Latest Posts

NOT MUCH HAS CHANGED!

newsletter_placeholder

NOT MUCH HAS CHANGED!

As we enter the meat of earning’s season, as the ECB continuing to crush their own currency and even with the strong week, the motto is simply “not much has changed!”

The tape continues to remain split. The tape continues to be close to a 50-50 market in where bull and bear markets lie side by side. So with major indices
popping back up into the middle and in some cases, the upper end of this recent range, let’s break the areas down.

We remain bearish on a long list of areas that frankly, many we have been bearish on for months. These groups are:

ENERGY,OIL&GAS,SOLARS,STEEL,COPPER,ALUMINUM,COAL,GAMING,REGIONAL BANKS,MONEY CENTER BANKS,AUTOS,CONSTRUCTION MACHINERY,INDUSTRIAL MACHINERY,INSURANCE,
BUILDING-CEMENT,RAILS,APPAREL,TRUCKING,BROADCASTING/MEDIA,HIGH YIELD, BRAZIL, RUSSIA and OTHER COMMODITY-BASED COUNTRIES, EMERGING MARKETS.

On the bullish side:

AIRLINES,BIOTECH,REITS,UTILITIES,PHARMA,RETAIL-HOME IMPROVEMENT, DRUG STORES, SUPERMARKETS,BEVERAGES,FOOD,TOBACCO,HOUSEHOLD PRODUCTS,ALCOHOL, DEFENSE,
RESTAURANTS,MANAGED CARE, CRUISE LINES.

A few other notes:

SEMIS are now mixed as a few names have broken down.

GOLD and SILVER continue to emerge but near-term started to pull back on Friday and thinking there is more work to do as they ran right into resistance.

FINANCIALS did bounce during the week’s rally but no change in the stance.

We have warned you to the numerous amount of “no sales” BIOTECHS that have been taken public recently. Investors have shown no regard to value as they
rammed these names ever higher. It feels like air is finally being let out so careful time. Remember, if we ever enter a bear market again, precedent
shows these companies could have a rough time of it as bear markets knock down all the curtains.


Rangebound to …

airlines

Rangebound to …

Markets have been rangebound for a decent amount of time. They remain rangebound but yesterday’s action took indices above the mid-point of that range with some areas breaking out. Let’s hope this is a precursor.

The ECB gets the credit as they are now going with another $1 trillion-plus of printing money and buying bonds…even though many of the bonds yield zippo and even less. Go figure.

A couple areas of note:

Many AIRLINES move out of range…some with volume off of strong earnings off of lower energy prices.

Leisure-type stocks also…we are talking HOTELS, CRUISE LINES and the like.

Big weekend report coming. You can watch me on Fox News Channel’s BULLS AND BEARS at 10 am et on Saturday morning.


And they say Republicons are fighting!

obama

And they say Republicons are fighting!

SOURCE: http://www.dailymail.co.uk/news/article-2920816/White-House-aide-says-Obama-steamroll-Democrats-Congress-split-White-House-Cuba-Iran-energy-trade-just-DAY-combative-State-Union.html


What did he say?

ipo

What did he say?

Raise taxes on producers. Give to government. Government takes their tribute. Government doles out a wee bit. Yup…that’s going to help.  I can be long-winded and sarcastic but that puts it in a nutshell. And oh yeah…we must fight global warming. I mean climate change. THE GOOD NEWS! The Republicons are now in power so hopefully none of this nonsense gets done. Frankly, I wish they would all go away for an extended sabbatical.

Markets are awaiting the ECB’s move on Thursday in where they will print a crapload of more money in order to buy bonds that are already yielding zero or even less. Yup…that’s going to help also.

Markets are rangebound in where patience is important. The good news about sitting markets is that the next good move is more easily identifiable.  We are paying attention to biotech and semi leaders as well as a few restaurants as they trace out ranges to potentially buy off of. If they don’t move out, there will be not much to do.

Except for oil stocks starting to outperform the commodity, not much more to add. Just sitting and watching.

 

Hey…the Knicks won 2 in a row leaving them at a fabulous 7-36.

 


Amazing and poignant story!

survivor

Amazing and poignant story!

SOURCE: http://www.dailymail.co.uk/news/article-2919975/I-life-Poignant-moment-Holocaust-survivor-salutes-American-soldier-liberated-Nazi-concentration-camp-hell-emotional-reunion-70-years.html


Lots of jello moving on the plate!

jello

Lots of jello moving on the plate!

A few thoughts:
The ECB will announce more printing of money in order to buy bonds to keep interest rates down. But interest rates in many corners of Europe are at and in some cases are under 0%. So how would this move help?
The Swiss Central Bank dropped the pegging of the Franc to the Euro. Can you blame them? The ECB is determined to continue to crush their own currency. Sorry…I would not want to commit suicide with them. It is the Swiss that are acting rationally.
My prez is going to announce more of his socialist doctrine tomorrow night by announcing higher taxes and more giveaways.  For the umpteenth time, higher taxes do not affect the rich but do prevent the middle class from becoming rich. See a pattern?
You can blame Bostick for dropping of the onside kick but don’t blame him for trying to catch it.. Many pundits are saying he was supposed to block. Are you telling me a football player should duck when the ball comes right at him and into his hands?
Last week’s market action rates a big wow. Wicked swings culminating with a good Friday…but lots of jello moving on the plate.
Coming into last week, we thought financials were in trouble. Their earning’s reports just put a stamp on the ugly…but near term, felt a little sold out on Friday.
Let’s add housing into the trouble column off of bad earning’s reactions. The group was trying to emerge.
We remain bearish on a long list of areas. To review:
Energy
Oil & Gas
Steel
Copper
Aluminum
Coal
Rails
Gaming
Big Banks
Regional Banks
High yield bonds
The Euro and Yen
Emerging markets
Russia
Brazil
EAFE index
Machinery
Construction
Autos
Trucking
Apparel
Solar
We show the list this way to accentuate how many areas are suspect.
On the good side, things are starting to get defensive as the market is buying defensive in areas such as:
Reits
Food
Drugs
Beverage
Tobacco
Utilitues
Muni Bonds
Managed Care
Drug Stores
Supermarkets
Retail-Home Improvement
Gold and Silver continue to emerge.
Leading Biotech remains in good shape but getting a little more mixed as a few names go bye bye. Same for semiconductors.
As far as the major indices, all held support on Friday as they came down to December lows before rallying. It is vital these levels hold going forward. Those levels are:
Dow 17,265 and then 17,067
S&P 1988 and then 1972
Nasdaq 4563 and then 4547
Ndx 4078
Trans 8581
Lastly, a ton of earnings coming out the next few weeks. Pay attention!

Radio

thumbnail
Radio

Investors Edge – 01/23/2015 Hour 1

Investors Edge – Hour 1 Listen to todays show by clicking here.

thumbnail
Radio

Investors Edge – 01/22/2015 Hour 1

Investors Edge – Hour 1 Listen to todays show by clicking here.

thumbnail
Radio

Investors Edge – 01/21/2015 Hour 1

Investors Edge – Hour 1 Listen to todays show by clicking here.

Television

Newsletter

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.

Main Navigation