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90 Seconds with Art Cashin: Concern For Greece is Great

CNBC's Bob Pisani and Art Cashin, of UBS, discuss whether there will be much progress in a debt solution for Greece and whether the country will default, exit the euro zone, or both.

90 Seconds with Art Cashin: Greek Deal Not Affecting Markets Yet

09 Feb 2012

CNBC's Bob Pisani and Art Cashin, of UBS, discuss the markets' lack of response to the Greek deal. Cashin asks what will happen when the election comes around in April, as Greeks are already crying about austerity.

90 Seconds with Art Cashin: Can Draghi Help Greece? 08 Feb 2012
CNBC's Bob Pisani and Art Cashin, of UBS, discuss the market drop and concerns the ECB's Draghi may not be able to help Greece.

90 Seconds with Art Cashin: Bernanke's Sigh of Relief Rally

07 Feb 2012

CNBC's Bob Pisani and Art Cashin, of UBS, discuss a down dollar, the up euro and the reasons behind the mini rally. People are realizing Greece doesn't have a payment due till March, and after Bernanke's testimony, there was a sigh of relief rally.

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Pisani: The Real Reason Financials Are Gaining

Published: Wednesday, 10 Mar 2010 | 2:01 PM ET

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By: Bob Pisani
CNBC Reporter

The big moves up in select financials has a confusing number of possible reasons — but concentrate on the most important one.

Citi's successful pricing of its trust preferred is a good sign that banks will be able to raise additional capital. There have been very few trust preferreds issued recently and this is a bit of a green sign.

Many regional banks need to raise capital, and they have been moving on this news as well.

Regional banks have seen a strong move up in the past two days — for example, Regions [RF Loading... () ], Huntington Bancshares [HBAN Loading... () ], and Zions [ZION Loading... () ], for example.

Many of these stocks also have high short interest. In the case of ZION, 21.9 percent of the float is short, a very high percentage.

Meanwhile, high-volume, low-quality financials are again strong today on heavy volume — AIG [AIG Loading... () ], Fannie Mae [FNM Loading... () ], Freddie Mac [FRE Loading... () ].

While the silly rumors about the government trying to restrict short selling in these names has been shot down, they continue to trade on momentum and short covering.

We've seen this movie. Remember, this melt-up on short covering happened in a much bigger way last August, when AIG went from $12 to $50 in a few weeks, Fannie went from $0.60 to $1.80, and Freddie went from $0.60 to $2.10.

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Topics:Wall Street | Barack Obama | Investment Strategy | Stock Market

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