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Art Cashin: "Why Fixing Greece Presents Problems"

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Wed, 02/10/2010 - 13:15 | 225085 Master Bates
Master Bates's picture

Depending on the count, either wave 2 will bounce off of the downward trendline and we'll go lower now, or we'll break through the downward trendline to the upside and put in a lower low in the 1100 resistance area before beginning the slope downward again later in February.

Either way, it's a bearish count for the short term, and the correction is most likely not over.

Wed, 02/10/2010 - 13:19 | 225094 Cognitive Dissonance
Cognitive Dissonance's picture

Poor Art.

Don't you know that a straight shooting, square edged, honest broker of knowledge and information is an archaic relic from the 70's and 80's and will not be tolerated in the modern age of new speak, spin doctors and bubble elevation by imperial edict?

Art Cashin is dead. (Disappeared is probably his fate if he doesn't shut up and retire.) Long live Art Cashin.

Wed, 02/10/2010 - 17:02 | 225528 SRV - ES339
SRV - ES339's picture

+1

Wed, 02/10/2010 - 13:44 | 225114 Bam_Man
Bam_Man's picture

Anybody have any idea how the Irish are feeling about this Greek bailout?

Those poor devils were never offered a bail out and have already been forced to swallow the austerity medicine.

There might be a lesson to be learned there for the other 3 PIIGS.

Wed, 02/10/2010 - 14:07 | 225153 crosey
crosey's picture

+1

Wed, 02/10/2010 - 14:40 | 225225 huggy_in_london
huggy_in_london's picture

I'll tell you ... the same way Lehman staffers/equity holders/bond holders are feeling still !!

Wed, 02/10/2010 - 13:54 | 225127 Miyagi_san
Miyagi_san's picture

I got the Trivia ?.... Nothing, just call INS at 3:30

Wed, 02/10/2010 - 13:59 | 225135 bruce wayne
bruce wayne's picture

70 for the painters and 30 for the trimmers.

 

(3*70) + (4*30) = 330

(210) + (120)

 

(4*70) + (3*30) = 370

(280) + (90)

Wed, 02/10/2010 - 14:01 | 225141 badtimes (not verified)
badtimes's picture

yes, this crisis will get much worse. march lows to be rboken. currently reading: http://stocknews.freeoda.com

Wed, 02/10/2010 - 14:11 | 225167 Anonymous
Anonymous's picture

I guess if the German geezers bail the Greek boozers then the geezers have to pay higher rates on their bonds. The free lunch is over.

Wed, 02/10/2010 - 14:31 | 225200 crzyhun
crzyhun's picture

SNAFU to the Euro and their big government brethern.

Aside form the ad hominum, the EU is going to now be tested in adversity. If there ever was a house of cards folks the EU is it both financially and politically. And greece, while I love their olive oil, when will they ever start paying their fair share of domestic taxes, ha ha.

Wed, 02/10/2010 - 15:25 | 225325 Prof Gulliver
Prof Gulliver's picture

“one scenario suggests that the rescue rally runs out of steam today or tomorrow. It then could reverse sharply to the downside…A second scenario suggests that the rally hangs on, consolidating as it again tests the 1105/1110 area."

 

One scenario suggests my coin flip will come up heads. But a second scenario suggests it could come up tails.

Wed, 02/10/2010 - 15:40 | 225347 carbonmutant
carbonmutant's picture

Vallejo, California may have a solution...

Bankruptcy Bloodbath May Hit Muni Owners

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aFSyRefHzm_Q

Fitch is of course concerned that this kind of thing may be contagious... ya think?

Wed, 02/10/2010 - 15:45 | 225353 Anonymous
Anonymous's picture

I still can't figure out why everyone is talking about grease.

Wed, 02/10/2010 - 16:28 | 225453 Anonymous
Anonymous's picture

I will be very surprised if there is any kind of bailout of Greece announced tomorrow. The price is just too high for Germany and its government, not only in financial but political terms. Also, if Greece is bailed out, Portugal and Spain will follow.

Thu, 02/11/2010 - 06:11 | 226410 Anonymous
Anonymous's picture

I will be very surprised if some kind of rescue is not announced.

Europeans can always be counted on to take the easy way out. A Greek bailout allows them to put off tough choices until later.

This is why concerns over constitutionality are misplaced. First priority is to come up with a deal, then the parties responsible will find the legal cover.

Mon, 04/19/2010 - 10:31 | 307886 Tom123456
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