Art Cashin Election Comments 11/03/08 - CNBC

Art Cashin was on CNBC 11/03/08: Here is Art's election comments:

Two back to back up days in the stock market gives you some hope the markets are calming down for right now.

On Nov 4th ( 11/04/08 ) & Nov 5th ( 11/05/08 ) we might have a down cycle in the markets, but this fits into the election so we will have to wait and see. Those two days you might see the market struggle.

Oct 10th we made the intraday low and we said on the last Monday in October we would see a retest, we go it, i'm satisfied here, we don't have to go back and retest again, I think we can move sloppily sideways for awhile.

Elections and how it will effect the Stock Market: A few scenarios could play out here:

Obama gets in and takes total control of the house....that would spoke the markets and you could get some selling, I don't think this is priced into the market.

McCain squeaks in and you will have people saying the election was stolen and the markets would have problems for months to come.

The best scenario that is fully priced in is Obama winning but does not take full control of the House of Representatives.

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