P&S and STO Death Blow's Message Board

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Strategies & Market Trends : P&S and STO Death Blow's

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To: LTK007 who wrote (3105)	7/3/2002 7:44:57 AM
From: ajtj99	Read Replies (1) of 30712

IAO, we are nowhere near capitulation. An intermediate low, maybe. Capitulation is when you ask 10-people if they are invested in stocks and you get responses like "I'll never own stocks again for 10=years" or "I'll never invest in the market again" or "I'm only buying CD's from now on". We're far from that level. Most people have not redeemed their 401k money from the stock market. Until that happens, we'll slide until we find a level at which selling is exhausted. All the weak hands that have yet to fold are like a big wet blanket that gets thrown over any rally attempt. We are probably near an intermediate low. If we get it today and re-test it by next Tuesday, we'll probably get a Max Pain rally out of it and nothing more, IMO.

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