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
For all of Art's Comments, go here
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Showing posts with label stock market rally. Show all posts
Showing posts with label stock market rally. Show all posts
Wednesday, July 1, 2009
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.
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
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
For the latest updates on the stock market, visit, http://daytradingstockblog.blogspot.com/ or Subscribe for Free
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.
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
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
For the latest updates on the stock market, visit, http://daytradingstockblog.blogspot.com/ or Subscribe for Free
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.
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
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
For the latest updates on the stock market, visit, http://daytradingstockblog.blogspot.com/ or Subscribe for Free
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.
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
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
For the latest updates on the stock market, visit, http://daytradingstockblog.blogspot.com/ or Subscribe for Free
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!
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
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
For the latest updates on the stock market, visit, http://daytradingstockblog.blogspot.com/ or Subscribe for Free
Tuesday, November 18, 2008
Art Cashin CNBC 11/18/08 - HPQ News
Art Cashin of UBS was on CNBC this morning 11/18/08. Below are Art Cashin's comments.
HPQ news was good news, technology stocks have been badly beaten down, The Hewlett Packard News is a sigh of relief, don't know if its a turnaround for the markets though.
As far as testing the lows goes, the lows testing we have been doing lately is raising some concern. Each bounce off the lows is weaker, if we restest the lows and break down, we could really spiral down.
The PPT ( Plunge Protection Program ) is nonsense, Art Cashin doesn't think the Government is buying the S&P's every time we plunge to spark a rally like a previous guest on CNBC had eluded too.
For all of Art Cashin's comments over the past several weeks, click here
For more updates on the stock market, visit, http://daytradingstockblog.blogspot.com/
HPQ news was good news, technology stocks have been badly beaten down, The Hewlett Packard News is a sigh of relief, don't know if its a turnaround for the markets though.
As far as testing the lows goes, the lows testing we have been doing lately is raising some concern. Each bounce off the lows is weaker, if we restest the lows and break down, we could really spiral down.
The PPT ( Plunge Protection Program ) is nonsense, Art Cashin doesn't think the Government is buying the S&P's every time we plunge to spark a rally like a previous guest on CNBC had eluded too.
For all of Art Cashin's comments over the past several weeks, click here
For more updates on the stock market, visit, http://daytradingstockblog.blogspot.com/
Friday, November 14, 2008
Art Cashin CNBC 11/14/08 Capitulation Comments
Art Cashin of UBS was on CNBC this morning, 11/14/08, and gave some comments on yesterdays rally.
It was as close to capitulation as you could have come....the Dow Jones held its lows, we made a big reversal off the lows and rallied. I would have liked more volume but we got around 2 billion in volume which is good. The only downside was the financials didn't really participate in the big rally yesterday, but we'll take it!
We are going to retest the rally this morning and see how we hold up.
I got what I wanted yesterday, today, 11/14/08, should be another volatile day, we will get a better feel as to what we do next week.
See all of Art Cashin's comments over the past several weeks, HERE
http://daytradingstockblog.blogspot.com/
It was as close to capitulation as you could have come....the Dow Jones held its lows, we made a big reversal off the lows and rallied. I would have liked more volume but we got around 2 billion in volume which is good. The only downside was the financials didn't really participate in the big rally yesterday, but we'll take it!
We are going to retest the rally this morning and see how we hold up.
I got what I wanted yesterday, today, 11/14/08, should be another volatile day, we will get a better feel as to what we do next week.
See all of Art Cashin's comments over the past several weeks, HERE
http://daytradingstockblog.blogspot.com/
Wednesday, October 29, 2008
Art Cashin CNBC 10/29/08 - Bottom Call, Yen Comments
Art Cashin was on CNBC 10/29/09 and he had these comments to say:
Tuesday the Yen skyrocketed and you had the g7 intervention which crushed the carry trade, we then had selling everywhere.
When the Yen eased it started a rally, everyone waited to see if the last hour sellers would show up, they didn't show, it sparked a huge rally.
This afternoon, a 50 point rate cut is priced into the market and we are hoping to hear the credit markets are easing from the Federal Reserve. If we get a .25 cut, you would see a sell off....but then again the market might say, wait a minute, things might not be so bad if they only cut .25 and they might rally it.
Monday we retested the lows and rallied Tuesday....this rally might actually have legs and you might be able to start buying the dips, we'll have to wait and see.
I think this bottom is a temporary bottom, not the final bottom, but we might rally into the end of the year but in 2009 we should get the real bottom.
http://daytradingstockblog.blogspot.com/
Tuesday the Yen skyrocketed and you had the g7 intervention which crushed the carry trade, we then had selling everywhere.
When the Yen eased it started a rally, everyone waited to see if the last hour sellers would show up, they didn't show, it sparked a huge rally.
This afternoon, a 50 point rate cut is priced into the market and we are hoping to hear the credit markets are easing from the Federal Reserve. If we get a .25 cut, you would see a sell off....but then again the market might say, wait a minute, things might not be so bad if they only cut .25 and they might rally it.
Monday we retested the lows and rallied Tuesday....this rally might actually have legs and you might be able to start buying the dips, we'll have to wait and see.
I think this bottom is a temporary bottom, not the final bottom, but we might rally into the end of the year but in 2009 we should get the real bottom.
http://daytradingstockblog.blogspot.com/
Tuesday, October 28, 2008
Art Cashin CNBC 10/28/08 - Rally for Stocks? Capitulation
Art Cashin CNBC - 10/28/08
Art Cashing was on cnbc today, October 28th, 2008 and he has these things to say, and it almost sounded like he will soon be giving in if we can stage a little rally today. There is a feeling down here on the floor that there is about to happen whether its to the upside or downside, we don't know yet. Everything that happened recently as far as capitulation happened in other continents - if we could have only done it here in the US markets it would been so easy, you get the huge sell off and then you back up the truck. This rally could hold, however but it would just be so simple to get capitulation over with.
The thing that has been denying the big sell off I have been expecting is the fact that its to late to sell, people don't react to the big sell offs anymore. I think at this time, You need an event to happen, something major to get forced selling where everyone throws in the towel...whether we get that or not...we'll have to see.
Click Here for recent comments by Art Cashin, Floor trader on the New York Stock Exchange from UBS
http://daytradingstockblog.blogspot.com/
Art Cashing was on cnbc today, October 28th, 2008 and he has these things to say, and it almost sounded like he will soon be giving in if we can stage a little rally today. There is a feeling down here on the floor that there is about to happen whether its to the upside or downside, we don't know yet. Everything that happened recently as far as capitulation happened in other continents - if we could have only done it here in the US markets it would been so easy, you get the huge sell off and then you back up the truck. This rally could hold, however but it would just be so simple to get capitulation over with.
The thing that has been denying the big sell off I have been expecting is the fact that its to late to sell, people don't react to the big sell offs anymore. I think at this time, You need an event to happen, something major to get forced selling where everyone throws in the towel...whether we get that or not...we'll have to see.
Click Here for recent comments by Art Cashin, Floor trader on the New York Stock Exchange from UBS
http://daytradingstockblog.blogspot.com/
Thursday, September 18, 2008
Pre Market Stock Trading 9/19/08 - Short Selling, RTC Plan
Yesterdays explosive rally in the stock market was started by CNBC as they hinted at the possibility that the government was working on an RTC plan.
This morning we have news that short selling will be banned in most financial companies until Oct 2nd.
The SEC, which had convened a late-night commission meeting Thursday to consider several items, said in a statement early Friday morning it is halting short selling on 799 financial stocks. The ban, which is effective immediately, is set to last for 10 days, but could be extended for up to 30 days.
The Dow briefly dipped below 10,500 around 1pm yesterday ( MS stock $12 per share ) and it is set to open at 11,250 ( MS stock set to open a $30 per share )
I have been slacking on my Technical Analysis Stock Charts over the past few weeks because this market is so volatile....I will update them all this weekend!
This morning we have news that short selling will be banned in most financial companies until Oct 2nd.
The SEC, which had convened a late-night commission meeting Thursday to consider several items, said in a statement early Friday morning it is halting short selling on 799 financial stocks. The ban, which is effective immediately, is set to last for 10 days, but could be extended for up to 30 days.
The Dow briefly dipped below 10,500 around 1pm yesterday ( MS stock $12 per share ) and it is set to open at 11,250 ( MS stock set to open a $30 per share )
I have been slacking on my Technical Analysis Stock Charts over the past few weeks because this market is so volatile....I will update them all this weekend!
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