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.
More Quotes from Ralph Acampora:
There's 'hot money' -- hedge fund money, more aggressive money -- if they sense anything out of the ordinary, they bail out quickly, en masse.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
We give the market the benefit of the doubt that the near-term strength will carry through to the upside,
Ralph Acampora
Time is one of the important things to me as an analyst, and this rally is long in the tooth. And if interest rates climb above 4.8 percent, this market could stop on a dime.
Ralph Acampora
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.
Ralph Acampora
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.
Ralph Acampora
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