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Watch Art Cashin: Why high-momentum stocks got hit

Tuesday, 22 Oct 2013 | 1:22 PM ET
Art Cashin: Investors 'harvest a little momentum'
Tuesday, 22 Oct 2013 | 11:40 AM ET
CNBC's Bob Pisani and Art Cashin, of UBS, discuss why stocks are pulling back in late morning trading after an early rally in the markets.

Art Cashin says a moment of mid-morning selling that hit high-momentum stocks was probably someone trying to "harvest a little momentum."

Cashin, UBS' director of floor operations at the NYSE, told CNBC's Bob Pisani around midday it looked like the "computers decided" to take some profits in stocks like Apple and Netflix in a "virtual nanosecond."


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