Thursday, June 26, 2008

The Trader's Edge With Art Cashin, June 26, 2008

Here's a brief paraphrase of what Art had to say today.

CNBC: The FED yesterday, GS today... do you see any silver linings?

Art: No. In fact, I'll bet the FED cuts before it raises this year.

CNBC: Wow... really?

Art: Well, I think GS is so convicted that there's gonna be some trouble and the rumor mongers are out again. And not just the in the financial companies but the automobile companies are in such trouble, that there's a rumor going around that one of them may be filing for chapter 11.

CNBC: We've heard that rumor too... sounds far fetched, no?

Art: Well, you never say never these days.

CNBC: Art will be guest hosting for 2 hours on Monday.

Art: TV is a vast wasteland.

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