11/30/2012: GARY ON NATIONALLY SYNDICATED INVESTORS EDGE RADIO BROADCAST

http://archives.warpradio.com/btr/InvestorsEdge/113018.mp3

JUST LETTING YOU KNOW

What For?

I’ve been telling you for awhile that the same hacks on both sides of the aisle come on tv and say the same crap. These are the same people that caused the problem.  I was watching a Repubi-con on TV today who was asked a direct question:

“So sir, what spending cuts do YOU want to make?

Simple question.

He wouldn’t answer the question. He just moved on.

So President Obama was out today, talking about the Fiscal Stiff.

John Boehner was out talking today about the Fiscal Stiff.

I have to tell you… it gets nauseating by the minute.

But I cannot blame them fully.  Just so you know, none of this could have happened if not for the lapdog, on-their-back, paws-in-the-air, tongues-wagging, national mainstream media. They have become nothing more than con-artists…successfully reporting they way they want to report.

What does this have to do with you and your money? EVERYTHING! Because it is you that is screwed in the end.

Here’s what  I saw today. You know CNN. Cable News Network. You know what they say about themselves: “We’re the unbiased network.”  Sure…and the Mets have a good bullpen.

As I was watching a panel talking about the fiscal stiff, a headline appears on the bottom of the screen:

The headline:

“Congress has 32 Days to Fix Mess It’s Created!”

Yes…the unbiased network, in their infinite wisdom, says Congress created this mess.

That’s CNN!

John Stewart, that comedian dude on Comedy Central (where most politicians should appear) also blasting Congress about the debt and the Fiscal Cliff!!! According to Mr. Stewart, Congress has to get their act together!

What is missing with this picture?

No president? You mean to tell me the President doesn’t have to get his act together? You mean the President has his act together? But congress doesn’t?

Oh that’s right.  The President that on purpose, has overseen the creation of $6 trillion of debt…and then blames everybody else for it…gets a pass. He isn’t even part of the equation. IT’S ALL CONGRESS’ FAULT.

Don’t forget that the other fake mantra this media is now claiming is that the Republi-cons want to raise taxes on the middle class! Little do they mention that it was these same Republi-cons who are the ones that that brought taxes down in the first place for the middle class. So the  freak’in shell game continues.

It is being led by the media parroting whatever this President says.. The whole media mantra is: It’s all Congress’ fault. And, of course, it’s Congress’ fault because it’s a Republi-con Congress. If it was a Democratic Congress and a Republican President, they would be destroying the Republican President about how much debt has been incurred.

Ladies and gentlemen, I can’t believe what I’m seeing!

If Obama gets his way, we’re going to have nothing more than higher taxes and no spending cuts.

He’s asking for higher spending! Believe it or not, he’s been talking and talking about lowering spending and raising taxes…which was the original deal. Republi-cons came in and said, “Okay, we will look at revenues but tell us what you’re going to do on the spending.” They called the President to task. And the President just wants to spend more.

And instead of the media doing their job…NO – CNN: “Congress has 32 days to Fix the Mess, It Created!”

Yet CNN doesn’t mention that all of this started with a Democratic Congress, Senate and Presidency, where they decided to take the Federal spending from $2.6 trillion to $3.5 trillion OVERNIGHT.

These are facts.

Ladies and gentlemen. I’m sitting here in Bizzaro Land as they refuse to put anything on the doorstep of the man who was running the country. And it is all in plain sight. It’s all about numbers. It’s not even about opinion. And I’m sitting here worried to death about what is going to happen!

And at the same time, all this nonsense is being funded by a  imbecile named Ben Bernanke that is printing the money to pay for the spending that nobody else would lend to this country at these rates.

The Fed bought up 70% of our bonds last year because nobody else wants to touch them.

Yet CNN: “Congress has to fix it…”

The President doesn’t have to do anything! He’s perfect! He has no blame in this. He’s wonderful. He didn’t create any of the debt. It’s all Bush’s fault. And if there is any debt , he had to do it because he had to save the country. And if you don’t like what he’s done, you’re a racist.

This is what I am watching.

And ladies and gentlemen, I’ve got news for you. Raising taxes on the rich from 35% to 39%… I’m good with it. It’s not going to change the world. But it’s a lie. The reasoning for it is a lie. They’re not going to lower the deficit. They’re not going to use the money to help the middle class. There is just no purpose for it.

You think the middle class is going to get better because they raise a few extra hundred billions dollars or so, when the debt is a trillion and change?

You think somebody’s going to get an extra job because somebody else is taxed more?

What world  are you guys living in to believe something like that? Do you think all of a sudden that the economy’s going to get better because of the people in Washington that run Amtrak… BANKRUPT…Post Office… BANKRUPT…Social Security STOLE THE MONEY…DEFICITS EVERY YEAR…Medicare and Medicaid UNFUNDED…do I need to continue with their failings?

Yet, we have to give them more money in order to solve the problems? What world are you guys living in?

Seriously! It is such a logical thought process here. Let me tell you the outcome of all of this:

The debt never gets paid back and the markets eventually blow up.

It’s happened to every country throughout history! You can blow up the debt just so long and just so much. They are just taunting markets….and the only reason they haven’t blown up as of yet is the printing of trillions of conjured up dollars.  And even though you’ve got this nutcase Bernanke that’s printing money to cover this, eventually the market is going to take a certain finger and stick it air right at Ben Bernanke and he’s not going to know what hit him.

I got so frustrated today, watching the words coming out of these peoples’ mouths. Just lie after lie after lie. I’m just dead serious about this stuff. Now you know what the game is. They’re attacking this guy Grover Norquist. Here’s what he wants. He just wants efficient and effective government.  He wants the government not to waste our taxpayer dollars. He wants the government to balance their books. What a horrible man! How dare he ask for such things? But the media needs a demon…and as usual, they follow the Prez and pick one.  That’s it! Nothing more.

And I’ll finish with two words: What for?

Interesting two words that nobody ever asks because they know they can’t ask it.

Mr. President: “You want more taxes for Treasury. What for?” 

You know what’s going to happen at that point. The President turns into Ralph Kramden…humina humina humina. There’s no plan. There’s no purpose. There’s no spending cuts. Just spend it first. Tax you later.

I’ve got news for you. Do you know who pays the most for all this? It will be the middle class. And the poor.

There’s nothing compassionate about the poor staying poor…and just giving them a check. There’s nothing compassionate about that. It does nothing for nobody. It produces nothing. They’ve got it ass backwards.

You’ve got to lift the poor up in how they see things…how they think, how theyeducate. You have to build up their confidence, their tenacity, their knowhow and their abilities. All this so they can walk the walk and talk the talk and get a great job…and get so good at their job that they get promoted and all of sudden people are working for them. And they got so good at being a boss, that they start owning companies. That’s how you get things moving…not just giving a check after the government takes their commission.

You don’t do anything for anybody by handing them a check. Just ask Solyndra.

We’re going the wrong way ladies and gentlemen…and it’s all right here in plain sight. The acceptance of the numbers we are seeing, of poverty and food stamps and free cell phones…the numbers are obscene.  

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.

 

 

 

SOMETHING MUST BE DONE IN THE SCHOOLS SO SOMETHING LIKE THIS NEVER HAPPENS AGAIN

Makes me want to cry!

A 14-year-old junior high school student in Utah has committed suicide by shooting himself in the head in front of a group of classmates Thursday.

Those who knew the victim, identified Friday as David Q.  Phan, described him as a boy who was always nice to everyone, but who was often mistreated by his classmates.

Granite School District spokesman Ben Horsley said the ninth-grader had left Bennion Junior High in the Salt Lake City suburb of Taylorsville with his mother at around 1.30pm after a trip to the principal’s office.

Continued

SOURCE: http://www.dailymail.co.uk

I THINK I AM GOING TO START A SOLAR COMPANY

JACKSON, Miss. (AP) – Mississippi taxpayers may have only an empty Senatobia building and some solar panel equipment to show for nearly $26 million in loans provided to Twin Creeks Technologies.

The California-based solar technology firm is liquidating, and a company that bought Twin Creeks’ assets does not intend to take over its agreement with Mississippi. The contract called for Twin Creeks to invest at least $132 million and create at least 500 jobs.

Continued

SOURCE: http://www.wlox.com

kaltbaum on end of month/quarter trading

I am sure you know I believe the crooks paint the tape into month-end and quarter-end. It seems that just about every end-of-month moves higher. I took some time today and went over just the past 4 years. I used the 20th of every month into the end of month and here are the facts:
 
Using the Nasdaq…out of the 48 months:
 
Only 2 were down decently. Both occurred in 2010 when we experienced some wild swings.
 
Only 4 other times was the market down. I am not making this up.
 
The market was flat 14 times.
 
The market was up 28 times. Many of these times up nicely.
 
Change the date to the 23rd until the end of the month and it gets even better:
 
Take 4 of the flat and put them into the up column…thus 32 up…10 flat….6 down…with only 2 down decently.
 
I will be going back 10 years over the weekend. But already, it speaks for itself. By the way, painting the tape is illegal…so it really doesn’t happen. BTW…this month…market reversed on the 16th and turned up on the 19th…rallied into today…last day of month…and somehow, now showing some churning.
 
Lastly, very often, these rallies into end of the month and quarter…petered out right into the next month.

WARREN WOULD HAVE BEEN A GREAT POLITICIAN

Having a net worth over $40 billion may command some authority and attention for one’s views on economics and taxation.  But it should not buy one an exemption from basic logic, intellectual integrity, or consistency.

Such seems to be case with Warren Buffett, who yet again took to the op/ed pages of the New York Times this week to call for higher taxes on citizens earning more than $500,000.  The idea that higher income people should pay more in taxes, whether born of a desire for greater progressivity and/or a desire to raise more revenue, is certainly a legitimate viewpoint.  However, any serious person espousing such an argument should be expected to address several basic questions:  What will the standard of fairness be?  How is it to be determined that any particular income group is paying its “fair share?”  And if taxes are to increase, whether to address the deficit or for “fairness,” what degree of negative impact on economic growth and investment is one willing to tolerate?  Regrettably, the recent presidential campaign featured much demagoguery but few answers.  Mr. Buffett is no more illuminating.

Continued

SOURCE: http://www.forbes.com

I TOLD YOU SO…ONLY MASSIVE TAX INCREASES AND THE GRAPEFRUITS TO HIKE SPENDING AFTER SAYING YOU WANT TO LOWER DEFICITS

…YUP…ELECTIONS HAVE CONSEQUENCES. I REPEAT…THERE WILL BE NO SPENDING CUTS!

The first serious proposals from the White House to solve the looming “fiscal cliff” of tax rises and budget cuts appear to have been rejected out of hand by Republican leaders in Congress.

Treasury secretary Timothy Geithner is reported to have offered a set of proposals that include increasing tax rates on the wealthy, a one-year postponement of scheduled cuts in defence and domestic spending, and $400bn in savings from Medicare and other entitlement programmes.

The proposals from the White House – the first to use hard numbers – include a $1.6tn tax increase, a $50bn stimulus package and new presidential powers to raise the federal debt limit without congressional approval.

But based on public and private comments after their meetings, both House speaker John Boehner and Senate minority leader Mitch McConnell – the two most senior Republicans in Congress – brushed aside the proposals as incomplete.

Continue

SOURCE: http://weaselzippers.us

kaltbaum pre market

The boys have done another good job at end of month. Look at this whole year. End of month has been either flattish after a move or nicely up…no big down last few days. In fact, market looked like it was teetering on Wednesday and then had a “mystery” reversal. I will go back 5 years this weekend at the final few days every month and put together some stats. I gather I will come back and say just buy on the 23rd of every month and sell at the end of the month.
 
The service put REGN on the leaders list this past weekend…but it was in a high handle so didn’t play. Of course, it romps out of the high handle yesterday. The leaders list is a list that shows what the service believes is the strongest and best growth names,. They all have a few things in common. They are all trading above 10 week/50 day. A break of that level usually gets them off the list though a couple of times, we have kept name on because it was just below. They most have strong earnings and sales growth and finally, they all have shown great relative strength and have shown a great ability to hold up in crappy markets.
 
I am hoping for a pullback here…right at resistance and with month-end coming to a close. Hope doesn’t get you what you want. We shall see. The action has been good but a lot of stuff showing wedges on the daily charts. Just because something wedges does not mean it will sell off. Often, something will come out of the wedge into the upside…and sometimes, wedges just keep going. AMZN seems to fit that bill.
 
No additions today. Will take the weekend to do full scans…and will be back to you over the weekend.

11/29/2012: GARY ON NATIONALLY SYNDICATED INVESTORS EDGE RADIO BROADCAST

http://archives.warpradio.com/btr/InvestorsEdge/112918.mp3

JUST LETTING YOU KNOW

I could do 20 shows on the Fiscal Stiff. I ask myself, is it worth it at this point and in time? And I don’t know what to say. Just remember what I’m been telling you for years. They were going to spend it first and come after the money second. Job well done.

I blame the media 51% as they are no longer are watchdogs of the people in power. They were great watchdogs of previous president. But they are no longer watchdogs. It does not matter what is done, how it’s done…nothing is wrong. Nothing is wrong.

We’ve run up another $6 trillion in debt in the past for years. They had promised to cut our spending and the deficits and they are not going to do it. They are only going to start raising taxes.

And let me be clear. If any of you think they want to raises taxes from 35% to 39% and that’s it…huh…that’s why if I am in the Republi-CON’s shoes, I’d tell the president to take a fly. Because there’s a con game going on. This tax hike does nothing for nobody. It pays for nothing for nobody. Does nothing for the middle class. This whole thought process that the middle class can’t move up because of the rich is a load of crap. And it’s getting tiresome to hear.

And none of this could happen without the help of your national mainstream lapdog paws in the air tongue wagging panting national media.

Moving on…

Well, we had this day again today where it was driven by “oooh we have this deal on the Fiscal Stiff…on no there isn’t a deal on the Fiscal Stiff…oh there’s a deal…no there isn’t – back and forth up and down. And I’m sitting here really shocked and amazed that the market would actually go up because of a deal on raising taxes. But, of course, the other part of the equation is that nothing gets done and they’re telling you the world’s going to end. I don’t know. We will see how it plays out.

One little note…we have now entered the zone. As you know we were stretched and extended in an oversold condition to the downside. We had that turnaround day on volume. I told you we’d get some upside testing. We are now in the zone.

What zone am I talking about? Massive overhead resistance, in and around the 10-week/50-day moving average for the indices – not just individual stocks. I am in particular paying attention to how markets act right around here.

It is going to be muy importante around here. In spite of any news on the Fiscal Stiff. 

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 email

No additions tonight…into meat of resistance here and saw some churning in a few names today as well as areas of the market. Churning means higher volume with no progress or higher volume and finishing in the lower half of range. Notwithstanding all the fiscal stiff nonsense, may get some pulling in soon. See you in the morning.

HEARTWARMING STORY OF THE DAY

 On a cold November night in Times Square, Officer Lawrence DePrimo was working a counterterrorism post when he encountered an older, barefooted homeless man. The officer disappeared for a moment, then returned with a new pair of boots, and knelt to help the man put them on.

Continued

SOURCE: http://www.nytimes.com