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12 Words Of Wisdom From Art Cashin For This Week

Tyler Durden's picture




 

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 high was made the day after Labor Day - Cashin has 12 simple words for the exuberant trader this week...

"Thin markets can be tricky..stay wary, alert and very, very nimble."

Trade accordingly.

 

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Mon, 08/25/2014 - 11:01 | 5140555 JRobby
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SELL!!!!!!!!!!!!!!!!!!!

Mon, 08/25/2014 - 11:02 | 5140570 WayBehind
WayBehind's picture

This old greedy prick is just one of them. Dont believe one word he says.

Mon, 08/25/2014 - 11:09 | 5140595 Keyser
Keyser's picture

Or else he knows something he is not sharing... 

Mon, 08/25/2014 - 14:24 | 5141202 Supernova Born
Supernova Born's picture

This market is a going up like a volcano dome until it takes a little off the top like Mt. St. Helens.

Mon, 08/25/2014 - 11:10 | 5140607 PartysOver
PartysOver's picture

The "old greedy prick" looks to be spot on today for the ES.

Mon, 08/25/2014 - 11:15 | 5140623 SWCroaker
SWCroaker's picture

I like Art; he has neat stories.   But the advice he offers never changes, cause it applies to all situations.   Smart on his part, makes for a great track record, but pretty useless as a short term weather vane.

He defines the role of "color" analyst.

Mon, 08/25/2014 - 11:23 | 5140646 Hippocratic Oaf
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He's the best CNBS has.

Whatever that means.

Mon, 08/25/2014 - 11:29 | 5140662 Divided States ...
Divided States of America's picture

Yeah, the old Fart has been the voice of reason all these years even as the market is surging nonsensibly. I am surprised he hasnt had a massive stroke yet. Kudos to him for not swaying away from his true thoughts...I cant say that with the other old Fart (Dennis Gartman)

Mon, 08/25/2014 - 11:34 | 5140672 JRobby
JRobby's picture

Nothing like a big all caps "SELL" to bring out the self confidence in all the day trader bretheren.

Wells: You don't have to do this. I'm a day trader. I could just go home.
Chigurh: You could?
Wells: I could make it worth your while. I could take you to an ATM with 14 grand in it, and everyone just walks away.
Chigurh: [amused] An ATM.
Chigurh: I do know to a certainty. And you know what's going to happen now, Carson. You should admit your situation. There would be more dignity in it.

Mon, 08/25/2014 - 12:37 | 5140927 knukles
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+ a whole bunch for the No Country reference.
Bardiem palyed the sociopath to perfection.

Mon, 08/25/2014 - 13:07 | 5141043 stocktivity
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Art and Rick Santelli are the best of the CNBC lot. Huge drop off after those two.

Mon, 08/25/2014 - 11:33 | 5140676 Bangin7GramRocks
Bangin7GramRocks's picture

No shit! How the fuck would a wise old bastard like him not know that the whole fucking thing is rigged? Not possible. I'm sure he has his island all ready for when it all crashes down.

Mon, 08/25/2014 - 11:34 | 5140680 More_sellers_th...
More_sellers_than_buyers's picture

Art is a nice guy.  The polar opposite of a greedy prick.  Know him well, and the advice he gives is to be taken with a grain of salt as the markets have changed over the years.  If you notice, the advice he gives latley has more to do with human nature than trading.

Mon, 08/25/2014 - 11:43 | 5140722 PartysOver
PartysOver's picture

I respect Art for his ability and desire to murder ice cubes.   Lord knows that man has ssent many a cude down the sewer.

Mon, 08/25/2014 - 11:04 | 5140563 NoDebt
NoDebt's picture

.... and keep buying stocks with both hands.

Almost the whole damned run off the March 2009 lows has been on low volume.

Mon, 08/25/2014 - 11:02 | 5140564 RattNRoll
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Fucking brilliant....

/s

Mon, 08/25/2014 - 11:03 | 5140565 SHEEPFUKKER
SHEEPFUKKER's picture

12 words......buy the fukkin all time world war three high you fukkin sheeples

Mon, 08/25/2014 - 12:26 | 5140884 disabledvet
disabledvet's picture

You know it's bad when all you have is airtime.

Mon, 08/25/2014 - 11:02 | 5140568 HUGE_Gamma
HUGE_Gamma's picture

stay very very long

Mon, 08/25/2014 - 11:23 | 5140652 JRobby
JRobby's picture

Pfizer

Mon, 08/25/2014 - 11:05 | 5140579 clade7
clade7's picture

This advice also applies to shoppers at the local Farmers Market...thanks a pantload Art,  I'm still pissed about that damn guy in overalls that sold me last years frozen blueberries as fresh...

Mon, 08/25/2014 - 11:10 | 5140603 Dead Man Walking
Dead Man Walking's picture

your weren't nimble enough !

Mon, 08/25/2014 - 11:12 | 5140610 PartysOver
PartysOver's picture

Dude, that was cold.  lol

Mon, 08/25/2014 - 12:06 | 5140802 Doubleguns
Doubleguns's picture

Those were fresh, it was that polar vortex thingy again. 

Mon, 08/25/2014 - 11:05 | 5140580 101 years and c...
101 years and counting's picture

we have bots today to pass the hot potato back and forth, collecting "liquidity fees".  so, nothing to see here except 2050 SPX this week.  unless W&R show up and sell more than 3 ES in a single trade.

Mon, 08/25/2014 - 11:09 | 5140594 Dead Man Walking
Dead Man Walking's picture

buy if it's going to go up

sell if it's going to go down

 

nimbly yours,

the wary trader

Mon, 08/25/2014 - 11:09 | 5140596 clade7
clade7's picture

12 words of wisdom from Caesar Milan:

 

"Dont let your dog piss on the carpet, or he wont stop"

Mon, 08/25/2014 - 11:10 | 5140604 McCormick No. 9
McCormick No. 9's picture

The stock market is no longer tied to any real-world event. When it crashes, it will only be because it was brought down in a controlled demolition.

The term "real-world events" only applies to solar outbursts, asteroids, and other outer-space phenomena. All other events are controlled by humans.

If you don't have primary-sourced water, arable land, the skills and health to tend that land to fruition, guns and ammo to protect it, family members to help you with all of that, and a community tied by common culture and mutual self-interest, you're basically fucked, so you might a well have fun while it lasts.

Mon, 08/25/2014 - 11:20 | 5140640 Econolingus
Econolingus's picture

On a long enough timeline, you might be right. For the moment, you just sound cranky.
Never forget that the US basically had a ZIRP from 29 to 69. The Fed can stay dovish longer than you can stay solvent.

Mon, 08/25/2014 - 11:11 | 5140609 craus
craus's picture

This ones for you Ben Bernanke, S&P 500 hits 2000 on your anniversary of Obama appointing you in Aug. 25, 2009.

Your gone but not forgotten - Janet Yellen.

 

Mon, 08/25/2014 - 12:57 | 5140613 TomGa
TomGa's picture

Are the narcotic effects of cheap money about to wear off?

 

Bundesbank's Weidmann Warns: Debt Monetization Is An Addictive Drug

 

(Weidmann's article is a more modern version of the article "Cheap Money is a Costly Panacea" published in the NY Times, April 1930.)

Mon, 08/25/2014 - 11:15 | 5140620 rayban
rayban's picture

SP 2000 during a London bank holiday in the current geo-political environment rhymes perfectly with the imaginary dovish spin attributed to Draghi.

This market is a joke and will start to fall to pieces just after the Ali Baba ipo.

Mon, 08/25/2014 - 11:17 | 5140626 kchrisc
kchrisc's picture

The thing about these markets is that they are really two markets in one. An investor in stocks or whatever is banking on being able to get to safer ground when the ground beneath the market liquefies, but then all of the exits will be to dollar-land which may be collapsing like a giant mudslide into an abyss.

Double the fun.

An American, not US subject.

 

"From the stock fryer to the dollar fire."

Mon, 08/25/2014 - 11:22 | 5140645 Al Huxley
Al Huxley's picture

He says that all the time, up down or sideways.

Mon, 08/25/2014 - 11:22 | 5140647 Benedict Farse
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Wise words? What a Kant.

Mon, 08/25/2014 - 11:26 | 5140656 Billy Shears
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Off-the-rack cliques for every (stock market) occasion.

Mon, 08/25/2014 - 11:38 | 5140692 Salsipuedes
Salsipuedes's picture

Art will be slightly nimbler and guicker than you are and not because he's any nimbler or quicker. Can you say "retainer"?

Mon, 08/25/2014 - 11:40 | 5140708 orangegeek
orangegeek's picture

yep - just loaded up with my life's savings at ATH's - that's the way to do it, right yellen?

Mon, 08/25/2014 - 11:44 | 5140728 Gamma735
Gamma735's picture

I love to buy him a drink after the market closes.  I bet his real war stories are awesome.

Mon, 08/25/2014 - 11:45 | 5140734 jemlyn
jemlyn's picture

This has gone on longer than any of us could imagine but now we are getting much closer to the classic danger in "October".

Mon, 08/25/2014 - 12:11 | 5140810 Doubleguns
Doubleguns's picture

The Sept 11th danger zone must be crossed first. 

Mon, 08/25/2014 - 13:26 | 5141117 atthelake
atthelake's picture

Will the downvotes please explain? As far as I know, all crashes happen in October. Please explain why you disagree. Thank you.

Mon, 08/25/2014 - 13:14 | 5141067 atthelake
atthelake's picture

Axel Merk says, "It's time to take chips off the table", on Greg Hunter on YouTube. Last sentence.

Mon, 08/25/2014 - 13:42 | 5141183 Cobra
Cobra's picture

"Never get balls as close to fire as man in above picture."

12 words to live by...

Mon, 08/25/2014 - 21:43 | 5143090 ToNYC
ToNYC's picture

STFATH, buy upside OTM calls on the fill

Live to fight another day.

Tue, 08/26/2014 - 06:25 | 5143990 AdvancingTime
AdvancingTime's picture

Over time we tend to forget the path we have taken to reach where we are. I'm amazed at how our day of reckoning is always being kicked out a year or two and never going to happen tomorrow. It is as if we can't handle what is coming at us and need more time.

 For a long time I have been trying to develop a scenario for a market "super crash" and a reasonable map that would arrive at such a situation. Below is an article looking at how it could happen sooner rather than later.

http://brucewilds.blogspot.com/2013/01/flash-crash-on-steroids.html

Do NOT follow this link or you will be banned from the site!