steve eisman the investor who called and profited from the subprime mortgage crisis said monday that the stock market could continue to march higher if theres no signs of a recession so far theres no evidence of a recession so as long as theres no evidence of recession and i think the market will probably continue to melt up people are chasing eisman senior portfolio manager at neuberger berman said on cnbcs  squawk box the dow jones industrial average just pulled off its 10th straight positive day friday notching its longest rally since 2017 the s  p 500 has rallied more than 18 this year after scoring its best first half since 2019 the latest leg of the rally was triggered by softerthanexpected inflation reading which could give the federal reserve some breathing room in its tightening cycle we came into the year where most people were predicting the most anticipated recession thats never happened eisman said a lot of people were very conservatively positioned and theyre trailing so theyre trying to keep up the investor of the big short fame said he is staying fully invested and would rather holding onto his winning positions instead of taking profits because of high capital gains taxes today the tax implications are onerous so if you sell something that you have a big gain in and you pay a 35 tax  wed rather stick with positions and just hold them eisman said eisman shot to fame by betting against subprime mortgage loans before the 2008 financial crisis as chronicled in michael lewis the big short and the subsequent oscarwinning movie based on the book the widely followed investor said he does have concerns about rate hikes impact on the economy which hasnt been visible in the economic data the one thing i worry about is that the fed has raised rates a lot its certainly possible that will have a very negative impact on the economy and were very worried about that but theres no data to support it at this time eisman said