Investor's Edge with Gary Kaltbaum - Gapped [06.23.2026]

Episode Date: June 23, 2026

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Investor's Edge with Gary Coltbaum. Straight talk about you and your money. Now from the BizTalk Studios, here is Gary Coltbaum. And look once again to Investors Edge. I'm Gary Coltbaum, your host day. Thanks for being with us today. Glad you here, ladies and gentlemen, happy that you are listening. It is, you know, it's interesting.

Today's the 23rd. 23 is my lucky number. Most of my addresses throughout my life had a 23 in it, amongst other things. But it was not a lucky day today. I'll explain in a minute. Hey, this is a serious talk on everything that affects you. This is Investor's Edge. We'll talk markets, the economy, your job, your industry, the AI semiconductor stocks being smoked today,

tariffs, war, Alan Greenspan, I forgot to mention him yesterday, and whatever else comes to mind. And if you do not get this radio show in your city, we'll post it at garyk.com, we'll post on our X feed. If you don't follow us,

and X, just put our name in. If you'd like to email us, just be nice. You know what I love? Pretty much everybody is nice. I had a couple of, won't use the word on X, that I had a block. Anti-Semitic racist that I had a block.

But that doesn't happen that often. We appreciate your respect because we're going to respect you back unless you like Hamas and terrorism and terrorists and all that crap. Alan Greenspan passed away. I forgot to mention yesterday. I didn't realize he was still alive, died at 100. hundred. He outdid my dad. My dad was almost 94. He was a central banker, the head of the Fed, for a long time. And I must be honest with you. I don't remember the good and the bad with him, except that he was a lot better than Bernanke and a lot better than Powell and Yellen in between. I forgot Janet Yellen was in the middle. because he didn't hear too much.

And I'm hoping this guy washes the same. He did his quarter point here, quarter point there. He was a little too easy with the money also because they all are. But as best as I remember, he was calm, cool, collected, quiet type guy. He's known for this irrational exuberance that he was talking about in the market. and the market kept going for another year or two and then finally yonked, but passed away at 100.

I forgot to mention that yesterday. I humbly apologize. Ladies and gentlemen, you know what my favorite thing to do is is to tell you my bad. You know, we never lose big here. We have a state. thought process about losing too much money on any one stock.

And we've been fortunate, lucky, I'd say. The last time we were gapped to the downside was the mid-90s. I think it was 95. That'd be more than 30 years ago. Silicon graphics gapped down. on me, I think it gapped down like 22%, if I recall. Back in 95. Two weeks before the stock broke out because they had raised their numbers, and then they reported earnings and they missed.

And I do believe, I'm not 100% on this, so don't quote me. I think there was a class action suit. I don't know if anything came of it or not. but I it was 22%. I'm pretty sure it was about 22% I got gapped on. And since that time

I have never had a gap to the downside of note. I got gap for 10% on a stock from yesterday to today. Finished down on the day.

Give me a sec. And by the way, if you don't mind, I'm not going to mention what it is. finished down on the day, 7.54%. So, but it was 10%. And just so you know what happened overnight, Asia, not an album. You know, Asia was an album, you know that, right?

Had a very bad evening. The South Korean market has been very strong. Very strong. By the way, Asia was a rock group. Anyway, the problem with Asia, not Asia, the problem with the South Korea thing is their index, the Kaspi, two stocks are 55% of the market. And that being Samsung and a company called Hynix. and they got whacked overnight. On top of that, you got the Taiwan Index.

Taiwan Semiconductor is 42%. 42% of the Taiwan Index. And they got whacked. So we got whacked. Oh, not the Dow, but what's been working? That's the story today. and one of those stocks I owned, gapped 10%, finished down 7.5. Wasn't thrilled.

The Semiconductor Index, affectionately known as the Philadelphia Semiconductor Index, was down almost 8% today, down 1,152 points. Do you remember yesterday when I said, how was the NASDAQ down 3%?000, down 1,152 points? How is the NASDAQ down 350 in change, but the NASDAQ 100 only down 50 in change? And we pose the thought. It's because of how much influence the artificial intelligence stuff and semis had. And they had a strong day yesterday. Well, it was the opposite today. You ready?

The NASDAQ 100 finished down 99 points today. It was down at one time today to some about 1,070. The NASDAQ finished down 579. The Dow was only down 45. And you know it was up. Food and beverage,

tobacco, household products, insurance, a lot of the medicals. What's the story behind those areas? Very defensive. What do we mean by defensive? Well, oh, and the Dow names. Well, when the market sells off risk assets, it finds a place and it goes to the most boring, low beta, which means don't move crazy up and down. Defensive areas, food, beverage, tobacco.

I still don't understand anybody smoking cigarettes, but tobacco, household products like a Procter & Gamble. And that's what happened today. In the Dow, Johnson & Johnson was up almost eight. Merck was up four. What do they have in common? Yeah, you got it. Coke was up.

Procter & Gamble was up three. As I look, Hershey's up eight. Clorox up two. Philip Morris up five. Smuckers up three. Insurance travelers, up six in the Dow. And all state, up nine. They charge me a lot for my auto insurance.

Very weak medical as of recent, guess what? Mostly green. Including the pharmaceuticals that were very weak, mostly green. The market ran away from the semiconductors and the artificial intelligence plays, and today found a home in the defensive areas.

How long it lasts, how far it goes, I don't have a clue. I just know I was gapped 10% on a stock today, finished down 7.5 and boy, was I pissed. Hey, up next, what else we see in? In the market. I'm Gary. This is the one only Investor's Edge. Hi, I'm Gary Kalbaum, hosted a nationally syndicated radio show Investors Edge. We're not just handsome radio people. We manage investors' money for a living,

specializing in fee-based discretionary money management. No big commissions, just a fee on the assets that's managed. We also provide a full range of personalized services, including retirement planning, fixed income, and educational needs, all to assist you in achieving your financial goals. Understanding not all individuals have the same needs, we'll carefully evaluate your personal goals to determine a proper investment strategy. If your current approach to investing is not getting you to where you would like to be,

call us to make an appointment for a complementary portfolio review. The number to call is 888-4-5-59. That's 8-8-5-5-9. That's 888-4-22-55-9. investment advisory services offered through Coltbaum capital management. It's time to switch on the integrator units and get the brain cells working. You're listening to. Hey, this promises to be fun.

Investors Edge. The last bastion of quality programming. With Gary Coltbaum. It doesn't get better than this. All right, you ready for some numbers? Micron down 13% today. Down 160. Sand disk, down 13 and change today, down 310 bucks.

Seagate, down, actually, Seagate only down 5% today. Was down worse? I guess it rallied towards the close. Let me take a look to see if it did. Actually, around the 3 o'clock started rallying off better. Still was down 55 bucks. Western Digital down $62 or 8% today.

I mentioned the semiconductor index. And in the semiconductors, well, just remember some of these are very high priced. ASML down 150. 7.8. Everything I saw was down. 5, 6, 7, 8, 9, 10. Some things down 15.

And I got to tell you, there were a bunch of stocks setting up beautifully last Thursday, and a few of them broke out, and I didn't buy them because we're going into a holiday. They all tucked in like frightened turtles today, and I'm so happy. I could have owned about, you know how I said we got gapped 10% on one name? It could have been five, six or seven names if I got real active late last week. And I mean that, by the way. In the Dow, again, the Dow, you wouldn't know it.

But remember what I told you about how technology stocks have such a huge influence on the indices. You ready for this? The Dow was only down 45 points today. That's it. One tenth of one percent. Actually, I don't even think it was one-tenth of one percent. the Dow. The S&P was down 1.43%, which would be about 700 Dow points. The influence of technology, artificial intelligence, and all that. And as I'm looking, and when I say to you, things, yesterday,

Fix breaks above range drops $158 today, which is only about 7.5%. It's a high price name. That's just an example. Just letting you know. And I can give you a long list of them. Jumped up, tucked in. Jumped up, tucked in. And we'll see what happens tomorrow. where else did money flow today software now mind you a ton of the software stocks crashed in the last three or four weeks I don't know if you know this

but Salesforce dot com hit 211 the day was if I get it right I know I'm going to get it right June 1st you had two strong days in software Salesforce.com 211 to 153 since June 1st. And that includes today, it bounced. Microsoft since June 1st, 466 to 375.

And it was up six today. These are not fly-by nights. Oracle, that didn't even bounce today. You ready? I am not making this up from June 1st to today. Oracle has gone from 250 to 100. hundred sixty five dollars thirty some odd percent right eighty five bucks on two fifty you bet that's like thirty six percent I think right

SAP the big German one nine one ninety six to one fifty three how about that huh wow so just letting you know they bounce some software they're I have about 10 software names that have separated themselves from the others. I don't know if I trust them. We'll see. And then there's Palantir. Down another two today. That's gone from 163 to 116 in change from June 1st.

And New Yearly Low. And as we said yesterday, with SpaceX and Palantir, both. Valuations. There's nothing wrong with Palantir's numbers. Earnings are up 154%, revenue 85%. The next estimate is going to be another 100%. 286 billion market cap with $5 billion in sales.

That's why. And SpaceX is much worse. So valuations will matter and do matter. That's the story there. And speaking of SpaceX, interesting day, was 147 early, hit a high of 165.50. What a move. But then finished at 156 and change, up $1.46. Another wild swing day.

We still have no edge either up or down. but I do worry that many a pundit are, you know, much ado about nothing. Yeah, just go buy it. It's still a $2 trillion market cap with $18 billion in revenues. And I ask myself, what does it take for some of these people to realize how ridiculous this valuation is? and I say that knowing. I expect great things from this company through the years going forward. But at the present time, $18 billion in revenue and a $2 trillion market cap.

So just letting you know. Bitcoin, well, I can officially tell you it is down 50% from the all-time highs. 50% drop in Bitcoin. The other coin, there are some coins now 90. Nobody talks about that. And nobody even mentions Ethereum anymore, which is also gotten smoked. And as you know, we are complete of voids on those areas. We saw another pompous ass come out in the last day.

Oh, it's going to be $1.5 million. Great. I hope it does. That means people get wealthy. I don't mind that, but I mind ridiculous predictions. Hey, up next, what else? We got it. This is the one the only Investors Edge.

We're listening to America is talking. Investors Edge. He's got to be pleased with that. The crowd is just on his feet here. He's a Cinderella boy. With Gary Colbomb. It comes highly recommended. You're going to feel better if you talk to him.

And welcome once again to Investors Edge. You know, I do tell you I work out big time. I'm 65 now and I do not want to be a schlub. Lift weights. But I got to tell you, I realize something in the last few days. Any of you ever go on a stair master? I decided to do that because I want to get in shape of the oxygen part of it. The cardio part.

and what a great way of doing it. I do the sled with a lot of weights on it. Do you know at three minutes on the stairmaster? At a very slow speed, I have to stop. And I do the incline trainer, which is a treadmill with a nice incline. But what a difference, an inclined trainer from a stairmaster. At three minutes, I'm done. and I said to my wife

I'm going to do three minutes this week I'm going to jump it up to three and a half the week I'm going to do extra 30 seconds extra 30 seconds every week until I get it up to 20 because man oh man I am telling you I am telling you I am out of

what do they call that wind shape I got to clean that bad boy up All right, back on. Everybody's coming up with reasons why this happened today, the semiconductors, the AI got hit. Somebody said this, somebody said that. I saw something and I didn't understand it, so I'm not even going to repeat it. All we know is it has become a very crowded trade. What did I say to you in the last few weeks about narrowness and all.

the money coming out of everything and into that. What did I say to about what the portfolio managers are doing? They're getting in their meetings in the morning. Yo, Joe, why do we even own a restaurant stock? Why don't we own more of that? And what does that do? What does that do? It amplifies things and extends things. And it makes them go somewhat on the vertical side. until it doesn't. So I don't know if we've hit a moment or not. I don't know. I do know we got Gap today and tomorrow will be another day.

My best guess, some good backing and filling now. And then you got Micron after the close tomorrow. And by the way, estimates for Micron. for them to report tomorrow $20.76 versus $1.91. No, I'm not making that up. You ready for this? Estimates are to report $36 billion in revenues versus $9. You think their business has smoked to the upside to last year off of this whole memory storage thing, I'mabob?

the question is what's going to be the reaction the question is what's going to be the guidance and the bigger question is what's going to be the reaction Nvidia well I have bad news for the

Nvidiaites it really bad technical move today in the market. Imagine a drop from 1030 down to

4.30 and then a little wedge back up to the right. A little diagonal and then another drop. That's what NVIDIA did today and now it's sitting at 200 bucks. you really do not want to break the 200, which is a big number.

You have a 194.74.74 low in early May. We'll see. All I can tell you, it is, for me, a mystery. It is an absolute mystery for me that Nvidia can report four quarters of accelerating earnings and sales, and the stock can't get out of its own way. And in relation to the semiconductor index, it's like me in a race against Usain Bolt. Very weird.

And I've come to the thoughts, does it have to do with the controversial report I mentioned to you? About them funding entities to buy their chips? Or is it the fact that, a bunch of other companies have their own chips. I don't know. In any case, ew, down another $8 in change today, 4%. Down from $2.36 in change high in early May.

And in spite of, in mid to late May, they announced they're going to be working with PCs and the stock gapped up to $232, closed at the low of the day and has not seen the light of day since. I am surprised at what's going on there. Golden silver, no friends. China, no friends. The solars that were talked up, no friends.

The president's now talking up quantum crap. They did nothing today. IBM was up 12 because he mentioned. IBM. I think he said something about the CEO. The CEO's doing great and I think there's a quantum component there. So IBM up 12 and IBM's acting like a penny stock both up and down. The froth that we warned you about, another bad day. And the space stocks, another bad day.

SpaceX finished up today, but not the space stocks. Remember, very important, valuation matters. Do you know Rocket Labs, which is very touted? Today has a $58 billion market cap. It just dropped from 151 to 95, and at 95 as a $58 billion market cap, they do not have a billion in sales. Valuations. Want you to remember all this.

Mui importante. Because valuations with Palantir. SpaceX now. And again, SpaceX is new. And it's all about what somebody's willing to pay. If it wants to go back up, maybe it does. I don't know. And this has nothing to do with where there's going to be three years from now.

But valuations are going to matter. And last September, we warned you about the froth and speculation on the no sales companies. And guess what the no sales companies have done? They have been crushed. In spite of, and this is not a rib, but I'm making a statement, in spite of the president, executive orders on this industry and that industry and this industry and that industry, which I don't know what that means executive orders and what it

does, but all the stocks that were involved been crushed, especially the rare earth stocks. They have been blasted some of them. What's this one right here? Lithium name, L-A-C. Yeah, 11 down to four. In other words, be careful. The market is tough enough, let alone speculating in companies with no sales. I'm looking at one right now. that went from 3 to 11 off of the president getting involved. It's back to 4. And at 4 bucks has a $1.5 billion market cap with no sales. You got to pay attention.

Or else. Up next. News of the day and whatever else today. This is the one the only investor's edge. You're listening to What are we waiting for? Well, what are you waiting for? One, two.

Ready. Action. Investors Edge with Gary Culpa. And welcome once again to Investors Edge. In the news, boy, I'll tell you, as you know, we have this line. We hate them all, and that's all the politicians. You got the mayor of New York City saying A-PAC,

which is just A-PAC for Israel, are monsters. The mayor of New York. saying that, didn't that great? You got a coffee shop in Brooklyn, kicked out a Democratic congressman, I believe he's a congressman,

because he's Jewish, kicked him out. The Israel thing. It's amazing to watch. And of course, J.D. Vance, that schmuck takes on Israel about their blowing up apartments. you moron. That's going on. The president is out defending his reflection pool, reflecting

pool today. That's the important news today, yay. Back and forth with Iran on whether there's a deal or not. The president says Iran has promised not to get nuclear. Iran said, we never said that. Back and forth and back and forth, I don't know what to tell you. I would love if Ronald Reagan woke up and took over. That was Washington, D.C. going on right now. And I was looking how I was supposed to be in Europe this week, and I had to cancel. It's major league heat. Everybody's all upset in Europe because

it's very hot there. They're talking about 100 degrees in the UK. I'm sitting here in central Florida. That's an average day. Two words. Air conditioner. One word, pool. Another word, ocean.

That's how you fix it up. Anyway, that's all on that. Any big news comes out. We'll report it. But there's just a bunch of freaking weirdos from top down running the country. Let's get back to SpaceX. It feels like a bunch of you bought in the first couple of days. How do I know?

By the emails. I get phone calls from people. I guess they get, I don't know how they get my direct cell phone number. asking me about it. And what's interesting, the pushback, I had a couple of people insisting, I'm nuts, and I'm like, what do you mean? All I have said is

it's trading at this market cap with only this amount of sales. Well, you're not including this, that, okay? So why you're calling me? they want to hear me tell them everything's just going to be a okay and when I don't and I say I don't know

but I hope it goes higher I got a couple of people kind of P-Oed for saying I don't know we have no edge up or down we just want to be very repetitive on this

and I mean big time repetitive. When we tell you if this company was selling pipes, it'd probably be about $10 to $15, we mean it. But they don't sell pipes. And the fact is they do own Starlink, which is growing well. And they have the SpaceX, which we expect to do also. And XAI, to what extent I don't know there.

and I gather there's a lot of competition. The talk of what they're going to do, the predictions are gargantuan. There are certain people I respect in this industry. One of them is Ron Barron, and I watched what he had to say on an interview, and he's talking trillions. I hope he's right.

I just know about today. And we're not in a bare market for stock. What if? Remember the bare market rules. In bare markets, the curtains come down and valuations matter. Companies that lose money, guess what happens? Valuations out of whack, guess what happens? And we're not even in that.

So we're just letting you know, I hope it's goes higher. I'm rooting for it. But we as technicians have zero edge on a stock that's been out a few days and trading all over the map. We are hearing about guaranteed revenues that they already have. I believe it. I believe they'll double revenues, triple revenues, quadruple. I do. Will that be good enough? $2 trillion market cap with $18 billion? At a trillion in revenues, excuse me,

with $100 billion in revenues, which is more than fivefold now, you're still trading at 20 times sales. By the way, that's a high number. So we'll keep you informed when we think we have an edge on a technical basis, we will tell you. But right now,

throw a dart. There lies the story. I have no clue about tomorrow. Zero clue about tomorrow. All I know is I got Gapped today. Did bounce. And it was just rough going in semiconductor land. Of course, Mike runs up 17 bucks in the aftermorrow.

already after dropping 159. I've got is, oh yes, a sand disk is up 20 bucks after dropping 310. So it's one hell of a day and I'm short tomorrow too. You'll have a great evening, drive carefully when you get home to like we do. Quite simple. Make sure you hug your family. Make sure you hug your children. They will feel better. You'll feel better. I promise they will be well. Always thankful that you're listening. Peace out all. Good night. cult bomb on Biz Talk. To listen to past episodes or to get in contact with Gary, go to Garykay.com. That's GaryK.com.