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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Stock Market Crashes! February 10, 2009

Well, Wall Street does not like the bank rescue/bail out plan today, 2/10/09. The Stock Market was down going into the Timothy Geithner speech but the Dow has fallen an extra 200 points after the speech. Was this speech a joke? Timothy Geithner had virtually no specifics of the bank plan.

Bank Stocks fall big:

Bank of America ( BAC ) - $5.85 Down 15%
Citigroup ( C ) - $3.55 Down 10.50%
Goldman Sachs ( GS ) - $90.65 Down 7.5%

Financial Bear 3X ( FAZ ) - $45.60 Up 15%
Gold $915 Up 22

Dow Jones - 7971 - Down 300

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