We’re looking forward to "something different for 2010...after we survived a very provide a rocky 2009 in the beginning," said Art Cashin, director of floor operations at UBS Financial Services.
“My target of concern is the second quarter of 2010, and I think everything from the Chinese real estate, to geopolitical tensions, to class warfare could all come together and start boiling over,” Cashin told CNBC.
Cashin said the markets will have some “coasting power” to move through the first quarter, but the lack of sustainability will become evident in the second.
“We’re up because of what the government’s done,” he said. “If you look at GDP, most of it’s because of 'Cash for Clunkers' and the real estate support. So where is the sustainability? If they take the patient off the extraordinary life support, can he live on his own? There’s still some doubt about that.”
“Be nimble,” advised Cashin. “You want to stay very, very nimble.”
Previous Art Cashin Appearances:
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More Market Views:
- Dennis Gartman: I'm Buying US Dollar and Stock Market
- Prep for M&A Activity in These Sectors: Manager
- Asset Strategist's Q1 Market Outlook: 'Very Optimistic'
CNBC Data Pages:
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CNBC Slideshows:
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CNBC's Companies in the News:
AIG
- AIG Executive Resigns Over Pay Limits
AT&T
Time Warner Cable
News Corp.
- Time Warner Cable Could OK Arbitration with Fox
Northern Trust
- Northern Trust To Cut 2010 Entertainment Budget: Report
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Disclosures:
No immediate information was available for Cashin or his firm.
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