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.

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