Vital Support Levels

April 23, 2001
Gary Kaltbaum

The
whipsaw/pullback/consolidation that I talked about on Friday has now
started. It is now vital to watch SUPPORT LEVELS…not
just for the major indices but for important individual names. Regardless of the
last 10 days’ move, regardless of the Fed, regardless of the talk of a better
second half, regardless of my saying that there is a good chance that this market may
have bottomed…if these support levels are broken…Well, you get the idea. The market will continue to do whatever it wants to do, regardless.

Investors must understand that if this is a new bull, these support levels
should not be violated: Period!