YOU MEAN VOTER FRAUD IS A BAD THING?

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Patrick Moran, the son of Virginia Rep. Jim Moran (D-Va.) and the field director for his father’s reelection bid, resigned abruptly Wednesday after a video linked him to voter fraud. 

The video — released earlier in the day by Project Veritas, a conservative organization headed by the Republican activist James O’Keefe — revealed that the younger Moran had weighed options for helping an undercover operative cast votes on behalf of 100 people who allegedly weren’t planning to vote.

Continued

SOURCE: http://thehill.com

I HEAR COMEDY CENTRAL OR NICKELODEON LOOKING FOR SOMEONE!

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Less than a year after being dismissed from Current TV, Keith Olbermann has his eye on getting another on-air gig, according to a report from Forbes. He’s reportedly considering cable and broadcast alike.

Continued

SOURCE: http://www.mediaite.com

NO…THEY OVERCHARGED TAXPAYERS…NOT THE FEDS!

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Give ’em an inch, and they’ll take a mile.

That appears to be the case in Chicago, where for decades the Transit Authority has been misreporting the mileage for its bus routes, thereby boosting the amount of federal taxpayer subsidies by as much as $150 million — and now, it seems, with Uncle Sam’s blessing.

Continued

SOURCE: http://www.foxnews.com

YOU MEAN $5-6 TRILLION ISN’T MESSY ENOUGH?

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Q: Great. Mr. President, we know that John Boehner and the House Republicans have not been easy to work with, and certainly you’ve had some obstacles in the Senate, even though it’s been controlled by the Democrats. At the time, whenever — we talked a lot about, in 2008, hope and change. I’m curious about what you see your role is in terms of changing the tone and the perception that Washington is broken. But particularly, sir, if you were granted a second term, how do you implode this partisan gridlock that has gripped Washington and Congress and basically our entire political structure right now?

THE PRESIDENT: Well, Rick, let me answer you short term and long term. In the short term, the good news is that there’s going to be a forcing mechanism to deal with what is the central ideological argument in Washington right now, and that is: How much government do we have and how do we pay for it?

So when you combine the Bush tax cuts expiring, the sequester in place, the commitment of both myself and my opponent — at least Governor Romney claims that he wants to reduce the deficit — but we’re going to be in a position where I believe in the first six months we are going to solve that big piece of business.

It will probably be messy. It won’t be pleasant. But I am absolutely confident that we can get what is the equivalent of the grand bargain that essentially I’ve been offering to the Republicans for a very long time, which is $2.50 worth of cuts for every dollar in spendi

Continued

SOURCE: http://hotair.com

 

kaltbaum premarket

An open today to screw the shorts.
 
I play this market by the book right now. If the market stays up today…it would be day 1 of an attempted rally and would look for a follow through day starting Tuesday. Otherwise, best to play lightly. A few hundred earnings reports coming out today with AAPL and AMZN leading after close.
 
Gaps to upside this morning are SWI…past leader…DDD,RYL,WYNN,BIIB…which is still under 50 day and a few smaller ones. Gapping down are UA…which should take it below 50 day again, SWI…which is still on leader’s list. They lowered…but they also lowered last time and the stock reversed up. FFIV,CROX,TSCO and a few others gapping down.
 
So market has a chance again today to show some strength. Any strength was sold yesterday…at least for the most part. Since we are entering end of month, I gather we shall see some upside in here..

kaltbaum email

During these times, I try not to confuse the issue and write too much. The bottom line is that the market is in a good corrective phase with a lot of blow-ups during earnings season…which in the past, has never been a good sign. So we sit back…keep our wits about us and relax…while most others are getting wacked.
 
I do want to short but we short into bounces…and we will get one. Market had a chance to bounce today and couldn’t even hold a small bounce. We may just get one soon as we head into month-end. Tomorrow is AAPL and AMZN…going to get interesting if one or both blow up.

10/24/2012: GARY ON NATIONALLY SYNDICATED INVESTORS EDGE RADIO BROADCAST

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http://archives.warpradio.com/btr/InvestorsEdge/102218.mp3

JUST LETTING YOU KNOW

The Market Continues to Act Quite Poorly

To recap, the Nasdaq broke the 10-week/50-day moving average.

Dow and S&P which held up better, pulled back in to the 50-day moving average. We got a rally. But the Nasdaq only rallied up into it and failed. The Dow and S&P rallied up into the highs and failed as there was a huge negative divergence up there between new highs and price, amongst other things. Now the Dow and S&P have given way.

More and more stocks…and more and more sectors are breaking down. And if you watched me on Fox Business Network yesterday, I simply stated something is not right when we have the massive amount of blow-ups in individual stocks that we are seeing.

And it’s funny because my buddy at Hornstein who I’ve had on my show, out of nowhere, contacted me today and said, “Let me be crystal clear, you don’t get this many blow-ups from leading stocks and regular stocks if the market was just correcting.

Well, he may be right.

A lot more blow-up in today’s market. A lot more companies guiding lower going forward.

Now, we’re not out of earnings season yet and tomorrow after the close, two stocks will have an effect on the Nasdaq, both Apple and Amazon.

Beats the heck out of me what each are going to say, what they’re going to report and how the stock is going to react.

All I know is that now they are both under serious pressure, as well the whole host of things. 

LISTEN TO GARY LIVE ON WEEKDAYS 6-7 PM ON A STATION NEAR YOU AND AT GARYK.COM

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.

KALTBAUM PREMARKET

First off:
 
AMGN,FB,GILD,PNRA,SLAB,LL,REGN,SAP are gapping up. There are a few other mini-gaps.
 
NFLX,NSC,BWLD,LO,TPX,KMT,IRBT and a few others are gapping down.
 
Market gapping up a wee bit as foreign markets continue to have better r/s. At this point, I play it by the book…we wait for a follow through day…and that cannot happen until Monday…and that is only if we have an up day today. The FED does announce another “decision” today. Blah blah blah.
 
I have been bearish on FB since day 1. It is up $5 on the open even though earnings were up a big fat 0%. Market is liking their mobile number. I have no bias except what is in front of me. Today’s action puts FB on my screen for the first time since going public…stay tuned.
 
Otherwise, expect some upside here especially with the nasdaq down to the 200 day average where it is normal to hold the first time it hits. It will be vital that it ultimately holds.
 
AAPL and AMZN report tomorrow. AMZN estimate is for another loss…which probably means it is up big. AAPL sandbagged the number again. At least, they had better have sandbagged.
 
KORS still acting fine…and would not be a seller until the 50 day is taken out with volume.
 
 

kaltbaum email

The only thing to say is things are near term oversold…and due to bounce…but doubt the bounce goes anywhere. Fortunately, KORS not budging…and maybe it gets out on a decent up day.
 
Besides that…sit, relax, do nothing…and keep the pressure off.

10/23/2012: GARY ON NATIONALLY SYNDICATED INVESTORS EDGE RADIO BROADCAST

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http://archives.warpradio.com/btr/InvestorsEdge/102318.mp3

JUST LETTING YOU KNOW

The Correction Deepening

When we discuss with you how things typically happen, it is based on the sum of all the parts of how bull phases and bear phases work, how tops and bottoms usually form and so on.

And really the most important thing I have told you in the recent past was that the Nasdaq was leading down and how the Nasdaq is the leading index, both up and down. It was something that had to be watched.

You combine that with the other part of the equation and that is that Leading Growth Names that had been leading the market are getting slaughtered.

And that’s what we’re getting here.

On top of this, in recent weeks I have told you that expectations of earnings and sales growth for this quarter year-over-year – were not very good. But I basically gave you both sides of the coin.

  1. Maybe the fact that expectations are low will help things if companies beat and down guide down OR
  2. We just croak.

We’re getting some of the croak. And ladies and gentlemen, it is based on…for me…the most impactful part of the equation and that is, earnings and revenue growth and guidance going forward.

We are getting some serious nauseating guidance out of some very important names that do business on a global basis. Now whether this lasts or not, I don’t know.

I’m just letting you know.

Now something else happened today that I think possibly can be part of the equation. As you know I am of the belief that our Federal Reserve, Mr. Bubble Ben Bernanke has been on the war path. And that is to rig markets, to control the Bond Market and send asset prices higher by printing new money. And when you print new money chasing a fixed amount of assets, the price of the fixed assets go up.

Now it worked on QE1.

It worked on QE2.

It worked on Operation Twist.

That led to the latest. I call it Quantitative Easing…I call it Ad Infinitum…an open ended printing of money for whatever reason.

Interestingly enough, the markets are now down since that maniacal maneuver and it’s starting to go down pretty decently.

So that poses the question, is the market taking a certain finger and sticking it up in the air at Mr. Bubble and saying, “We’ve had enough of you.”

I don’t know.

There’s also a rumor that Mr. Bubble will not go for a third term and maybe that’s doing a little trick, I don’t know.

But here’s what we do know. The Nasdaq has been acting awful recently, leading the market down, while the Dow and S&P pulled back to the ascending 50-day. The Nasdaq had broken the 50-day and only rallied up into it.

And if you have listen to my show, the definition of the start of a bearish phase is when something is in a bullish mode and then breaks below that all-important moving average and then starts to fail to get back above on several occasions.

Every move back to the moving average is at a lower price…a lower high. Thus, this bearish phase.

The Nasdaq, first time, went up into it and is sinking off of it badly.

Now of note with the Nasdaq is that Apple, Amazon and Google are a big percent. They mattered on the way up and guess what – they matter on the way down.

Google stock has been trashed.

Amazon’s been hit hard.

And Apple has gone from 700 down down to 614 at the close today. Apple, the last there days has gone up 22, down 22, up 22, down 20. Not sure that’s a good sign either.

So, all in all, the market remains in a corrective phase. It’s gaining some teeth there. Most growth leaders have broken. If you have one that hasn’t, you should feel lucky. And most importantly, several Dow names (higher priced names) look like they have topped and topped badly on earnings.

And why do I use the words “higher priced?” Because they have the most influence. If you haven’t heard, Alcoa is in the Dow. If it goes up 10%, the it would influence the Dow by about 7 points. If IBM moved 10%, it would influence the Dow by about 170 points. So when the higher priced names are getting hit, you better wake up.

And of note, Chevron, Caterpillar, IBM, and 3M all reported less than stellar numbers as well as less than stellar guidance and all are getting smacked around.

Not good at all. 

LISTEN TO GARY LIVE ON WEEKDAYS 6-7 PM ON A STATION NEAR YOU AND AT GARYK.COM

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.