RegMed Daily, Closing Bell, 10/21/11, an option expiration Friday highlighting a stay of EU execution
Saying it … like it is … my favorite market commentators (Art Cashin) speaks OUT … as usual:
- The only reason US stocks are up Friday is because the European Union has put off making any decision on bailing out Greece and other issues until Wednesday, Art Cashin told CNBC. This is a ‘stay of execution’ rally, the fact that they’ve postponed everything, given themselves new time,” said UBS Financial’s head of floor operations;
- If they had to make an agreement this weekend, they (EU) couldn’t agree whether it was raining or not. So buying some new time helped everybody out.” Cashin said many traders were assuming the original Sunday meeting, when EU leaders will discuss solving the debt crisis, would bring bad news – so now those traders are doing some short covering.
Closing Bell: The NASDAQ close UP +38.84 (+1.49%) to 2,637.46. The Dow closed UP 235.76 (+2.04%) to 11,802.36.
Who’s up … at the close and any … whys:
Aastrom (ASTM) +$0.09 <+3.90%> to $2.40; Athersys (ATHX) +$0.04 <+2.96%> to $1.39; BioMimetic (BMTI) +0.08 <+2.52%> to $3.26; Cytori (Cytx) +$0.09 <+3.10%> to $2.99; Dendreon (DNDN) +0.35 <+3.50%> to $10.34; Geron (GERN) +$0.06 <2.73%> to $2.26; Opexa (OPXA) +$0.07 <+6.36%> to $1.17; Osiris (OSIR) +$0.11 <+2.24%> to $5.02 and Neuralstem (AMEX: CUR) +$0.01 <+0.82%> to $1.23