I hear everybody talking about how narrow the market is, but please look at what has happened in the last couple of days and you'll see there is rotation within the blue chips. You're getting technology and even getting a few of the small mid-cap stocks participating. It's feeding itself and I think it bodes very well for the long term.
More Quotes from Ralph Acampora:
At this very early stage of an attempt to put in important lows, we cannot rule out additional setbacks and volatility. Normally, time and price stabilization are necessary for the market to put in a meaningful bottom - the backing and filling that is currently taking place is part of this process.Ralph Acampora
Sentiment can change overnight. Good news is good news again.
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
Many comparisons have been made with the markets of the 1950s and 1960s. If you go back in history you climb a wall of worry. The price action we are seeing today is actually normal action in a bull market.
Ralph Acampora
The thing that's very, very impressive is the quality of the stocks that are driving this. It's a very narrow list, but a very beautiful list.
Ralph Acampora
We've been bullish for a little over two years. What was in place for two years is still in place blue chip leadership and the flow of funds.
Ralph Acampora
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