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To: Jack Hartmann who wrote (66480)	10/7/2008 10:11:02 PM
From: Feraldo	Respond to of 118717

I agree. Controlled puking. The last two days, especially, have shown very orderly selling. Capitulation, I would define as all out madness in selling. The last two days have seen orderly declines. Large, but orderly. We either are going for a U bottom (eventually) or a V bottom, faster. At this rate, we need a V bottom capitulation soon or the U will not be able to take shape due to a global depression. I would like a nice V shaped bottom at this point with capitulation this week. Monday morning when the market started to enter into capitulation, the buyers stepped in and rallied and the sellers took a breather. But on the down move all together it was 800 points. Had the whole 800 came int he first hour and a half, then the decline would have been capitulation. Even on this thread and the mIRC channel, there are many who have not capitulated and continue to take large losses every day. I too have a position that I should not have held. Luckily I bought at 22% yield so I can afford to sit and take my check (assuming it keeps coming). Until all that will capitulate are out, including the deleveraging of hedge funds, we will be bearish.