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Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.

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Art Cashin says watch 1925 on the S&P.

Comments

  • Dex
    Since it closed at 1906 - what should we watch next?
  • JohnChisum
    Looks like I linked an old article. Oops. In the article the next stop was 1900-1905. Basically we are there now.

    Art is a technical guru and a good one. For the day traders his info might be good. For most of us here it probably doesn't matter anyway.
  • AndyJ
    edited October 2014
    1905 is the 200d simple moving average, which is apparently why he mentions 1900-1905 in the piece. But there's no rationale given for anything he's quoted as saying, so it's anyone's guess.

    A blowthrough of the 200d (especially one that's sustained for a couple of days) could trigger significant additional selling.
  • AKAFlack
    Art is incorrect.
    This is a triple-bottom.
    Obviously, it appears at the BOTTOM of a price range,
    not at the top.
    http://stockcharts.com/school/doku.php?st=triple+bottom&id=chart_school:chart_analysis:chart_patterns:triple_bottom_reversal
  • TedTed
    @MFO Board Member: Now it appears that Art Cashin has become relevant, at least in the eyes of John Wayne (Aka. John Chisum). As many of you know, a while back I linked his daily commentaries on a regular bases. I stopped doing so because I got tired of the negative comments directed ar Art. Here is the video of this thoughts on resistance at 1925 on the S&P 500.
    Regards,
    Ted
    http://video.cnbc.com/gallery/?video=3000318836&play=1
  • ron
    I don't watch anything anymore. I stay with my holdings and won't buy or sell.
  • Dex
    ron said:

    I don't watch anything anymore. I stay with my holdings and won't buy or sell.

    You watched this thread...
  • Old_Skeet
    Hi Ted,
    Thanks for posting Art's take.
    Old_Skeet
  • Bitzer
    Art's comments have no relevance to my style of investing and, in my opinion, his research methods are dated. That having been said, I enjoy hearing his take from time to time.
  • JohnChisum
    One post does not relevance make. Neither does hundreds of posts of Chuck Jaffe. He is not relevant either with his vanilla buy buy buy mantra. Mark Hulbert has no relevance either with his drivel masked by hawking his newsletter.
  • scott
    Cashin has only been on the floor of the NYSE for something like 50+ years.

    Edited to add: Bio http://www.businessinsider.com/art-cashin-biography-2012-7?op=1
  • JohnChisum
    Yep and good for him. Anyone who works fifty years in a profession loves his job.

    To clarify my position, I would rely on Art Cashin much more than any of the cheerleaders and squawkers CNBC has.
  • AndyJ
    Thanks for the second link, Ted, for the rationale missing in the article.
  • VintageFreakVintageFreak
    Technical ANALYsis. Everyone is equally competent. There is art to it, and you can cashin anytime.
  • JohnChisum
    LOL. Thanks VF for that Sunday morning chuckle.
  • Dex
    scott said:

    Cashin has only been on the floor of the NYSE for something like 50+ years.

    And no one has helped him off the floor yet!

    "Help, I've fallen and can't get up"

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