When it comes to clear, concise, comprehensive forecasts of the future, nothing beats Art Cashin... even when his crystal ball is admitted a little cloudy.
From UBS Financial Services
A Cloudy Crystal Ball - Since this is the last “Comments” until after Memorial Day, a blurry look ahead may be in order. The battle for Greece (and Spain) will be fought daily at the ATMs of their banks. A full-blown bank run would be an instant crisis. Egyptian elections (Wednesday & Thursday) may move markets. Markets heavily oversold and susceptible to a large, maybe massive, short squeeze. A central bank move in Europe, China or the U.S. could catch shorts flat-footed. That having been said, we have not yet seen capitulation, just thick dark gloom.
And to think how many "pundits" out there believe that being paid by the world is indicative of wit or intelligence. All hail the pithyness of the Chairman of the fermentation committee.