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Art Cashin Talks Market Dramamine
Started:December 7th, 2011 (10:00 AM) by Quick Summary Views / Replies:466 / 0
Last Reply:December 7th, 2011 (10:00 AM) Attachments:0

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Art Cashin Talks Market Dramamine

Old December 7th, 2011, 10:00 AM   #1 (permalink)
Quick Summary
Art Cashin Talks Market Dramamine

As usual some highly pragmatic observations on the roller coaster stock market from the Fermentation Committee chairman.


Whew! Got Any Dramamine? - In yesterday’s Stealth Stocks letter, Dennis Slothower featured this quick market summary from Gary Kaltbaum:
Here is how trader, Gary Kaltbaum described the market recently.
  1. Crash into early August, then hit a low where market rallied up 10% in six days.
  2. We then dropped about 7% in 3 days.
  3. We then rallied up about 9% in 7 days.
  4. And then in 2 days we dropped about 8%.
  5. In 2 days we rallied up 5.5%.
  6. And then next 2 days we dropped 6%.
  7. And the next 5 days we rallied up 7%.
  8. And the next 3 days we dropped about 9%.
  9. Next, we rallied up about 7%.
  10. The next 4 days we dropped about 10%.Culminating with the wash out on Oct 4.
  11. And then in 5 days we rallied up 11%.
  12. Sat around.had two big gaps into the highs of late August and then we did two big gaps down.
  13. A little rally up.
  14. Another big day down.
  15. Within a day, a gap up. Then another big drop.
  16. Went down about 9% in seven days.
  17. And this week on two days that gapped up, a total of about 640 points.
  18. We finished with a rally this week of 8% and this one was for the books. You couldn't get in because they were gaps.

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