Gary Kaltbaum is an investment advisor with over 18 years experience,
and a Fox News Channel Business Contributor. Gary is the author of
The Investors Edge. Mr. Kaltbaum is also the
host of the nationally syndicated radio show "Investors Edge" on over 50 radio
stations. Gary is also editor and publisher of "Gary Kaltbaum's Trendwatch"...a
weekly and monthly technical analysis research report for the institutional
investor. If you would like a free trial to Gary's Daily Market Alerts
click here or call
888.484.8220 ext. 1.
Hillary Clinton:
"Over the years, you've heard plenty of promises, from plenty of people in
plenty of speeches. And some of those speeches were probably pretty good. But
speeches don't put food on the table. Speeches don't fill up your tank. Speeches
don't fill your prescriptions or do anything about that stack of bills that
keeps you up at night. That's the difference between me and my Democratic
opponent. My opponent makes speeches. I offer solutions."
I have news for you Hillary. Presidents don't put food on the table.
Presidents don't fill up tanks. Presidents don't fill prescriptions and
presidents do not pay off people's bills.
I receive anywhere between 50-100 emails every night. Most ask whether I like
this stock or that stock. I can actually tell the mood out there by whether the
emails are asking whether to short the market or buy the market. An interesting
thing has happened over the past couple of weeks. Very simply, people are
changing their mind every other day. I am being asked about shorting on monday...and
those same people ask me what to buy on Tuesday...all because Tuesday was an up
day. This is the type of undisciplined thinking I have been trying to get people
away from. If you want to own 3,000 stocks and never told when to sell, I could
tell you where to go. If you want to just throw things against the wall hoping
they stick...this is the wrong place. If you want a strict set of rules and
disciplines, this is the place to be. For starters, do not let the daily swings
drive you up a wall. It is in the major trends that you make or lose the bucks.
Learn the major trends and you are way ahead of the rest. It is any wonder
prozac sells so well.
Right now, markets are chopping in a trading range a little above the recent
lows. No one knows whether recent lows were A low or THE low. All we can do is
to interpret what is happening now. Very simply, the tape remains a mess with a
clear lack of leadership. That does not mean we do not work our way higher. What
it does mean is that unless leadersip shows up, forget about an extended move
up. Markets need leadership...and they need volume to back that leadership. On
top of the lack of leadership, moves to the upside have not been backed by
volume...calling into question whether any move higher is backed by the
institutional crowd.
If you had to be invested, here are the few areas that are showing good
relative strength. Just beware that if there is another leg down, anything
sticking up in the air...will get cut down eventually. OIL & GAS EXPLORATION,
GOLD, FERTILIZERS, COAL, AGRICULTURE and a few COMMODITY names... and that's
about it. Good luck if you choose.
Near-term, anything can happen. But with England bailing out Northern
Rock...with the saviors all over the moronoline...I mean monoline insurers, we
could get some pops on "happy" news. Just take your time. Leadership needs time
to show up...and I do not mean in one or two days.
Gary Kaltbaum
