The avuncular Art Cashin is sounding a lot less sanguine than many of his market-watching peers. UBS' main man notes that traders are particularly struck by the continued weakness in the transports group (with FedEx and UPS down 8 of the last 11 sessions - and the Dow Transports down the equivalent of 300 points for the Industrials on Friday alone). "The sharp contraction in the Transport area and recent sharp drops in several trucking statistics add to growing fears that the economy may have stalled over the last four weeks," is how he puts it, but it is his cocktail-napkin charting that concerns the most.
Whether its performance-missing anxiety or premature exuberance, UBS Art Cashin notes (as we did on Friday) the disconnect between Bonds' less sanguine appearance and equity's which "seemed determined to take a victory lap even befo... Read Post
The avuncular Art Cashin, UBS' venerable man on the floor of the NYSE has seen it all... and is not impressed by the lack of volume. On what he notes is historically a very light trading week with a mild upward bias - note, the 1929... Read Post
Art Cashin, UBS Financial Services' director of floor operations, has gotten a lot of attention for his note last Thursday suggesting that the failure of the credit default swap market could send us back to the "Middle Ages." Trader... Read Post