07/11/2012: GARY ON NATIONALLY SYNDICATED INVESTORS EDGE RADIO BROADCAST
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https://archives.warpradio.com/btr/InvestorsEdge/071118.mp3
JUST LETTING YOU KNOW
Passion Backed by Facts
You know what I’m tired of? I was once told, “Never call your audience dummies or idiots, because they’re your audience.
But I wouldn’t do that.
But I can call certain people dummies. I just realized something today. I got into a conversation today with somebody about what’s happening in the world. And it almost went into an argument, but I don’t get into arguments with people.
They had no idea about deficits and what they are, where the money’s gone…nothing. All they knew was the rhetoric that’s yakked out there.
And I still think there’s a ton of people out there that do not know. Some do not even want to know. My job here is to educate and to guide you through the markets. But I think it’s also important to educate about what drives the markets and the economy and money and you.
And it gets so annoying some times when you get the idiot email that says, “Stop talking about deficits. You’re back from Europe and you’re already talking about the government and politics.”
It’s not politics! It has nothing to do with politics! It has everything to do with your money!
With the current total deficits, it would take the next six years of our tax dollars to pay for them.
With this president, just his deficit spending is more than the first three years of all the Clinton administration spending! Do I have to repeat that?
Yet, I still get every now and then an email that is just so stupid.
Countries are imploding in Europe because of deficits.
I put up a chart today on this site. It’s there now. It shows the stock market in Japan, with just two little notes. Japan has massive deficits and has zero percent interest rates. Hmm. Go look at what Japan’s stock market has done since 1989. But yet, I get, “Stop talking about politics!”
No. I’m going to talk about it more. Or we’re not going to have a market. I don’t want 99% of you to get it. I want 100% of you to get it.
And this is not a Republican or Democrat thing. Because it’s the Republican and Democrats that have done it.
It’s just that we got the worst person at the worst time to run this country when it comes to deficits. He came in and lied. His goal was to ram spending infinitum and if he couldn’t raise taxes, who cares. He’s just going to spend anyhow and blame it on everybody else and call his buddies at MSNBC to tell everybody it’s somebody else’s fault.
So our president can yap all he wants about what needs to be done. He has no right to be a steward of our tax dollars. He has abused it in the worst possible way at the worst possible time. Because we already had George Bush for eight years to strangle us with deficits. So to the few idiots that keep emailing me.
Go listen to somebody else. Because you just don’t get and you obviously never will. We talk numbers here. We have passion backed by facts.
A Few Thing’s That Stick Out in Today’s Market
- Strength today in Oils
- Strength today in Financials
- Strength today in Fertilizers
- Everything else just mixed
- A lot of Growth Names just bludgeoned
- Came back toward the close. The story same story again. Crooked people. And they’ve been doing it every day for the past 2 or 3 weeks just about. They just pop the markets in the last 15 minutes. That hasn’t really helped the market.
I will tell you that the Nasdaq went up 15 points in the last 15 minutes. It’s pretty nauseating to watch.
But here’s the story today, the Fed had the words and minutes of the last month. They said, “Blah, blah, blah and the market went just straight down. 2887 on the Nasdaq down to 2866. Then back up to 2887 by the close. So the market gave and got back by the end of the day. And it all happened for the most part in the last 15 or 20 minutes.
A Few Thoughts
Now much really changes for me. I still think we’re in a flop and chop market. A ton of earnings start coming out soon. Friday is JP Morgan and Wells Fargo. I thought Google reports tomorrow, but they report next week.
But then next week we get a ton and that’ll dictate some policy.
But today, there was just a lot of rough action in names that I watch. But along with it came a lot of distribution in a lot of growth names. You just don’t want to see that.
It is a great indicator for markets.
The only thing I would tinker with today, just a wee bit…remember I told you that the oils were really extended to the downside and they rallied up? And I said to you that’s the reason why the rallied up? Well, they pulled them back and they’re trying to rally them now.
There’s a chance that oils can possibly make a higher low here…meaning: This could be helpful to some indices.
If you look at the OIH, XLE, and XOP, which are ETFs that represent stocks, you will see what I call a bullish type wedge where it’s in a position where it could rally up. If it does, that’ll be helpful for the market.
Also, some of the Financials have a little bit of that look. The XLF and IYF kind of have that some kind of look. Rallied up. Pulled back and look like they’re holding some support here.
I think there’s a chance both of these areas can show some relative strength. I’m not saying they’re going to.
I just letting you know that today, I see what I consider to be some decent relative strength.
That’s said, earnings will move a lot of jello on the plate.
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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.