Art Cashin Warns Bulls: "History" Not On Their Side

Tyler Durden's picture

Yesterday, the venerable Art Cashin had 12 simple words of wisdom for 'traders'. Today he has a more direct warning for those watching the levitation and counting their 'wealth effect' gains...


"Unfortunately, history gives us a kind of muted picture of it, that if you have high volume, you get follow-through very easily.


If you have low volume and you go into September, we've only had big carry-through a few times,"



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Trade (or hedge) accordingly

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101 years and counting's picture

in the new normal, the next month is always the best month to own and/or buy more stocks.

power steering's picture

Yawn. Time for an ebola update. They find that missing plane yet?

NoDebt's picture

Ebola has come to the US.  I'm pretty sure I have it.  I put my symptoms into WebMd and it said it was Ebola (#42 on the list of possible diseases).  Or it could be the allergies I get every single year around the beginning of September.  But I'm pretty sure it's Ebola.  It's been nice knowing you all.

Pool Shark's picture



#42: The answer to life, the universe, and everything...

P.S.: If I were dying of Ebola, I would want to fulfill my dream of seeing the world. I'd get on a plane and fly to as many different cities as I could...

Escrava Isaura's picture

We're gonna miss you, NoDebt.

See you later!

Dr Strangemember's picture

No way I can drink more than Art... no way!

Hippocratic Oaf's picture

Hey! People have pink skin and red noses for several reasons!

L G Butz PhD's picture

check out Art's liver:

"Enough already, you're killin' me!"

OldPhart's picture

Our illustrious executives have decided to switch our 401-k plan to another administrator.  We were informed today that we will have a blackout period, where no transactions or changes can be made, from Sept 26 to October 27.

Let's see:

10/29/1929  Black Tuesday

10/19/1987  Black Monday

09/14-10/11/2008  Largest and ongoing Financial Fraud in History

10/09/2012  Apple Crash

05/06/2010  Flash Crash....the outlier

09/26-10/27/2014  ??  Suggestions?

power steering's picture

You should have let me bid on your plan

OldPhart's picture


10/28/2011  MF Global

JRobby's picture

It always ends bloody. Why would this one be different?

mrdenis's picture

My company did the same thing in the winter of 1988...switched from Merrell to fidelity they went to all cash for 60 days Jan ,Feb ....naturally that was when we had the "new money effect in the market rose 10% ,which we all missed out on .....looking back it probly cost me a pretty sum ..... 

Augustus's picture

Switch to 100% PHDG for the month of change over.  It may lag on the upside, but could profit if there is the crash while you are locked it to a position.

TheRideNeverEnds's picture



what people like him are not accounting for is the fact that this time is different.

mpath's picture

September is usually a good month--may turn out they way. But Woody Dorsey said sentiment is at extremes--and expects a hard turn to hit around the 9th of September.



power steering's picture

And Rosenberg just went balls in bullish

q99x2's picture

It's software. The FED can do whatever they like with US stock markets. They have been so I don't get what Cashin is saying.

JustObserving's picture

Hardware too.  HFT computers make this false reality possible.  And a toothless SEC, CFTC and other so-called regulators.

Soul Glow's picture

They can't print oil or gold though.  So there's that.

greatbeard's picture

>> They can't print oil or gold

Seems like they've printed a bunch of gold to me.

saints51's picture


dontgoforit's picture

Carry Me Through to Old Virginny

Dr. Engali's picture

The fed is still printing and our currency is still dying, no? Then history is not a good guidepost.... at least not the history of this country. 

saveUSsavers's picture

Cashin soldout LONG AGO he's all FLUFF- idiot !

Keltner Channel Surf's picture

Couldn't be more wrong, along with Santelli, he's one of CNBC's greatest (and only) treasure.  

Tells it like it is, never cheerleads, isn't afraid of technicals.  A long, lost great uncle.

NoDebt's picture

Probably means he's about to kick the bucket like Mark Haines (who I also enjoyed watching sometimes, especially when he was ripping the "business plans" of .com companies apart in the late 90s).

Meanwhile, some sniveling, legalistic lib like Andrew Ross Sorkin.... he'll probably live until he's 150.  He's the one who insisted they put up a chart that showed the difference between fair value and futures price in the morning.  Because, obviously, nobody could ever figure out how to subtract one from the other in their head to get the difference.  I mean, if you can't do simple subtraction in your head (or on a piece of paper if you need to write it down), why the hell would you be watching a channel about trading and investments?  What a tool.

Soul Glow's picture

Markets crash in a day.

Dr. Engali's picture

When this pig finally does crash, it won't be in a day, it will be in the blink of an eye.

Soul Glow's picture

One morning everyone will wake up, fix their coffee and take a shit, turn on the tube, and there has been a 30% correction because some bank made billions of dollars worth of bad loans.  

Of course this time it will be trillions and likely a 50% correction.

A revert to the mean, if you will, and that mean lies on the bake of the fiat dollar, worth nothing but the paper it is printed on.

Chippewa Partners's picture

It looks like they will never stop going up until they don't.  Fleckenstein said it best yesterday.

Soul Glow's picture

When a trader realizes we are witnessing a hyperinflation of a currency, a bond bubble, a stock market bubble, and a repression of precious metals then we can talk about what is going on.

GoatHerder's picture

Kinda like thinking I could eat at Taco Bell three days in a row with no consequences.

Tjeff1's picture

Yawn, did ISIS blow up Chicago yet?

Infinite QE's picture

Rahm needs to relocate his family to Tel Aviv first.

Savyindallas's picture

N0- we need him in Chicago when ISIS nukes the city. Sad thing is that Rahm will get tipped off beforehand and will likely be in Tel Aviv.

Awakened Sheeple's picture

I'm not even mad anymore but this feels like the fucking twilight zone.

Jim Shoesesta's picture

I been "cashin" in the whole bull market since 2009, while Bozo Circus has been calling for the end of the world all over this site. 

Its bull until it aint no more, and nothing changed that yet.  

GoatHerder's picture

Bear with me because I have a perfect analogy as I am just following your logic.

When I was in the Army my unit would get very bored in the field. We devised a entertaining game of chance called the box of death. We would find various creatures such as scorpions and spiders and throw them in a box and place bets on who would live before we shook the box. One day we found a toad and placed him in the box and trust me no one bet on the toad. We shook the box and low and behold he was the survivor.

Moral of the story sometimes the frog wins against all odds. Kinda like a black swan with a little slime. 

SheepDog-One's picture

But history, as much as it pisses me off, seems will be on bulls side today and likely tomorrow as well. No amount of no-QE talk can put a ding in these phony markets upward bias. And it's not surprising with all the present QE flowing in daily with rates at -0- forever or until Armageddon whichever happens first.

Soul Glow's picture

Reality is a fact, the printing press is an illusion of power.

Look around you - it is already falling apart.

SheepDog-One's picture

Things are falling apart for whom, the dirt peasants? Top 5% never had it better and from what I can actually see, they're not going to let that end anytime soon.

Infinite QE's picture

I don't think Art has ever experienced a time such as this when the markets are under complete state control.

CoolClo's picture

"I don't think Art has ever experienced a time such as this when the markets are under complete BANKSTER control."

There, fixed it for you.....

saveUSsavers's picture

Cashin WON'T SAY it's under state control, he's a sellout long ago, they fking muzzled him, just enough to breath. Santelli still talks truth.


Quinvarius's picture

Most bulls think they are outsmarting the system and this warning is a bullish signal.  You know that whole wall of worry thing.  No one ever remembers what happens at the top of the wall of worry.  If Japan has taught us one thing, it is that no amount of money can keep stocks up after QE forces them up.