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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: Justa Werkenstiff who wrote (86916)	6/26/2002 8:38:37 PM
From: profit_guy	Read Replies (1) \| Respond to of 99280

"Capitulation Conversation"...hilarious, but true no doubt... > > Harry Schiller > > Capitulation Conversation > > 6/26/02 01:10 PM ET > > > > Here's the problem as I see it. > > > > (Mike calls Joe) > > Mike: Hey, Joe, what's happening? > > > > Joe: Gee, Mike, I'm watching this crappy market, and > > I'm wondering if you've thought about selling any > > stocks? > > > > Mike: Yeah, I've been thinking about selling, but I > > was hoping I would hear from you that you had > > "capitulated"... Have you? > > > > Joe: I've been thinking about capitulating but I was > > just talking to Ned about this, and I was surprised to > > find that he isn't quite ready to capitulate.... Are > > you considering a little capitulation? > > > > Mike: I'm going to be giving this capitulation > > business some serious thought, but I'm not prepared to > > capitulate until I know that Ned capitulates and, for > > that matter, that my brother-in-law Dex > > capitulates-he's been asking me about this stuff, too. > > > > Joe: So what you're telling me is, you haven't > > capitulated and you don't know anybody who's > > capitulated! > > > > Mike: That's about it. I'm hoping that soon I hear or > > see a little of this capitulation and then if I do, > > maybe I'll think about it.[But I'll probably just buy > > the market because I'll know that after the > > capitulation, the bottom is in.] > > > > Therein lies the problem. Everybody's a technician, > > everybody's doing their own little sentiment surveys, > > and everybody knows that in order to make a bottom, > > everybody's got to "capitulate" first. And after all > > the hand-wringing and subsequent selling at the > > September lows, nobody wants to be the last guy out, > > selling at the bottom. What we need here are a few > > less experts and a few more people who simply know > > that when things suck, it's just time to get out.