ART CASHIN: Facebook May Be The Bulls' Best Shot For A Bounce

art cashin

Stocks have hit a rough patch.  Since the April 2 high of 1,419, the S&P 500 is down 8 per cent.

Markets weren’t helped yesterday after being hit by successive waves of bad political news from Greece, and worries about Spanish banks. A weak Philly Fed survey didn’t help.

But today might be an inflection point writes Art Cashin, UBS Financial Services’ floor guy.  He points to an IPO you may have heard about.

From today’s Cashin’s Comments:

“G8 meeting over the weekend may worry Eurozone shorts. Facebook frenzy may lift animal spirits. May be bulls best shot for a bounce. Nevertheless, stay alert and very nimble.”

See Also – 5 Trivia Questions From UBS’s Art Cashin That Will Drive You Bananas >

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