Legend Art Cashin Says This Was The Real Reason For Thursday’s Violent 700+ Point Rally In Stocks

On the heels of Thursday’s monster rally in the stock market leaving some observers scratching their heads, legend Art Cashin told King World News this was the real reason for Thursday’s violent 700+ point rally in stocks.

The Real Reason For Thursday’s Violent Rally In Stocks
December 6 (King World News) – Eric King:  “Art, we have about 15 minutes left in the trading day.  What have the traders been talking about on the floor of the exchange this week?”

Art Cashin:  “Strange thing.  At the early part of the weekend the president came out and said he had a great meeting (with Xi) — very productive.  The market rallied and then they noticed that the Chinese weren’t talking about the 90 day tariff truce and whatever, so stocks began to fade (aggressively).  Then we discovered yesterday, when the US markets were closed, that on Saturday a highly placed Chinese female executive had been arrested in Canada.  Somehow it was kept quiet (until yesterday), and they sold off (aggressively) here again today.

What is happening now is we are closing well off the lows of the day.  And (laughter) if among your audience are any conspiracy theorists they will love this because one of the reasons the market is coming back is people are now saying:

“Hey, wait a minute.  That (arrest) happened on Saturday.  Somebody probably knew about it — some really well placed people knew that arrest happened and might be disruptive (to the stock market).  So a good deal of Tuesday’s selling might have come from informed sources who had figured out what was going on.”

So we were down close to 800 points today.  But they are coming back thinking that some insiders had sold ahead (of the news becoming public) on Tuesday, so we took some of that (selloff) out of the way.” KWN has now released the remarkable audio interview with Art Cashin discussing everything from today’s violent trading, to the possibility of a new ice age, what to expect in the gold market and much more and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.

ALSO RELEASED: Dow Plunges Nearly 800 As Central Banks Now Have A Huge Problem CLICK HERE TO READ.

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