As we sit back and digest these volatile days, one thing definitely comes to mind -- and the word is rotation. As long as we can see money move from one sector to another, that is constructive. Hence, stock selection is key.
More Quotes from Ralph Acampora:
You'd hate to think that one person could do this. But I think the popularity of business shows, and all the media attention that trading activity gets, I guess comments by market strategists becomes a little bit of a catalyst.Ralph Acampora
I think quite often when you get to a round number you have a lot of anxiety. This backing off is healthy. It takes some of the enthusiasm out.
Ralph Acampora
I think that you are going to be flirting with that number back and forth. I think good traders, on the excitement, probably took some profits and I think that we will vacillate and move a lot higher.
Ralph Acampora
Expect more of the same choppy activity as the Dow meanders around the 10,000 level. Unfortunately, the leadership is expected to remain very narrow as the negative (market) breadth problem continues.
Ralph Acampora
Tomorrow's employment report is critical for the market. Investors are hanging on every number that we get. Anything to do with consumer spending is key because consumers have been supporting the economy.
Ralph Acampora
What makes a bull market live is rotation, and we have the rotation.
Ralph Acampora
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