Setting The Record Straight

May 14, 2001
Gary Kaltbaum

I have been
receiving several e-mails asking me questions about my investing
discipline. I
guess it has to do with my putting out gold stocks as technical breakouts.
Since I write an
intermediate-term trading column,
I guess most people
believe I am 100% intermediate term.
Nope.

I am a technical analyst first and foremost.
My job is to
constantly interpret major trend changes in stocks,
sectors and the
markets. “Whatever
works“
is what I live by. I
invest long–term…I
invest intermediate-term…I can swing trade with the best…and I can throw a
quick one when I want to. Whatever
the market gives me, I
will take. This
is how I invest and this is what I teach at my workshops.
It is called being
nimble.

Certainly, I
would rather find high-growth,
high flying,
high multiple
stocks that are breaking out of long bases and let them run ‘til
the cows come home. Guess
what? Ain’t
happening right now. Will
it ever again? Absolutely,
positively! Until
that time, I
go elsewhere.

I really have no feeling as to what happens with the Fed tomorrow.
I am more
interested in the market’s reaction.
So far,
the markets are
acting fine…except
for Technology. Start
keeping a close eye on Tech
land. What
started as a normal and healthy pullback is all of a sudden becoming very
suspect. The
fact of the matter is that there are no breakouts in Tech,
so not much to do there. One
must go elsewhere.