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.
More Quotes from 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
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'm trying to tell people now that 10,000 is no longer the ceiling. I think it's the floor for the market over the next 5 to 10 years.
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
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
Readers Who Like This Quotation Also Like:
Based on Topics: Leadership Quotes, Leading & Managing QuotesBased on Keywords: meanders
I judged about a zillion awards this year so I've been reading a lot of books that just came out.
Rick Moody
My total winnings after 14 appearances were $129,000.
Charles Van Doren
Not to engage in the pursuit of ideas is to live like ants instead of like men.
Mortimer Adler