Art Cashin on Expiry
By Barry Ritholtz - August 21st, 2009, 3:00PM
Art Cashin, head of floor operations at UBS, has the buzz from the NYSE
Airtime: Fri. Aug. 21 2009 | :50:0 09 ET
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Faced with the choice between changing one's mind and proving that there is no need to do so, almost everyone gets busy on the proof. —John Kenneth Galbraith
Macro Notes
Largest market cap stock has gone parabolicPeter Boockvar
Putting aside its incredible product line and pipeline of more, its still attractive valuation relative to earnings, and its $100 per share of cash that may be used for a dividend soon, Apple's stock has gone parabolic. And, parabolic moves always end one way, back to the place where the parabolic move began. Now, AAPL can of course power higher to who knows where in this move but the largest market cap stock in the world has now entered a tenuous phase, strictly technically speaking. But I digress. German investor confidence, the ZEW, in the next 6 months rose back...
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