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Bull market’s got another 10 to 15 years left: Pro

Monday, 21 Oct 2013 | 1:46 PM ET
Secular bull market has a lot of life yet: Acampora
Monday, 21 Oct 2013 | 12:10 PM ET
Ralph Acampora, Altaira, explains why he sees the S&P 500 hitting 1,800 this year, but expects it to go much higher longer-term.

The stock market is only in the second of three phases of a secular bull market, Altaira's director of technical research, Ralph Acampora, said Monday.

"The first phase of a secular bull market is usually led by quality," he said. "Second phase of a secular bull market, when people start to feel a little better about things, they buy secondary stocks," Acampora said. "The third and final phase is totally greed and complacency, and we're not even close to that. So, the secular bull market has a lot of life left."

On CNBC's "Fast Money," Acampora said that his 1,800 year-end target for the S&P 500 could easily be 50 points higher.

(Read more: 'I like Europe because it's not the US': Paul Richards)

Where is BAC headed next?
Ralph Acampora, Altaira, sees a $20 price target on Bank of America "fairly soon. BofA will be an "excellent long-term buy" he adds.

"I'm being a little conservative. Longer term, oh, good god—much, much higher," he said. "This is a secular bull that has at least another 10, 15 years to run."

Acampora said that Bank of America and Apple appear to be poised for "big breakouts."

(Read more: JPMorgan is 'dead money': Mike Mayo)

"I think BAC could be a $30, $35 stock, maybe even higher, someday," he said. "But I'm not talking today. I'm talking several years from now. It's an excellent long-term buy."

By CNBC's Bruno J. Navarro. Follow him on Twitter @Bruno_J_Navarro.

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