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To: oldirtybastard who wrote (73557)	3/1/2001 6:46:45 AM
From: Michael Watkins	Respond to of 436258

A bottom doesn't have to be formed on capitulation. A diabolical scenario can be the "i don't care" bottom where capitulation like days occur, but things grind lower. And lower. My best guess is we will see some sort of capitulation day but I think its highly likely that it will not form the ultimate bottom. Unless its a real doozy! And it may well be at hand (check out the post I replied to as well, he's a cool cucumber too): Message 15429696

To: oldirtybastard who wrote (73557)	3/1/2001 7:41:01 AM
From: AllansAlias	Read Replies (4) \| Respond to of 436258

Sentiment is turning, you can see that, BUT, just as the economy is only slowing from fantastic growth to very little growth according to the numbers, sentiment has only fallen from a rare and historic frenzy to levels of worry. Both have farther to fall. The proof imo will be the reaction when we rally for 800 NASDAQ points (or whatever) in the coming months. I expect that many, many people will jump on board thinking we have turned the corner. Only after that long rally falters and we turn back down again will people sour on trading/investing. At the bottom, whether it comes in a crash or gradually, as I am now beginning to suspect, there will be no talk of buying the dip as there is now. Count on that. Permabear lurkers who read this will dismiss it out of hand. No matter. Many people were so very wrong about how high we'd fly and many more will be wrong about how far we'll fall. Such a permabear only has to cast his/her mind back a year. They laughed at the notion of 3000 and thought the notion of 2000 was just mad. Now they see 1000 as mad.