Investor's Edge with Gary Kaltbaum - We’ve never seen this [02.11.2026]

Episode Date: February 11, 2026

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at all tastes like. Investor's Edge with Gary Cultbaum. Straight talk about you and your money. Now from the BizTalk Studios, here is Gary Cultbaum. And welcome once again to Investors Edge. I'm Gary Coltbaum, your host. A thanks for being with us today. Glad you here, ladies and gentlemen.

Happy that you are listening. It is Wednesday. It is February 11th. It is 2026. Hope you're having a good day. We're titling this show. We've never seen this. We're titling this show.

We've never seen this. I'll explain in a little bit. But in case you don't know, this is serious talk on everything that affects you. We'll do the markets. And boy, we've got a lot to say today. We'll do the economy. Your job, your industry,

the Morlocks in D.C., go look up Morlocks. And anything else that matters, especially since they are such interlopers into our life now. And if you do not get this radio show in your city, we're going to post it at garyk.com. We'll also post it on our X feed. If you don't follow us on X, you should. By the way, you know what it amazes me? on X, there are people with

5 million, 6 million, 7 million followers and they're just plain old arse clowns and people still follow. I always wonder, should I just BS you and just make things up and tell you they didn't land on the moon to get followers? Maybe one day I'll name some names.

Hey, and if you don't get this radio show in your city, we'll post it at garyk.com, and it's posted on our X feed. yes, I said that. And if you don't follow us and actually should, I said that too. If you'd like to email me, just be nice. By the way, it'll also put it on a Biz TV YouTube channel. So we've been very good doing markets and markets and markets and markets with you. And I promise you, we're going to do markets and markets and markets with you during this show. but I have to state for the record coming under the heading,

they just don't give a crap about us. I think they hate us. We're just marks. I hope you don't mind. I'm going to spend a few minutes on this. I want to start out by saying, Pam Bondi is the Attorney General of this country now. She used to be for Florida.

She was a magnificent Florida Attorney's General. Loved her. She's now for the U.S. When you have a moment of time today, go ahead, go ahead and watch video of her of her. Answering questions on Capitol Hill of both Republicans and of Democrats. And frankly, it takes two to tango. I'm a big believer of that.

Go watch. Because it comes under the heading, none of them are working for us. You know how I've said they're supposed to work for us? we don't work for them. None of them work for us. An unadulterated embarrassment of the people on Capitol Hill and from, unfortunately, the Attorney General Bondi. Go watch. An embarrassment.

And as we said yesterday, it's an. embarrassment, this whole Epstein affair, they don't care about us. We're nothing. Which takes me to the second part of they don't care about us. We're nothing. You ready? Titled, Federal debt to hit record levels, budget office warns. Haven't we been told how great they're doing on the debt and the deficits. We've been told that, right? Well, the Congressional Budget Office, which I affectionately through the years have called them, the Congressional BS office, because they're always low, has come out and said, the federal government is going to run another 23.1 trillion deficit over the next nine years. Last I looked that comes out,

to what, 2.5 trillion each year of deficit. Now, of course, it's not just on President Trump's head. It's on all of them. But they hate us. We're just marks. We're nothing to them. They laugh at us. They used to fight over the budget.

The two words debt ceiling actually meant something a very long time ago. Do not forget what they did. It's time to do the budget. No worries. Let's just go over budget by $10 billion. We got away with that. Let's do $50 billion.

Oh, we got away with that. Let's do $100 billion. Hey, we got away with that. Let's do $250 billion. As they laugh at us, just remember, they were never supposed to run debt like that. We got away with it. Let's do $500 billion. Ha, ha, ha, ha, we got away with it. How about $750?

Got to $750. Do you think we can do a trillion and get away with it? Hey, let's try. And they did. And now these creeps. Trump, Biden, Obama, Bush, Trump twice, just giving us the middle finger. And the President Trump can talk all he wants, tax cuts, and regulatory cuts, and this cut and that cuts. And we love you and maha and maga and this, that, and the other thing, he's going to spend two

trillion dollars over and above what he's supposed to and nobody cares and that 23.1 is 1.4 billion higher than they predicted a few months ago and you know what that 23.1 means just make it 27. So just letting you know a combination of just watch some of the video of the Dems and Bondi, the attorneys general, and don't cry, even though we should. But these are the people that are supposed to work for us that are given us the big middle finger. They're actually going into back rooms to look at the unredacted Epstein. Why aren't we able to see every one of it? Because we're nobodies.

We're nothing to all of them except votes. and money for their re-elections. Every one of them, you have all these mucky mucks, knew that this guy was a rapist, a pedophile, one of the biggest scumbags to ever live. And they played around with him and danced with him and had lunch and dinner and breakfast with him and visited his island was on his jet,

from Bill Clinton to Bill Gates to this Luskin guy or Luggett to Donald Trump. But now, I didn't know anything. Horse crap. Hey, up next, the markets, and what did I say? We've never seen this. I'll explain up next on Investor's Edge. Hi, I'm Gary Kalbaum, hosted a nationally syndicated radio show Investors Edge.

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offered through call bomb capital management. Here's a quick podcast for all you true crime fans. The case of the missing Reese's. It was me at the store with my mouth. Motive? Um,

they're Reese's. What was that going to do stop myself. Tune in next time to see if I do it again. Spoiler, I will. Wow, that had everything. Reese's, suspense, reases. OnDEC is built to back small businesses like yours. Whether you're buying equipment, expanding your team, or bridging cash flow gaps,

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Tommy John. Comfort perfected. 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 called bomb. It doesn't get better than this. So let me just put a bow tie on it. Me, your handsome and buffed host, I can't begin to tell you how pissed off I was today watching Pam Bondi on Capitol Hill that's supposed to answer questions. In the name of the American people,

this woman who was a wonderful Attorney General of Florida, will you go watch? And as usual, the Dems embarrassed themselves because they did the same thing also. Just remember the Dems had four years, four years with all this Epstein stuff, and not once did they approach it. Not once did they put Merrick Garland on the stand

hey, what the hell's happening with this Epstein crap? But now, just remember, they hate us. They really do. We're a means to their ends. We're their money. And when there's not enough, they just go into more debt. We're their votes. Because they're always promising what they're going to do for us.

Yes. our lot in life will never be the same unless we vote for them. How'd you guess? All right. Enough of that, right? Not one of you can disagree with me on either side of the aisle. So ladies and gentlemen, the S&P today, the S&P 500, was down less than a point. Didn't move.

the Dow was down 66. The NASDAQ was down a measly 36, but the NASDAQ 100 was up 73. But the jello was moving on the plate. You know what that means. You take a plate, put some jello on it, and just wiggle the plate, and you see the jello flying all over the place.

Let me describe. Coming into today, it's been pretty simple. and for the record I'm still amazed what have we been telling you avoid software stocks a brutal bare market in software stocks

the likes we have not seen unless the whole market is in a bare market the likes we haven't seen, you'd have to go back to

2022. When the NASDAQW was down in the 30s, that's how bad these software stocks are. It's stunning to me that the big indices currently are a stones throw away from the highs

yet Oracle. was down three bucks today after bouncing up for three days to $157. Oracle, it was $3455 in September. Microsoft bounced up for two days, was up strong yesterday, reversed to be down, and was down $9 today, at $404 down from $554.4.00. in late October. Adobe, you know Adobe, has gone from $700 bucks in 21 to $257. And the recent high was $638 to $257.

Salesforce.com topped out at 369, it's 184, and was down another eight and a half bucks today, by the way, Adobe was down eight. SAP, the big German giant software stock, tops out at 313 in July, it's 202. Just looking at these, you would be thinking, holy crap, the NASDAX down 15, 20%, if not more. And those are the big names. And you're ready for today? Today. DoorDash, down another 10.

VVE, VEEV, down 10. ZS, down another 4. APP, down 16 today. And down another 30 in the aftermarket on earnings. Expedia down 8, MDB, down 12. Rambus down 8, Shopify down 8 after being up 20 on earnings. Reddit down 11. A-Lab, down 39 on their earnings.

other software stocks just absolute blowups. Some you've never heard of, some you have. The IGV, the main exchange traded fund for software, down 3% today. After three days of bounce, immediately drops, has gone from 118 to 8. I'm rounding off. 118 to 83, 17 and 18 is 35 on 118. That's more than 30%. You would think the NASDAQ, which right now, is 3.5% off the highs. You would think it's down 15 to 20. And by the way, I haven't even named names of some you don't know.

Have you ever heard a HubSpot? Well, it's a pretty big software company that topped out at an all-time high in February. At 881, it's 200. Now, all the talk is, the blame is artificial intelligence. I got news for you. I don't give a crap. The blame. I just want to be able to read bare markets, and we've been telling you now for a while,

to avoid software stocks. But even I, who have avoided them, and have told you to avoid them, are stunned at the drops. Stunned that it could only bounce for two or three days before already the sellers are back. Up next. Well, that's the bad end.

There's got to be a good end because the NASDAQ's hardly down. That's up next on Investor's Edge. Here's a quick podcast for all you true crime fans. The case of the missing Reese's. It was me at the store with my mouth. Motive? Um, they're Reese's.

What was I going to do? Stop myself. Tune in next time to see if I do it again. Spoiler, I will. Wow. That had everything. Reese's, suspense, Reese's. OnDec is built to back small businesses like yours.

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With Gary Colbomb. It comes highly recommended. You're going to feel better if you talk to him. So, let's start off by saying things to be careful about. You see, I see what you see. I hear what you hear. I watch what you watch.

I heard a bunch of bull crap today. I heard somebody say it's algorithms that are causing the drop in software stocks. That's a lie. That's a lie. Institution's selling is causing the drop. That would be an excuse of somebody that's probably loaded. with these software stocks, and has been telling you to buy them all the way down. So you've got to blame something.

The software drop did not start last week. When, by the way, software dropped like 20% last week. The IGV last week went from, well, let's go right before Microsoft earnings, 96 down to 79 yeah big drop let's call it yeah let's call 15 to 20

software topped back in October when we told you when we saw Oracle and Microsoft gagging Salesforce.com already dead SAP already dead Adobe been to bear for a year

don't believe that crap That's number one. Number two, I heard they're right at the bottom. And I heard somebody say that about Bitcoin today. Yes, it's the bottom because, well, in the past, the ladies and gentlemen, all you need is to let it bottom. And you know how you know the bottom is in? Are you listening?

They stop going down. as of today they're still going down how about that for starters how about that for Mr. Logic so all kind you know how we say to you in bare markets you get no help from

Wall Street well you do have bare markets going on and you're getting no help you're getting no help from the bitcoinsers and the cryptoites you get no help from the software this that and if I had a dime for every time I saw somebody say buy Microsoft for the long term, they do have one thing right,

because I'll tell you, I don't know what's going on and why these things are getting blasted. What I do know is if Microsoft continues to grow their earnings and sales between 15 and 20 percent each year, eventually it's going to hit a low and turn back up. But I got news for you. It's still trading it like 27 times earnings. We'll let you know if anything changes. But I got to tell you, I'm stunned and I'm humbled that these famous software names would just get plunked. But we're not done.

They crumbled yesterday the brokerage firms. And you know what they did today? Ameri Prize, a fantastic company. Down another 20 bucks today. AmeriPrize has gone from 540 to 486 in two days on some announcement of artificial intelligence. LPL Financial, another very well-run company, 395 to 338. Down another 21 today. Schwab was 107 to start the day yesterday.

It's 95 today. Down 12 bucks. They hit Raymond James, Stiefel. And I told my peeps today, you know if they're going to hit the brokers, what about the banks that own the brokers? Well, guess what? They hit some of the banks today too.

And then the next question is, what if something AI on the banks? So I got to tell you, Part of what I do now, I got to keep a close watch on any industry. They crumbled insurance. They're destroying the software. And now they're going after the brokers. And a little bit of the banks today.

Stay tuned. Whether it's the AI thing or not, I don't know. I don't know how you replace the brokers and money managers at the AmeriPrize and the LPL. I don't know how the Schwab gets a 10% haircut. Billions off a market cap? It's so weird. But how did the NASDAQ, with the software getting smoked again, ladies and gentlemen, the artificial intelligence the other way?

The bull markets. First off, before I get into, some of the staples, Coke and Pepsi, New Yearly Highs, some of the economically sensitive names that have been dead. Japan, foreign markets, not all. China's weak.

And then there's the semiconductors slash artificial intelligence trade. And when I mean that, We're talking about the data, data storage, data centers, and just plain old semiconductors and semiconductor equipment makers. They opened up 250 today. When the market started getting hit, they would, I even got to get the number while I'm sitting here. The socks today opened up. It was 8288 on the socks today, up 1.8.

up 187, was up about 220, got to 8314 before closing at 82.91, up 184 points today. More than 2%. And what did they do today? Micron up 39, KLA, let me give you percentages. Micron up 10%, KLAC, up 3.5%, AMA, AT up three and a quarter they report tomorrow. How about the sand disks of the world? Up 10%. They have to getting squashed yesterday. Caterpillar is now an artificial intelligence name. Up 4.4%.

By the way, that's Dow. That would be 200 down points for Caterpillar today. But you know what's on the other end? IBM down 19 today. That's about 140 Dow points to the negative. Do you know what they're telling me? Oh, IBM's in trouble because of artificial intelligence. What?

So I've never seen this. I have never seen. I think I said this last week. It's just accentuated now. I've never seen software stocks crash. And semiconductors go boom at the same time. I've never seen it. They all usually go, not necessarily 100% hand in hand, but hand in hand.

So whatever is it work here rates a big freaking wow. The semiconductors that pulled back last week harshly from 8386 down to 7473 in days held the 50-day moving average. Friday were up 400 and some of. points. Another good day today. Amazing. Up next. What else?

This is the one only investor's edge. Reese's peanut butter cups. They go perfectly with music. Podcasts. And welcome back to the show. Even nature sounds. Oh, and the thing where someone crinkles tissue and whispers at you. Hello. Look, I'm not here to judge what you listen.

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That's Tommyjohn.com code comfort. Tommy John. Comfort perfected. You're listening to. What are we waiting for? Well, what are you waiting for? One, two, ready, go. Action!

In the Wester's Edge. With Gary Colbaugh. So, hey yo. You know throughout, all the years, whenever the jobs numbers would come out, we'd call them the fake job numbers. We always say that because go look up how they come up with the job numbers. Go look them up. You would be laughing. Make no sense. But the job numbers that came out today were much better than expected. And if they're correct, good to see. Because job creation has

sucked for the last bunch of months. And what I do like is government jobs that are taxpayer funded going by the wayside, private jobs look like they're picking up. Let us hope that's continuing because that's important stuff, kids. Good to see that today. The job numbers. For those of you that know the president, I have a message. for you to give to him.

Do not go out and tell people we're going to have 15% GDP. Do not predict 15% GDP. We're not going to have 15% GDP. Don't rain on your old parade. Don't give somebody a chance to say, what is this 15% we only did so-and-so? I got news for the president.

Supposedly we're coming out with 5%. That's fantastic. He does not have to come out with 15%. My goodness. We're not growing 15%. I heard some doofus come out and said, well, we did it after COVID. That's because we crashed. We shut down the economy.

Of course you're going to grow back 15. If we do five, that'd be marvelous. especially with a $30 trillion economy. We're not a $20 anymore. We're not a $15. Five would be terrific. 15. Headline, 15.

No. Stop. I'm the president's best friend. You know the enemy of the president is? The ones that keep kissing his butt, even though he embellishes like there's no tomorrow. It is an election year. Every word's going to count.

And the poll numbers are horrible for him. And even worse, considering, we're getting a 5% GDP. That's what it looks like. President should call me. I'd help him out big time. Big time. Other areas. The steel.

the metals mining another strong day things like Rio Tinto or BHP Group iron ore nickel and copper and coal good day oils bad news oil prices were up again

if you own the stocks they've been strong and I got to tell you I'm so P-Oed it myself when I saw Exxon breakout I'm like I'm not buying Exxon. Come on. Stodgy oil that's done nothing. It's gone from 123 to 155 in a month. I wrote in my notes. I'm not buying an Exxon. Others not nearly as strong. That was just the first one to go. The ETFs, the XLE, broke out at 48, 55, at 7 on 48. It's about 17%. The OIH has been the strongest. Broke out at 312. Five weeks, 381.

The XOP, the Explorer, is not as strong, not nearly. So the commodity space. And of course, the dollar continues to suck. So if you're flying to Europe or other places, you're paying more. Simple as that. Euro, if you're visiting over there, it's gone the wrong way cheaper for them to come over here

and they're not they're not happy with us it's a little contentious between the countries right now because of the rhetoric hospitals had good reaction to earnings today of course I get it I've told you about my hospital bills how crazy it is and therein lies

crypto ain't nothing going on there the bounce anemic at best they're coming up with any excuse i saw somebody again who said bottom today i'm like i'm told i said to myself bottom today based on what you know we talk about tops and bottoms here it really is based on movement there's been nothing in the Crypto to define that. How do we know? We're looking at it. In the aftermarket, Cisco's coughing one up in the Dow. I think I got it down about four bucks. That's a big drop for a Cisco. HubSpot, which has been a blasted software stock, down another seven bucks. That APP, down 20 bucks. These are all, again, software, ain't happening. Here's another one, paycom, closed at 119, got it at 109 in the aftermarket.

Amazing. McDonald's reported, I got it down three bucks in the aftermarket. Do you know I still haven't been to a McDonald's in like 25 years? In college, you know what we had every day? Chicken McNuggets. That's what we had every single day. We lived on chicken McNuggets. I haven't been, I think it's at least 25 years.

And they do have good fries, though. All right, that's it. You all have a great evening drive carefully. By the way, I believe tomorrow morning 10 a.m. hour, Fox Business Network, check it out with Mr. Stewart Varney. You have a great evening drive carefully when you get home, do like we do. make sure you hug your family and hug your children they will feel better you will feel better i promise stay well be well have a great one all go watch those pam bondi videos good night

this has been investors edge with gary cult bomb on biz talk to listen to past episodes or to get in contact with gary go to gary k dot com that's gary k dot com guys it's no use putting it off the best time for an underwear refresh is now Tommy John underwear is designed for a perfect fit that stays put all day. Their zero-chafe thanks to four times more stretch than competing brands, and their innovative horizontal quick-draw fly is a game changer. With over 30 million pairs sold, there are thousands of men out there more comfortable than you. Don't settle for less.

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