AND HEREIN LIES THE PROBLEM. JUST AN AMAZING AND SICKENING JOKE TO WATCH THIS IN REAL TIME!

 

Continued

SOURCE: http://weaselzippers.us

11/28/2012: GARY ON NATIONALLY SYNDICATED INVESTORS EDGE RADIO BROADCAST

http://archives.warpradio.com/btr/InvestorsEdge/112818.mp3

JUST LETTING YOU KNOW

The market has had some rough going as of late. As you know we had a pretty decent correction. Two Fridays we had a high volume turnaround day where the market was and finished near the highs of the day. It gapped up the next day, sat around and then Friday last week on a shortened session, had a very good day.

Then we walked into this week and the action has not been too good. And we walked back into today…

…and let me tell you about today. I did my scans last night and I’m like…they need to hold things right here. And why did I say that? Because they were starting to turn things down again. So I said they better hold things here.

And we walked to today and the market was getting smacked and it was somewhat of an ugly smack. The Dow was down 115, but I was watching the Financials and they were really starting to roll over…the JP Morgan as it rallied into the 50-day moving average and failed and started to roll over along with some other things.

And then something happened.

Now for the life of me, I don’t know what I’m about to tell you would change the market, because basically we had another big turnaround today, although volume was not there. But something was there today that makes me feel a lot better about today vs. last Friday the week before.

So unlike in the recent days, where Harry Reid coming out saying we’re not even close to getting a deal on the Fiscal Stiff, John Boehner came out and said – yeah we’re working it out. But two hours later he said, we will not raise any taxes. So, nothing’s getting worked out. But the market turned around 200 Dow points. The Nasdaq turned around probably 35…40 points. The S&P 500, about 20.

It was a good 1.5% turnaround on the day. Now, I must tell you that doesn’t mean much to me, except to say the market was defended today. And we’ll probably get some more upside testing.

What was more important to me today, that had not happened recently, is that growth had a bid.

Some of the names that were hit the hardest came off their lows. Some other names, were starting to jump a little bit. Some other names where back above their 50-day moving average after having undercut it. And that’s good news.

Let’s hope it continues.

Again, the low that was put in two Fridays ago, as I said to you, looks like a good low. I don’t know about it being the low. Remember, we’re into month-end, where they paint the tape and mark things up. Of course, that’s illegal…so “it’s not done.” And then we have the supposed seasonal strength of December just ahead, not to mention that the Fed is still printing $40 billion a month. And somehow, some yutz from the Wall Street Journal who is a plant for the Fed came out and said today, “Oh, they’re going to keep buying bonds, which is printing money, in 2013 (which we already knew).

And, of course, the Fed told the guy at the Wall Street Journal to say this because they’d like to get the market moving higher, as they know everything else they do stinks…hasn’t helped the economy…all it has done is screwed the savers…oh well. 

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

Today was a strong day…as growth woke up.
 
I think you can take a position in RAX here…clean move…with stops under 50 day.
 
CRM is buyable moving through $160.50.
 
I also think you probe EXPE here…stops under the 50 day.
 
Keep in mind…market will remain news-driven…just look at today.

IF THE PEOPLE WHO SHOULD HOLD CORZINE ACCOUNTABLE REF– USE TO GO AFTER HIM…

…maybe others could. Would love to see this happen but don’t hold your breath. He is well connected.

NEW YORK (Reuters) – A group of former MF Global customers on Monday asked a court for permission to subpoena the commodities broker’s executives, including former CEO Jon Corzine, who was blamed in a congressional report this month for MF Global’s collapse.

The Commodity Customer Coalition, an advocate for trader customers who lost money when MF Global went under, is seeking to subpoena Corzine, Chief Financial Officer Henri Steenkamp, Chief Operating Officer Bradley Abelow and others, according to court papers filed in the U.S. Bankruptcy Court in Manhattan.

Continued

SOURCE: http://finance.yahoo.com

AS I HAVE ALWAYS STATED, PEOPLE, BUSINESSES AND CAPITAL WILL MOVE WHERE IT IS TREATED BEST…

…And when the ability to move is easy, it will move quickly.

In the 2009-10 tax year, more than 16,000 people declared an annual income of more than £1 million to HM Revenue and Customs.

This number fell to just 6,000 after Gordon Brown introduced the new 50p top rate of income tax shortly before the last general election.

The figures have been seized upon by the Conservatives to claim that increasing the highest rate of tax actually led to a loss in revenues for the Government.

It is believed that rich Britons moved abroad or took steps to avoid paying the new levy by reducing their taxable incomes.

Continued

SOURCE: http://www.telegraph.co.uk

kaltbaum on market

Well…we are back to the freaking nonsense. Market was being ripped today…and then Boehner says blah blah blah fiscal stiff…taxes…spending…agree…disagree…more revenue…no revenue…
 
Anyway…DOW has rallied 100 points off of Boehner. What was a real ugly day, DEPENDING ON THE CLOSE, could be another defense day. Of course, will know a lot more at the close.
 
I hate this crap…markets again being held hostage by a bunch of assclowns. But when all said and done, we will adhere to strict rules.
 
I suspect there will be more whipsawing as these clowns just spend us into oblivion and now here come the taxes.
 
Some retail standing out today…but they are the weakest yesterday…
 
 

gld and slv

Since it was a decent size gap for the metals, you may want to give it the day before selling. Sometimes, they will bounce them…

kaltbaum premarket

Gold gapping down…so GLD will be below 50 day…take the small loss off probe position. SLV also gapping down but is above 50 day…use a break below $32 to sell. Euro wacked…unwinding last Friday’s half day move to the upside…thus metals hit. Remember, there remains a great case for gold to have a climactic run at the end of this big bull cycle it has been in…but no reason to own if it trades below 50 day as it cannot go higher when under.
 
Otherwise…futures down…and already the suspiciously called “follow through day” aint working. AAPL down $8 pre market as it tires after reactionary low…and still trades below 200 day.

THIS IS EXACTLY THE PROBLEM! IT PAYS NOT TO WORK!

Exactly two years ago, some of the more politically biased progressive media outlets (who are quite adept at creating and taking down their own strawmen arguments, if not quite as adept at using an abacus, let alone a calculator) took offense at our article “In Entitlement America, The Head Of A Household Of Four Making Minimum Wage Has More Disposable Income Than A Family Making $60,000 A Year.” In it we merely explained what has become the painful reality in America: for increasingly more it is now more lucrative – in the form of actual disposable income – to sit, do nothing, and collect various welfare entitlements, than to work. This is graphically, and very painfully confirmed, in the below chart from Gary Alexander, Secretary of Public Welfare, Commonwealth of Pennsylvania (a state best known for its broke capital Harrisburg). As quantitied, and explained by Alexander,“the single mom is better off earnings gross income of $29,000 with $57,327 in net income & benefits than to earn gross income of $69,000 with net income and benefits of $57,045.

Continued

SOURCE: http://www.zerohedge.com

11/27/2012: GARY ON NATIONALLY SYNDICATED INVESTORS EDGE RADIO BROADCAST

http://archives.warpradio.com/btr/InvestorsEdge/112718.mp3

JUST LETTING YOU KNOW

Today the market was acting “blah” and then it rolled over late in the day as Harry Reid came and said that they’re getting nowhere with their negotiations on the Fiscal “Stiff.” Just remember what I have told you ladies and gentlemen.

We got to the Fiscal Stiff because they did it on purpose. What they like doing is creating a crisis with “no time left…we better do something” in order to further their agenda. And what you need to know – very importantly – is that the Republicans are caving as we speak, which basically means there’ll be zero spending cuts. Not one dime of government spending cuts. They’re going to raise taxes and deficits are going to continue to skyrocket going forward.

The whole positioning is a scam and sham.

Why am I bringing this up now? Because guess what we have to deal with?

You know how for weeks and weeks and months and months, we have had to sit around waiting for the Fed to decide whether or not they were going to print more money or not and the markets were held hostage? Remember we had to deal with Europe and what are they going to do and who are they going to save?

Well now we get to wait on what they decide to do, and how they decide to it with our taxes.

Today, when Harry Reid came out and said what he said, the market took a hit. But it wasn’t that bad.

So that’s what we were going to get. And here’s my prediction. Mark this down kids:

On purpose, nothing’s going to get done. They’re going to let taxes rise for everybody. Upper, middle, and lower. But then they’re going to come back and lower taxes for the middle class, I think. So they’re going to let it expire, raise taxes, and then come back on lowering certain areas. But there will be no spending cuts. There will be nothing done on entitlements because they are quite happy with what’s going on. Why? Because they get to spend our treasure into oblivion.

We’re already in oblivion by the way, at a trillion dollars a year and $16 trillion total in debt.

And, of course, I can’t leave out the paws in the air, lying on their back, tongue wagging, lapdog con artist media that are driving all of this. You know I can’t watch these people because I get physically ill.

But I know how to get the videos of everything they do and here is what they do. They bring on the Republicans…”Why don’t you raise taxes on the wealthy? How is that going to hurt them.” In other words, they’re asking questions from that side. They are completely biased.

Now we have the same con artist media who want taxes to be raised. They’re part of the process now. And, of course, Warren Buffett was on with Matt Lauer today who just put a little ball on the tee. He probably was in the green room with Warren Buffett beforehand asking, “What do you want me to ask you?” Because he teed him up, put down the Republicans…and that that and the other thing…

Warren Buffett wouldn’t invest a dime in this government if it was a business. So he’s full of crap and it’s getting tiresome.

Ladies and Gentlemen, there’s a simple problem going on here. They’re taking more money out of the economy and putting it over to them. And they stink. They’re horrible. They’re the worst of the worst. They are economically illiterate. They do not know how to allocate capital. They are corrupt con-artist chronistic politicians who put the money in their favorite’s hands through government guarantees and all that stuff…and nothing gets done.

And they only reason why we’re even in the shape we’re in right now is because of the hard work of the 100 some odd million people who go to work every day. They’re putting headwinds in front of us.

And have to tell you. I was email back and forth with a good buddy of mine. You watch him all the time on Fox – Jonathan Honig of Cashin’ In. I just emailed him, “I think we’re losing the battle.” And he told me basically to keep a stiff upper lip and never think you’ve lost the battle. But I do.

The con-artist media is driving the story, mentioning nothing about spending cuts and government in trillion dollar deficits that are not caused by taxes…they’re caused by the spending. And nobody’s driving that news and it’s going to affect you and the markets going forward.

And if you think raising taxes on the rich isn’t going to hurt the middle class…(sigh).

And they first asked for $800 billion and raised taxes and they’re asking for $1.6 trillion.

Whether you agree or disagree with me, let me give you two numbers:

$2.4 trillion and $3.6 trillion.

$2.4 trillion is how much revenues are going into the U.S. government this year. It’s the same number as in 2008.

But the deficit is going to be $1.2 trillion this year. Why? Because they raised spending from $2.7 trillion to $3.6 trillion.

$900 billion more in spending from four years ago is 75% of the deficit this year. But they don’t mention anything about that. The media refuses to ask those right questions about that. Those are opinions. Those are facts.

We don’t have a tax problem. We have as spending problem by these con-artist corrupt, sleazy sleazebag politicians that could not give a flying hoot about your hard earned tax payer dollars. And frankly, they think their money to dole out to you.

As they say, elections have consequences. Yippe yay yay.

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.