JUST LETTING YOU KNOW
You all know what happened on Friday. My kids do not know this, but this weekend I basically spend it looking at them. They don’t know this and I didn’t tell them. And the only thing I thought about is…
What are these parents thinking? How are they feeling?
Because, I do not know how I would function and move forward if I was the parent in something like this.
So my best advice on this is…
Love a lot.
Do more with your family.
Don’t waste your days.
Make your days count.
Have a kind word for your children.
Always look to bolster them up, not bring them down.
You know it’s a shame that it’s times like these that make you really thinking twice.
Two of the children are being buried today. I gotta tell you, I’m beside myself about this whole thing. I don’t even know what to think. I’m really not into processing why somebody would do this because none of us will ever know why.
I must tell you that I received several calls in my office today from listeners. They wanted to know what I thought of gun control. I received a bunch of emails asking the same. I gotta tell you that this is not the forum for this. I’m not an expert on this.
But I do know that the name of my website GaryK.com, The Voice of Logic. We always try to think logically hear in everything we do and everything we talk about. We try to narrow it down to pure numbers and logic.
The only thing I can think of is that there’s got to be better logic to what’s going on, that something like this could happen. You can’t stop it. These are outlier events.
These are isolated incidents. Let’s hope it stays isolated.
On Friday, I just noted that the pullback we are seeing was nominal, right into support. I told you that, last year, the week before Christmas, the S&P was up 4.1%. And you never know what you can expect, but you do have a decent idea.
Leave no doubt, ladies and gentlemen, that today started the end-of-December, end-of-quarter, end-of-month, end-of-year rally.
Now, how do I know this? It just is what it is. I’ve done a study. I just went back 4 years and I’m going to go back 10. The tape gets painted into every month and the end of every quarter. And especially the end of every year. Fees are paid off of this. Statements go out off of this. And I am basically – how do I put this – I’m not changing what I do, but I’m adding it to the repertoire because more than coincidence year. It is a fact.
Why would the markets start rallying today when they came out with economic numbers that were horrible? Yeah. The Empire State Manufacturing Survey came way worse than expected today.
There’s no news of the Fiscal Stiff, though they’re talking. Earnings have not been good for the quarter. Sales were not good. Why would we rally?
It’s the end of the year and should take advantage of it.
Will it last longer? Could be.
We don’t anticipate. We don’t predict. We just know coming into today, the market that decent look. The financials were acting well. Remember I told you about BankAmerica breaking out and Citigroup on the verge.
And we got a good day. We hope it continues.
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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.