Ralph Acampora: Market Will Rocket Higher with Fiscal Cliff Deal
In an interview on CNBC’s Futures Now, Ralph Acampora, Senior Managing Director at Altaira Limited, provided his perspective of the current market, volatility index (VIX), and impact of the “fiscal cliff.” Acampora noted that the VIX was currently higher than during the November lows which indicated greater concern on the part of investors.
Acampora indicated he was concerned near term, but bullish over the long term. He said there is a good chance we go over the “cliff” and the downside would be in the three to four percent range for the stock market. However, he predicted the stock market would catch up to the rest of the world and hit all-time new highs sometime next year.
Back in August 2011, Acampora said the market was in the process of forming a bottom [link].