TV ICON DICK CLARK PASSES AWAY

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Dick Clark, the music industry maverick, longtime TV host and powerhouse producer who changed the way we listened to pop music with “American Bandstand,” and whose trademark “Rockin’ Eve” became a fixture of New Year’s celebrations, died today at the age of 82.

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SOURCE: http://abcnews.go.com/Entertainment/dick-clark-entertainment-icon-nicknamed-americas-oldest-teenager/story?id=16076252

WHO’S WATCHING THE BANKS?

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Banks are complicated, and especially in this age of too-big-to-fail, they often house a number of thorny practices under one roof – practices that, as we learned the hard way in the fall of 2008, can be difficult to regulate.

Click here to see the convoluted system that has evolved.

SOURCE: http://www.thefiscaltimes.com

04/17/2012: GARY ON NATIONALLY SYNDICATED INVESTORS EDGE RADIO BROADCAST

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http://archives.warpradio.com/btr/InvestorsEdge/041718.mp3

JUST LETTING YOU KNOW

We had a very strong day today, price-wise. But volume wasn’t up to snuff. Volume on the NYSE was rather light. Volume on the Nasdaq was a little lighter than yesterday.

But the most important thing that happened today:

  1. Nasdaq
  2. Nasdaq-100
  3. Transports
  4. Financials
  5. Retail

…all held their 10-week/50-day moving averages on the recent pullback. I leave it at that. That is key. That is vital. You know my thought process. As long as major averages are staying above that line…GOOD.

Go look at Apple. It was down 7 early…572. It closed at 609, up almost 30. Go look where it hit. Go look where the Nasdaq, the Nasdaq-100, and the Transports hit. Go look at the XRT. Go look at the RTH. All of these tagged (on a daily chart) the 50-day Moving Average and that’s what’s supposed to happen.

Charts courtesy of StockCharts.com

So it was a very good day. We don’t want to worry about why. While the chink in the armor is the volume, BUT most leading growth names held support.

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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.

 

BABA BOOEY!

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APRIL 17–In a stinging legal rebuke, a New York judge has dismissed a lawsuit brought by Howard Stern against SiriusXM and, in the process, revealed that the radio host had been seeking a whopping $300 million in stock awards he claimed were owed as part of his employment contract with the satellite radio firm.

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SOURCE: http://www.thesmokinggun.com

REWARDING FAILURE…JUST CLASSIC!

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(CNSNews.com) – A bankruptcy court ordered $368,500 in bonuses for 20 top managers and employees of Solyndra, the solar panel firm that received $535 million from taxpayers two years before filing for bankruptcy and laying off 11,000 employees. The bonuses kicked in on March 31.

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SOURCE: http://cnsnews.com

CHART OF THE DAY

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THIS IS A GREAT CHART!

Source: Bianco Research L.L.C.
Charts Of The Week, April 11, 2012

HOPE AND CHANGE…

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 “George Bush felt it was appropriate to release the names of his bundlers. John McCain did. But not Mitt Romney. Why did George Bush and John McCain release multiple years of tax returns, but not Mitt Romney? Why did Mitt Romney leave Massachusetts government with the hard drives from his computers, and why did his senior aides leave with the hard drives from their computers? Why won’t he be more forthcoming about some of these offshore investments?

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SOURCE: http://www.nationalreview.com

04/16/2012: GARY ON NATIONALLY SYNDICATED INVESTORS EDGE RADIO BROADCAST

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http://archives.warpradio.com/btr/InvestorsEdge/041618.mp3

JUST LETTING YOU KNOW

I’m a husband and father first before anything else. I care about the future of this country and I’m very good at reading numbers.

I bring this up because I found out that Tim Geithner, who is our Treasury Secretary, was going to be on all these Sunday morning show – at least on ABC, CBS and NBC and he was being asked all these questions about the state of the economy and all that stuff.

Let me just say this to you. It was nothing more than a lie and joke that this man perpetrated on you good American’s out there. They think you’re idiots. They think you’re stupid.

I am no George Bush fan when it comes to these deficits. He started us on the track that we’re on. He added over $5 trillion to the deficits over eight years.

Yet this president (Obama) has added $5.5 trillion in three years.

I listed to Tim Geithner yesterday say:

  1. We’ve done nothing wrong and this is all on George Bush. I’m not making this up. This is what he said. It actually nauseates me to even go over this.
  2. He also said the President Obama proposes taking debt from 9% of GDP to 3% of GDP…just an absolute unmitigated lie.
  3. He blamed Republicans for stopping legislation on the debt. Another lie. In fact, the party in power and the presidency had the House and Senate and the Whitehouse for two whole years. I call it unfettered.
  4. And then Timmy went on this weird statement, saying that the overall cost of energy has come down.

But I don’t blame Tim Geithner. He works for the president and has got to carry the party line.

What I’ve got a bigger problem with, is the questions. I heard a couple questions about the debt. And Geithner mentioned that it “Wasn’t us. It was Bush.”

And I was waiting for the next question – a follow up like: “Secretary Geithner, who are you trying to kid? What is the statute of limitations when you take responsibility for the debt?”

And, by the way, Geithner wasn’t so upset about the debt we have.

So we have Treasury Secretary and a Federal Reserve Chairman that tell us that they care about the debt and do absolutely nothing about it. In fact, they do just the opposite and just add to our debt.

“Government is a trust and the officers of the government are trustees. And both the trust and the trustees are created for the benefit of the people.” That’s a quote from Henry Clay. Go look up who he is.

These are not trustees and they do not inspire any trust. I just wanted to let you know what I watched. And again, I blame the “lapdog suppine paws in the air tail wagging media” that only gives the hard questions to people they don’t like…and gives a pass to everybody that they do like.

Let me give you some facts, ladies and gentlemen:

This government only takes in $2 Trillion a year. Obama took spending from about $2.8 Trillion to about $3.8 Trillion.

Under Barack Obama’s proposals, by the year 2022, Federal spending will be about $5.8 Trillion a year.

I’m not making this up. This adds $9.6 Trillion to the deficit over the next decade.

But Geithner says they don’t have anything to do with the debt – it’s all Bush’s fault.

At the bottom of the article I posted on GaryK.com about Geihther, I said that I hope I’m completely wrong about this.

But I must tell you they’re taunting markets. You see they can get away with it when the market’s going up. Nothing’s ever wrong unless the market’s going down. That’s the way it is. And, of course, they’ll just blame others.

I’m only deal with numbers here. I have no bias. I’m neither party. I’m in the logic party. 

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.

 

THE BIG….GET BIGGER!

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Two years after President Barack Obama vowed to eliminate the danger of financial institutions becoming “too big to fail,” the nation’s largest banks are bigger than they were before the credit crisis.

Five banks — JPMorgan Chase & Co. (JPM), Bank of America Corp., Citigroup Inc., Wells Fargo & Co., and Goldman Sachs Group Inc. — held $8.5 trillion in assets at the end of 2011, equal to 56 percent of the U.S. economy, according to the Federal Reserve.

Five years earlier, before the financial crisis, the largest banks’ assets amounted to 43 percent of U.S. output. The Big Five today are about twice as large as they were a decade ago relative to the economy, sparking concern that trouble at a major bank would rock the financial system and force the government to step in as it did during the 2008 crunch.

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SOURCE: http://www.zerohedge.com

DETERIORATION, INTERVENTION AND DETERIORATION

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Market remains in corrective mode. Last week’s report was titled “DETERIORATION!” Until the Fed intervened, the market was getting in more trouble. How did they intervene? They sent three fedheads out to tell everyone that more QE is on the table, leading to Thursday’s sharp move. But that didn’t last long. You see, the fed now thinks they can move markets just by yapping. Maybe in the short run…not so sure after that.

The deterioration simply means the tailwinds are gone…and headwinds have appeared. It means it gets tougher to make money on the long side. It means there are fewer set-ups on the long side. It means you continue to keep a list of those stocks that refuse to buckle while the market corrects. Those that hold up or even go higher…are your strength…but I warn…in corrections, you never know what will be hit. Even the almighty Apple was sold off this week.

As far as corrections go…I HAVE NO IDEA HOW LONG ONE WILL LAST OR HOW FAR IT GOES. They can last days, weeks or months. It is in the actual action where we figure that out.

Picking it apart, we are now seeing just about every major index rally up into the 10 week/50 day moving average and selling off. This is not good news. As of this second, we are seeing it in the dow, russell,small cap 600, nyse, midcap 400, the sox, industrials, materials and others. It is never good when things trade below this all-important area.

On top of this, Europe continues to act horrid as Germany, France and the U.K. break below support.

The better areas are no great shakes as the S&P is now wedging at the 50 day with the nasdaq and ndx still above…but I warn you, a lot of the nasdaq has been the aapl…

So…I would continue to be cautious here. There is no reason to play just for the sake of playing. Fewer and fewer things are working. We need to let this run its course. If I had to guess, I highly doubt we get a bear as the election year will take precedent as the corrupt politicians will continue to spend and print money in order to prop things up. I do believe we can go lower and will be watching this past week’s lows. A break below will take you down to the next level of support which is a good few percent lower. If the financialsf break down out of the bad patterns they are in, it would be a lock.

Now…that all said…a couple thousand reports come out in the next 3 weeks so a lot of playing fields will change. Stay tuned.

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.