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.
More Quotes from Ralph Acampora:
What makes a bull market live is rotation, and we have the rotation.Ralph Acampora
Capitulation isn't a one-day phenomena. I'm in the camp that you have to get a wash-out and I'm telling investors to rotate the world doesn't revolve just around technology stocks.
Ralph Acampora
Today was the first time we saw the 'dot-com' Internet stocks actually pull back but instead of dragging the rest of the market down, the rest of the market went up, ... I was very, very impressed. In other words, we don't need the Internet stocks for leadership - we've got other names.
Ralph Acampora
Sentiment can change overnight. Good news is good news again.
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
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
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