As much as we are seeing incredible downdrafts in almost every single market sector, I think the real capitulation begins on the next bad jobs report, store and bank closings; and, especially when you begin to see credit card late payments increase dramatically and some default to BK. That's ground zero, from which the phoenix can begin to reformulate based on what hard assets are left standing sometime next year.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.