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Art Cashin's Take On The Twist


As usual getting Art Cashin's pragmatic take on something as important as the Fed's decision (which at this rate will need to be revised very soon), is quite a morning coffee, or for some, "fermentation", treat.

From UBS' Art "The Chairman Of The Fermentation Committee Ain't Not Rogue Trader" Cashin

Analysis And Reaction On The Fly - This morning we will vary the format just a bit. Yesterday’s action appears to have been egregiously misinterpreted by a broad group of TV pundits.

There was an initial selloff that was clearly related to the FOMC and new policies (Operation Twist, etc.). That reaction ended around 2:45 and stocks began to rally sharply until about 3:10. Then stocks rolled over and went into near free-fall as the Euro plunged and the dollar soared. That plunge continued into the closing bell with nary a look back.

To put things in more real time style perspective here is an email I sent to some friends (trading types and journalists).


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