You're now on the archive server. Commenting has been disabled.
Art Cashin Video Warning About 1987 Similarities Pulled In Favor Of Jarvis Market Commentary
In an article on cnbc.com which covers Art Cashin's observations between the "eerie" similarities of the current market and the exponential ramp in the Spring and Summer of 1987 (and we all know how that ended), the video that accompanies it and is supposed to show Art Cashin's real time ruminations was replaced with an overlay of Rebecca Jarvis discussing market headlines. Obviously, this is merely a glaring technical glitch at the GE subsidiary.
The highlights from the article (which one hopes will not be pulled):
“I’m still somewhat skeptical about this [market],” said Cashin. “I’ve
been wrong—got out too early. I took some money off the table a few
weeks ago—didn’t take it all off.”
“There’s just some eerie things about this—it’s reminiscent of spring
and summer of ‘87 when nobody believed the rally and it kept going up
despite skepticism, people shorting into it,” he said. “It ate them
alive until it suddenly turned.”
Always better to keep these things under wraps of course, and not provide some clip that could go viral in a matter of minutes.
We hope CNBC promptly rectifies this error.
h/t Don
»
- 8044 reads
- Printer-friendly version
- Send to friend
Similar Articles You Might Enjoy:
- Art Cashin On Fraudclosure Reminds Everyone That "Things Could Turn Very Ugly"
- Art Cashin Compares This Week's Action To The Days Before Black Friday
- Art Cashin FTW: "QE2 Is Beginning To Look Like An Open-Air Multi-Month Version Of The PPT"
- Art Cashin On Corriente's "Enormous China Bubble"
- RANsquawk EU Market Re-Cap - 19th April 2013
The Dept. of Media and Propaganda is the most efficient Gov't entity out there, highly motivated and full of initiative. They should start training the other agencies.
Looks like Art may be in need of some rehabilitation. The old man is talking heresy.
Interestingly we closed at the 1938 - 1987 trend line last night. It certainly feels like once this turns then there will be a lot of people (well maybe computers) all trying to get out at once - which would not be pretty. For the trend line look at: http://www.apartofny.com/2009/09/crash-watch-update/
Three peaks and a domed house in '87 and '29
http://anonymousmonetarist.blogspot.com/2009/09/is-s-1044-point-23.html
But, didn't you read their disclaimer about data accuracy?
Today's Screamers:
Add Stock Charts To Your Blog
Got to love YRCW. Probably out of business next year when they have to start paying back into the pension.
But the whole DOW TRANS kills me. The index makes pumping crap like Fannie and Freddie look like child's play.
fdx price 1 year ago ~85
fdx price today ~77...on -50% yoy earnings
robo....2 words.
rebecca....jarvis.
Obviously Art will be visiting a Sheinhardt Wig Company sponsored (rehabilitation camp) retreat soon enough.
Ah, yes, the retreat to move forward.
Ah, yes, the retreat to move forward.
http://www.nader.org/index.php?/archives/2139-Rolling-the-Dice-Again.html
With approximately 80 million boomers gettin' ready to bite the dust bin of history, sounds like a good play to me.
In fact a great cash incentive to help the old folks kick the can before they use up the majority of their medical benefits in the last six months of their lives.
What's good for Wall Street will be double plus good for Washington D.C.
you mean like this:
http://zeropointfield.wordpress.com/2009/07/11/zurich-authorities-get-in...
Just a badly worded piece. It's actually called "Active Death Help" for terminally ill patients and is not for people who are a tad depressed this week.
"Nostalgia Is Not What It Used To Be – A group of veteran traders watched the market rally yet again and puzzled at the process. Most of these veterans have felt for some time that the March rally has gotten well ahead of the economy. The conversation began to drift toward possible parallels to the action. That’s when the shoe was dropped.
One trader asked his fellows to recall the spring and summer of 1987. Then, too, rising prices were treated to skepticism on the floor and elsewhere. Senior specialists cautioned their juniors “not to fall in love with the rally.” Yet as prices moved steadily higher and higher, the juniors speculated that the seniors were out of touch. The slogan became – you don’t sell strength – you buy strength. And, so they did. The trader recalled that two key topics in ’87 were the dollar and Iran.
One younger broker passed by an asked what was the topic. I replied – “We’re recalling ’87.” He looked me in the eye and said – “Was that 1887 or 1987?” That’s when the meeting broke up."
- From Cashin's Comments, today
that's AWESOME.... lol
Haha. Once they have control of health care they can fix these things. All they gotta do is send someone to a doctor to be misdiagnosed and then treat them to death. Just use the types of doctors that have been running around saying everyone has skin cancer that comes to their office and wants to make $10,000 a day.
Then you can present "reasonable" explanations to a young and impressionable population.
That says it all...
I said to my husband today that we will in fact repeat many of the same ridiculously stupid things we are in the process of saving ourselves from now if we even have one penny left over when this finally breaks...he said no way, we couldn't really do the same things again, I mean they wouldn't repeat the same mistakes. Really, repeat that to yourself slowly and see if you can convince yourself that we aren't doomed to attempt to repeat the same nasty cycle we've been in a long time.
Do you have a link to Cashin's Comments? If you do, please post it. Thank you.
I heard it live on CNBC.
Can vouch for the cashin statement, drew all the
parals to the crash of '87.
Commentators fell silent. Kernan then said
that Mohammed Al Ernian indicated the same
a week prior.
How do you get Cashin's Comments... I have been trying to find that out... do I need to subscribe?
And by the way I have been trying to get that clip to play all morning... it seems to have evaporated...
Anything to protect the corporate whore in the white house and the slack jawed masses who voted him in.
well until he gets something right ... why would anyone put much credence into what he says? he's been wrong since March.
No he hasn't...he clearly expected and participated in the rally. He's just been cautious that it is too extended since the mid summer.
Let me guess, are you under 30?
no, was around in '87. i'd have to carefully go through all of Cashin's projections/warnings but as I recall very early on (ok, maybe it was end of April, not March) that every other day he said there would be a correction coming any day now.
I think Denis Kneale has been moved to the web programming dept or it was just a honest mistake. If you go the video page Ms. Jarvis's report is to the left of Art Cashins video which would lead me to believe someone goofed.
http://www.cnbc.com/id/15839263/site/14081545/?tabid=15839796&tabheader=false
Nope.
At 1:00 PM E, the 2 videos, side-by-side, have the same 30 sec roundup. If you did actually watch Art speaking on that video at 10:30, then ... well, it ain't there now.
Shades of Rose Mary Woods.
Imagine what will happen to all the Direxion triple longs if we suffer a 33% drop in a day.
direxion reserves the right to limit the drop in their products per their prospectus.
TD The CNBC erase the clip, i try to rescue for us, be patiente.
I think in CNBC and it´s similar to Chavez in Venezuela
So instead of profiting from a crash all at once. They are simply using HFT to eat anyone who nakes shorts it?
Rebecca Jarvis - wasn't she the hot cutie contestant on The Apprentice? I'm glad CNBC is casting a wide net to ensure they bring in the best minds to provide insights into the capital markets. I seem to recall Rebecca led her Apprentice team to victory in the Lemonade Stand challenge.
Big difference, the TED spread flashed warning signals prior to the crash. Currently, manipulated or not, it's at a new low.
Anything involving spreads will not give singals since HFT and FLASH massage the spreads to confusion.
Still thinking about your zinger on Ben Dovers thread buddy....
For as much CNBC bashing that zerohedge does, you sure do pay a lot of attention to them via CNBC t.v. or cnbc.com.
Hey Dennis,
Nice to see you here!
found this on youtube
Louis Rukeyser on the Friday before the 1987 crash
http://www.youtube.com/watch?v=2MyToTwag34
Thanks for that trip down memory lane. Wow, Marty Zweig with a full head of hair (almost). LOL!
For many years my Friday evening routine would include a large vodka martini and 'Wall Street Week'.
Lou was the best and probably always will be.
this is a link to a whole series of vid clips from that October week
http://www.youtube.com/user/crashof1987
Thanks for that clip. Zweig nailed it and Rukeyser was concerned about programmed trading.
Thank you for that video link. Very good video to watch.
edit...link didn't work.
was gonna throw the chart up for spx in 1987...it's a beauty and is eerily similar as Art noted. kinda eerily similar to that 1929 thing too.
Google :Three peaks and the domed house
Is that house "domed" or "doomed"?
already aware of 3 peaks, dome theory. seems to me that we are right at the top of the dome.
daneric had an interesting chart on his site recently analyzing action of double tops since autumn 2007 which is notable.
The video just shows CNBC news now. No Cashin...looks like CNBS decided they didn't like the way it sounded...
I know it just evaporated... poof!
Unfortunately this time is different. No one is shorting, so there is no similiarity in that regard. Shorts too afraid of upside risks.
I'm shorting; fear is not part of my vocabulary good sir.
The Day of Atonement is next Friday.
Well, today was probably Art's last day on CNBC -I'll miss him. Maybe Dylan Ratigan or Jeff Macke can hook Art up with something.
Mark Haines better watch his back, too. He hasn't been real positive lately.
funny... I saw Jeff Macke on his own blog the other day... he looked a little more put together since the last time I saw him... but he still has those eyes :-)
Funny... I've got eyes... and hair!
It's that darn cat again... and you are mistaken... you have fur... not hair... you should be really embarrassed... the rest of your cat friends are snickering behind your back :-)
Eric Gleacher after the John Mack interview on cnbc (at 5:05):
"John Mack was just on here. He said he was on the brink. It wasn't any different from Lehman. What's different was that someone decided that Lehman was gonna go and Morgan Stanley was gonna stay."
Of course, no follow-up questions on that statement. Gotta go.......
http://www.cnbc.com/id/15840232?video=1250439347&play=1
Video is now available.
http://www.cnbc.com/id/32796678
the video is there - http://www.cnbc.com/id/15840232?video=1250163770&play=1
http://www.cnbc.com/id/15840232?video=1250163770&play=1
The video is up
I just watched the video. I like TDs writing and tireless blogging, but its stuff like this that makes people think we need tin foil hats.
Theres no evil conspiricy here to silence Art Cashin that I can see.
But by all means keep up the good fight, I think the evidence is clear that corruption and manipulation have just about ran the USA into the ground.