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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: KymarFye who wrote (59775)	10/3/2000 2:24:46 PM
From: sea_biscuit	Read Replies (2) \| Respond to of 99985

Right. Besides, capitulation happens after a prolonged period of anxiety during which investors keep hoping for their stocks to come back, until they get so demoralized that they dump their shares and collect their 10 cents for every dollar they put in, and vow never to return to the stock market again. Capitulation is when you mention the phrase "stock market" and 19 out of 20 investors feel like throwing up when they hear it. We are very, very, VERY far from there. "The markets always come back" is still the mantra. A variant of that is "some tech companies will continue to do well no matter what their valuations are". We can see that in the speculative activity in the internet infrastructure stocks and biotech stocks these days. All those myths have to be completely shattered before we can get any capitulation. It could take as long as a year or even longer before we get to that point.