US Markets

Art Cashin: Iraq uprising is 'quite dangerous'

Cashin warns of historical volatile day

As violence and regional tensions in Iraq mount, the situation remains "quite dangerous" for the markets, veteran trader Art Cashin told CNBC on Thursday.

"The Iraq situation is beginning to spill out," Cashin said. "You're seeing a little bit of a minor flight to safety. You're seeing it in gold. You're seeing it in Treasury bonds. People are beginning to wake up."

Investors must watch oil prices—which soared after Iraqi rebels took control of two northern cities in the oil-rich country—as a barometer going forward, he said. The rising price of oil and concerns over Iraq took a toll on the transportation sector on Thursday, Cashin added.

Read MoreUS oil skyrockets on Iraq, ends at 2014 high

Cashin also has some nontraditional advice for Friday.

"Bring your rabbit's foot tomorrow, and make sure things stay in order," said Cashin, UBS' director of floor operations at NYSE. "Another part of the folklore—tomorrow traders will be facing a full moon on a Friday the 13th. They're reasonably rare."

Cashin said the last full moon on a Friday the 13th occurred in October 2000, when the "dotcom bubble was exploding." The next one won't happen until 2049, he added.

—By's Jeff Morganteen