Investor's Edge with Gary Kaltbaum - The dump [07.29.2026]

Episode Date: July 29, 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 welcome once again to Investors Edge. I'm Gary Colbom, your host day. Thanks for being with us today. Glad you hear ladies and gentlemen, happy that you are listening. It's Wednesday.

It's the 29th. It's 2026. Hope you are having a good day. Do not look at your 401 case tonight, please. We'll give you those numbers and just a few minutes. In case you don't know, in case you don't know, this is serious talk on everything that affects you. We'll do the markets, the economy, your job, your industry. The new central bank Fed head who thinks he can control a $30 trillion economy with 160 million people

getting up every morning going to work and trying to do better for themselves and their families. Yes, one man, another one that thinks he can control the world. I'll explain that also. What else are we going to do? Oh, we're going to do Fauci. Got a few emails on what I said yesterday. I knew that was going to come. Scam, shams, corruption.

Oh, oil prices. And what else? Iran sending ballistic missiles into to knock out. are bases in the Middle East, even though the president says, oh, they're calling me all day saying, stop, Mr. President, stop doing this to us. And as you know, he's a serial liar, but we all know that anyhow. And if you do not get this radio show in your city, we'll post at garyk.com, we'll also post on our X feed. If you don't follow us on X, you should. Just put our name in. We're quite charming.

comedic. If you'd like to email, just be nice. Be respectful. And I got to tell you, a few people email me, completely disagree with me on Fauci, but all respectful. And that's all we ask, because we'll be respectful back,

unless you like Hamas or a racist or like Al-Qaeda and all that crap. Okay. So the market's closing in seven minutes, So I'm going to wait to the close. But here's a story for you. Oil prices up $6, $7 today. We were told that by the president on video.

Oh, yeah, they call me. We spoke to them. And they want this to end. They want us to stop. They want this. They want that. And Iran says, we haven't spoken to anybody. and then last night Iran lobs ballistic missiles towards our bases in the Middle East.

Now, I'm hearing they were taken out. But they're still aggressive. And now the president is now throwing some four-letter words out there. Oh, we're going to blank them up now. And that remains to be seen because this president's been thought. threatening this, that, and the other thing forever. And by the way, it sounds like I'm not with him, but I am. As much as I'm not thrilled with him, he is the leader of this country.

I want great things to happen. I want this war to end. I don't want any of our soldiers dead anymore. We don't want any more injured. We want the straight, by the way, Iran said, screw you on the straight-of-hormoos. It's ours. Do something about it. Seriously, that's what's going on right now.

So oil prices backed up today. That didn't start the market out too well. And of course, we ended up with the Fed at 2 o'clock. And I just want to tell you what Wall Street tried to do. And as you know, I'm quite the skeptic on them, Wall Street. Did you notice in the past couple of days, a couple of Wall Street big banks said, oh, the Fed's going to raise rates today? They were full of crap.

What they wanted to do is stop the market from going down. So if they say the Fed's going to raise rates and they don't, supposedly that's a bullish thing. Anyway, just letting you know up front, the Fed did not do anything with rates. They left them where they were, and that's the right thing to do. Fed funds is at three and a half, three and three quarters. There's a dash there. And the 10-year yields at 4.6, they should definitely not be lowering rates like the president wants because that'll incite inflation. Just remember, I don't care what anybody tells you.

Inflation is a monetary thing. Inflation's always been caused by the morons at our central banks with too easy monetary policy. And J-PAL created terrible inflation with the printing of money and taking rates down to zero and buying up the bond market. And just remember, inflation came down when he stopped. I know there's the apologist and people on the right blame Biden. for the inflation because you've got to blame a politician. And they blame his spending. Well, the greatest spender ever is Donald Trump.

So why is inflation back up at 9% if he's spending more than Joe Biden? And had bigger deficits now than Joe Biden. It's because that's just a little part of it. It is really all about the morons at the Fed. and Jay Powell did the worst possible thing. He went nuts. And when we opened back up from COVID, he sat there instead of raising rates and stopping the money printing. He sat there like a doofus.

Anyway, that's the story behind that. So we got three minutes to the market close. You're not going to be happy. Would I have to tell you? And by the way, I'm surprised. why semis tech artificial intelligence those areas have been stretched extended and oversawed to the downside which lends itself to bounce and the initial reaction to the Fed his name's Kevin Warsh I believe yeah dropped a little but then we bounced pretty darn well and now we've just collapsed

into the close. The market has like a little bit of a collapse into the close. Now I will tell you, I don't watch these press conferences with the Fed. I didn't watch any of Powell's, but I get snippets. And the problem with this new guy, he sounds like Powell with a little more gibberish. And he also sounds like Powell in the form of, well, we can control inflation. No, they can't. You can't control the economy.

You can only screw up with inflation. Just leave the world alone. And stop. Just leave things alone. Let us be. As we said, 160 million of us going to work in every day. Great companies with medical breakthroughs and technological advancements. Come on.

Leave us to hell alone. But he sounds a little bit too control freak. Too much. We'll see. So I don't know what caused the market to have a little collapse into the clothes here. I really don't. I'm looking at all his quotes. It doesn't look like he said anything that bad. I don't see anything new on Iran.

But I got news for you. It's 359. I'm just waiting for 4 o'clock to give you the final numbers, and it's not thrilling. And let me repeat for the record. I'm very surprised. when we started rallying I'm thinking all right so we got some defense here and you know the the semiconductors is down 10% this week they got a bounce right right a lot of the artificial intelligence stocks have collapsed they got a bounce right well they started to and then

whatever happened at around three something or other market said night night let's see what time did it start going? How about right at 3 p.m.? Right at 3 p.m. So you're ready for the final numbers or not? You got a shot at tequila in your hand? Maybe. Dow down 11502. Leading the Dow down, Goldman Sachs down 52. Caterpillar, we told you a little AI component in there.

58. You ready for this? those two most important Dow stocks because of price are down $110. I take my abacus and I take 110 times. I'm using six and a half. That's the divisor for the Dow, but I know it varies. I'll use six and a half. That's 715 Dow points, just those two names.

But JP Morgan, guess what? That was down almost 13. Huh. Morgan Stanley down 12. What's going on with the banks all of a sudden? The NASDAQ was down 434 and the NASDAQ 100 down 570. Are you ready for this? At 3 o'clock, the NASDAQ 100 was up 180. It dropped 750 points in the last hour to the close. The Sox was only down 60 when we got the little rally. It closed down 588. It dropped 580. It dropped 5. 528 points into the close. And again, I'm surprised. Up next, what else? I got plenty. This is the one only Investors 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,

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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 cult bomb it doesn't get better than this so just letting you know I am looking around to see what caused that 3 o'clock move I can't tell I'm sure somebody's gonna say something well the reason why the market did this and did that and by the way meta and Microsoft after the close you ready for meta that ain't gonna be a help meta is down almost $40 in the aftermarket they missed estimates by a buck 618 versus 719 estimates revenues came in as expected they said

guidances looks flat well that's not going to be good news met is down close at 585 I got at 544 in the after market yay happy days and we're waiting on Microsoft and I have a crap load of earnings reports in the aftermarket and I also have and for the next week or so again I don't know why they clam the market but as you know we have been telling you how this broke this this broke that this and by the way any bounce would be a bounce in a near term to intermediate term downtrend and as I look, I must tell you, as I look at my screens of what things did today and how they finished, I just got to say, wow. Is that okay? Are you ready for some wow? Sandus closed at about a thousand.

The high was 2350 five weeks ago. Seriously. Seriously. Oh, here's another beautiful. QWT. Qualcomm closed at 155. I got it at 144. Oh, we're rolling now. Anyway, we're waiting on Microsoft. Who else is reporting? Lamb Research. Qualcomm, Robin Hood, Starbucks. I keep them in business. So let me give you some positives while the market kind of went for bluey today. Our retail names that we have told you that have the best relative strength, they looked in pretty good action today. Until the end of the day, they were up most of the day. I mean, when you drop 1150 Dow points, you're going to, you know. Restaurants. Had a good day. Cheesecake factory, up 11.

I have to tell you, I saw the breakout. I saw the weekly breakout. And I'm looking at cheese. I'm saying, look at those numbers. Stocks made a good move. New yearly highs in BJ's restaurants, Cheesecake Factory, Texas Roadhouse and Brinker International. Others not so good.

But here you got some restaurants, you got some retail. That's good. What else? Of note, that looks pretty good. Auto dealers. Well, you had one buy. out in Penske but lithium motors up $69 today by the way on a drop in earnings so I don't know what the hell's going on there but a drop in earnings just letting you

know you got me on that I don't know how a drop in earnings helps out and I'm just looking at earnings as they're coming out right now who Starbucks beat by a mile nice Starbucks is up nice in the aftermarket, another restaurant. And I was wrong on Starbucks. Remember? I freely tell you when I'm wrong. When Starbucks installed a new CEO, he said,

no, we're not lowering prices. We're the premier coffee outlet with whatever else we sell, and we are not lowering prices. I'm thinking to myself, what is he smoking crack? In this environment, and you're speaking out that way? you think people are going to go for that? Starbucks has performed.

And I also have to tell you they have fixed up places where I have a little apartment in New York City. There's a Starbucks. I walk out of my building and I go about 100 feet to my right. There's a Starbucks on the corner. It was never busy. They fixed the place. They just fix the place up nicer. Places now packed most days.

So the CEO, whatever he's doing, I got to tell you, it'd be working. Good on that. Cracker barrel on the other end, by the way, they finally got rid of that CEO. She resigned, whatever you want to call it. And I think Cracker Barrel, maybe the bleeding is stopped there. And I'm a big believer in going to these places. whenever as I said I visited Lulu Lemons when they're doing bad I'm Starbucks every day so I have a good feel for what's going on there my place that's doing much much better a little bit of how you do things people used to make fun of me when I visited a few home depots

Microsoft aftermarket up $14 there you go keep in mind it is way down But it's up 14 bucks as I speak. Starbucks. And by the way, these can change. Starbucks close at 104. I got at 112. Fortinette, one of those strong software stocks, close at 153, got it at 169. Lamb Research, very important semiconductor, close 252.

It's 265. Here's another obscure semiconductor, form factor close at 83. I can't tell, but it's up. Meta, though. Let's see where I'm at now. 585, I got it at 551. Qualcomm, I got it 155 is now 147. So a few good, few bad.

Am I looking for it? I'll find the others. But leave no doubt today sucked. 1,153 Dow points. And I'll tell you, I'm always asking questions. Goldman Sachs reports earnings and had a great reaction and has crumbled. Crumbled. What's up?

J.P. Morgan down 13. Morgan Stanley and Citigroup break the 50-day handily. Other financials hit today. I'm always asking, what's up? And when financials are doing that, I really get worrying. Just remember, 08. our calls were made based on the financials. Up next, what else?

Oh, Fauci. This is the one to only investors, Ed. They'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. Meta is bouncing, but still 30 bucks down in the aftermarket. And Microsoft, uh, see, that's why I say, don't blink. Microsoft is now only up six bucks in the after market, but still up six bucks. Was up 14. Now only five. Stop. Uh, let's, uh, well, a couple of things. Number one.

Um, as I mentioned, the president said they're going to knock the effing, whatever. There was a lot of F-bombs today, by the way, on Fauci and the president, that they're going to do this and that to Iran. That's what caused oil to go up. I don't know if that's what caused the market to do what it did. I don't know. But all I can tell you, 3 o'clock, the institutions came in and took out the machete. What that means, as we always say, I have no idea what tomorrow. brings but boy oh boy the socks was down 588 today that's more than 5% and it was already

oversold the NASDAQ 100 down 570 NASDAQ 433 down 11503 after being up 500 yesterday S&P down 112 Russell 2000 down about 1.7 transports down about two and change advanced decline was putrid up Down volume was putrid, new lows, beaten out new highs on the indices. What else do I have to tell you? Fauci. So yesterday I defend him. But sometimes people don't listen.

Sometimes people don't listen. I wasn't defending him about, well, he has a diary out and he said some things and people are now saying, well, he thinks he's a celebrity. I don't give a crap about that. What I was defending Amman is everybody is, there's a lot of people out there how wrong he was. And what did I say to you? Yeah, he was. He was wrong on things.

Of course he was. Do you know why he was wrong? Because you had moving targets. When this first happened, COVID, your president, Donald Trump came out and stated that it was nothing and will go away quickly. I can quote him. His quote was worse than what I just said.

Am I mad at him for a bit? No. Nobody knew. Nobody had any idea what was going to come. And everybody had to keep changing their stance as it was happening. That's just normal stuff. That's my contention. Because everybody's ripping the guy to shred.

wrong wrong wrong I'm not going to say who but famous doctors on TV called it a flu by the way one of those doctors is credited as one of the biggest geniuses on earth my mad I'm not mad at him he didn't know people are blast and foundry oh you made us have masks you made us have masks you kids out out of the schools let me ask you all a question while everybody was dying you want your kids in school? Did you know whether they had immunity or not at the time? We knew nothing. This is what I'm talking about. Now, the other claims are his company or whatever paid China at that place for this thing called gain of function. You can go look it up and this, that. That's all up in the air. Nobody's 100% on it. but does anybody out there think he wanted this outcome?

They were treating them today like he created this thing and I'm like, what? Now here's where I'm not going to defend them. He took the fifth today. I thought that was disgusting. He took the fifth today. I thought that was disgusting. Now, we do know the Republicans are out for him

and want to put him in jail. So he was just protecting himself. But there were plenty of questions in there that he could have answered and not have to worry about things. That pissed me off. Big time. So there, I had something bad to say about him. Anyway, we appreciate the emails. We just, you know, I remember everything very, very well.

and as you know we have no bias, no agenda, no ulterior motive. We are not right. We are not left. We think they all suck. I even put out a tweet today while these senators are ripping, one side is ripping him and the other side is complimenting him. Today, $6 billion was added to our debt brought to you by a lot of these senators, if not all. Do you know $6 billion is added to our debt every day?

$6 billion is added to our debt every freaking day. $6 billion brought to by Donald Trump, Joe Biden, Donald Trump before him, Barack Obama before him, and George Bush before him. The trajectory skyrocketed starting with Bush, and they don't give a crap. And as I've said to you, the reason why Trump didn't do anything about it, even though he promised, because it all goes into GDP.

Every dime spent by the government shows up in GDP and the higher the GDP, the better. They don't care. Screw them all. Screw them all. That's my thought process. All right. Anyway, back on markets, done with Fauci. And again, thanks for those emails.

And, you know, I appreciate the opinions. And I don't argue with them. I just state what I think and my thoughts and that's it. Happy days. What else? Well, as he said, aftermarket, there's some good ones, there's some bad ones. Meta's numbers look horrible, but is only down $32. Well, that's $32 is, I guess, a lot.

Qualcomm's hit, but the others, not so bad. Not so bad. Futures, actually the NASDAQ futures are actually down a little bit. I'll see whatever. There's a bunch of others I'm looking for in the after market. We'll see how it goes. But just look, leave no doubt. When markets are stretched, extended, and oversold, and they keep dropping,

not thrilling. And the close today, not thrilling. Now, there's this rule of thumb. Whatever happens on Fed Day, the opposite happens the next day. Don't believe that bull crap. Sometimes people make just crap up on Wall Street. Seriously. The market has no idea about today. Tomorrow. So we'll see. All I can tell you is we're due to bounce. But damn, today was bad. And I gotta tell you, micron down 90. I think that's including aftermarket. Micron down another 90. It's down 70 aftermarket. Sandisk is down at $1,000. It was $23.54. Mid-Jerm. June. No analysts have changed their ratings. Haven't seen a one. And that's why it's so important

to watch the market. And I got to finish up with NVIDIA. Down another seven bucks today. Below the 200-day moving average. I just want you to remember, they announced supposedly $250 billion. $250 billion. For Open AI, as we've said to you, circular financing. And I am letting you know, forget what I think, the bond market for these companies is going awry. The bonds are being sold off at SpaceX. The credit default swaps, that is insurance against potential defaulted debt,

is skyrocketing in price we're going to keep watching those markets I got news for you a lot of the economy has been these companies up next this that and the other thing this is the one only investors edge you're listening to

what are we waiting for well what are you waiting for one two ready go in investors edge with Gary Culper. And welcome once again to Investor's Edge. Hey, Chipotle beat by a little bit. But I got to tell you, and I tell them when I go there, my problem with Chipotle is every time I go there,

the food tastes differently. One time there's a lot of spice on it. Another time there isn't. They've got to fix that up. Consistency is important, ladies and gentlemen, don't you think? All right, let's recap today's nausea. The Fed came out and did not change rates.

I would quote the things he said, but you would pull your hair out. No, seriously, you would pull your hair out. It was freaking gibberish, and it's boring and tiresome. the other part of that equation is that he sounded a little too much. And we'll give him the benefit of doubt because he's new. Like he thinks he can control the economy. That he is bigger than the 160 million of us that, as I always say, wake up every morning to go to work, to try and do better for ourselves.

and our families. If you have a chance, go read up what he has to say. We'll give him the benefit. But I digress. I don't know what caused it, but at the 3 o'clock hour, the market cratered and pretty darn good. the initial reaction was pretty decent. The market was moving up and then boom. Dowdown 1150, Goldman Sachs and Caterpillar were about 720 of the 1150. Remember what we've said to you here? They are the most important two because they are the highest price. and the two highest price names got smoked today.

I'm asking a question why Goldman Sachs had such a great reaction to earnings and since has crumbled, absolutely crumbled. And then today, Evercore, which happened to be the strongest of the private equity companies on earnings drops 35 bucks today, 10% drop, just questions I'm always asking. And I just never, ever want to see financials gagging, ever. And today was a big gag day led by, again, Goldman Sachs. And it took down others. What else happened today besides the Fed?

Oil prices. Nice spike. We have told you time and time again, and again, we take no joy. This administration has miscalculated Iran like there is no tomorrow, and they continue to. And unfortunately, the president continues with his Pinocchio talk every day saying, yeah, they called, they called, they called, they won out. we've blasted them. They're tired of us. They want out. They want out. They want out. And they come out and say, we haven't even talked to anybody. And then they shoot ballistic missiles at our bases in the Middle East. And then Trump says we control the straits of her moves. And guess what they say? No, you don't. Take a hike. This is all worrisome stuff. And I've been saying since day one, let's get this freaking thing over with. enough. I don't know if they can. It seems like Iran wants to stay in this. And to be fair, we bludgeon a lot of their military. But the president's saying they got nothing left. That's

another lie. How are they shooting ballistic missiles if we took out everything they have? Catching my drift? Wishing for the best. But if we now accelerate escalate, that's a better word. If oil prices head back over a hundredth. Kids, that's going to be bad news. Any way you cut it, we'll keep you informed. The bottom line, major indices are under pressure. The NASDAQ, NASDAQ 100 worsened.

The Dow that was up 500 plus yesterday down, dropped 1150 points today. We mentioned those two, but guess what? Amgen down 7, Amazon down 5. By the way, they report, I think, this week or next. Boeing, down 7, was up 10 yesterday. How about Honeywell, down 6, Home Depot, down 6? We told you J.P. Morgan 12. Sherwin Williams was up 20 yesterday, down 10 today.

Rough day. Advanced declines 13 to 32 on the New York, 13 to 34 in the NASDAQ. PUTrid comes to mind. And then aftermarket, got some good, got some not so good. Futures are down a little bit in the aftermarket also. Yippee. Hopefully tomorrow a better day. The worst software stocks had a very strong day again, four days in a row.

the best software stocks. A couple of them at a very good day. Fortinets, one of those, up nicely in the aftermarket, and we're going to sleep. You'll have a great evening drive carefully. When you get home, do like we do. Quite simple.

Make sure you hug your family, hug your children. They will feel better. You'll feel better. I promise they will be well. Peace out all. Good night. This has been Investor's Edge

with Gary Cultbaum on BizTalk. To listen to past episodes or to get in contact with Gary, go to GaryK.com. That's GaryKey.com.