Art Cashin: Market is Ahead of Itself
September, a traditionally weak month for stocks, has contrarily been strong for markets in the last several trading sessions, but how far will the rally continue?
Art Cashin, director of floor operations at UBS Financial Services, offered CNBC his market insights.
“According to most of the rules that I’ve learned to live with over the several decades, this [market] is ahead of itself, but we’ll let the party continue—I’m just not going to partake in the tainted food,” Cashin told CNBC.
Cashin said investors should be on the watch for ‘trigger dates’ that are coming up such as the autumnal equinox. “We’ve got autumnal equinox coming up and that has been witnessed to a lot of strange events from Wall Street,” he said.
On the U.S.-China relations debate, Cashin said he is anxious to see the developments that take place during the upcoming treasury bill auctions.
“If the Chinese want to send a message to the U.S., all they have to do is sit out on one or two of the treasury bill auctions and see what happens,” he said.
No immediate information was available for Cashin or his firm. ______________________________
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