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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