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Might be a mini capitulation, but not even close to THE bear
capitulation. I do have a triangle in NDX coming to the apex which should
give a 2-3% bounce tomorrow. But this bear cycle won’t be over
until Sept 19 expirations. My target for QQQQs is so far south of here I
can’t mention it without giggling. Not as much for SPX or DJIA but
lower. Anyway, yes, bounce tomorrow before the elevator down again…an
hour, a half day, a day but I doubt more than that. Good luck, Jim
From:
realtraders@xxxxxxxxxxxxxxx [mailto:realtraders@xxxxxxxxxxxxxxx] On Behalf
Of Robert Arbuckle
Sent: Tuesday, September 09, 2008 4:51 PM
To: realtraders@xxxxxxxxxxxxxxx
Subject: [RT] Are we there yet?
I don't know about you folks but today looked a lot like
capitulation to me. They were throwing out the baby, the bathwater and
the nanny during this session. Stocks that had solid support structures
blew though them. Maybe it's just day one of capitulation to be followed
by 4 months more of it but I do believe it was a capitulation day.
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