Legendary technician Ralph Acampora was on CNBC’s Fast Money last night and it was awesome. Ralph is called the “Godfather of Technical Analysis” and is a living legend. I’ve seen him present a few times over the years and this past April had the honor of shaking his hand and saying hi. When he talks, it pays to listen.
Everyone’s favorite CNBC contributor Josh Brown was there as well asking questions. Here are a few quotes from the Godfather. You can watch the whole thing below, and I’d highly advise you do to that.
“We have a lot more to go on the upside.”
“Will be just like last year, summer rally will carry into September.”
“If summer rally carries late, into September, that bodes very well for a strong year-end rally.”
“If you are waiting for a big move in emerging markets, you are going to wait a long, long time.”
Josh asks if we are already in a secular bull market, when so many are still waiting for it to begin. ”The March 2009 low is comparable to the August 1982 low. And that was the beginning of an 18 year bull market.”
“We are currently 4.5 years into the new secular bull market.”
“I’ve lived through a couple of these and its just like the old days. Enjoy it!”
“Everyone is talking about ‘tapering’, I think the market has already discounted that.”
“Interest rates? They are going up.”
“Buy high and it’s going higher.”
“People complained in the early ’80s all the way up. Enjoy it.”