Capitulation should have occured months ago, the dow should be sitting even lower than it is today, the only reason why its propped up above 11500 is because of all the money that was thrown at the market the last 12-18 months. They are trying to save a market that has been in trouble for the last 2 years, its not working now since everyone realizes its alot worse than they thought it would get. I remember some fools saying that the subprime problems WOULD NOT SPILL over to other parts of the economy, HELLLO, these are people who write the books who have been studying this type of thing for years, how the hell could these credit problems not spill over, its only going to get worse.
I have underestimated the bull since I started posting in 2006, I was bearish then and I was bearish at 14k, its time to underestimate the bull and understand bubbles to deflate and eventually the market does turn bearish when you least expect it.
I concur. 90% of the time, it moves in such a way as to fake people out, take out their stops and then reverse. It is one tricky mofo. Kudos to anyone who can come out profitable at the end of the day, whatever techniques they use.