Art Cashin Says That The Market Resembles The Summer Of 1987

Wednesday, October 14, 2009

“There’s just some eerie things about this—it’s reminiscent of spring and summer of ‘87 when nobody believed the rally and it kept going up despite skepticism, people shorting into it. It ate them alive until it suddenly turned.” says Art Cashin.

Is this a reminiscences of the 1987 stock market crash? Very interesting words from the veteran trader Art Cashin. He has been wrong all along, being bearish since late March or May but is he regaining his form?

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