06/10/2013: Gary on Nationally Syndicated Investors Edge Radio Broadcast
Written By: Garyk
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Jun•
10•13
Miss Today’s Show? Listen To The Full Show Here
Few Highlights From Today’s Show:
- Senator Obama vs President Obama- Hypocrisy abounds
- Interest Rate Sensitive Areas Of The Market Continue To Get Hit
- Market Wrap & Sector Analysis: Gary discusses the important events of the day and covers several significant sectors moving our market.
- After Hour Highlights, News, & Movers of the Day: Gary covers all the big movers of the day and guides you through the important after hours action.
Listen To Gary’s Archives Here:
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.
Charts of The Day: Bond Yields Approach Important Resistance
Written By: Garyk
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Jun•
10•13
30 Year Bond Yield:
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10 Year Yield:
SHORT MARKET NOTES
Written By: GaryK
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Jun•
10•13
The most important thing to happen this past week was that after a 5% pullback, major indices held right at support and turned back up. We have been telling you ad nauseum that until the 50 day average is taken out, it is folly to become too bearish. On Thursday, this area was breached on an intraday basis but reversed back above it on the close. This had the feeling of a near term washout leading into Friday’s fake job’s number. That number helped the market to rally even further off this all-important area. This is the 3rd time since the lows that this area of support has held. Just keep in mind that out of this recent pullback, a few more areas are now in a bit of trouble…namely all the interest-rate sensitive areas.
Interest-rate sensitive areas are now near-term bearish…with some being much worse. These areas had broke down in past weeks and have shown nothing in the way of strength. This includes mortgage-related, most REITS, Utilities and bond funds of all kinds. Of course, we remain bearish on the bond market. We are of the belief that the big bubble is in this area as the Fed continues to prevent higher rates with their maniacal printing of money. Lastly, we are less than thrilled with the recent action in housing stocks.
Other areas that are bearish remain just about everything commodity including gold and silver, metals and mining, coal, steel, aluminum, copper and construction mining. On top of that, most commodity countries remain bearish…namely China, Brazil and Russia.
Many defensive names have also cracked but not all. This includes food,beverages,tobacco and household products.
Most other areas remain in decent to good shape trading above the ascending moving averages. It is nothing but good news that the banks, brokers and investment managers continue to act strong. We have never seen a bear market occur without these groups leading down or going along for the ride.
THE VOICE OF LOGIC TALKS ABOUT THE NONSENSE OUT OF WASHINGTON
Written By: GaryK
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Jun•
10•13
The same people that brought us:
$17 trillion in debt. Let’s repeat that…$17 trillion in debt!
A horrifc ponzi scheme called social security.
A bankrupt post office.
A bankrupt Amtrak.
A discomobulated Medicare and Medicaid system.
A new health care bill that already costs twice as predicted…with the writers having no clue what’s in it.
A war, that in hindsight, did nothing for nobody and cost over $1 trillion and many lives
A Federal Reserve that actually prints $1 trillion each year.
A banking oversight that oversaw nothing and almost took the house down.
Tax cheats, ethics violations, philanderers and “Weiners!”
Highest poverty ever.
23 million households on food stamps.
No indictments from the 2008 massive fraud on Wall Street.
Benghazi…ooops…nothing to see here.
Fast and Furious…oops…nothing to see here.
The IRS doing this, that and the other thing…and who knows what!
These same people are now telling us that it is just fine…just ok and is a “modest encroachment” on our lives by spying on every freakin thing we do. Go on the web…they are watching. Make a phone call…they are watching. Walk the wrong way…they are watching. Talk the wrong way…they are watching. Step on a crack on the sidewalk…they are watching. Drink a soda that is too big…you can’t! Of course, all we have to listen to is that fine, upstanding journalist, Al Sharpton who said it is ok for all this to go on as long as it is this president doing it. If someone he doesn’t like is doing it…that’s a bad thing.
My friends…I would like to assign all the blame on them…but frankly, I have to assign lots of blame on us as we continue to elect these creeps on both sides of the aisle. The question is where is this going to end. At what point will they stop? What do we have to do to get them to stop as they are stealing away any shred of privacy and liberty that we have. This past weekend, we have watched people who excoriated Bush for warrantless wiretaps…now say that everything is just fine. Don’t worry! Jump on in. I am sick and tired of these sycophantic defenders and I am sick and tired of all this being done in secret. We have all watched an IRS go after one group…watch someone from the IRS go to the White House dozens of times…but we are told there is nothing here. Nah…no dots to be connected here!
Why should we trust? With all their failures…with all their looting of the treasury….with all their stealing from our future with massive debt that will never will be paid back…why should we trust anything they tell us? We are just seeing another in the long line of snowjobs by both parties. Madoff would be proud!
06/07/2013: Gary on Nationally Syndicated Investors Edge Radio Broadcast
Written By: Garyk
-
Jun•
07•13
Miss Today’s Show? Listen To The Full Show Here
Few Highlights From Today’s Show:
- Gary Talks Big Brother and Points Out How Ridiculous Politicians Are
- Market Defends Support & Why That Is Important
- Market Wrap & Sector Analysis: Gary discusses the important events of the day and covers several significant sectors moving our market.
- After Hour Highlights, News, & Movers of the Day: Gary covers all the big movers of the day and guides you through the important after hours action.
Listen To Gary’s Archives Here:
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.
Good and Bad For The Week
Written By: Garyk
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Jun•
07•13
Good:
- ECB chief Mario Draghi said the Eurozone is on track to recover later this year but said the economy remains “challenging” Read here
- Australia’s Central Bank left the door open for further easing Read here
- Spanish jobless numbers showed a 2% decline for May Read here
- Kansas City Fed President Esther George, reiterated her support to end QE sooner than initially expected because that will help financial markets reduce their dependence on QE. Read here
- U.S. trade deficit widened in April to $40.3 billion which was less than the Street’s estimate for a gain of $41.0 billion in April which may be a modest vote of confidence in the recovery. Read here
- The Bank of England (BOE) and the European Central Bank (ECB) held rates steady and left the door open for more easing, if needed. Read here
- Mario Draghi said the ECB is technically ready to lower rates in to negative territory and said he will maintain an accommodative stance for as long as needed. Read here
- In the US, weekly jobless claims fell -11k to a seasonally adjusted 346k which barely missed the Street’s estimate for 345k. Read here
- The Labor Department said us employers added 175k new jobs in May which topped the Street’s estimate for 169k. The unemployment rate rose to 7.6% in May from 7.5% in April. Read here
- Canada posts largest job gain in a decade Read here
Bad:
- China’s Manufacturing Sector Slows. China’s HSBC’s Purchasing Manager’s Index (PMI) for May fell to 49.2, below the 50-mark that separates expansion from contraction. It was the first contraction in seven months. Read here
- Eurozone manufacturing data declined but topped estimates Read here
- US Factory Activity Edges up in May but Growth Sluggish: Markit. Read here
- ISM’s Factory Index fell to 49 for the first time in six months and missed the Street’s estimates for 50.7. It is also below the boom/bust level of 50, signaling contraction.Read here
- Construction spending In the US rose 0.4% to an annual rate of $861B in April which missed the Street’s estimate for a gain of 0.8%. Read here
- Australia’s Central Bank left the door open for further easing Read here
- The Bank of Japan may hit their self-imposed limit to purchase REITs. Read here
- Australia’s GDP grew by 0.6% in Q1, missing the Street’s estimate for a gain of 0.8%.
- Markit’s Eurozone Compositge PMI, which measures business activity in the eurozone, rose to 47.7 from 46.9 but remained below the boom/bust level of 50. Read here
- ADP said US employers added 135k new jobs which missed the Street’s estimate of 165k. Read here
- Factory orders rose 1% in April but unit labor costs slid -4.3% while productivity rose 0.5%. Read here
- The ISM service index ticked higher in May to 53.7 from 53.1 in April Read here
- The Fed’s Beige Book said the economy experienced modest to moderate growth Read here
- The Bank of England (BOE) and the European Central Bank (ECB) held rates steady and left the door open for more easing, if needed. Read here
- Mario Draghi said the ECB is technically ready to lower rates in to negative territory and said he will maintain an accommodative stance for as long as needed. Read here
- In the US, weekly jobless claims fell -11k to a seasonally adjusted 346k which barely missed the Street’s estimate for 345k. Read here
Chart of The Day: The Tapering Story Is A Bunch of BS!
Written By: Garyk
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Jun•
07•13
Affects minimal- don’t let them snow you. They will still be printing a ton of money.
