time to be v cautious ahead of fed meet tonite, page-94

I don't care if people say that CNBC etc has nothing of substance or they are always late to the scene, I've seen the reason for futures rising more often from something I watched on there than anywhere else:


David Tepper of the hedge fund Appaloosa Management said on CNBC Friday that he's getting back into stocks, and added he's not interested in financials at the moment.

Tepper's bet on financial stocks at the bottom of the financial crisis helped to boost Appaloosa's 2010 returns to 132.7 percent, net of fees. Performance documents from an investor show the fund was up nearly 42 percent through July.

Tepper's comments helped to push futures prices higher, Art Cashin, director of floor operations at UBS Financial Services, said on CNBC.

"You could visibly see futures begin to move when Tepper said he was into stocks," Cashin said.

Full Vid:

http://www.cnbc.com/id/39341388



Gluck all...