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Cashin: Why ‘I hear Santa’s sleigh bells ringing’

Monday, 23 Dec 2013 | 10:09 AM ET
Art Cashin: Market activity is all relative
Monday, 23 Dec 2013 | 9:24 AM ET
Arthur Cashin, UBS director of floor operations, discusses stock market expectations, and provides insight into the markets acceleration.

The stock market rally should roll into January and persuade even the most bearish investors to bet on equities, UBS' Art Cashin told CNBC on Monday.

"You're seeing some people who are still concerned with the market, but it's a time to just hold your nose and buy them," Cashin said on "Squawk on the Street." "Because you're not in the business of collecting money. You're in the business of managing money."

(Read more: Now that Fed's out of the way, it's Santa's turn)

Cashin said once the S&P 500 broke through the 1,815 mark, the market got out a "rectangular pattern" and gained momentum.

"I hear Santa's sleigh bells still ringing." Cashin said. "I think we're going to make it."

(Read more: Do US equities have room to rise?)

The "Santa Claus" rally should continue into next month, Cashin said, but not all the way through January. He advised investors to watch 10-year Treasurys, warning that they would attract attention from stock traders once yields surpass 2.95 percent.

—By CNBC's Jeff Morganteen. Follow him on Twitter at @jmorganteen and get the latest stories from "Squawk on the Street."

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