Discussion in 'Stocks' started by drcha, Oct 29, 2009.
Please fill me in. What did Art Cashin say this morning? I missed it. Thanks.
Just go to cnbc.com and search for "Cashin."
Essentially that the market moves are based on the US dollar moves. Which we've all known about for a year or so, or since this correlation has gone on.
He expressed a much more dramatic point of view than that the market is correlated to the dollar.
He went on to say that in his opinion we were a few ticks away from a potential disaster yesterday. His contention was that if the dollar rally had continued just a bit more the 100+ point sell off we saw in the dow could have been as much as 800 points.
I have little (read none) faith in any of these talking heads but what surprised me was that he saw this market as being that fragile. We may have a decline but I do not believe we were within a few ticks of a rout yesterday.
Which is why I only focused on the relative accuracy of his commentary on the dollar.
He asked what was said not what you thought.
Please please, anyone can express his opinion. This is why we are here. We are learning from reading thoughs with different views.
Thanks for filling me in. So.....why? Because big multinationals will tank? They have not shared much in the rally anyway. Because interest rates will rise? Or ???
He so strongly linked the rise in equity to the weak dollar -- the re-inflation trade in my mind -- that he seemed to believe:
No more weak dollar = no more rally.
art cashin needs a vacation. he has been so paranoid throughout this rally it kills me.
he may some day be right...but as of late he has been way off.
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