The bull market doesn't yet resemble the stage before the bursting of the tech bubble in 1999, Mario Gabelli (Trades, Portfolio), CEO of Gamco Investors, told CNBC Thursday.
"But you're seeing a flow of funds," the investor said. "Is it too much? Not yet. The melt-up is still in progress."
Gabelli also said to expect to see more volatility ahead.
GAMCO Investors CEO: The market melt up is still in progress from CNBC.
For stock recommendations, Gabelli named Textron (TXT, Financial) and the Liberty Braves Group (BATRA, Financial). Madison Square Garden (MSG, Financial), a $212 stock, could go to $300, he said.
Gabelli's best bets, plus the trades on Jacobs Engineering, Winnebago & Lockheed Martin from CNBC.
Â
