11/18/2011: GARY ON NATIONALLY SYNDICATED INVESTORS EDGE RADIO BROADCAST

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http://archives.warpradio.com/btr/InvestorsEdge/111818.mp3

JUST LETTING YOU KNOW…

“…With 4% gaps to the upside, 4% gaps to the downside, reversals, news coming out of Europe, the Super Committee (I have a better name that I can’t mention on radio…the market is eventually going to tips its hands…”

“…We’ve had some stats to go by….10 of the 10 years AND 22 out of the past 24 years…the markets have been up from Veterans Day until the end the year…

“…In the past week or so, I said that 1250 to 1280 is going to be a high…We’re still in that area. We closed today at 1215. So far that “a high” is coming to fruition…”

“…A rough week, distribution in the markets, professionals selling, high volume selling, it all started in that 1250 1280 area. I’m going by the thought process that it’s a high…Even if we rally here, I’m not so sure we get past that…”

I’M THINKING…

  • “…all the past leaders are carving out major of major league tops…”
  • “…More names are really worrying me…..I’m been talking to you about Apple and Amazon, BIDU, Green Mountain Coffee, Netflix…”
  • “…If there was one indicator that is above all…it’s how are big growth leaders doing…?”
  • “…This week the semis put in a decent top…”
  • “…Nasdaq and Nasdaq 100 broke below the 50 day moving average…”

Just letting you know…you probably want to be a little wary here.

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Gary Kaltbaum owns Kaltbaum Capital Management, LLC (“KCM”), an investment adviser registered with the U.S. Securities and Exchange Commission. The opinions expressed herein are those of Mr. Kaltbaum and may not reflect those of KCM. The information offered in this publication is general information that does not take into account the individual circumstances, financial situation or individual needs of an investor. The information herein has been obtained from sources believed to be reliable, but we cannot assure its accuracy or completeness. Neither the information nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Any reference to past performance is not to be implied or construed as a guarantee of future results.

 

11/17/2011: GARY ON NATIONALLY SYNDICATED INVESTORS EDGE RADIO BROADCAST

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http://archives.warpradio.com/btr/InvestorsEdge/111718.mp3

JUST LETTING YOU KNOW…

“…Today may stand out. Many things of note…”

“…Broke out of triangle to the downside…two not so good days in a row…Today, had massive volume selling and THE OVERALL MARKET WAS MUCH WORSE THAN THE DOW…”

“…For the second, it looks like we are breaking down..but I don’t trust what happens from day to day…”

“…I told you around Oct 31st, I thought 1250 to 1280 could be a high…We rallied up on Nov 8 to 1275 at the close. It turns out that 1250 to 1280 is a high right now…”

“…I have been talking about hopeful seasonal strength…Last 10 out 10 years (and last 22 our of 24 years) market has been up from Veterans Day until the end of the year…”

“…I gotta tell you…bad action in a lot of areas…financials anchoring the market — wasting away…Philadelphia Semiconductor Index back down the 50-day MA….390 to 398 may be a high in the semis

“…we’ll see what happens tomorrow…”

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Gary Kaltbaum owns Kaltbaum Capital Management, LLC (“KCM”), an investment adviser registered with the U.S. Securities and Exchange Commission. The opinions expressed herein are those of Mr. Kaltbaum and may not reflect those of KCM. The information offered in this publication is general information that does not take into account the individual circumstances, financial situation or individual needs of an investor. The information herein has been obtained from sources believed to be reliable, but we cannot assure its accuracy or completeness. Neither the information nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Any reference to past performance is not to be implied or construed as a guarantee of future results.

I JUST READ THIS WITH MY MOUTH AGAPE!

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BCM Has Ceased Operations

Posted by Ann Barnhardt – November 17, AD 2011 10:27 AM MST

Dear Clients, Industry Colleagues and Friends of Barnhardt Capital Management,

It is with regret and unflinching moral certainty that I announce that Barnhardt Capital Management has ceased operations. After six years of operating as an independent introducing brokerage, and eight years of employment as a broker before that, I found myself, this morning, for the first time since I was 20 years old, watching the futures and options markets open not as a participant, but as a mere spectator.

The reason for my decision to pull the plug was excruciatingly simple: I could no longer tell my clients that their monies and positions were safe in the futures and options markets – because they are not. And this goes not just for my clients, but for every futures and options account in the United States. The entire system has been utterly destroyed by the MF Global collapse. Given this sad reality, I could not in good conscience take one more step as a commodity broker, soliciting trades that I knew were unsafe or holding funds that I knew to be in jeopardy.

The futures markets are very highly-leveraged and thus require an exceptionally firm base upon which to function. That base was the sacrosanct segregation of customer funds from clearing firm capital, with additional emergency financial backing provided by the exchanges themselves. Up until a few weeks ago, that base existed, and had worked flawlessly. Firms came and went, with some imploding in spectacular fashion. Whenever a firm failure happened, the customer funds were intact and the exchanges would step in to backstop everything and keep customers 100% liquid – even as their clearing firm collapsed and was quickly replaced by another firm within the system.

Everything changed just a few short weeks ago. A firm, led by a crony of the Obama regime, stole all of the non-margined cash held by customers of his firm. Let’s not sugar-coat this or make this crime seem “complex” and “abstract” by drowning ourselves in six-dollar words and uber-technical jargon. Jon Corzine STOLE the customer cash at MF Global. Knowing Jon Corzine, and knowing the abject lawlessness and contempt for humanity of the Marxist Obama regime and its cronies, this is not really a surprise. What was a surprise was the reaction of the exchanges and regulators. Their reaction has been to take a bad situation and make it orders of magnitude worse. Specifically, they froze customers out of their accounts WHILE THE MARKETS CONTINUED TO TRADE, refusing to even allow them to liquidate. This is unfathomable. The risk exposure precedent that has been set is completely intolerable and has destroyed the entire industry paradigm. No informed person can continue to engage these markets, and no moral person can continue to broker or facilitate customer engagement in what is now a massive game of Russian Roulette.

I have learned over the last week that MF Global is almost certainly the mere tip of the iceberg. There is massive industry-wide exposure to European sovereign junk debt. While other firms may not be as heavily leveraged as Corzine had MFG leveraged, and it is now thought that MFG’s leverage may have been in excess of 100:1, they are still suicidally leveraged and will likely stand massive, unmeetable collateral calls in the coming days and weeks as Europe inevitably collapses. I now suspect that the reason the Chicago Mercantile Exchange did not immediately step in to backstop the MFG implosion was because they knew and know that if they backstopped MFG, they would then be expected to backstop all of the other firms in the system when the failures began to cascade – and there simply isn’t that much money in the entire system. In short, the problem is a SYSTEMIC problem, not merely isolated to one firm.

Perhaps the most ominous dynamic that I have yet heard of in regards to this mess is that of the risk of potential CLAWBACK actions. For those who do not know, “clawback” is the process by which a bankruptcy trustee is legally permitted to re-seize assets that left a bankrupt entity in the time period immediately preceding the entity’s collapse. So, using the MF Global customers as an example, any funds that were withdrawn from MFG accounts in the run-up to the collapse, either because of suspicions the customer may have had about MFG from, say, watching the company’s bond yields rise sharply, or from purely organic day-to-day withdrawls, the bankruptcy trustee COULD initiate action to “clawback” those funds. As a hedge broker, this makes my blood run cold. Generally, as the markets move in favor of a hedge position and equity builds in a client’s account, that excess equity is sent back to the customer who then uses that equity to offset cash market transactions OR to pay down a revolving line of credit. Even the possibility that a customer could be penalized and additionally raped AGAIN via a clawback action after already having their customer funds stolen is simply villainous. While there has been no open indication of clawback actions being initiated by the MF Global trustee, I have been told that it is a possibility.

And so, to the very unpleasant crux of the matter. The futures and options markets are no longer viable. It is my recommendation that ALL customers withdraw from all of the markets as soon as possible so that they have the best chance of protecting themselves and their equity. The system is no longer functioning with integrity and is suicidally risk-laden. The rule of law is non-existent, instead replaced with godless, criminal political cronyism.

Remember, derivatives contracts are NOT NECESSARY in the commodities markets. The cash commodity itself is the underlying reality and is not dependent on the futures or options markets. Many people seem to have gotten that backwards over the past decades. From Abel the animal husbandman up until the year 1964, there were no cattle futures contracts at all, and no options contracts until 1984, and yet the cash cattle markets got along just fine.

Finally, I will not, under any circumstance, consider reforming and re-opening Barnhardt Capital Management, or any other iteration of a brokerage business, until Barack Obama has been removed from office AND the government of the United States has been sufficiently reformed and repopulated so as to engender my total and complete confidence in the government, its adherence to and enforcement of the rule of law, and in its competent and just regulatory oversight of any commodities markets that may reform. So long as the government remains criminal, it would serve no purpose whatsoever to attempt to rebuild the futures industry or my firm, because in a lawless environment, the same thievery and fraud would simply happen again, and the criminals would go unpunished, sheltered by the criminal oligarchy.

To my clients, who literally TO THE MAN agreed with my assessment of the situation, and were relieved to be exiting the markets, and many whom I now suspect stayed in the markets as long as they did only out of personal loyalty to me, I can only say thank you for the honor and pleasure of serving you over these last years, with some of my clients having been with me for over twelve years. I will continue to blog at Barnhardt.biz, which will be subtly re-skinned soon, and will continue my cattle marketing consultation business. I will still be here in the office, answering my phones, with the same phone numbers. Alas, my retirement came a few years earlier than I had anticipated, but there was no possible way to continue given the inevitability of the collapse of the global financial markets, the overthrow of our government, and the resulting collapse in the rule of law.

As for me, I can only echo the words of David:

“This is the Lord’s doing; and it is wonderful in our eyes.”

With Best Regards-
Ann Barnhardt

SOURCE: http://www.zerohedge.com/

NO FAIR. I PAID MORE TAXES THAN THESE GUYS!

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General Electric, one of the largest corporations in America, filed a whopping 57,000-page federal tax return earlier this year but didn’t pay taxes on $14 billion in profits. The return, which was filed electronically, would have been 19 feet high if printed out and stacked.

The fact that GE paid no taxes in 2010 was widely reported earlier this year, but the size of its tax return first came to light when House budget committee chairman Paul Ryan (R, Wisc.) made the case for corporate tax reform at a recent townhall meeting. “GE was able to utilize all of these various loopholes, all of these various deductions–it’s legal,” Ryan said. Nine billion dollars of GE’s profits came overseas, outside the jurisdiction of U.S. tax law. GE wasn’t taxed on $5 billion in U.S. profits because it utilized numerous deductions and tax credits, including tax breaks for investments in low-income housing, green energy, research and development, as well as depreciation of property.

Continued

SOURCE: http://www.weeklystandard.com

TRIANGLE SOUTH

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The triangle pattern, which had tightened up in the past few days, is now resolving itself to the downside. This is occurring as the all-important semiconductor index looks to be topping. Many past growth leaders look to be completing major tops including the likes of Apple, Bidu, Amazon, Priceline and others. the financials continue to lead down…and in a very bad way. Lastly, the NDX has sliced through the 50 day moving average with the Nasdaq right behind.

I WILL HAVE MUCH MORE IN A BIGGER REPORT TONIGHT AS THE STRONG SEASONALITY AIN’T HAPPENING.

 

Gary Kaltbaum owns Kaltbaum Capital Management, LLC (“KCM”), an investment adviser registered with the U.S. Securities and Exchange Commission. The opinions expressed herein are those of Mr. Kaltbaum and may not reflect those of KCM. The information offered in this publication is general information that does not take into account the individual circumstances, financial situation or individual needs of an investor. The information herein has been obtained from sources believed to be reliable, but we cannot assure its accuracy or completeness. Neither the information nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Any reference to past performance is not to be implied or construed as a guarantee of future results.

WHO’S GETTING ALL THE MONEY? I CANNOT WAIT TO READ THIS BOOK!

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President John F. Kennedy’s nephew, Robert Kennedy, Jr., netted a $1.4 billion bailout for his company, BrightSource, through a loan guarantee issued by a former employee-turned Department of Energy official.

It’s just one more in a string of eye-opening revelations by investigative journalist and Breitbart editor Peter Schweizer in his explosive new book, Throw Them All Out.

Continued

SOURCE: http://biggovernment.com

11/16/2011: GARY ON NATIONALLY SYNDICATED INVESTORS EDGE RADIO BROADCAST

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http://archives.warpradio.com/btr/InvestorsEdge/111618.mp3

LISTEN TO GARY LIVE ON WEEKDAYS
6-7 pm EST

Best of Investor’s Edge
Saturdays 1-2 am EST

 

Gary Kaltbaum owns Kaltbaum Capital Management, LLC (“KCM”), an investment adviser registered with the U.S. Securities and Exchange Commission. The opinions expressed herein are those of Mr. Kaltbaum and may not reflect those of KCM. The information offered in this publication is general information that does not take into account the individual circumstances, financial situation or individual needs of an investor. The information herein has been obtained from sources believed to be reliable, but we cannot assure its accuracy or completeness. Neither the information nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Any reference to past performance is not to be implied or construed as a guarantee of future results.

THEY HAVE BEEN CALLING THIS A SUCCESS…

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ONLY IN WASHINGTON, DO THEY CALL SOMETHING LIKE THIS A SUCCESS

U.S. boosts estimate of auto bailout losses to $23.6B

The Treasury Department dramatically boosted its estimate of losses from its $85 billion auto industry bailout by more than $9 billion in the face of General Motors Co.’s steep stock decline.

In its monthly report to Congress, the Treasury Department now says it expects to lose $23.6 billion, up from its previous estimate of $14.33 billion.

The Treasury now pegs the cost of the bailout of GM, Chrysler Group LLC and the auto finance companies at $79.6 billion. It no longer includes $5 billion it set aside to guarantee payments to auto suppliers in 2009.

The big increase is a reflection of the sharp decline in the value of GM’s share price.

The current estimate of losses is based on GM’s Sept. 30 closing price of $20.18, down one-third over the previous quarterly price.

Continued

Source: http://detnews.com/article/20111114/AUTO01/111140434/U.S.-boosts-estimate-of-auto-bailout-losses-to-$23.6B#ixzz1dtwmxkC4

 

11/15/2011: GARY ON NATIONALLY SYNDICATED INVESTORS EDGE RADIO BROADCAST

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http://archives.warpradio.com/btr/InvestorsEdge/111518.mp3

JUST LETTING YOU KNOW…

“...Isn’t amazing that we can sit here and read an article entitled “Lawmakers Mull Making Insider Trading Illegal for Congress...”

“…EVERY ONE OF YOU SHOULD BE WRITING A LETTER, AND SENDING EMAILS AND CALLING INTO WASHINGTON FOR THEM TO BE ON THE SAME FREAK’IN PAGE AS US!…”

“…A few things are starting to stick out for me…”

“…Even though the Dow was up 17, the market was much better than that…”

“…The Russell 2000 was up the equivalent of about 140 Dow Points…”

“…The SEMIs and some growth names were strong…”

“…PLUS, we’re setting up a triangle…”

“…The volatility is heavy in the beginning. It keeps decreasing to the point in the triangle where the market is going to make a move out of the triangle either to the downside or upside…”

“…We’re a day or two away…it’s going to move one way or another…”

“…On top of this — the seasonality of the market…”

“…IN THE LAST 10 YEARS FROM VETERANS DAY TO THE END OF THE YEAR, THE MARKET HAS BEEN UP…”

LISTEN TO GARY LIVE ON WEEKDAYS
6-7 pm EST

Best of Investor’s Edge
Saturdays 1-2 am EST

 

Gary Kaltbaum owns Kaltbaum Capital Management, LLC (“KCM”), an investment adviser registered with the U.S. Securities and Exchange Commission. The opinions expressed herein are those of Mr. Kaltbaum and may not reflect those of KCM. The information offered in this publication is general information that does not take into account the individual circumstances, financial situation or individual needs of an investor. The information herein has been obtained from sources believed to be reliable, but we cannot assure its accuracy or completeness. Neither the information nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Any reference to past performance is not to be implied or construed as a guarantee of future results.

I DIDN’T BELIEVE THIS CHART WHEN I SAW IT! I MAY HAVE TO TAKE A FEW MONTHS OFF EVERY YEAR

11 SEASONAL SP500

Source:InvesTech Research, October 21, 2011

Technical and Monetary Investment Analysis, Vol11 Issue 11