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To: wanna_bmw who wrote (85522)	7/22/2002 4:19:49 PM
From: tejek	Read Replies (2) \| Respond to of 275872

Ted, Re: "Today, the DOW closed below 8000 for the first time since 10/14/2002. It strikes me that the markets need some kind of intervention to stop this decline." I was hoping for some kind of capitulation today. Unfortunately, it looks like it hasn't happened, yet. The question is, how broke do people need to be before they cash out and accept their losses? Seems like people have quite a tolerance for pain. That may indicate that the bottom is not yet in sight. wbmw, unbelievably there have been only two up days on the DOW since July 1. It feels like a vicious circle. The markets go down, people freak and take their money out of mutual funds, the funds have all these redemptions and sell their winners to raise cash, and the markets go down. I don't know how you stop this self feeding activity without an intervention of some sort. ted