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Strategies & Market Trends : John Pitera's Market Laboratory
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To: MulhollandDrive who wrote (4627)9/20/2001 12:56:18 PM
From: John Pitera  Read Replies (3) of 33421
 
right you are Mrs. Peel, the selling has been way too orderly, as several people have realized. In the Fall of
1998 the VIX got up to 60, and that is a possible level to consider. But we'll need to see capitulation in on
several fronts.

Historically you tend to see a big player go "belly up" before one of these bear markets are over. Often it's
a Bank, Brokerage house, or large Hedge Fund. It looks like we'll see more of this with the airlines and that's
assisting the process.

As is this huge 135,000,000 share block of DIS being sold "in the hole".... it is a sign of a degree of capitulation,
not this is enough by itself, but it getting the bottoming process unfolding.

John
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