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To: Eric who wrote (59986)	6/26/2002 4:48:37 PM
From: RetiredNow	Read Replies (1) \| Respond to of 77400

LOL. I hope. You know alot of people are calling for the final capitulation that is supposed to signal the bottom. But I keep coming back to the thought that the folks who are still holding losers now may not sell until a recovery is well underway. At this point, those folks have lost a ton of money, so to sell doesn't get them anything in their minds. So I think the capitulation has shown up in the astounding drops of the last two years. Why is it that most people think of capitulation as a one day outrageous drop? Why can't it also be a steady decline over two years? That to me tels me that most people have reached the level of despair where inaction is the rule rather than the exception. That is also capitulation and we've already experienced it. So maybe the bottom is here already? Anyway, if it's not here now, I bet we see the bottom by October or thereabouts. 2003 will be a decent year and 2004 will be downright good. Those are my long term bets.

To: Eric who wrote (59986)	6/27/2002 8:07:16 AM
From: larry	Read Replies (1) \| Respond to of 77400

Eric, I heard that CNN even mentioned that JPM, MER, and GS used massive buy orders to pop the DOW up 121 points in 10 minutes. The PPT, or D(daily)PT was also active on Monday and Wed. morning. Fed interference in bull market works wonders because the mass are brainwashed to buy every dip. Now it's a totally different story in such a bear market. And I don't think that we need to look at what happened in Japan. That's scary. There is another rumor saying that GS insiders have filed to sell 65 million shares. It will be interesting to see whether this is true. The Fed is keeping the bottom out of reach, IMHO. larry