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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