Waiting For Capitulation

While we wait for Capitulation, here is something entertaining to watch.


PJ said...

The market is going down, and the down move may be a bit tired, but I don't see much capitulation.

Volume is drying up, but the call:put ratio remains high.

I'm undecided what to do at the close. What do you think, Tsachy?

Anonymous said...

I capitulate

Throwing up the white flag

sold EDC @ 104

old dawg

Tsachy Mishal said...

If its ugly I will force myself to at least do some buying because I believe we are getting close to a tradeable rally, not just a reprieve.

I might leave room for another move down on Monday though. The fact that its month end makes everything trickier.

Tsachy Mishal said...

OL DAWG (aka Gonads Of Steel)

We have all been there. You are man enough to admit it. Im sure you will bounce back.

Anonymous said...

I wouldn't get too long or hold longs for a long time.

I think all bounces will be batted down till 1030.. that's just my opinion. this mkt has changed. We're in a progression of lower lows and highs and who knows when that will end.

We are in a bear market now.

Anonymous said...

Tsachy, is this the capitulation you were looking for? Or more?

Tsachy Mishal said...

It definitely feels like people are starting to throw in the towel but it could last a while.

CP said...

I'm starting to cover some shorts.

Aren't first Mondays of the month pretty big up days recently?

PJ said...

anon @ 3:27: Agreed, in my case I'm just lightening my shorts -- I was 95% short, just went to 75%.