StockHouse: What's your take on the recent market volatility?
Wolanchuk: Basically, there's nothing abnormal about it. It just gets bigger the higher we go. The moves, actually, in terms of percentage, they're not that much.
StockHouse: But on Tuesday, NASDAQ was down by 13% at one point.
Wolanchuk: In 1987, we had a volatility of 38% in a few days. Let's face it, the measure of the rally that's coming is always measured by the extent of the decline that precedes it. If the decline is sharp and deep, generally the advance that follows is going to be quite huge. We're going to have a huge rally out of this.
StockHouse: Was yesterday the bottom of the NASDAQ?
Wolanchuk: Yeah, sure. The NASDAQ - you'll never see that level again in your lifetime. Never. You're going to come down a bit in the next couple days, but you aren't going to see these lows again. The Dow will never see 10,000 again in your lifetime, in my estimation. The Dow, remember, it had a 1,500 point rally. This was just a little corrective thing here. Now we're ready to blast off. There are so many Dow stocks that are ready to support a blast-off, it's totally beyond belief. . A stock like Procter & Gamble [PG] is going to contribute mightily to the Dow's advance.
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