Do you think we are in for a market correction or is he market going to keep cranking?
This bull market is more powerful than the late 1990s, says 'the godfather' of technical analysis
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comagnum's a good one to ask but with all due respect to him, you're not being fair, it doesn't matter what HE says, its more important what is YOUR plan.
So, have you decided what the indices would have to do before you get out? And do you know how much that will cost you as a % of your account?
Joe Bats from Gruntal... Used to have lunch with him at Red Oak Diner in Fort Lee in late 90`s... RIP Pisan...
https://www.thestreet.com/story/11084445/1/stifel-strategist-battipaglia-dies-at-55.html
Do you think we are in for a market correction or is he market going to keep cranking?
I sure don't pick tops - just taking the setups in front of me which are mostly long on the equity markets. Bull markets & bubbles always go a lot further than most people ever think they will - at tops the range expands making it very hard to short.
Pros in general will wait for the first down leg which usually will retrace from half to two-thirds of the down leg and set their shorts at the apex of the retrace. The fall after this retrace is spectacular - you will see the bids just vanish at times. No reason to be in a hurry to short when you have a plan.
In the dot.com bull Nortel (NT) was considered a core holding & rather conservative tech play. Bubbles always reverse of all of the gains and than some.
NT first down leg retraces just over two-thirds & hits resistance providing an ideal place to short - historically this is a common bull top, retrace, and plunge.
I sure don't pick tops - just taking the setups in front of me which are mostly long on the equity markets. Bull markets & bubbles always go a lot further than most people ever think they will - at tops the range expands making it very hard to short.
Pros in general will wait for the first down leg which usually will retrace from half to two-thirds of the down leg and set their shorts at the apex of the retrace. The fall after this retrace is spectacular - you will see the bids just vanish at times. No reason to be in a hurry to short when you have a plan.
In the dot.com bull Nortel (NT) was considered a core holding & rather conservative tech play. Bubbles always reverse of all of the gains and than some.
NT first down leg retraces just over two-thirds & hits resistance providing an ideal place to short - historically this is a common bull top, retrace, and plunge.
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%%This bull market is more powerful than the late 1990s, says 'the godfather' of technical analysis
Stephanie Landsman | @stephlandsman
Published 8:33 AM ET Wed, 10 Jan 2018 Updated 12:29 PM ET Thu, 11 Jan 2018CNBC.com
Raging rally shows no signs of fading, Ralph Acampora says 4:06 PM ET Tue, 9 Jan 2018 | 02:07
The godfather of technical analysis is a raging bull, and he's becoming even more vocal about it.
Last week, Ralph Acampora said he was so bullish he had to sit down and calm down.
"I'm not sitting in a chair anymore. I'm sitting in a rocking chair," he told CNBC's "Futures Now" on Tuesday — adding that the "chair was about to explode."
The S&P 500, Dow and Nasdaq have been sizzling.
The S&P 500 is seeing its strongest six-day win streak in 31 years. That index, along with the Nasdaq, just registered its sixth all-time closing high of 2018. The Dow has clocked four record closes.
"This is a market that's more powerful than the late '90s," said Acampora.
Altaira Capital Partners' Acampora, who calls himself "the godfather of technical analysis," contends an impressive rotation is firmly gripping the market — a vital element of any strong bull market.
"The last six days have been phenomenal," he said. "Foreign markets are on fire, too. It's all over the world."
He points to a simple chart that illustrates the breadth of the rally. According to Acampora, the NYSE advance-decline line reflects just how vibrant the stock market is right now.
"We technicians look at the breadth of the market. That's the advances and declines," he said. "It just tells you the direction of the move. And you look at that picture, and the majority of stocks are moving up. To me, that's broad-based advance and it makes me very, very encouraged."
He sees a few areas in particular making a hefty move higher.
"Energy is just starting to break out. There are a lot of very good moves here that are their early stages," Acampora said. "Financials are right behind it, industrials and, of course, technology. That game is not over yet."
I appreciate his/your comments. While i prefer any trend to be broad based, who gets paid on all NYSE stocks LOL??Nasdaq/NasdaQQQ were much stronger as Comagnum chart noted.
No I have not but the point is very well taken and I appreciate that. I invest me own money and definitely more of a plan.