Investor's Edge with Gary Kaltbaum - Out with the old? [08.13.2025]

Episode Date: August 13, 2025

https://garykaltbaum.com/

At CVS, it matters that we're not just in your community, but that we're part of it. It matters that we're here for you when you need us, day or night, and we want everyone to feel welcomed and rewarded. It matters that CVS is here to fill your prescriptions and here to fill your craving for a tasty and, yeah, healthy snack. At CBS, we're proud to serve your community because we believe where you get your medicine matters. So visit us at cbs.com or just come by store. We can't wait to meet you. Store hours vary by location. Investor's Edge with Gary Kaltbaum. Straight talk about you and your money. Now from the BizTalk Studios, here is Gary Kaltbaum. And welcome once again to Investors Edge. I'm Gary Kaltbaum,

your host. A thanks for being with us today. Glad you here, ladies and gentlemen, happy that you are listening. It's Wednesday, August 13, 2025. Hope you're having a good day. Ladies and gentlemen, what we are here for is serious talk on everything that affects you. We'll do the markets, and we have a lot to say on the markets today. I mean a lot to say on the markets today because the jello is moving on the plate. Take a plate. You know what I mean. We'll do the economy, your job, your industry, anything that's emanating out of D.C. Just sheer insanity. We'll get to that in a minute. If you don't get this show in your city, we'll post it at garyk.com.

We'll post it on our X feed. And if you don't follow us X, you should. If you'd like to email me, just be nice. A little update. As we have told you, my father is going on 94. Two months ago, I thought it was party. We were in the hospital. He was not, he had pneumonia.

Very often at that age, you have pneumonia. Look out. Rabbi comes in, doctor looks at me. Next day the pneumonia goes away. But what's happened recently, and I've heard from many of you, just deterioration. And it's very tough. You know, it's funny. What I'll tend to do is I'll Google the words, life expectancy of a male in the United States.

And I look at 78 and I say, big win. He's going to be 94. Doesn't help. My brother, he was home. My brother took him to the hospital today. He'd rest in comfortably. But, you know, lost a lot of weight, lost a lot of energy. and I'm going to be running up there.

And that's that. I wasn't going to do the radio show today, but I felt it necessary because we are here for you. We're here for us also. And by the way, doing the radio show is therapy as far as I'm concerned. And when we say to you,

there's a lot of jello moving on the plate in the markets. We mean it. So we want you to listen carefully. In no particular order, well, actually, in a particular order, yesterday we came on the show and said pretty much that the broad market we thought woke up. We have been whining, complaining to you about how the meat of the market, was just doing nothing. How the transport, you know all the areas.

And yesterday we had stated to you, we thought the rest of the market woke up. And when we mean the rest of the market, it's what you haven't heard about. The housing, housing related. Transports, they're getting hit hard. economically sensitive stuff, you know, the things that really are attached to the economy, some retail, our stuff page, small caps.

We have been telling you, we have this one screen, and they're not small caps, but they're small caps and, and these are all kinds of stocks that have been in bare, bearish mode, bearish phase, downtrends, weak. Yesterday, we recognize two things, and you never know the next day. You just, you go with what you see. We think we have decent eyes. And of course, when wrong, we're wrong fast and wrong small, never lose big. And two things happened yesterday of note. Strong. Small caps and midcaps. And as you know, we have stated to you, and this is of the import, the Russell 2000 had another good day today. 2%. Not the biggest the deal, but 2%. And it's important to note the Russell 2000 at the close today, even with this rally up off of April and this little rally the last couple of days. is training where it did February of 21?

Four years, four and a half years, let's call it. And the old high 2466, it's 2328. So still off the old highs while many things are at highs. Russell 2000. So we said to yesterday we thought that it had woken up and yet another good day today. in fact closed yesterday on the Russell at the day before 2216 we're 2328 already 112 that's about 5% in two days a little more than 5 right and why does the Russell go up 5% well they're smaller they're less liquid both up and down so that's number one but number two also was the

home builders slash housing related. And full and fair disclosure, we always do to you. We tried it a few weeks ago and got stopped out because bottoming processes are not easy. But we have stated to you, we don't state this often that there's a gentleman by the name of Stan Weinstein, one of the greatest technicians of all time. He has this stage analysis. On top of what we do, breakouts, things like that, he has the stage analysis where stage one is after a bare market, you start bottoming, which means you stop going down and you sit around for a while. And then you go in the late stage of stage one, which means you're starting to turn up, but.

And then you head into stage two, which means you're starting to ascend. And then there's, I know this sounds crazy, 2A and 2B, which means you're really getting going. and we have been telling you the housing-housing-related have been better. And the volume patterns have been pretty good. And we got stopped out. Small loss, not the end of the world. Well, we think today that stage two got really confirmed today. And what we mean by that is if you look at the chart pattern,

not only bottoming and starting to curl up, but starting to really turn up. Whether or not it lasts a lot, I don't know. You just never know. You just go with the patterns you see. So the home builder's very strong day today. The home builder related stocks, very strong day today. And what we mean by that? You ready?

Home Depot. I think we mentioned Home Depot to in the last few days. Their numbers are not good. Their earnings are not good. Their sales are not good. Their sales are not good. Restoration hardware. William Sonoma.

Just things you put in your homes. Pool Inc. Which is simple pool. Mortgage-related homes. And how about the mobile homes? Also. Strong day today. How about 4%.

on those areas. And we're not just talking the builders like Eleanor, but the construction of the homes, as well as what you put in them. What's going on? Well, the 10-year yield dropped today to 4.24, but they have this little betting thing or analysts say there's a 99% chance of a rate cut,

excuse me, in September, people talking about a half point now. Now, whether or not that happens or not, I don't know. All I can tell you, the market's making a big bet. Advanced decline figures yesterday, very strong. Advanced decline figures, again, very strong today. Why? Because the rest of the market's getting bought, but on the other end of the spectrum, meta, down nine and change, Microsoft, down nine and change. Oracle down 9 and change.

Catching the drift. Broadcom down 5 was down 8. And I can list others, but you get the point. Netflix down 20. Money flowing out of mega into the rest. Not 100%, not everything, but the rest. Up next, we'll continue along these lines. Lots to cover.

I'm Gary. This is the one only investors. 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

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Investment Advisory Services offered through Call Bomb Capital Management. Hi, I'm Dr. Jake Goodman, host of Beyond the Script, the podcast where I sit down with pharmacists to answer the health questions you didn't even know you could ask at the pharmacy counter. In this episode, we are diving into gut health with CVS pharmacist Victoria Motola, who explains why so many of us live with stomach issues we should not accept as normal. A lot of what I see is just like chronic bloating, chronic stomach aches. Like I get a stomach cake every time that I eat. And it just becomes like a lifestyle where, oh, yeah, you know, I just have a stomachache every day. Or I'm constantly feeling like gassy. And all of those things are

not something that generally, if you have a healthy gut, you should be living with. So that's when we deep dive. We deep dive into your medication. We deep dive into your OTC medication. And then at that point, we can probably identify something that we can change. Here the full conversation, plus some fascinating facts about how gut health affects so much more than just your stomach on Beyond the Script, a podcast from CVS Pharmacy and IHeart Radio. Listen now wherever you get your podcasts. For delicious meals, you could go out to eat or spend hours in the kitchen. Or you could just make a Marie Callender's meal. Yeah, you heard me. Marie Callender's classic chicken Parmesana bowl is delicious with scratch-made marinera sauce, creamy,

mozzarella cheese and no preservatives. It's high in protein with 30 grams per serving. Marie Callenders, what having it all tastes like. OnDEC is built to back small businesses like yours. Whether you're buying equipment, expanding your team, or bridging cash flow gaps, OnDex loans up to $400,000 help make it happen fast. Rated A-plus by the Better Business Bureau and earning thousands of five-star trust pilot reviews, On-deck delivers funding you can count on.

in minutes at on deck.com. Depending on certain loan attributes, your business loan may be issued by on deck or celtic bank. On deck does not lend in North Dakota. All loans and amount subject to lender approval. 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. And well, to Investors Edge. So again my screens are a lot of green except for the mega caps. Apple was up that's because of the tariff thing but also they came after a bunch of the things that were working contract manufacturers something like a GE in the aerospace the data center power

electric companies and the like. So a lot of jello moving on the plate ladies and gentlemen And with the, understand this, with the Russell 2000 up about 2% today, the NASDAQ 100, flat. With the Russell 2000 up 2%, and the Dow up 1%, the S&P, was up 3 tenths of a percent. In the Dow today, there are two names that are housing related, for the most part. Home Depot, Sherwin Williams. They accounted for 150 Dow points, between 140 and 150. Two names. And as we said yesterday, United Health looks like it may have woken up.

That was 65 Dow points again today. And they bought up the worst stocks in the market today like Salesforce.com. That's in the Dow 5 points. So strong day for the Dow also. percent, but NASDAQ 100 hardly budged. NASDAQ was up 0.15. Mega caps got hit. Change of complexion.

We'll see if it continues, don't know if it continues or not. Things like the United Rentals was up another couple of percent today. And as I look at my screen, Sherwin Williams, United Rentals, W.W. Granger. These are your movers. The transports, Union Pacific, Ryder, Old Dominion. We told you about the retail, especially what goes into homes. But retail had a good tone. Oil's bounced. And we mentioned United Health. And again, if that gets moving, China was strong. In fact, very strong. strong overnight. Alibaba broke above a little range.

F-U-T-U, I think, hit new highs. Ten-cent, T-C-E-H-Y, new highs. My worst screen bounced. Some of the worst stocks in the market. Bounced. Why? Markets going elsewhere. How long it lasts, I don't know.

And as I went through, what I mentioned, Home Depot, earnings down 3%. What I mentioned, lows. earnings down 5%, and revenues down 2%. So this is interest rate related and a pretty interesting move away from some things and into other things. And as I mentioned again,

the housing-related ETFs, the small-cap ETFs, which have underperform big time, the mid-caps had enough good day today. That's MD Y you can look at. And just this other what I call stuff. Now that didn't mean growth wasn't okay. The semis are economically sensitive. So you had some good moves and there was some news on AMD that had it up nine bucks. AMD gaped down on earnings and right back up. So the semis were okay today. And most importantly again, great advanced

declines. Now, as always, just a few things I want you to continue to be careful about. Remember what I told you about the recent initial public offerings? What do we tell you? Just so you know they're opening them up hot and then they're cramming them, meaning $30 stocks are opening up at $100 and closing at 90 and a week later that's 50. I'm just giving you an example. We mentioned some of the names. Well, they came out with another one today, and we hope you listen. There's a company, the name of the company is bullish. Just bullish. B-U-L-L-I-S-H. It's out of the Cayman Islands. It's an Cayman Islands-based digital asset platform that provides infrastructure and information services. another crypto. I went to their website. I cannot figure out their numbers.

Normally, you go to one of these websites and you get numbers. I go to Investors Relations. I'm looking for numbers. Well, it says publish the initial public offering. Files registration three weeks ago. I'm looking for numbers. numbers. I don't see any numbers, but it's crypto and this and crypto and that.

Usually I'd get a 10K, 10Q, and all that crap. I don't see it. Ooh, SEC filings. I got an S8. Now, all I see is securities registrations. So I can't tell you if they have earnings or sales, what have you. That is not a commentary on the company. I am going to talk about the stock. $37 deal within a minute of the opening. It was $118. But that'd be nice if you had the $37 stock. Opened it $118. Closed at $68.

Anybody who bought today lost their money, and as I see it, it closed on the lows. That is correct. So are warning shot still in place? And I will check these companies out, especially this. I want to know, do they have numbers? Do they have sales? Do they have earnings?

What's the deal? Because we always worry about stuff that comes public that may or may not be less than stellar. And again, this is not a comment. I don't have facts just yet. What I do know is as a stock again, as a stock again, a hot open gets yonked. Huh. What's funny is I see audited financial statements and I try to click on them and it does not let me in the last one show in 20203.

Hmm. I'm still looking. I'm Gary. This is the one only Investor's Edge. Hi, I'm Dr. J. Goodman. of Beyond the script, the podcast where I sit down with pharmacists to answer the health questions you didn't even know you could ask at the pharmacy counter. In this episode, we are diving into gut health with CVS pharmacist Victoria Motola, who explains why so many of us live with stomach

issues we should not accept as normal. A lot of what I see is just like chronic bloating, chronic stomach aches. Like I get a stomach ache every time that I eat. And it just becomes like a lifestyle where, oh, yeah, you know, I just have a stomach kick every day. Or I'm constantly feeling like gassy. And all of those things are not something that generally, if you have a healthy gut, you should be living with. So that's when we deep dive. We deep dive into your medication. We deep dive into your OTC medication. And then at that point, we can probably identify something that we can change. Here the full conversation, plus some fascinating facts about how gut health affects so much more than just your stomach on beyond the script.

a podcast from CVS Pharmacy and IHeart Radio. Listen now wherever you get your podcasts. For delicious meals, you could go out to eat, or spend hours in the kitchen, or you could just make a Marie Callender's meal. Yeah, you heard me. Marie Callender's classic chicken parmesan bowl is delicious, with scratch-made marinera sauce,

creamy mozzarella cheese, and no preservatives. It's high in protein with 30 grams per serving. Marie Callenders, what having it all tastes like. OnDEC is built to back small businesses like yours. Whether you're buying equipment, expanding your team, or bridging cash flow gaps, OnDex loans up to $400,000 make it happen fast. Rated A-plus by the Better Business Bureau and earning thousands of five-star trust pilot reviews, On-Dec delivers funding you can count on.

Apply in minutes at on-deck.com. Depending on certain loan attributes, your business loan may be issued by On-Dec or Celtic Bank. on deck does not lend in North Dakota all loans and amounts subject to lender approval. 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. Yeah, so I got some financials and I'm reading digital asset. I don't know if that's a sale or not. You know what? We're going to wait till I get more. info before I yap away on this. But the most important thing is be careful about hot

opens and IPOs right now. It's not the first, it's not the last, and we don't want you to lose your arse. This was yapped about when it opened today. 118. Closed at 68. That's 50 bucks on 118. I'm going to call it 45% give it take a couple percent. Catch the drift. Main points again. Big move the last two days into small caps from large. I know the Dow's up, but that's the big move into other stuff, down and out, and even United Health, which if you have been a shareholder, I'm happy for you. And in case you don't know, United Health this week is up, um, times six, about 150 Dow points itself. And it's Wednesday.

Other managed care stocks are bouncing. Keep in mind, it's still down about 55% from April, which is quite the humbling, may I state for the record. Anything else that sticks out? I think I explained it pretty darn good. again, when these moves start to happen, when they happen, we just don't know how long if they're going to last or not. We told you that the small caps got going a couple of times last year and just got kicked in the teeth.

Got kicked in the teeth. I'm being asked a lot about Ethereum, just letting you know they're playing catch up to Bitcoin. And I do believe the Bitcoin, at least the ETFs. Let me see if they finished at the highs today. Yes, the I-B-I-T finished at the high and the GBT, yeah, finished right at the highs. So new highs on the Bitcoin, the crypto, but they tell us there's no bubbles. Okay, we'll see how it plays out.

Just remember, crypto drops 75% in the last bare market, but leave no doubt when you have a finite amount of whatever it is. and now you're getting the administration and his family neck deep in it and you have a guy at micro strategy borrowing money and issuing stock to buy more which by the way that's a lagging stock uh it's new highs today on the crypto and that's that interest rates came down today that's good news oil prices came down mortgage rates ticketing a little bit down a lot of people are talking about housing and I think some people are missing the point of what happened. Let me explain to you again. The president is ripping J. Powell for not lowering rates right now, but J. Powell really hasn't done anything wrong right there. He could be a quarter or a half point. The president,

as usual, loves finding an enemy and putting him front and center, just like he did with that woman at the Bureau of Labor Statistics. She's probably got death threats because he said she cheated and rigged it, which pisses me off. But we move on. J-Pow, where he screwed up big time. Just remember what happened with housing. He took rates to zero. You got 3% mortgages. You got to refinance down to 3% and under. People buying homes, 3% and under. What did that do? It unleashed the price of housing. So housing went kind of vertical for a couple years during COVID. And after COVID, vertical, which ended up with fantasy land prices. And at the same time, fantasy land prices, who the hell wants to sell?

Why would I sell a home that I have a 3% mortgage? Oh, by the way, it's now seven. So a lot of that went on. But now people wanting to sell. But they're putting them up at fantasy land prices. So what's happening right now, especially where I'm looking at a lot of places, everything is a lowered price. prices are coming down days for sale are going up where it lands i have no clue how it lands i have no

clue i am just telling you i still see people trying to sell homes 50 to 100 percent higher than two years ago good luck i've seen some homes sold i've seen it but for the most part sing a lot not and I'm also saying a lot of homes now starting to come off for sale because they weren't getting their price. So we'll keep you informed. We keep hearing all this talk of affordability, which Jay Powell's fault. What did I tell you what happens? When you rig markets, you end up with lots of distortions when all set and done. We have a distortion in the home market.

I feel bad for people wanting starter homes right now. You're paying up if you're buying. and your mortgage rates are a lot higher than they were. Because of Jay Powell. If he would have left well enough alone, affordability would be much better. Now, do I think it can turn into an 08? I'm not there.

And we've told you that. I'm not there. My guess is no. But we'll keep advising as more cards come out of the deck. I got asked about CoreWeave. This is one of those hot IPOs that did have a good run, was down $31 today,

down 21% on their earnings report. Well, first off, it rallied up beforehand, but just another company that loses money. With strong revenue growth, by the way, cloud platform for accelerating general whatever AI. Just let you know. I got asked by on CRCL also,

the Circle Internet, loses even more money. That was down 10 today. Well, they did a secondary, or they're doing a secondary. That's putting more shares on the market, a big selling shareholder. Cashing out. We'll let you know if we start to see a lot of secondaries. You don't want to see a lot because that's more stock being put on the market.

We shall see. But my big point on the IPOs again, be careful of the hot stuff. And by the way, I haven't mentioned a bunch. I did mention fig. They had it up the second day at $145. Eight days later, it's 81. That's over 40%. So just watch your P's and Q's.

If you buy into frenzy, how about E-T-O-R? Came public. had it 80 bucks in June it's 48 today want me to do more I'm just going through a couple as I speak MNTN that's not called Mountain it's just MNTN transform connected TV into next generation performance small company loses a bunch of money that was 32 bucks four days ago it's 23 today as they announced another big loss. 32 to 23.

What is it? About 28% right? See where we're going with this? SLDE, they had it at 26 bucks in June of 15 today. And again, we are not ribbing the companies. We are talking about what's happening in the stock market when they're putting out some hot IPOs. You are getting kicked in the teeth if you buy into the frenzy.

How about white fiber? just came public four days ago, right? Hit a high at 25 at 17. Yeah, we know what we're... Remember, everything we do, everything comes out of what the market's saying. And again, the market today said something about coming out of some of the mega caps and boy, oh boy, two days in a roll of small caps,

and the housing and housing related and the stuff and strong advanced declines and all that hey lastly cisco systems reported in the aftermarket was one of the greatest stocks of the 90s um it's been acting very well by the way closed at 7040 i got it at 68 80 up down a buck 60 whoop he do Hey, up next, news of the day, whatever else. This is the one only investors' edge. Hi, I'm Dr. Jake Goodman, host of Beyond the Script, the podcast where I sit down with pharmacists to answer the health questions you didn't even know you could ask at the pharmacy counter.

In this episode, we are diving into gut health with CVS pharmacist, Victoria Motola, who explains why so many of us live with stomach issues. we should not accept as normal. A lot of what I see is just like chronic bloating, chronic stomach aches. Like I get a stomachache every time that I eat. And it just becomes like a lifestyle where, oh, yeah, you know, I just have a stomach ache every day. Or I'm constantly feeling like gassy.

And all of those things are not something that generally, if you have a healthy gut, you should be living with. So that's when we deep dive. We deep dive into your medication. We deep dive into your OTC medication. And then at that point, we can probably identify something that we can change. Hear the full conversation, plus some fascinating facts about how gut health affects so much more than just your stomach on Beyond the Script, a podcast from CVS Pharmacy and IHeartRadio. Listen now wherever you get your podcasts.

For delicious meals, you could go out to eat or spend hours in the kitchen. Or you could just make a Marie Callender's meal. Yeah, you heard me. Marie Callender's classic chicken parmesan bowl is delicious with scratch-made marinera sauce, creamy mozzarella cheese, and no preservatives. It's high in protein with 30 grams per serving. Marie Callender's what having it all tastes like. On Deck is built to back small businesses like yours.

Whether you're buying equipment, expanding your team, or bridging cash flow gaps, On Deck's loans up to $400,000 make it happen fast. Rated A-plus by the Better Business Bureau and earning thousands of five-star trust pilot reviews, On-Dec delivers funding you can count on. Apply in minutes at OnDec.com. Depending on certain loan attributes, your business loan may be issued by On-Dec or Celtic Bank.

On-Dec does not lend in North Dakota all loans and amounts subject to lender approval. You're listening to. What are we waiting for? Well, what are you waiting for? One, two, ready, go. Action! In the Gester's Edge.

With Gary Culpe. All right. Hey, just every now and then we get facts and figures. It's not hard to figure out whether something's expensive or not, you know. So we got another one today. Just letting you know the history of financial markets has never seen this before. The S&P 500 technology sector price to sales ratio is now 10 times, the highest ever. even at the 2000.com bubble peak the ratio was only 7.8 times. Just let you know.

Something to have in the file manager. We just wanted to let you know. Also, you know who Schiller is, right? The Schiller PE, forward PE and all that stuff, book value thing, is back at a year 2000 high. just letting you know. We also want to let you know. You know what a leveraged ETF is, right? Exchange traded fund where you can do doubles and triples.

You know that, right? You can do triple S&P, double S&P. And by the way, I don't think they've kept their end of the bargain just so you know. What I mean by that is, well, they're telling you it's supposed to move two for one or three for one. And very often it doesn't. But I digress. leveraged equity ETF, the assets,

has climbed to $119 billion at the end of July. The highest on record, Morning Star Records going back to 1993. Meanwhile, that's betting on the upside. Meanwhile, inverse ETFs, betting on the downside, drop from a $22 billion peak

in 22, down to 12.5 billion. So big bets on the upside and bets on the downside, not many. The S&P 500's price to peak earnings ratio has moved up to 26.7, its highest level since 2000, and over 55% above its historic median, the average. So we're just letting you know valuations, trees. I've seen them go higher. I remember in 98 valuations were in the trees, and 99 to the upside until we topped in March of 2000. And we're not saying this to scare you.

We're saying it to give you facts. The market's acting fine. It's now broadening out. Selling off some other things, though, but broadening out. out. But this has come upon my little desk and we thought you should know, but I'm not done. The NASDAQ market cap relative to US GDP hit 105% an all-time high. It is nearly doubled since the 22 bare market low. and now is 40 percentage points above the dot-com bubble. It's also a record relative to the world GDP.

Have I depressed the hell out of you yet? We just like state and facts, kids. That's all. That's all we're interested in doing. And we do it for us and we do it for you. And we will stay vigilant at all times. because combine what I just told you with the froth and speculation and some weird stuff, I'm seeing $15 billion market caps on no sales companies.

15 bill. Yeah. And that's a little bit of everything else. I'd love to do in the news, but there's so many things that are so weird out there. I'm going to leave that alone. for me, from all of you, really appreciate the kind words and the emails. I can tell you the emotions I have gone through are new.

Last year, Thanksgiving, my mom passed. So appreciative, 91, my father's 93. Still kicking, though. Just heard from my brother during the break. But I have to tell you, All of you that have emailed have helped me out. Because we all go through life and experience new things, good, bad, and different. Life, death, my just kind of new grandson a year ago.

It's just, you know where I'm coming from, right? And of course, as you get older, it gets tougher. but I'm appreciative. You all been pretty darn cool. I can promise you that going forward, we're determined, well, hopefully my father lives to 105. Just letting you know we're going to continue to work our butt off. We'll continue when wrong, be wrong, fast, be wrong, small, when right, try to let them run.

Try to have a good eye on everything without any agenda, ulterior motive, or bias, take on all comers. As you know, we hit them hard. Doesn't matter whether they're Republican or Democrat. Oh, by the way, July's deficit was $291 billion. They were telling us how great things were because the month before there was a surplus. But I didn't hear them talking. Those same people were not out today talking about $291 billion deficit for the month of July.

I want you to all remember that. The people that are in the tank don't care about you. They care about protecting their side, such as life. We're through a lot of earning season. It's going to quiet down. We keep being told that August and September are bad, but may be bad for some areas right now, but the broad market coming on.

If anything changes, we'll let you know. You all have a great evening. drive carefully. When you get home, do like I do. Well, as soon as I get up to the northeast, I'll be giving the dad a big hug and my brother, who's been doing a ye-alman's job. Make sure you hug your children also. Have a good evening, everybody. Really appreciate you. Good night. This has been Investor's Edge with Gary Cult Bomb on BizTalk. To listen to past episodes or to get in contact with Gary, go to Gary K.com. That's

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