its not capitulation yet. the full scope of this mortage meltdown is'nt known yet. its too hard to quantify at the moment. we may have a real problem here.
IMO, the damage was done last week - today's action is just window dressing. Kind of like when someone gets an STD. They don't know they have it until they get tested, but you're still dirty. Might itch a little too, but others around here would know better than I .......
long overdue, we need the move down as well. as long as their is good movement then great. fear.. then greed. just play the game, all goes in cycles.. all repetitive actions, often to extremes..
the pundits were pushing that tech trade all week, toal bs, tech always gets killed on any selloff worse than the rest of the market, highest p/e`s and discretionary spending by companies.