12/19/2011: GARY ON NATIONALLY SYNDICATED INVESTORS EDGE RADIO BROADCAST

Byaaronmat-admin

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https://archives.warpradio.com/btr/InvestorsEdge/121918.mp3

JUST LETTING YOU KNOW…

Since the two big gap-up days on the European news, nothing has happened.

In the last week, I’ve been starting to tell you things that I haven’t told you in a while. That the market was acting very bearishly…and I’m worried…even though we’re in this area we call “seasonal strength.”

We can only go by precedent – which is never 100%. The last 10 out of 10 years, the market has been up from Veterans Day until the end of the year as well as 22 out of the past 24 years. I have to believe they are going to rally this into end of year…but so far, nothing doing.

No matter what, there’s been no leadership. And then last week,  a lot of things started to roll over and there was no relief from that today.

Typically in the last 8 days left in the year, they will paint the tape. But they ain’t painting nothing yet!

And they’re playing no favorites. Especially in the one area that I told you topped out first in February and was acting like it was ’08 all over again…the financials.

THE FINANCIALS CONTINUE TO BE BLUDGEONED. ABSOLUTELY BLUDGEONED.

As the market was up early – the financials kept leaking and leaking…acting horrid.

I thought this action would come in January. As stated right now, the market is not waiting.

  • The new low list, picking up markedly.
  • The new high list, ain’t much.

In the last week, the new high list has been some big drug companies, utilities, and tobacco. That’s it.

The dollar continues in its strength as the default currency. The Euro…acting like the New York Giants. Good if you’re visiting Europe from here. Bad for the markets.

I am still quite the worried person about January. We’ll see if the end of year rally does indeed come. 

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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.