jerryguru69 (93.33)

Finally: Capitulation (whew!!)

October 10, 2008 – Comments (3)

I note, for the record, that someone else blogged about this yesterday. Today, however, even I see it.

With satisfaction, I see many newswire stories using words: "panic", "fear", and "frantically". I also note that the volume finally blipped up, but not as much as I would like. So, it seems that we are very near the bottom. Finally: I am tired of seeing all of my investment accounts several $k's in the red; just once, I would like to see my them actually gain $$$. Those who have kept their powder dry (count me out; I was tapped out when the DJIA was 10K), take note.

However, there are several things that puzzle me. If you can explain, please speak up. The 25%+ decline over the past 2 weeks was accompanied by really thin volume; no more than a regular, non-panic trading day. Today, DJIA easily whipsawed 1000 points. This all tells me that the current decline is really thin in body. Perhaps, small buying pressures will create substantial up moves. I suspect that the current market will recover much faster than people expect. OK: maybe I am just whistling past the graveyard, yet, still...