much more new yearly lows than new yearly highs. And as I'm going through the NASDAQ here, just a bunch of bounces in a lot of things that are below moving averages at this point. So we're happy to see the bounce. We'd rather the markets go up than go down. What's not today? Financial's still weak.

Can't budge. housing on the weak side Jay Powell did his speech I don't even want to talk about them couldn't care less again they don't know what the hell they're doing anyhow so if I even just comment yeah I'm not even going to comment

blah blah blah 10 year yield finished up just a wee bit today oil up about a stick don't like seeing that just by the end of the day a better tone with a butt you know what that but is right a big butt volume's been heavy on the downside and when we rally up it's

been light what is volume it's the gas volume is the gas volume is the gas volume indicates conviction by the big money crowd and when we see a whole load a big volume down days and light volume up days, it's a little bit worrisome. NASDAQ today was lighter than yesterday. So was the S&P. And some of the things that bounce today, for example, Apple was on 11% less volume, Microsoft on 25% less volume, Tesla 16% less volume. Amazon 24% less volume, I can go on and on.

So the price volume, just less than thrilling. But we'll take the up day. Indices need to get back above the 50-day moving average. They're now below. But today's helpful in that, typically when you have a gargantuan reversal day like yesterday to the downside, you tend to get some follow-through. Didn't get follow-through today. We'll take it.

Did not get the follow-through. But I just did a ton of scanning already in advance of the weekend. Just fewer and fewer working. More and more breaking. By the way, the wrong way. If last Friday's lows get taken out, then bigger trouble. Simple as that Last Friday was a nice little reversal

So today goes a long way In helping because it never got back there We'll take it Yields did finish at 4.239 on the 10 year Two years now above 5%. So ladies and gentlemen Riskless Income Investments I had a client called me up

Been with me a while done very well. Elderly. Gary. Love you. God bless you. I just want to take my money and put it in T-bills. I said, best of luck.

Call me any time. Can't argue. Elderly want to sleep at night. Why deal with this crap? It's going to get 5.4% for one year or a little over 5 for a two year. Cool. I turned down several accounts in the last few weeks. Just for that.

You can tell when somebody's nervous, calling me up, thinking of coming with you. What was the last time in your market? Well, I've been in the market in a long time. Well, why are you in the market? Why do you want to get in the market? Do you know you can get five points? I can get five points. They didn't even know.

Turn them away. Just remember. We had zero percent interest rates. We're getting nothing on our money because of that misery. Mr. Bubble. We get nothing on our money. Now, he's not controlling with fake money conjured up out of thin air. So the bond market's on its own, which is good.

Up next, this, that, and the other thing, or whatever else. Thanks for being here. I'm Gary. This is the one only investor's edge. This message is brought to you by the Capital One Venture, 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, 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, in 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. 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.

You're listening to. What are we waiting for? Well, what are you waiting for? One, two, ready, go. Action! In the guesters' head. with Gary Culper. And welcome once again to Investors Edge.

But-da-na... In the news, Robotaxies facing challenges now amid expansion in San Francisco. Do you know why? Accidents.

Another one got stuck in wet concrete. They've decided to cut the vehicles fleet size in half. And I'm asking myself a question. and those of you that are smart in me, please email me an answer. Why do we need robotaxies? Why do we need a taxi without a driver? Somebody want to explain that to me?

Why would you take a job away from a driver? What does that do for anybody by having a robotaxie? Seriously, I got to believe you've got to have a lot more insurance, so why not get the driver? I got it. Well, you got these accidents already. And I saw, they did a reporter in one of them, and she's sitting there and she looks so relaxed. I wouldn't be relaxed. So I don't know.

Already they're starting to shuts them down in some of the cities. I don't get it. Maybe it's me. Beats the heck out of me. Hey, in the news, well, we warned you. and we just want to bring it up again. NFTs. What did we tell you?

We told you it was BS. No, of course it was. Well, investors who purchased something called the BORD ape yacht club NFTs at highly inflated prices during the NFT craze in 21 have filed a lawsuit against Sotheby's auction house and now other defendants, some athletes and some celebrities.

First off, I'm sorry, if you decided to spend a half million bucks on an NFT, you're an idiot. I shouldn't say that. You're not smart. How's that? That's number one. Number two, as we told you, we told you so. It's just the outcome of bubbles, you know? and I read like the first

NFT somewhere somebody did something for $2.5 million and then try to put it up for sale and like somebody offered $100 of course there's nothing there I'll tell you where I think

the biggest bubble is right now but I think I said it five years ago so I've been wrong do you see what they're paying for sports memorabilia holy smoke Do you know, I got some old baseball cards. I'm going to rummage through it.

You know, I have a Pokemon card that I'm told is worth 10 to 12,000 bucks. I haven't yet sold it. And it's in one of those cases, so it's in good shape. I think I may have to put it up. It's just so weird to me that it would be worth 10 to 12, but screw that. There are some Michael Jordan sneakers and this, that. I mean, the thing's going for millions. and millions of dollars.

They don't produce anything. They don't help it. But people just keep bidding them up. I'm waiting for the time where they bid them down. And I got to tell you, it has not happened. It has not happened. Absolute stunning. And in the news, I'm going to pass on the next one.

I'm going to leave it B. Yeah, I'll leave it be. you know it was going to be about. So, going into next week, end of month, window dressing, which is illegal, so it does not happen. Anyway, very rough day yesterday after starting off the week pretty decently. I'm actually surprised today we were able to bounce the way we did. Then again, when all said and done, I don't get too surprised about anything these days. what I will tell you is this.

There's hardly any new yearly highs. There's hardly any breakouts. Anything that try to break out in recent weeks has failed. And the market's going to have to get much, much better. The big couple of things that stick out for me again, you've had a lot of blowups, a lot of breakdowns. Volume has been heavy on the downside. The down days of that heavy volume.

volume, the up days lighter volume, and it looks like inclusive of today. That is a dynamic that has to change. That is a dynamic that has to change. These are the characteristics we're always looking at, watching for why, as we tell you, what we do here is we look in a photo album for familiar faces. What's the norm? What is history shows? What is history shows? well, high volume drops and low volume bounces don't usually work out well. So just something we're keeping up front. If we don't break the lows of last Friday, the market gets a chance, but until the indices get back above the 50-day moving average,

it will be rough going. And right now we're sitting below, and it's been about two weeks we're below now. if that changes will let you know if things start the hum will let you know your job is to be looking at the new yearly high list you can find it in a bunch of places each night and see what's doing see why see if there's a bunch of a certain sector and take it from there. We're also going to be watching great reaction to earnings. Now, I will tell you this, we've seen some great reaction to earnings in some names that just completely turned away. Amazon gaps up, sells off. Only thing Amazon gut going for it right now, it's holding the 50-day moving average. If it continues to hold, gets a chance. What we want to see

is great reactions and going. Envidia is the opposite. Nvidia, monstrous news, monstrous earnings report, monstrous sales, monstrous guidance, opens at 503, closes at 472, and today 460. Telling. Anyway, you all have a great weekend.

Drive carefully when you get home to like we do. Quite simple. Make sure you hug your feet. family, you hug your children, they'll feel better, you'll feel better. Have a great one again, everybody. Thanks for joining. Peace out. 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. 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.