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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