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Art Cashin Warns "Stay Wary" As S&P Sits At Critical Support
It "all depends on Draghi," warned UBS' Art Cashin early this morning... and Draghi disappointed. Historically October 2nd, Cashin notes, usually sees a rebound but payrolls may complicate that pattern (and rumors that ISIS is consolidating west of Baghdad). Stick with the drill, he advises – "stay wary, alert and very, very nimble," as the 120-day moving average (1945 on Cash S&P) is critical...
Charts: Bloomberg
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For a second I thought the headline said "stay away" as in Dallas and Ebola.
SEE!!!! WTF DID I TELL YOU MOOKS!
http://www.zerohedge.com/news/2014-10-02/futures-flat-japan-tumbles-wti-...
But NOOOOOOOOO...
And where's out chief mental masturbaiter aVileRat!!!
Fucking idiot!
You did this last time around when you called "Black Monday" and the market was up 250 points on it's way over 2k as you tripped over yourself being wrong every day the whole way up.
You are a clueless ass clown. Here is a tip for you. Get ready to btfd.
Too late:
http://www.google.com/finance?q=INDEXSP%3A.INX&ei=rmgtVKiVOtG1iAKdt4HwAw#
He seems to be a nice old fart, but I am tired of his samo samo schtick.
Be wary.. be nimble.. blah.. blah blah
Buy the flash crash.....around 1850 or so
Oh if it isn't mister "they'll never end QE" asshole himself!
STFU fonz and give aVileRat another blow job.
You probably have the antidote to ebola because you keep losing your asshole and showing back up.
Yeah that makes sense you fucking douche bag
You're gone from here soon.
I have offered to bet you on here several times and the loser goes away. You always disappear after. Any day bitch tits.
<crickets>
I see Putin just logged in to junk me. That guy sure is sensitive about his manboobs.
"bitch tits"?
Stop it you two. It doesn't matter who is "right" and who is "wrong" anyway.
When did you turn into a nutbar?
The S&P is now in a down channel within the long term up channel. BTFD is a dangerous game to be playing when it everything looks so toppy. Those flat tops aren't a bullish signal even if they did pop it out of the first one.
the.market.is.rigged.
Each time any significant market approaches or barely crosses some key technical point which, if crossed would create a headache for TPTB, a mysterious bidder or seller of huge size shows up just in time to paint the tape and avoid triggering that indicator.
So I expect a sudden bounce. If not, it could be taken as a sign that much bigger things are changing than just the direction of one market.
15 year sell target is close. market tends to retrace where selling the first shoulder short is a good risk to reward trade location. no need to call tops, the market will reveal that well on it's own.
you want to bet market direction, that is laughable. you have a process, or system?
Yeah so people bet on market direction. Just a heads up, that happens a lot in the markets.
The definition of stupidity = having a online argument with someone you don't know who hides behind a fucking cartoon picture!
BTFD Buffet is;
http://www.msn.com/en-us/money/inside-the-ticker/buffett-i-bought-stocks...
/sarc
Fonz, we know its rigged. Has been for how long now? Well really since the damn thing began. QE is just more blatant abd the most recent game.
I dont understand why you are so against the part where the assholes crash it so as to buy everything up on the cheap.
Becsuse the point of zirp is to get everyone in. Pension funds etc etc etc. You go for a big skank after almost a decade of forcing everyone in at subliminal gunpoint and you risk losing the whole game. Besides do bankers look like they are hurting right now?
I'm not junking u
Im of the opinion that pretty much everyone that is left (and able) is in and it is primarily 401k and other pension money that "has" to be in. Half the people dont have a pot to piss in much less "invest" in the mkts. To me, they pretty much ruined the good thing they had going with the last crash. The volumes over the last 7 years will tell u that.
With that said, I do fully expect chair yellen to double, triple whatever QE but AFTER the beatdown. My playbook is that is what will unleash hyperinflation.
You certainly could be right. But if you feel they ruined the good thing they had with the last crash, how would another one help?
Ask yourself this. If they build a rigged market, and keep it rigged, will everyone eventually come back? There is still a ton of money that is not back in yet.
Well, the Fed is certainly not infallible. Its obvious they are well schooled at financial chicanery but not so much on building up economies (though i know that is not their "job"). However, I do disagree on the notion that there is a lot of money that hasnt come back. While that is true, i dont think it ever will. All the old farts are sitting on it. Like my Mom and Dad. And they aint putting a damn dime in the market, and wont. Plus, there are a lot of boomers who are bailing out their kids. Very little fresh money avaialble. At least imo.
trust your instincts. Lot of logic in what you say, and you say it better than that neanderthal above.
Thanks for respectful comments. I'm probably wrong. But hope not.
If the Fed has the power to prevent a crash, why didn't they use those powers in 2001, 2007?
They did not own the bond market yet.
I'd argue that "owning the bond market" is a weakness, not a strength. It essentially means they have thrown the kitchen sink at the problem...there are no other kitchen sinks to throw.
they control interest rates. they control interest rates. They control interest rates.
Their biggest problem is the other developed countries deflationary implosion ends up causing assets to pile into the bond market on top of what they own and sending yields down.
QE is on its way out.
My guess is headbanger is correct.
Most everyone is on one side of the boat now.
and who might be on the other side of the boat?
https://www.google.com/search?q=janet+yellen+images&biw=1280&bih=923&tbm...
Nice pic, made me smile.
I think what really changes things is Germany. When they no longer play ball.
if this selling non sense keeps up, the FED, er, Belgium, is going to end up owning 95% of all stocks before the year is out... then what? they sell it all off to their cronies and sadle the losses on the taxpayers?
Taking this together with the Fed's huge MBS portfolio, I've often wondered if a currency crisis isnt resolved by the Fed backing a new Greenback with all the stocks and real estate the've being buying up with the money they have been printing.
They have fair and square legal title to that stuff after all. They could probabl foreclose and take posession of half the residential real estate in the country right about now.
Germany once "backed" its currency with real estate for a short period of time to restore confidence for example.
For a second I thought the headline said "stay away" as in Dallas and Ebola.
Same here. I thought ebola has gone electronic.
Should we stay 'wary, alert and very very nimble' today Art? Oh, of course we should. What a gig, just recycle the same comment every day and hit the bar at 11:00am in time for the lunch special.
"The Greek Vortex."
Art Cashin and ekm seem to appear at the same time.
Well, what else is there to say? This is the prolonged bit between the first quake that abruptly unveiled the problem and the final moment of reckoning - or truth, if you prefer that.
Yes, I know, it tends to get tiring. Tell me about it.
It "all depends on Draghi,"
pathetic what has become of things
i recall clearly back in 2009/2010 anyone who thought central banks were juicing the markets was labeled as a tin foilist ("experts" were all on the V shape recovery train)
You got that right. I sometimes propose the following mindset to people I discuss the current economic insanity with, because they always tend to look at me as if the surgeon got my frontal lobes completely screwed up during what was supposed to be a simple and straightforward lobotomy: go back, say, 15 years. Then picture the kind of news headlines you get to read these days (yes, even in the MSM) about things like your "all depends on Draghi", the evolution of sovereign debts, the madness of current IPO's, that fat finger indident in Japan the other day.
You'd have said "no way" back then.
Yet here we are.
Why do all these dudes have names like "Cash In" and "Made off"
Is it just the universe laughing at us?
It ain't the universe.
Well, the 120 DMA is blown and folks are getting nimble.
Looks like a buy to me, especially with the bad ebola news. Technicals however mean very little to me anymore in a totally manipulated market and very few humans trading. Charting is a dying skill.
Look at camera on a stick. I was just saying 2 days ago that within the next few days, there will be a day that this stock is down 15 points. Almost there. Also, the VIX hasn't even shown market panic yet. This downmove has a lot lower to go and I think it happens over the course of a few days. Get ready for that capitulation selling...
Johnny5 likely has something to say at 1935-1942. i covered short term oriented shorts. As long as he can't pierce 1965-67 with enthusiasm then 1910 a prudent spot to cover a new short if/when the opportunity to enter at 1965ish arrives.
And if he doesn't for the record I don't give a shit. In any short position in a market manipulated to move in favor of longs I have to be very quick and even early taking profits. I can enter again if there's a bounce as masculine as Bieber that does not test 1965-67.
Johnny5 tried for about a half hour it seems and just couldn't do it. Absent intervention this could get very serious.
Stocks for the long haul. lol
Stocks for the MSM,gallows for the rest.
This reminds me of and all the scare mongers on CNBC in 2011 squawking about death crosses prior to QE2.
.
I'm actually writing this from the plane at DFW airport. Headed back to Denver and bringing Ebola with me?
Be prepared to get scanned on your arrival at DIA.
hmm...hitting support levels, into the european close; wasnt there a mention of a phenomenon about the opposite direction post euro close? 2% bounce but if more than that....ridiculing a bear on a show would mark the top of the bounce....
But Uncle Warren bought stocks in Wednesday's big selloff!??
Yeah...I think I'll keep my eye on the 200 day avg. That's where the picnic really gets started.
The European equity markets are still open, and the BTFD crowd is still at the bagel shop.
SPXU buy like there is no tomorrow
Fuck the Fed good and proper and all the bankster cunts
World Indices are all rolling over together, EXCEPT for China
http://www.goldsqueeze.com/technical-analysis/world-indices-roll-over-ch...
The price of gold SHOULD be going nuts right now. It (REAL metal) probably IS, but we'll never know...
Just order some. I have been noticing some unusual delays.
Being blamed on payment system, but I am wary.
well USD move holding it back... although usd is struggling today so yeah your right... should be moving higher on the day at least
NY Fed is going to step in and ramp this market back up. No way they are going to let the illusion of a strong market fall apart! We will end the day in the green, fo sho!
since when did we all start looking at the 120 day moving average? I guess the 100d doesnt look so good....
Art Cashin is so helpful, everytime we fall 3%, he says be wary and points out some obvious tidbit. I wish I could avoid his quotes and media appearances over the last 30 years or so, but he's pasted everywhere.
"Everybody has a plan until they get punched in the face."
--Mike Tyson
.
ever see a jet run out of fuel
ever see a market run out of qe
As usual as soon as our buddy Art says be WARY, the market surges 35 S&P 500 points. This guys advice is as good as me flipping a coin.