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To: Johnny_Blaze_420 who wrote (45096)	7/10/2002 2:59:26 PM
From: AllansAlias	Read Replies (2) \| Respond to of 209892

blaze, I try not to pay attention to the various treatises on what capitulation could or could not be. Folks talk about "stealth capitulation", "gradual capitulation", "selective capitulation" -- that's just HOPE talking. When it comes, it's clear. One of the hallmarks is that there is a period of time, could just be a couple of hours, when everything (well, 98% of everything) is sold; gold miners, blue chips, glamour trash, the works. Also, you're looking for a very high volume day, something in the 5 billion range for NYSE and NASDAQ combined. Having said that, a bottom is also marked by divergences in wider timeframes, where various stocks do not make new lows and we see the underlying breadth of the market not make a more bearish low at the eventual price low. This is something that happens in the wide daily or weekly timeframes, whereas capitulation happens in hours or maybe a couple of days.