Art Cashin was on CNBC this morning, July 8, 2009 - and gave some comments about what he is seeing in the stock market right now. Art is a floor trader from UBS on the NYSE as well as a CNBC contributor.
Art Cashin Comments - July 8, 2009
I think we will know the coarse of the stock market by July 17, 2009. Whether we retest the lows or not, we will have an answer by the end of next week. As far as earnings go, I an discounting the earnings and focusing on the outlook.
The first stimulus package was part illusion and hope, we misused it, we may not be able to help ourselves now the we actually need it.
Stay tuned................
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Showing posts with label art cashin ubs. Show all posts
Showing posts with label art cashin ubs. Show all posts
Wednesday, July 8, 2009
Wednesday, July 1, 2009
Art Cashin CNBC 7/1/09 July 1, 2009
Art Cashin was on CNBC this morning, July 1, 2009 - and gave some comments about what he is seeing in the stock market right now. Art is a floor trader from UBS on the NYSE as well as a CNBC contributor.
Art Cashin Comments - July 1, 2009
I think the market would really like to rally, so there is usually slight prejudice in the first three trading days of the month as well as going into a holiday weekend.
The enemy of all this is that the trading is so light that any piece of news could really move that market in either direction
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Art Cashin Comments - July 1, 2009
I think the market would really like to rally, so there is usually slight prejudice in the first three trading days of the month as well as going into a holiday weekend.
The enemy of all this is that the trading is so light that any piece of news could really move that market in either direction
For all of Art's Comments, go here
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Tuesday, June 30, 2009
Art Cashin CNBC 6/30/09 June 30, 2009
Art Cashin was on CNBC this morning, June 30, 2009 - and gave some comments about what he is seeing in the stock market right now.
We are at 8500 again....are we still in the sideways trade?
Looks like we will continue...stock market is looking tired. We are waiting to see a break out of this range. It can go either way at this point, we are just watching and waiting.
Earnings are upon us:
I suspect we will see no visibility, the bar for earnings is low so they should be able to meet those. The key will be the outlook going forward. There are signs that we cannot see ahead. If Oil rises above $74, you could see a short covering spike and that could hurt things.
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We are at 8500 again....are we still in the sideways trade?
Looks like we will continue...stock market is looking tired. We are waiting to see a break out of this range. It can go either way at this point, we are just watching and waiting.
Earnings are upon us:
I suspect we will see no visibility, the bar for earnings is low so they should be able to meet those. The key will be the outlook going forward. There are signs that we cannot see ahead. If Oil rises above $74, you could see a short covering spike and that could hurt things.
For all of Art's Comments, go here
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Friday, March 27, 2009
Art Cashin CNBC 3/27/09 March 27, 2009
Art Cashin was on CNBC this morning, March 27, 2009 - and gave some comments about what he is seeing in the stock market right now.
Are there any Bears left Art? Can this rally last?
Window Dressing: You are seeing some window dressing - Fund managers are seeing this sharp rally and its making headlines, - they are attempting to buy the winners so they show up in their portfolios ( when the statements go out ). Today may be the last important day...we will see what happens at the end of the day.
Raise Cash? I thought there would be a powerful rally weeks ago, there might be a little bit of steam left in this rally. 70% of stocks are above 50 day moving average, when you see 80% the rally starts to die. We might have a change in direction around Easter...just not sure which way yet.
Shorts have had fear placed back on their plate...I think they are nervous now but if we get another dip, they might try and push it down once again.
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Are there any Bears left Art? Can this rally last?
Window Dressing: You are seeing some window dressing - Fund managers are seeing this sharp rally and its making headlines, - they are attempting to buy the winners so they show up in their portfolios ( when the statements go out ). Today may be the last important day...we will see what happens at the end of the day.
Raise Cash? I thought there would be a powerful rally weeks ago, there might be a little bit of steam left in this rally. 70% of stocks are above 50 day moving average, when you see 80% the rally starts to die. We might have a change in direction around Easter...just not sure which way yet.
Shorts have had fear placed back on their plate...I think they are nervous now but if we get another dip, they might try and push it down once again.
For all of Art's Comments, go here
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Tuesday, March 24, 2009
Art Cashin CNBC 3/24/09 March 24, 2009
Art Cashin was on CNBC this morning, March 24, 2009 - and gave some comments about the explosive rally we saw yesterday. Art Cashin came on CNBC around 2:30pm and said yesterday's stock market rally would either start to fade or we will have a fireworks explosion to the upside. The Dow Jones ended up going up an additional 200 points!
Art Cashin Comments -3/24/09
How impressive was the rally?
It was a stand out day, 97% of nyse stocks traded up, the VIX didn't pullback, but you can't take anything away from the rally. This current rally ranks in the Top 10 rallies. We punched through 804 resistance on the S&P 500, we are now overbought, we will have to rest here and wait to see what comes out of Washington.
Toxic Asset Comments:
Will the sellers sell at low prices?
If they sell, what will they do with the money? Probably pay the TARP back as quick as they can, they don't want the mother in the kitchen ( Washington ). Goldman Sachs came out yesterday and said they would do this.
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Art Cashin Comments -3/24/09
How impressive was the rally?
It was a stand out day, 97% of nyse stocks traded up, the VIX didn't pullback, but you can't take anything away from the rally. This current rally ranks in the Top 10 rallies. We punched through 804 resistance on the S&P 500, we are now overbought, we will have to rest here and wait to see what comes out of Washington.
Toxic Asset Comments:
Will the sellers sell at low prices?
If they sell, what will they do with the money? Probably pay the TARP back as quick as they can, they don't want the mother in the kitchen ( Washington ). Goldman Sachs came out yesterday and said they would do this.
For all of Art's Comments, go here
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Tuesday, March 17, 2009
Art Cashin CNBC 3/17/09 March 17, 2009
Art Cashin was on CNBC this morning, March 17, 2009 - and gave some comments about the stock market on St Patrick's Day 2009.
Art Cashin Comments -3/17/09
Is the stock market rally / bounce over?
The jury still out, yesterday the market go ahead of itself, hit some resistance around 7400, and then closed down. We would not like to have two down days in a row.....more down action could take us down to retest 720 on the S&P 500.
If this rally isn't the real deal we will fail badly, but from that will spring the real rally.
Whats next?
Watching for what comes out of TALF, if that doesn't work, the Fed might get aggressive and go in and buy toxic assets.
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Art Cashin Comments -3/17/09
Is the stock market rally / bounce over?
The jury still out, yesterday the market go ahead of itself, hit some resistance around 7400, and then closed down. We would not like to have two down days in a row.....more down action could take us down to retest 720 on the S&P 500.
If this rally isn't the real deal we will fail badly, but from that will spring the real rally.
Whats next?
Watching for what comes out of TALF, if that doesn't work, the Fed might get aggressive and go in and buy toxic assets.
For all of Art's Comments, go here
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Friday, March 13, 2009
Art Cashin 3/13/09 March 13, 2009 - Rally
Art Cashin, floor trader on the NYSE, was on CNBC this morning and gave several stock market related comments on what he is seeing.
Art Cashin Comments -3/13/09
Should we be worried because we've rallied so much?
We do have to have some concern, this is starting to look like a crowded trade - all of a sudden everyone is bullish on the stock market.
Also Volume is holding up only on short covering - you see heavy volume going into the bank sector but light volume everywhere else.
We closed at the top yesterday, closing at the top is usually followed by sideways action or down
I guess this rally needs to prove itself!
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Art Cashin Comments -3/13/09
Should we be worried because we've rallied so much?
We do have to have some concern, this is starting to look like a crowded trade - all of a sudden everyone is bullish on the stock market.
Also Volume is holding up only on short covering - you see heavy volume going into the bank sector but light volume everywhere else.
We closed at the top yesterday, closing at the top is usually followed by sideways action or down
I guess this rally needs to prove itself!
For all of Art's Comments, go here
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Thursday, March 12, 2009
Art Cashin 3/12/09 March 12, 2009 - SP 500
Art Cashin, floor trader on the NYSE, was on CNBC this morning and gave several stock market related comments on what he is seeing.
Art Cashin Comments -3/12/09
Art, what do you think about the mark to market rule?
On Mark to Market - we saw futures tick up on the PA congressman's comments on suspending the accounting rule. If they can pull it off you could see this rally have legs. We are pushing for an adjustment or suspension of the mark to market rule....its not to cover up things, its to prevent ridiculous pricing of things in the market place
What is your opinion of the stock market right now?
I think what we want to watch is 740-745 on the S&P 500...Also support is 713 and we need to stay above 700. On the Dow, we have resistance at 7000-7025
Things are getting interesting!
For all of Art's Comments, go here
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Art Cashin Comments -3/12/09
Art, what do you think about the mark to market rule?
On Mark to Market - we saw futures tick up on the PA congressman's comments on suspending the accounting rule. If they can pull it off you could see this rally have legs. We are pushing for an adjustment or suspension of the mark to market rule....its not to cover up things, its to prevent ridiculous pricing of things in the market place
What is your opinion of the stock market right now?
I think what we want to watch is 740-745 on the S&P 500...Also support is 713 and we need to stay above 700. On the Dow, we have resistance at 7000-7025
Things are getting interesting!
For all of Art's Comments, go here
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Friday, February 27, 2009
Art Cashin CNBC 2/27/09 February 27, 2009
Art Cashin, floor trader with UBS, has come on CNBC today, February 27, 2009, and gave some comments on Citigroup and the overall stock market as we plunge to new lows in pre market.
Art Cashin CNBC comments 2/27/09
Art what happened today?
We will have to see what happens in the next 60 days, saw some signs of this yesterday with Sallie Mae SLM. The market is testing the lows this morning.
President Obama has a lot of political capital but he seems to using it up, the gallop poll has him lower then Bush in the first month of Presidency, its confusing.
Citigroup News:
Dilution, Citi avoided death, were aren't going to kill then but we will break both of their arms.
If we break 740 on the S&P 500 and this could be a very tough week coming up next week.
For all of Art's Comments, go here
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Art Cashin CNBC comments 2/27/09
Art what happened today?
We will have to see what happens in the next 60 days, saw some signs of this yesterday with Sallie Mae SLM. The market is testing the lows this morning.
President Obama has a lot of political capital but he seems to using it up, the gallop poll has him lower then Bush in the first month of Presidency, its confusing.
Citigroup News:
Dilution, Citi avoided death, were aren't going to kill then but we will break both of their arms.
If we break 740 on the S&P 500 and this could be a very tough week coming up next week.
For all of Art's Comments, go here
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Friday, February 20, 2009
Art Cashin CNBC 2/20/09 February 2009
Art Cashin, floor trader from UBS, was on CNBC this morning ( February 20, 2009 ) and gave comments on the Stock Market and what to look for.
Art, where do we go now that we broke the lows in the Dow Jones yesterday?
It's a complicated case, we have a Dow theory sell signal since we closed at a new low yesterday....what i'm hoping for is we test the S&P 500 over the next few days and if we hold 741 we could see a rather significant bounce. We could have a brief pop...or a real bear market rally...we will know in a few days. If we break 741 then there will be debate as to us testing the 2002 or 1997 lows.
Bank Nationalization Fears: When you here Alan Greenspan chime in, you definitely have fears. There are certainly rumors going around. For all of Art's Comments, go here
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Art, where do we go now that we broke the lows in the Dow Jones yesterday?
It's a complicated case, we have a Dow theory sell signal since we closed at a new low yesterday....what i'm hoping for is we test the S&P 500 over the next few days and if we hold 741 we could see a rather significant bounce. We could have a brief pop...or a real bear market rally...we will know in a few days. If we break 741 then there will be debate as to us testing the 2002 or 1997 lows.
Bank Nationalization Fears: When you here Alan Greenspan chime in, you definitely have fears. There are certainly rumors going around. For all of Art's Comments, go here
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Wednesday, February 11, 2009
Art Cashin CNBC 2/11/09 February 11, 2009
Art Cashin, floor trader of UBS on the NYSE, was on CNBC this morning ( 2/11/09 ) and gave his comments on what he sees going forward.
Where do we stand Art?
Timothy Geithner's plan was very troubling because they made this huge media buildup and we got nothing out of it. Even Barack Obama didn't want to talk about it much Monday Night because he didn't want to " steal Timothy Geithner's Thunder" and it turns out Timothy Geithner failed in his first big moment.
S&P 500 Analysis
Yesterday, we did some damage in the stock market....the S&P 500 stopped right at the bottom of the recent trend line at 822. This was the trend like that held 804 a few weeks ago. If we break 822 I think we could go down and retest the lows. The S&P 500 is holding on by a thing thread! For all of Art's Comments, go here
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Where do we stand Art?
Timothy Geithner's plan was very troubling because they made this huge media buildup and we got nothing out of it. Even Barack Obama didn't want to talk about it much Monday Night because he didn't want to " steal Timothy Geithner's Thunder" and it turns out Timothy Geithner failed in his first big moment.
S&P 500 Analysis
Yesterday, we did some damage in the stock market....the S&P 500 stopped right at the bottom of the recent trend line at 822. This was the trend like that held 804 a few weeks ago. If we break 822 I think we could go down and retest the lows. The S&P 500 is holding on by a thing thread! For all of Art's Comments, go here
For the latest updates on the stock market, visit, http://daytradingstockblog.blogspot.com/ or Subscribe for Free
Wednesday, February 4, 2009
Art Cashin CNBC Comments 2/4/09
Art Cashin, a floor trader on the NYSE for UBS, came on CNBC this afternoon and made some comments on falling stock market.
What do you see Art?
Late day rumors....Bank of America ( BAC ) falling below $5 isn't good. If you recall, when Citigroup ( C ) fell below $5, some Mutual Funds couldn't hold it, this could be the case with BAC, we'll have to see.
The stock market could get worse, this reversal today has given the bears the initiative for the next few days unless the bulls can rally the market in the last hour today.
For all of Art's Comments, go here
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What do you see Art?
Late day rumors....Bank of America ( BAC ) falling below $5 isn't good. If you recall, when Citigroup ( C ) fell below $5, some Mutual Funds couldn't hold it, this could be the case with BAC, we'll have to see.
The stock market could get worse, this reversal today has given the bears the initiative for the next few days unless the bulls can rally the market in the last hour today.
For all of Art's Comments, go here
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Wednesday, January 14, 2009
Art Cashin CNBC 1/14/09 January 14, 2009
Art Cashin came on CNBC today, 1/14/09, and gave his comments on the stock market. Art is a floor trader from UBS on the floor of the NYSE.
Art Cashin Comments January 14, 2009
Retail sales were ugly this morning combined with the concern over Tim Geithner as Treasury Secretary. For the start of the year, we had rally - people are staying away from the market in case Geithner does not get in there due to these tax problems.
Some people are saying the blow to financials could effect New York real estate industry in a big way.
Optimism? We stopped rallying on bad news - this is not good! We are at key levels in the markets, for the S&P 500, keep an eye on 850, if that fails we could give back all of November's rally.
For all of Art's Comments, go here
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Art Cashin Comments January 14, 2009
Retail sales were ugly this morning combined with the concern over Tim Geithner as Treasury Secretary. For the start of the year, we had rally - people are staying away from the market in case Geithner does not get in there due to these tax problems.
Some people are saying the blow to financials could effect New York real estate industry in a big way.
Optimism? We stopped rallying on bad news - this is not good! We are at key levels in the markets, for the S&P 500, keep an eye on 850, if that fails we could give back all of November's rally.
For all of Art's Comments, go here
For the latest updates on the stock market, visit, http://daytradingstockblog.blogspot.com/ or Subscribe for Free
Tuesday, December 16, 2008
Art Cashin CNBC 12/16/08 - Goldman Sachs GS
Art Cashin, NYSE floor trader from UBS, was on CNBC 12/16/08 and gave his comments on what he is looking at today as far as the stock market goes.
What are you watching today Art?
I think we need to sit back and wait for the Fed and GE guidance that will be coming this afternoon. The Goldman Sachs ( GS ) earnings were neutral, weren't as bad as people expected but their rating was downgraded by Moody's. We also have to see if there is more fall out from the Madoff scandal.
Traders want to hear something on this quantitative easing from the Federal Reserve Today.
For all of Art's Comments, go here
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What are you watching today Art?
I think we need to sit back and wait for the Fed and GE guidance that will be coming this afternoon. The Goldman Sachs ( GS ) earnings were neutral, weren't as bad as people expected but their rating was downgraded by Moody's. We also have to see if there is more fall out from the Madoff scandal.
Traders want to hear something on this quantitative easing from the Federal Reserve Today.
For all of Art's Comments, go here
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Tuesday, December 9, 2008
Santa Claus Rally - Art Cashin CNBC 12/9/08
Art Cashin of UBS was on CNBC this morning, 12/9/08, and gave some comments on this recent Santa Claus rally.
I don't know if the Santa Claus rally is here yet, Friday's action was great after bad news, the two days ( Friday and Monday ) weren't frenzied, 4% moves tend to happen in bear markets which is a little concerning.
What are you most worried about? You have to worry about a major geopolitical event that could halt this rally. I'm worried about that we committed over a trillion dollars and if we get some sort of geopolitical event, where is the money going to come from? The economic data that will be coming out this week is rear view mirror looking and the market already knows it will be bad. For more Art Cashin comments, go HERE
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I don't know if the Santa Claus rally is here yet, Friday's action was great after bad news, the two days ( Friday and Monday ) weren't frenzied, 4% moves tend to happen in bear markets which is a little concerning.
What are you most worried about? You have to worry about a major geopolitical event that could halt this rally. I'm worried about that we committed over a trillion dollars and if we get some sort of geopolitical event, where is the money going to come from? The economic data that will be coming out this week is rear view mirror looking and the market already knows it will be bad. For more Art Cashin comments, go HERE
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Monday, December 8, 2008
Art Cashin CNBC 12/08/08 - December 8 - 2008
Today, 12/8/08, Art Cashin floor trader from UBS was on CNBC and gave comments on the stocm market bounce we are getting this morning.
Art Cashin Comments - December 8th, 2008
I still feel good about the markets, we had a nice reversal Friday, closed up on bad news, bottoming process, won't go all in until next week, we could have another bump in the road due to some cycles coming together.
The Santa Claus rally might be beginning, and if you listen closely, you might hear sleigh bells.
For more Art Cashin comments, go HERE
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Art Cashin Comments - December 8th, 2008
I still feel good about the markets, we had a nice reversal Friday, closed up on bad news, bottoming process, won't go all in until next week, we could have another bump in the road due to some cycles coming together.
The Santa Claus rally might be beginning, and if you listen closely, you might hear sleigh bells.
For more Art Cashin comments, go HERE
For the latest updates on the stock market, visit, http://daytradingstockblog.blogspot.com/ or Subscribe for Free
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