Art Cashin, director of floor operations for UBS Financial Services, offered CNBC his take on what traders are saying Thursday.
"A lot of people are starting to talk about erosion in [President Obama]'s polls, and whether that could lead to a change in policy — or maybe even a change in posture," Cashin said.
But stocks are still caught in a "tug-of-war" between the "oversold conditions supporting the market" on the one hand, and "the worry about the head and shoulders breakdown" on the other.
Watch the video for more. Also: Rick Santelli reports on the Treasurys auction.
Point/Counterpoint:
- Stimulus Critics Putting Obama on the Defensive
- Buffett: Second Stimulus Might Be Needed
More from Art Cashin:
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CNBC's Companies in the News:
Alcoa
General Motors
Citigroup
AIG
Broadcom
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Disclosures:
Disclosure information was not available for Cashin or his company.