TONE DEAF DUMMIES!

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U.S. Airways said they are standing by their decision not to refund money for tickets purchased by a woman diagnosed with terminal breast cancer.

Lynn McKain and her family had purchased five round-trip tickets earlier this year to Belize. The dream trip was booked after she had been cleared of breast cancer. However, she was recently diagnosed with stage four breast cancer and her doctor ordered her not to travel, according to a report on WUSA.

When the McKain family asked for a refund on their $4,200 tickets, the airline refused, explaining that the tickets were nonrefundable.

Continued

SOURCE: http://radio.foxnews.com

THIS MAN RAN GOLDMAN AND WAS TREASURY SECRETARY

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Treasury Secretary Henry Paulson stepped off the elevator into the Third Avenue offices of hedge fund Eton Park Capital Management LP in Manhattan. It was July 21, 2008, and market fears were mounting. Four months earlier, Bear Stearns Cos. had sold itself for just $10 a share to JPMorgan Chase & Co. (JPM)

Now, amid tumbling home prices and near-record foreclosures, attention was focused on a new source of contagion: Fannie Mae (FNMA) and Freddie Mac, which together had more than $5 trillion in mortgage-backed securities and other debt outstanding, Bloomberg Markets reports in its January issue.

Paulson had been pushing a plan in Congress to open lines of credit to the two struggling firms and to grant authority for the Treasury Department to buy equity in them. Yet he had told reporters on July 13 that the firms must remain shareholder owned and had testified at a Senate hearing two days later that giving the government new power to intervene made actual intervention improbable.

Continued

Source: http://www.bloomberg.com

GOOD RIDDANCE!

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Good riddance! One of the culprits who have brought us to the brink. Defended Fannie and Freddie to the wall…but now disavows. But don’t worry Barney. You will now become the head of Goldman, Citi or a high paid lobbyist.

Longtime Rep. Barney Frank, D-Mass., will announce his retirement Monday at an afternoon press conference in Newton, Mass.

The 16-term lawmaker, whose name is emblazoned on the banking reform law that passed Congress last year, had long been rumored to be ready for retirement. He was previously chairman of the House Financial Services Committee but is now ranking member since Democrats lost the majority in the 2010 midterm election.

Continued

Source: http://www.foxnews.com

HORRIBLE ACTION BUT BEYOND OVERSOLD!

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On November 9th, I wrote this:

“Take away all the noise. Take away the resignations in Europe. Take away the TARP. Take away the printing of money. Take everything away. The most important thing I am seeing right now is a potential wall being built at the 1250-1280 S&P area. Take a look at the vicious selling on 10/31 and 11/1 combined with today’s early action and you have nothing more than the potential for serious resistance shaping up at these levels. If that’s the case, I expect to see some tough sledding in the near term. Already, I am seeing some of the weaker areas shaping troublesome charts. Nonetheless, this market is going to remain a tough proposition on a daily basis. That has not changed.”

On November 15th, I wrote this:

“On top of that, markets are sitting in a very nice triangle pattern here. The midpoint is at about the 1255 S&P area. One good up day takes the market above the triangle. Of course, one bad down day takes you down below the triangle…but with seasonal strength, hoping for the upside. Of course, don’t blink as this remains one of the toughest market environments I have experienced. Resistance remains in the 1250-1280 S&P area…with the financials remaining an anchor while the semis continue to provide some wind.”

And on November 17th, I wrote this:

“The triangle pattern, which had tightened up in the past few days, is now resolving itself to the downside. This is occurring as the all-important semiconductor index looks to be topping. Many past growth leaders look to be completing major tops including the likes of Apple, Bidu, Amazon, Priceline and others. The financials continue to lead down…and in a very bad way. Lastly, the NDX has sliced through the 50-day moving average with the Nasdaq right behind.”

Since, the market has been trashed.  Major averages have dumped about another 5% since the triangle broke. Now what?

There is not much good I can come up with. Technically, nothing but a horror show as just about everything has broke support. The good news is that this period of time into the end of the year has had a great reputation for being an up period but so far, nothing doing. But one must be aware of the fact that seasonality is on the market’s side. At the same time, markets are stretched, extended and oversold into this time window. Markets may be about as oversold as they were back on October 4th…so be aware. Of course, be aware that this remains an amazingly, news-driven environment, more than I have seen in ages. I do not expect that to change…especially out of Europe which seems to have the “save of the day!”

But that’s it for the good news.

Major indices failed in and around the 200-day average…a place that defines bull and bear for me. On top of this, they all have now broke back below the 50 day average.

The new low list has picked up markedly…before the major indices have hit new lows….not a thrilling sign. The new high list never really expanded on the way up.

Foreign markets remain much worse than our markets. This is an important sign of continued trouble. Typically, foreign markets lead both up and down as they are less liquid than ours.

My proprietary percentage of how many stocks are in good shape has dropped to about 20%…a sickly amount. It is much worse on the sector front  As of this second, I have only a handful of sectors in good shape…led by Tobacco and discount retailers….which are defensive.

As I have told you on several occasions, most of the big leading growth stocks have now put in major tops.  There are not many better indicators than following past growth leaders.

The SOX is in freefall. This is another area that have led markets both up and down.

Financials continue to have no bid….and continue to have insider selling down at recent lows.

Not much to chew on. It is what it is. It really doesn’t matter what you call it. Again, the near-term good news is that the market is way beyond oversold in here as it heads into the midst of seasonal strength. I will be watching to see if we get any strength in here. I will know a lot more about how the market bounces but be warned, if the market cannot turn up nicely into December, I am already thinking about January being a doozy.

 

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.

CONTINUED TAXPAYER ROBBERY…PAYING FOR OTHER’S FAILURES

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Hundreds of workers who were laid off by the bankrupt solar firm that received $528 million in taxpayer support are eligible for additional federal aid, the Labor Department has ruled.

The potential benefits for laid-off Solyndra workers would fall under a program known as “trade adjustment assistance.” The taxpayer-backed benefits are supposed to help workers who lost their jobs presumably because production was shifted overseas.

Continued

Source: http://www.foxnews.com

11/22/2011: GARY ON NATIONALLY SYNDICATED INVESTORS EDGE RADIO BROADCAST

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http://archives.warpradio.com/btr/InvestorsEdge/112218.mp3

JUST LETTING YOU KNOW…

  • Every day I try to come up with things to make you feel better, but it’s just a very tough environment, ladies and gentlemen.
  • Even when the market was rallying, I’d read you the new highs to show you there wasn’t much leadership.
  • I think the rally was just an intermediate rally in a bearish market and now we’ve resumed it. I don’t know if we go back to the lows...but the new low list is picking up.
  • Seasonal strength ain’t happening.
  • The financials continue to act like a horror show. Remember back in February, I told you they started to act like it was ’08 all over again. Market would go up, they wouldn’t. Market would go down, they’d lead down.
  • Now we’re seeing BofA at 5.37 with insider selling, Wells Fargo with insider selling, JP Morgan, Citi Group, Morgan Stanley, Goldman Sachs, Bank of New York, General Electric which I consider be a financial stock — all acting horrid. So not a lot to munch on here.
  • Patience the key
  • This is the toughest market environment that I’ve seen in a very long time. The easy ones are when just drop 50% and you just get out and just watch. This one, they tease you and then…they smack you.
LET ME GIVE YOU THE GOOD NEWS:
Over the next 10 to 20 years, there will be the next Cisco and Microsoft. The LA Gears, Amgens, AOLs, Apples…all the big winners of the past 20 and 30 years.  New companies with new products, huge margins great management and big lines waiting to buy their products.
 
My job is to find them. And I’m going to do my best. You can’t hide bull markest. You can’t hide greatness.

LISTEN TO GARY LIVE ON WEEKDAYS
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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.

FAKE SUPERCOMMITTEE FAILS TO MOVE ON FAKE DEFICIT CUTS

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So who were they trying to kid? Oh yeah…you the voters. Yes…these same people who created the deficits…now tell you they care about the deficits. If it wasn’t so serious, I would be laughing at them. But this is serious. I have written several reports over the past couple of years…all with the same title: ‘IF THEY DON’T STOP, EVENTUALLY THE MARKET IS GOING TO STOP THEM!” In our case, our money printing fed has been able to stanch any bleeding. The question is just how long this charade will go on before the markets really act up.

To my amazement, the people in power refuse to learn any lessons of the past few years. Lehman, Bear Stearns, Wachovia, Countrywide, Merrill Lynch, Washington Mutual and others did not learn their lessons. They did not go out of business. The market put them out of business. MF Global? One man who used to run New Jersey and Goldman Sachs did not learn any lesson. The market also put them out.

We are now seeing many countries around the globe that did not learn their lessons see their bond yields skyrocketing. Italy, France, Spain, Greece and many others are now seeing the downside of massive, over-the-top, unaccountable government spending. Very simply, the markets are talking over there. They will eventually wake up over here.

One would think that all these disasters would leave an imprint in the minds of our politicians. Except for a few, nothing doing. It is the same old…same old. It is the people that created the problem chosen to come up with solutions to the problem. It is the people that have no respect for the taxpayer dollar in charge. It is the people that have exploded the deficits claiming that now we must do something about the deficit. MEMO TO ALL THESE PEOPLE: It is now the late innings of this sham.

There is just no way we can continue to print money and think things are going to be ok. There is just no way that the next 7 years of taxpayer dollars have already been spent and think things are going to be ok. There is just no way they have, on purpose, raised the deficits for the next 10 years to the tune of $5-10 trillion and now want to cut only $1 trillion and everything is going to be ok. This committee was a failure from the start. This committee was a fraud from the start. This committee was just more of the Washington shell game from the start.

This sham, this scam, this joke must stop. The destruction of the economic potential of this country brought on by out of control politicians must end. They are kidding themselves that the Fed will be able to control our bond yields forever. They are kidding themselves that investors will buy into our debt when there is no physical possibility of paying back that debt.

There is 300 million of us and only 535 of them plus an administration run amok. We do have the numbers. Someone had better look at the numbers and sooner rather than later, hold these failures accountable for what they have done. They have shown complete disregard for the taxpayer and it has to stop.  I have stayed quiet on this recently, but now I must say, to watch this President, who on purpose, added $5-plus trillion to the deficit in only 3 years and now blames it on everyone else…to read about inside trading and corrupt land deals by many of these politicians…to see that they have rules for themselves that are different from ours…to see many of them leave politics to become high paying lobbyists…all leave a bad taste in my mouth. This dictatorship of our dollars has to stop or the markets are definitely going to stop them.

 

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.

APPLE SINCE DAY ONE

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SOURCE: http://visual.ly/insanely-great-history-apple

11/21/2011: GARY ON NATIONALLY SYNDICATED INVESTORS EDGE RADIO BROADCAST

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http://archives.warpradio.com/btr/InvestorsEdge/112118.mp3

JUST LETTING YOU KNOW…

  • On November 9th…we had a massive distribution day of selling.
  • We had big moves down…a rally up on lighter volume…a big move down on heavier volume…and then a couple days rallying up on lighter volume.
  • We continued to see some of leading growth names of the prior bull market that were starting to get in trouble.
  • I reported to you that the financials started to crap out AGAIN.
  • I reported to you a triangle pattern in the market and that we were within  day or two of the market showing its hand. I didn’t know if it was going to be up or down.
  • Wednesday, the market decided to show it’s hand…Thursday, doubly so.
  • I told you about the potential top in the Semiconductors, which lead both up and down….about the ugly action in the Amazons and the Apples and the big growth names of the world.
  • The fact that the Commodities looked topped.
  • World markets getting worse.
  • Which led to today, which was another gross day for the most part.
  • You can take that seasonality and throw it out the window for this second…So just be careful.

 

…I get a lot of emails asking whether this is the the resumption of the bear market that started in May…?

 

…I would say odds favor and that this does not look like a normal pullback…

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.