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Friday, October 10, 2008

And the song is...capitulation!

There are waaaaayyy too many people on waaaaayyy too many stations talking about how we need capitulation.

I am just wondering - does that make it a contrary indicator at this point?

I of course heard it from every single person on CNBC.
I heard it on CNN.
I heard it on ABC.
I heard it on the local news.
I heard it on the radio.

edit - Dow just broke 8,000 six minutes in. Amazing. But wait, a nice bounce...maybe I should just do "play by play" all day! I hope Bush doesn't stop the rally with his much anticipated "statement".

More over the weekend. Good luck everyone!



Danny said...

What a crazy day, and crazy few weeks. I would like to hear your opinion on trading futures vs. stocks. Do you advocate making the switch? Pros and cons?

Anonymous said...

CNBC is marching person after person to call a bottom. Hilarious.